 Good afternoon traders. Welcome to the book map pro trader webinar series. We'll continue on with this and Today we've got Niels Koops. Niels is a professional trader nine years of experience He currently trades at the Amsterdam exchange And trades and develops his own proprietary algos for for quite a while now number of years And he finds that book map compliments his work very nicely And shows the intended order flow in relationship to the executed transactions So I need to go through the risk disclaimer Trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors past performance is not necessarily indicative of future results Here you have our contact information And then there's also some contact information that I will put into the chat for you Regarding Niels here. So if you want to reach out to him on Twitter or his website Or his affiliate link here as well for book map. Okay, so other than that, I'll just turn it over to Niels and Go at it Yeah, thanks. So so We we again started with a data feed on my server and that didn't work again. So sorry about that So Bruce is gonna show the screen and then I'm gonna comment about that. So we have to go back and forth doing that So for the rest, I'm trading at the exchange. Well, it's just like like it's not like that you're trading on the floor anymore Of course, it's just the several companies are trading there on the floor and I'm one of them But it's a really nice environment, it's like still kind of like being on the floor But it's still on the screen, right? So so it has a nice vibe, but um, but yeah, still it's only screen trading there as well So book map, yeah, I think I was one of the one of the first to it like like who got it At the time it's been a been a while I guess now, right Bruce. Yeah. Yeah. No, I mean, we've been, you know Chatting back and forth for a number of years. So yeah Yeah And and the funny thing to mention now is that we connected our proprietary data feed from the exchange to book map So we wrote an API for that or you guys wrote it by the way Think a couple months ago now So I'm running that as well and also to test it on on stocks as well But I mainly trade futures by the way, so I'm going to treat which is the DAX and the S&P We don't have Eurex data, so we're going to go over the S&P right now Yeah, and I just want to go through like how I how I use it or what I look for and Yeah, how that can help you as well Yeah, let's let's zoom to I guess the open will be good. Yeah, sure Yeah, yeah, you can keep the open all the way to the left so that we see the rest. Yeah, thanks Yeah, so What we see already is that below There are several bits in and being added while it's raining there, right? So it's turning white or white ish and If we can go a little Little second to my screen. How can we do that Bruce? Yeah, sure. No no problem here. Let me hand it over to you Yeah, I see Security and privacy there. Okay. There you go. Yeah, all right. Yeah, so the open is here 930 here We got a cluster of volume. Can you see the mouse to is it updating quick enough? Yeah, yeah, we see it. Yeah Yeah, so there's a high volume note over here and That's right at the low from well the today probably so that was 47 so that matches up right There can you guys see that yes or no? I can see yeah. Yeah, we can see it great great So that's the point that I was interested in interested in anyway. So yeah, can we take it back to your Yep So what was that level again? 47 47 even yeah, okay Yeah Yeah, there you go and That was right where like into the bits over there at the 10. Oh, you know three or something. Yep, right there and then hold it so Of course, you don't know beforehand if it's gonna hold or not But at least when you know there's previous volume and it's trading up before the open Plus we had expiry right there. That was that was fun to watch Especially in the DAX by the way But so they'll be likely wanted to hold it above the 250 at least that was my that was my idea with it So the 47 test was interesting to see if they're gonna hold that or not So and they did that test the volume and right into the bits from there and then it yeah kind of hold it when when Well a little bit higher and then we I think we had the China news then right That's right here I think at 1018 or something. I think yeah, that's the okay. I was wondering what that was I wasn't watching the news news feeds. Oh Well, I wasn't here and then someone shouted in the in the in the desk. Look China. I like what? So I run back But I kind of I missed that move but good. Yeah Um But still it's interesting to see that because the DAX packed up like 40 points something and this is like to 58 points. Yeah, okay. That's that's similar But yeah, like right into the the heavy office from 58 right Went above there because it was probably stops there as well Yeah, can you just call it to the right? Oh You want to you want to zoom into this area or okay? So what what you can do is then like What I want to do is like I want to switch it back to mine Okay, bring in a bit Here I'm just gonna make you well now. I think it'd be easier here if I do it Yeah, yeah, I think so here. I'll just be more attentive here. There you go Right, so oh, I can draw too. That's that's great. So let's do the key. Can you guys see my screen now? Yeah, right? So you can see all the zero prints. Oh, I'm trying to draw That's not working No, no, right. Yeah, let's just watch the cursor if you can The stops were all well, they were one-sided bias, right because of the news is usually one-sided then Takes up takes up takes up But the the volume is concentrated here right before that. I Think you can see that Yeah, like 52 ish The test was also right to that point and yeah, that's not really a coincidence, right? So this test previous volume and then tries to go back up Yeah, can we take it back again? Yeah So, I mean, you know, I know I know you like the footprint chart very much. Yeah This is what it looks like in book map Right. Here's that here's that cluster right here. Yeah, or you know, that's that's why you get these retests right to it, right? Yeah Anyway, continue on It was 52 50 so that's a little bit. Oh, so it was actually down down here then what you're talking about is this That's weird You're talking about this cluster down here actually. Yeah. Yeah. Well, this is the difference and this is what you this is the difference that you get in book map like It's over time. We see we see this the microstructure here See exactly like what you were looking at is is the Aggregate view of all of this volume within that cluster. Yeah So we know that there's a cluster here and this is where it sprung out from And the retest come comes right back to it here the first retest though was to this cluster here Yes, and Well, actually the first retest was to this smaller cluster here and then the breakout continued So, I mean, it's the same stuff. I just want to reiterate that because I do that in the You know take your presentation here But this is what book map displays and this is this is an advantage is to be able to look at it Look at those clusters Yeah, I think you can also see it in the in the and the C CVP Yeah, it also shows it nicely. Yeah Yeah, very much so right here. Yeah, right. Yeah So that's that's kind of what I would use if I had only had to look at book map Yeah, that's that's the nice way to see see where the volume to go from and where it's likely to hold because those people are Offside, right? So if you were selling there Well, you probably want to get out the first time it gets back at least if that's your view But yeah, can you scroll it a little bit to the left again? Yeah so So besides the fact that the 52 level Was previous high volume from the breakout you can also see that the bits are increasing at that point, right? They're starting to add a little bit more You see little elbows going on there as well and above there. It's kind of light right above the 52 54 area It's it's a bit light So means it's like clear that it's if it's going up that it's going to be much easier to push through Yeah That's that's that's a nice setup Yeah, beauty beauty, I mean super bullish news and then You know then then here it is in the order book and Anyway For for everybody like this is this is what Niels looks at in book map, you know He's got he's got the colored heat map and everything But this is the this is the setup that he likes, right? He has very extreme or much more extreme settings on the on the cutoffs on the volume if you if you want you can set it to high To ice it how I said it like if you go to the yeah, and then set exact size to the lower cutoff Then put it to I think to 200 no Yeah, yeah, so I like it like filtered a lot Yeah So you can only see the the big ones And I'm kind of still kind of playing with the different color schemes by the way like today I was using this one and last week I was With with the yellow one the yellow or the red what the red extreme one. Yeah, this is one this one I prefer as well Yeah, yeah Turn it on as well. Let's see how it looks. Okay So Natalia's got a question here for you. Let's see So there are areas in high volume and CVP you'd like to buy in those areas on the retracement Yeah, I do. Yeah. Yeah, because usually when they're when people are off-site Like off-site, they mean if they're wrong, right? a retest of that area is likely to get a bounce or at least some Or at least that you don't like that. You're not wrong right away They could be consolidation sure but usually it gives you a Bounce in that area because they're wrong and they want to buy it back if they're short and the other way around Um Yeah, that's kind of how it works And I always look at like what would I do if I was shorting there and I the news came out and the first chance I had to get out. What would I do? Well, I would get out. So yeah, um, I totally agree. I mean like you know the the stronger moves like that and then coming back to and then understanding this now in terms of How people are reacting to this area in in essence though, this is a gift They're lucky it came back. Oh, yeah. Oh, yeah You know because because the stronger move like usually, you know It might not even come back to this one It might come back to this little cluster here and that's all you that's all you get and maybe it comes up in test Yeah, usually my whole hallway test is like it's common. But all the way back is less common Um, yeah, sometimes it doesn't test it at all. So, right? Yeah, and then you get a squeeze. So, you know Yeah Yeah, yeah is already the whole way up, of course, but um, no So if maybe you could talk a bit about how you would look for entry points in here Yeah, um, well the end point is exactly what I just pointed out like the 52s area It's exactly what I would buy and I did buy it, but I did did it in the DAX Because I was trading DAX today I Think that the level was like oh, I don't know. I don't have the chart for in front of me now I think like 16s or something in the DAX I Not it was before that Interesting. So so you're you're looking at the S&P As confirmation or a correlation. Oh that too. Yeah, I look at both. I mean the same thing thing happened pretty much in the DAX of course, but Little bit different, but yeah, I watched the S&P as well to look for confirmation in DAX that all not always works by the way sometimes that's really frustrating because I think like To use there something they the DAX went down before the open and the S&P was holding it And I was buying it because of the the hold of the S&P and the expectation of it to go higher And then the DAX went down. I was like, oh, no, so I almost stopped out And then I didn't but at the end I didn't make any money off it because I wanted to get out and then it Then it ran up, but it did kind of yeah It my trade wasn't good anymore So I was too much of sites at that point almost stopped out and then I didn't like it anymore But but yeah, if I would have done it in the S&P then it would have been a great trade But yeah, what do you do can have it all? Yeah, interesting. So I mean sometimes the the I mean you you actually saw the discrepancy as a opportunity And in this instance it didn't work out. Yeah Right. Yeah. Well, usually it does. So it is the thing. It's like if you can see Um, like volume clusters building before the open and it tested down Let me see if I can if you can see that in my chart. Well, then um, it was not today Like this day Well, it doesn't matter anyway, so then but then The expectation is that it they gonna test it at least once or or go higher So if I see that then I want to be long into that, right? And if I see the decks going down, I should have like when that happened Bob Moore probably but Yeah, but the decks can be a little bit crazy, so I like suddenly it was down 20 points. It was like That's not a lot of fun when you're holding Um Yeah, so yeah I'm saying like, yeah, maybe not if I can't get out. I'm happy but but it did work out. But um, yeah, you know Sometimes there's like something different in the decks going on. Maybe like with the with the cars lately Like if if the car sector goes down, then yeah, well the decks goes down and maybe it doesn't like affects s and p that much and then Yeah, you get a different move But yeah, that that can happen, you know Yeah so so just just to follow up on Entry and trade management on this so you're looking for you know The and you'll wait for this move into this area here And you're not really looking too much at the order flow. You're looking for it to just test that area and then thinking that the other traders like Like this they're waiting to get it down here and they're they're gonna they're gonna get out Immediately so you're you're anticipating the bounce, but that the test will occur Yeah, well, I want to see some support of of of buyers, you know, like you see some In the book Are like filling um, okay So so yeah, of course. Yeah, sure. So then that's that's when you're looking to to the heat map Yeah, okay. Got it. Got it. Um, then where would you would you be really aggressive with your stop? Would you just have it a few ticks below? No, I With the s&p right now with this volatility I use like at least two points. Um Yeah, otherwise it's it's really hard to to stay in Yeah, like a few years back then uh with every level being like Like like at like 1.5 k or whatever, you know, but right now there's only I think on average like two to 300 on on a on a one price Yeah, it's not much now It can move faster as well. So and if volatility increases Well, also your stop has to increase or otherwise it just doesn't make a lot of sense. So Right. Um, so yeah, so so then um, what about targets? Um, and uh, scaling in scaling out adding more That kind of thing like in this in this kind of move Would you take some off at the top of this little range or would you be looking for this swing or would you be targeting? Usually the first the first move up. So that's like four points Uh, I scale out usually two thirds and then uh, like and then as you put a runner what the the rest of um And I think it didn't really test lower Do you do you do you bring your stop to break even at that point too? Or you just let it let it Do minus one. Um, okay. So you move it up just a little bit Yeah, because if they just test it and then move then it really passes me off. Um, so Yeah And they like to do that a lot often. So yeah, I mean I try to be careful with that. Um, But yeah, um, yeah, and then this point. Yeah, I kind of Probably yeah, just let the one go, you know Um And then when it moves above the previous scale out, then I moved to stop to break even Yeah, above that level then I moved to stop to break even. So yeah, now it's very even down here. Yeah, and then, um My levels on on the on the upside I I look at the the market profile That I have on and then I see if I see some resistance levels from before And they actually got some there like at 64 65 and also the the the offers offers there were pretty high Like it's 65. Yeah Yeah, I wanted to get out somewhere before that right so yeah um First I start off with like offering just a little bit below because sometimes it flushes right to that order like the big order Um, but if it doesn't take that right away, then I just move it a bit lower and to get a fill and then I'm kind of happy with it So, yeah, okay interesting that's that's what I I do as well like a kind of front run the the higher liquidity because Yeah, it just higher probability of getting out. Yeah, exactly. I was a bit unlucky with the DAX because I was in the book. I was buying 11k One and then I added 11,000 Was it eight something? um So my average was great and then it moved up and I was like, okay cool and then I scaled out 16 I guess And then it had a flush up to the 48.5 and I was in the book at 49 Wow, so I didn't feel and I well That's that was a bit unlucky because I just wanted to front run the the Like the even numbers right the 50 60 70 whatever. Yeah But I didn't feel so 49 so I just moved it to like right away to like 36.5 or something just Be done with it. Um, but still I was lucky, of course with the with the up thick But there was before I think it was before I don't know the time anymore actually I think I had like 40 trades today. So I don't I don't really remember Wow 40 trades, I mean so on that I mean, so you've got one third on still um, and you've got after you've gotten this move up here Above the swing stop is up to break even where you entered And a fantastic entry. Um, yeah lucky. It's not always perfect, but Yeah, and then do you scale in as well on another fold? Yeah, sometimes I do that. I didn't do that here. Um Because I had enough on already sometimes when I like try small To see if it works or not. Um, then I then I buy Higher when it breaks a level that I wanted to see Well wanted to break So I wait for a little pullback or I just buy market because I have a good average, right from the from the entry below, right? Um, can it depends on what I'm expecting What the s&p I expected before it opened like to test 75 something Um, because I was a high volume cluster from before so I was expecting like 2026 75 And the dex I was expecting 20 2030 I think it just hit 2038. So yeah So that was pretty good. I I unfortunately I didn't hold to that But yeah, what do you do? Um, right? So um, you know, I mean, it's um invaluable to to hear You know your process of, uh, you know entry trade management, uh, etc Also the way that you're using and looking at book map Uh using the book, uh combined with your other trading methods like uh volume profile and footprint together, um the um, uh Oh, what was I going to say about the uh, um You can still see the elbow by the way, you know the 250 lot. Oh, yeah. Yeah, exactly exactly. Um the And then I mean much much higher time frame stuff here, you know, you're also kind of integrating But then looking very specifically at the book at some of these areas. Yeah, um, would you chase? When you, you know, you know, this is bullish news, uh from china Um, and would you uh, you know see this if Let's say you didn't get filled down here Uh, would you would you jump in like with a market buy in some of these areas or would you not Yeah, I just kind of not to do that. Um Because usually when I do it just down takes right away. Um, Yeah That's what I do Okay, so you would miss you would miss the move and look just look for the next opportunity Yeah, kind of I might try it on the little pullback like till uh till the Well, you have a little cluster right at the 54 ish 55. I think yeah So I might like yeah there. Yeah, yeah point Yeah, I might check like there like where it broke off from broke out from. Um But probably To be honest, I would miss it. Yeah Yeah And just just to give like, you know people kind of an an idea, uh, you know from a professional trader Like how often does that happen to you? What do you mean like it you miss it But I don't know a lot Yeah, no, it happens a lot. Yeah. Um And sometimes um Sometimes I do chase it and then I like I like oh no Why did I do that because when you do that when you when you're chasing the decks because I When Europe opens open I usually turn the deck Oh, you're gonna pay When you're chasing the decks it's like you're usually buying the high and then it's Down 10 points before you know it and um I don't know if he you know, you guys know know how the decks Trades but 10 points is 250 euros um And it happens in a heartbeat Yeah, yeah, like it and in a few seconds really sometimes. Yeah um Yeah So I try not to do that. I mean, of course I did that. I mean I made all the mistakes you guys Have made or gonna make. Um, yeah, sure. Yeah It's just really important thing. I mean like uh to to, uh, uh, understand like, you know from From your professional perspective, you know, you um are looking for something specific If it doesn't happen, um, you know, you you, uh, you let it go and look for the next one Yeah, yeah, well at least I try to let it go, you know, I'm also human So I'm sometimes I just go for it and try it anyway Um, but in reality that usually costs money So, yeah, you know try to not do that that often. Um, and you're good. Yeah Yeah, okay. Fantastic. Uh, I've got some questions coming in here for you. Um, so, um Gregory I'll get I'll get back to your maybe your question next week. If you don't mind this will continue on with, uh, Things here or questions here for uh for neils. Um, let's see. Can you go to current time to see what levels? And knows, okay scott. We'll do that in a second here Um, are you taking one or multiple? Are you trading one or multiple markets at the same time steve is asking? Oh, usually I concentrate on one like or either yes or or dax. Yeah Yeah, okay. Yeah Yeah, so that answers your question question. I also look at nasdaq. Um It kind of depends on where where the the best setup is forming Um, right usually I stick to one, you know, it's enough to look at so, you know okay, um Okay, well, uh, let's uh Maybe get to scott's question here about the current market. Uh, any sort of anything that you're looking for here uh, and he's actually, um talking about, uh High volume nodes and spoof spoofing and how how you might be looking at the at the market here at In the current current environment Right now Yeah, yeah more or less the 75 level tested that I was talking about. So I think it could be over right And before the market opened I saw already in the book because we're driven like you have unlimited depth, right? So 26 the 26 80 Had some high volume in the book. Uh, it still hasn't been taken out Um, so yeah, so I would I would now like stop being on the long side I was long the whole well the whole day until the decks closed. I tried to short a little bit Um, they didn't go that well, but they didn't lose. So yeah um, I had to try it. Um but um Yeah, so from now on I I kind of shut down, you know, like for me it's for me it's weakened already, but um, Let's let's take a look Let me look at my chart a little bit. I kind of was shutting it down. Hold on. I mean, that's another just, you know You know great perspective like you're looking for it to move up into 75 and you're basically you're done for the day Like, uh, that's what you you anticipated from the from the get-go Um, it did it and you're you don't you don't really even care, uh after that point like no, I don't know. No No, yeah Well, that's what I mean. Now I don't you know, like uh, like 10 years ago something like that I think I started like I think it's 10 years already. But anyway, then um Yeah, I was I was looking at the market the whole time if it came to my level I just wanted to see it even was if it was at night for me, you know or whatever um But but yeah, you also kind of keep uh, like having a life, you know I was trading sometimes I was trading really trading like 24 seven and it's just like it drives you crazy. So Um, stop doing that and now I just don't care. I really don't care. Yeah, yeah So there's always another trade like always even if you miss the miss the best trade ever the best setup There's always another trade So, yeah Yeah, really really great. Good to great to hear. Um the um so you're you In the morning when you uh are looking at your charts or you know Whatever it is, uh, you know reading the news, whatever it is your expectations or anticipations are um, you uh Outline these kinds of scenarios and then um, that's what you're looking for. Yep. Yep. I did. I uh, like like I annotate my market Proval chart then I so I annotated said 2675 I was annotating well the 2650 of course with the with the european uh At the european open. So it was trading. I don't know where it was trading was trading lower So there was two levels that I wanted to keep in mind also with the expiry like the the whole levels are pretty Usually pretty good. Like quentin the 50 75 the evens. Yep. So that's good with the expiries and with the decks I had 11 0 60 and 11 1 165 and 11 230 Well, they all hit but yeah, um Well, that that was a little bit lucky. I guess. I mean, it's not always always that good. Um but Yeah, I just look at the previous volume like where there's high volume and that's going to be an area Of resistance or consolidation, right? So it doesn't mean that it has to go down from that point But at least they're going to reconsider and check what they want to do with that and um, like Well, I moved a lot lately, right? So if you move I think it probably moved down like From that that point on like five six percent six seven percent. I don't know. That's something like that um, so if it comes all the way back to that point well They're going to be a lot of people like scratching their head like hey, what should we do? Do we do we think it's going to still go to three three k or maybe we should reconsider and go flat or or just even go short um So those points are always going to have a reaction, you know, like with what high volume um So if you try an area like that, even if you're off-site for a little bit usually Not always, but what test is test uh is tested back. Yeah Yeah, yeah, yeah, those those whole numbers, uh Uh The high volume numbers. I mean, yeah, uh, okay. Yeah. Yeah the high volume points from before Like if you look at a weekly profile or a monthly profile Um, and it moves away from that on the retesta. Those levels are usually pretty good. Yeah. Yeah Yeah, but right now um right now. I see uh bits coming in at 65 I see a little lvn also at 66 on the profile But it's going it's kind of low volume till the 57th, right? So um Oh Yeah, it's something like that, but since the 75 hit already My bets are kind of off. Uh That's kind of annoying to say now because there's yeah No, not at all. I mean, uh, that's it's really, um, uh, you know Good to know. I mean, that's what you're looking for now. You're out and like, um And now, you know, the the question here was to analyze what you currently see, but uh, you know, uh Uh, you you haven't even really looked at it or even considered it. Um Can you like zoom it in a little bit like a stretch it out to the The numbers? Yeah that one. Yes. Uh, okay, so Well, there's more downside pressure now, right because you can also see at the bottom you see the delta moving down um It's probably like 2k to 2 ish 2 3k So there's some sellers active. Um, and here at the retest to the 71 50 You saw some offers coming in and the the level kind of hold it after as well at the down tick at the 72 um, so I wouldn't be that inclined probably to uh To go along while I'm still my bias is still bullish um But I want to be careful at this point, you know, um We stretched out a lot already from the lows um So even though I I think it's still like positive. I I don't think it's gonna go to the moon um, so yeah At this point, I don't have anything like really Solid to say I think uh 75. Yeah 75 could still hold, you know, it could still hold It doesn't have to personally have to go higher. But since it's friday and it's expiry. Um Yeah, I gotta give the the odds to the upside still. Um, so 65 holds Um Yeah, I would say we could still see 75 or 80 at the close. Um Yeah, it's it's still kind of low as well. The volume is pretty Low, I think I don't see. Yeah, I don't know. Um So if I had to guess at this point, which it all is, uh, I had to say like if 65 holds 65 63 holes, then I would still say Well, there's a potential of of retesting the the highs. Yeah This is expiry and and friday and people are gonna close out and you get margin calls If you like keep holding and we're up a lot um Too many shorts that need to cover. Well, they are already covering but Probably not all. Um Yeah, that would that would be my my my thinking. Yeah Yeah, no, great. Great to hear. Um guys get get your questions in. Um, uh the Uh, you know, it's kind of a interview or interactive here, uh, you know with neils. Um, yeah, you're welcome scott So, uh, uh, yeah, ask away. I mean you've got the ear of, uh, you know professional trader and what he looks at And how he even you know gets into management here Uh, bigger picture, uh, even smaller picture here, uh and using, uh, uh, you know footprint as well as Volume profile, uh all together So, uh, and then looking at the book map for the book, uh volume and microstructure here Let's see. You can see the algos cancelling. You see that? They're pulling a little bit When it uptake the cancel and when it down taking the adding Uh, you mean right in this little area here? Yeah, yeah, and below like the 69 50 and the 59 Yeah Yeah, yeah, absolutely Yeah Yeah, and they're and they are adding more at higher levels in here Yeah Yeah, that's that's that's interesting Um, let's see here a couple more questions. Um So do you think that the volume on the fdac? Oh, what? Uh What do you think about the volume on the fdacs compared to the uh fdxm? Yeah, well the the the minidacs, um It just trades it's it's just like a arbit arbitration between the the big dag so Um, I don't really like the the lid the the minidacs Um, uh because sometimes I trade it because you can like scale in more, right? Um, just one one five five mini dag says is one big one um But the fills are usually pretty bad. Um If you really want to scalp the minis are pretty pretty Yeah, pretty bad fills actually Um, so I prefer to buy the the big one Because that's the real market. So the mini is mini is just following the big one as you know, so, um Yeah, I mean Yeah, does it answer your question or not really or yeah, absolutely. I mean, it's it's it's very much like, um, uh, you know, looking at the uh, the the micro um Uh, uh crude oil qm like uh, you know, it's a derivative of the bigger contract It's not as it's thin it thinly traded the fills can be kind of odd and strange Um, but uh, it does allow you the scaling which is nice Yeah, yeah, and usually when I scale it goes wrong. So I try not to do that Right or I'm wrong and I don't want to I prefer not to scale in maybe maybe once but that does it um And and and by the way when the when the dag had to flush up till the 48.5 the mini only went to 42 So that's weird. Sometimes you have like different, uh, I mean it was just stops, of course um, but but yeah Um, it's it's a little bit different. I mean if you don't have the capital to trade the big one, uh, yeah Sure, go ahead and trade the mini That's fine sure, but but the fills a little bit A little bit worse or harder to get then on the big one Yeah, yeah, yeah make make sense. Um, let's see here a bunch of questions. So, um, uh, let's see Just a second here, okay Uh, that ticker won't show up on the on the dx feed. Oh, okay. Yeah richard. That's because it's urx. Um, and um Uh, you can't subscribe to uh to urx through through dx feed right now Okay, uh, I don't think though. I think you can get ice, but you cannot get uh urx Uh, let's see I wouldn't if you if you're new, um, probably not best idea to do that Dax training the dax No Yeah, the the margin is the margins quite high and and it it moves. It's very volatile and and uh You know, you can get slammed very very quickly. Um, yep. It's really hard. Yeah. Yeah, it's a very very challenging market to trade um So let's see sj is asking. Um, can you give an approximate idea of your performance? Average annual return drawdown, etc um, and you know, I know that's kind of personal but like, um Kind of a very personal but like, um just, um You know as retail traders like, you know, we uh put together studies looking for an edge and um You know trying to you know, uh risk capital In a way that um, you know takes advantage of that edge So in terms of like drawdowns, uh, they're expected in terms of annual return. It is expected um at a certain range So do those Maybe you can comment on that like how do you how do you look at how do you define your edge? And do your returns kind of match that that um, uh those those studies? Well, the thing is like I I set my risk usually initially on like one on one or one on 1.5. Um, and my my um um, I call it um Win rate is is is high. So when I take a trade it's a high chance that I'm going to win. Um That's why I like the risk of one on one as on the decks at least because if you do if you use a five-point stop on the decks Well, forget it. Um, you get you're gonna get hit a 10 point Less chance, but um, it's just really hard to do that. So um, so first you gotta make sure your win rate is high And then you can set your risk. Uh, um With that, um, so it kind of depends on your on your strategy, right? Yeah If you hold longer, if you if you aim for In the decks for example, or let's talk about yes, most people know yes better, I guess um, like if you if you want to hold for 10 points well You also got a risk at least two probably three three and more likely four to you to get 10 points, you know um so If you if you yeah, it kind of depends So but if you if you just want to get two points Do three points really quick trades if you want to get out asap And then you could could work with two point stops and then your win rate Like kind of has to be like 60 70 percent, I guess To get a really good return And for the rest if you if you hit that Then you can scale up, you know, like then then it kind of doesn't matter at the point If if you got that running then you can scale up and if that goes well, you can scale up and then with its futures You know, you can scale up a lot. Um so Yeah, you got to work on that first and then you can scale up and then the kind of doesn't matter what you make Um, so if you first make like 5k a month With a two lot, then you can make then you switch to a three lot. Um, you also get better scale out opportunities And then you can make seven hall Uh, and and then you maybe switch to a four lot that you make 10k a month Uh, and I said the right, you know, it kind of it depends on your strategy depends on your risk management And yeah, stuff like that. So it kind of doesn't matter uh What someone makes it all depends on how they make it right right No, great to hear. I mean make um, you know, for example, um, uh in the webinars that you know, we we you know Do the analysis and then we look for we anticipate the move Um, but we're usually we're looking at many. Um, kind of lower time frame examples Um, and even in those lower time frame examples, you'll see, you know, uh, where all of a sudden the order flow has shifted dramatically Uh and uh going for one to one like that, um the way that you're trading uh makes makes um, uh, you know, a lot of sense You're most mostly a scalper or day trader so So the what my point is the higher time frame moves Um, you're gonna have to just take more risk. Um, just just like you're saying, uh, so, uh Uh If the rest it also depends on your setup I mean if you're working at home, then your costs are probably probably low Like I said at the desk it cost, uh To sit there is one k a month and you have the systems running 6700 then and stuff like that and you have the fees and so you're To start when you're probably done 2k to start with so First you got to make sure you can make that back Uh, and then I do a profit split with the company. So I have to make more to get more Um, so that that all matter, you know, um So at first you're probably trading at home or Um, so that's good. Then you keep you can keep the cost low um And and yeah from that point on you could like yeah move move up if you if you want that Some people only want to trade from home. That's fine, too Uh could be really handy if you're kids at home or something and then you don't have to leave and so like that I get that um So it's all personal personal and it kind of depends Uh, what what fits you? Uh, yeah Yeah, yeah, no, um, it makes makes makes real good sense and uh, I think sj that answers the question as well Instead of getting into like very specifics. Um, so, uh Let's see here, uh natalia. Um Oh a bunch of questions coming in so, uh, hold on a minute here Yep Uh sulemann. Okay, so these are more about comments. Um Let's see here, uh natalia about Gaps, okay, so, um Do you um, do you do you trade gaps? Do you look for um, you know, um gaps to fill? Setting orders there waiting Yeah, yeah for sure. Um, so there are two things you can do you can like sell into the gap And then or or you can just buy settlement, right? So there are two different things. Um I I I like to to buy settlements or sell settlements when they test it Um, and I always try to sell or buy into a gap um But I'm not really good at that. So, um Yeah, still working on that I guess, um, but I find that harder to do then just wait for the settlement to hit And then either buy or sell if it comes from below or above. Um And do that, um But in essence you can do both but the thing is like he has to it's it's all uh, uh Matematical so if you if you With the e as at least if you have a gap of more than 10 15 points Then the chances of closing they they decrease, uh, significantly. Um But you can run a study on that. I mean then you have to present here. So you can kind of Work with that. Um, but yeah, sure. Yeah, that always works. Uh Usually pretty good Yeah, okay. Okay, great. Uh, let's see Uh, a lot of these comments here are questions. I think he's already answered. I think Roger Suleman, um, a bunch of them here um, scott has a question here about high volume nodes and this is a good question because um uh looking at the high volume nodes or even low volume nodes, um, how do you I mean, do you just set your order there if you have already your bias from earlier? Um, or, uh, do you, um Start to uh move that order In relationship to what you see in the order flow, um around that area Yeah, uh, good question. Well, I I tend to watch if a level holds Uh, there's always a pullback um So I just wait for that and maybe have like a few takes worse price But then I at least know that at the level at some point hold it Um, I'm sure it can make a new low, of course, but um, I I want to see it hold First and then I'll enter Okay, so you look for a retest on it Yeah, micro micro retest like a little like a tiny little double bottom like like something like this This right here for example somewhere like what's on the screen or or down here a triple little bottom Like that one. Yeah. Yeah. I got some volume in and then and then hold, you know That's what I would look for. Yeah. Okay. Yeah, fantastic. Um, I think that answers your question there scott um It's a great question because um We've seen it so many times where we know that there's orders there We know that there's traders interested in the low volume nodes or high volume nodes Uh, and the larger players know that too and they'll spike those areas Oh, yeah, they can they can blow through it. Yeah Yeah, or or spike it through and then just massive volume on the other side To drive it away as quickly as they can Um, so how do you handle those kinds of situations? Um, you mean that I buy it and then they they they smack it down. Yeah Oh, I stop out Okay Yeah Yeah, well, I think it goes fast then I stop out If they try to do it really slow then I then I like probably size down And then wait for that that That order that moves it down to fill And usually when that gets gets filled they usually don't want to fill and then they It tends to be the low of that move. So then I buy it back but Um, at least in the DAX it works it works pretty well Uh, they they you you usually see a lot of orders like big orders moving it down And at some point it's getting filled and that's it. That's the end of the move Um, so I look for that as well, but usually, um I like to get out for us and see how it reacts. Um I I kind of like to Have a low Well, I try to have a low risk, uh, provel. Um And You can always get in later, you know, that does yeah And you're gonna miss trade sure, but that's true But and I'm probably pissed for a minute or two. But um, yeah, you know, yeah I I hear you. I mean like it. I mean you have to take the risk. Um, yeah And it depends on what what your strategy or method is. Um, yeah, and that that's all you can do. Um, So, uh, uh, no, it's a it's a fantastic answer. Um, but see, um, a few more questions and then we'll call it to call it a day here In a week, um, let's see. Suleiman has asked a couple of times So I skipped over it here any strategies that you find particularly On the urex or dax, which may not work on on the es or nq um Um Not not not well the dax sometimes has like the really big orders trading Like usually in the book there's like 10 lots per rule But sometimes they they put in like a hundred lot or 150 or two in a lot um And I always want to see how that plays out and that usually gives a good move when it fills um You don't really have such setups in the s and p and s they also sometimes have big lots, but um It trades different around it. Um Probably also because the book in the dax is also like fairly Empty, you know Yeah Those so those big orders can really move the market. Yeah, especially if at the lows Yeah, if you get like sometimes at the lows they throw they they offer a 150 lot and I'm like, oh, whoa then I'm paying attention and then I see when it's trading If it's traded then I want to buy it, but I don't want to see a new low after that So if it's a new low, then yeah, I'm probably going to say goodbye And uh, thanks for thanks for the airport, but um But often that gets a really good move to the upside for at least 15 points um So yeah, I do look for that and that doesn't really occur in the nasdaq and the s and p Well, the nasdaq sometimes nasdaq sometimes has also 100 lots or uh sometimes I think I saw 300 lots sometime, but um, yeah You don't see that often and um Yeah, it's a little different around it than than the dax, you know I would say that would be a difference for the rest Well, the dax is a little bit crazy. It moves a lot um So that too is more volatile the whole throughout the whole day um Yeah, that's about it. I think yeah, okay. No, I make makes makes really good sense I mean that thinner market and then you see the bigger players like that's gonna that's a really big difference Oh, yeah, between the two markets I mean s and p is so so thick. Um, but Well, recently it hasn't been but uh No Yeah, yeah, it's been funny Um, let's see another question here. Um Just more or less kind of your typical target and stop loss on the on dax or f dax On dax uh on the dax. I usually have like a 10 15 point stop uh depends on Hagguban tree is and Well, I try to keep this up tight like before like below lows and above highs but Recently they stop me out and then turn around so that doesn't really work. Um So i'm Still kind of looking for a way around that because sometimes it runs 20 30 points or in a in a blink of the eye and then i'm like, oh, okay um Yeah, so then you're ready. You stop will be 10 point and then run another 30 points Well, if you can do the math then you're down 1k without doing anything like Very wrong. So, um I want to prevent that Um, but it's also annoying that they just take out just stop and turn around because well, of course, they look for stops That's what they do um, but the goal is not to be in that so, um So that that's it's a good question, but i'm still sometimes playing with it and you also don't want to risk a lot every time Um, like let's if I have like a two lot on in the in the dax then Uh 10 points risk is 500 euros and um, yeah, i'm something depending on the The time of day and then how the market trades I think 10 points should be enough at that point uh to see if you're right or wrong, but It depends on the structure of the market as well. So yeah Yeah, makes sense. Um, yeah, okay. Uh, let's see. Uh, we'll end here with natalia She actually had a couple questions that I didn't cover one was about just, um, you know, kind of overall like, uh, um Bias in the morning that you set up. I guess it sounds like it's mostly through your volume profile And uh, uh, and then looking at maybe footprint and in volume. Um, and then and then book map Um, and then the second question is um, your favorite setup and how often do you see it and trade it? Ah um, well My favorite setup is the is the is the retest is a retest of the volume Um, after a bigger move Um, by the way, we're moving up, right? Yeah, exactly. Yeah, and they they're canceling the offers so, you know Um, so if you guys paid attention you should have bought 67 I don't know But um Yeah, so um, and now I forgot I was what I was saying, but um about your favorite setup is that No, it's a pullback to the to the high volume, uh, or at least like the volume point that where people are wrong So if you want to get into a move, um That's usually good good entry point to to go with the market instead of going against it Uh, you can also fade the market like if you probably would have Well, I don't know. Um, I don't know. I wasn't in it. So it's 75. It was a level of mine So the test to 75 on that last move after a down take here Probably a setup. I I don't know. I mean it's easy to say now. It's I can see it working. So Uh, yeah, I probably would have tried, you know, like probably probably I don't know So, yeah, so that that's one thing that I probably did. Uh, let me see the volume there You know a lot of the most volume was at 16 That's 73 73 3 quarter So that was the first move and then it up the so No, I don't know if I did that well, so probably would have entered 73 75 Then I was like, oh, it's how happy I'm going. It's going to 72 50 And then I probably won't be that happy at 75 the retest, but I did I did see the the offer there. So that was good. So Um, while my bias was still bullish I probably I don't really want to say that because it's easy to see now since it worked, but still let's say I did try And yeah, I still would have put my stop above the high Um, and when it down tick below the 75s, I would have stopped would have put my stop 75 Uh, and scaled out probably 71 71 50 or something and then uh, just let it let it run Um, yeah Yeah, something like that, but Yeah, I it's always hard to Or too easy to say when you see the chart, you know Right, right. And and especially to I mean like You may take a shot at it. Um, but uh, you you're you're done for the day. Um, yeah, so, uh, uh Yeah, make make sense. Um, yeah Um, okay. Well, uh, I think that uh, uh, that's everything. We answered all your questions here. Um, uh, you know, um, let me put into the, um Uh Into the feed here. Uh, if you are guys if you guys are interested And uh reaching uh neils here more information. Uh, there it is. It's all in the in the chat there So I gave you his Uh, his website, uh, his twitter handle there, uh, and then his affiliate link there for bookmark So you guys are all set with that um, and um Any any uh partying, uh comments, um uh, neils or You know, thank you. Thank you very much. Sure. Yeah, you're welcome. No. Well, um, when I start talking about it I think it was trading at 67, right? So I said like, yeah, so when it's trading testing 66 66 65 I probably want to go long because the bias is long, right? Um, and it's a low volume that's tested in previous our previous volume and Um, well, I can't comment on this one because I called it in real time, right? So Uh, it did trade it higher. Uh, there was some offering at the seven 70 even Um, so I probably would have scaled out just before that like 69 50 or 75 So and then Right now There's there's still offering in now. I see like a little bit I I kind of don't want to give up too much. So my start would be Let's say let's say if I got the 68 right something like that I I don't want to see it trading below 69 Yeah, yeah, probably just a break even stop on this on after the scale out Yeah, yeah, and and the exits exits probably Well, if I had the three lot then I would scale out 69 50 and or 75 ideally, but let's say 50 and uh, two points above that so 71 50 Not sure if you got a fill there 71 50. Yeah, you probably wouldn't have gotten filled there Now you wouldn't have no, let me No I mean just 43 traded up there. Oh, yeah, there's nothing. Yeah. No, that's no Yeah, yeah, you probably missed that one. Yeah uh Yeah, no, uh, just uh, just great stuff, uh You know that to kind of bend bend your ear a little bit on, uh, you know, how how, you know A professional here Looks at it integrates it with their higher time frame analysis and you're trading from the floor Um, uh the costs involved Um, all sorts of great stuff here. Niels. Thank you very much. Yeah, you're welcome. Yeah No problem All right. Well, we'll we'll do it again sometime soon and uh, everybody, uh, every everyone have a have a great weekend and, um We'll catch up next week All right. Okay. Thanks Niels. Yeah. Thanks Bruce. Thanks guys. All right. Bye. Bye