 Good morning traders welcome to the book map pro trader webinar series today's the last day of the series We've had all week long Today, we have Bennett Stein. He's a cryptocurrency trader and he's going to talk about order flow setups within book map 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 We've had Bennett once before he's been trading multiple markets for over six years and crypto for three years Always fascinated by with the psychology of the masses and how it applies to the markets His YouTube channel Bitcoin trading challenge maintains a focus on alternative strategies Traders can use to profit from various crypto currencies He has recently created an order flow Training course exclusively for Bitcoin Futures in book map and this will it's not on our marketplace at the moment, but it will be shortly so More education for you guys on on crypto currency exchanges, etc Here's his Bennett's contact information here You've got his Twitter YouTube email website and then special offers from Bennett from book map So if you're interested in that you can you can click on this link here I will cut and paste Copy and paste and put into the chat throughout the webinar His contact information take a look right now. I just put it in All of this stuff is in there right now. So you don't need to copy it down or anything like that Let me just turn it right over to Bennett and and he'll take it away Sure. Well, good morning. All right, let me see I'm gonna Try to share my screen soon Okay, go to meeting Okay All right. Well, good morning everyone Yeah, still don't see your screen yet. Yeah, do you see it now? I think it should be showing so I clicked Show no No, I do not okay now. Now I do now. I do great. Okay Well, glad that's working. Hello everyone. So I'm actually going to start this off with a presentation, but Let's do something a little different. So Recently I have been a pretty big proponent of any trading system It's really important that you Are quite focused and the best way that I found to be focused is just a quick breathing exercise So if you guys want of course, this is optional We are just going to do a 15 to 20 second breathing exercise through the nose and After that, we are going to go into some examples where I hope everyone gets all of them, right? but Maybe the breathing exercise will help you With that. So let's just begin by just breathing through our nose for 20 seconds now Let us begin. Okay. So now I'm gonna hit you guys with the first Question so right now you are looking at a sample of XBT USD from Bidmax now if you were to look at this setup right here, would you rather be more bullish or bearish? I'm gonna reveal what the answer was after but I really encourage you guys to Do your absolute best to determine whether this is bullish or bearish Actually, let me interrupt. I'm sorry just for a moment here because the the resolution of your screen is It's it's quite I think you're on a laptop, right? Yeah, yeah so everyone like on the top of the Toolbar for the go-to webinar there. It says zoom so you can click on that and then there's different options in here actual size scale to fit and then you also have zoom by a hundred percent or if you zoom to and there's a drop down there, so You know, maybe you want to make that bigger or smaller if you zoom to a hundred percent Then you can look at a bigger picture here or get a bigger Resolution here. Okay. Yes, sorry guys if you guys can't can't see it and you're gonna have like squint your eyes But what we're looking at here is XBT USD from Bidmax now What do you think is going on here? Do you do you guys think that this is more likely than not to be bullish? Or do you think this is more likely or not to be bearish? I'm gonna give you guys 20 30 seconds to determine this one and then I'm gonna show you guys the answer and we'll talk about what was happening and why it happened Okay, so if you guys want to post in chat your your prediction Just don't look up the answer because it's pretty easy to see what had happened to Bitcoin But I encourage you not to do that because you know, that's cheating Alright, so hopefully you guys said that this was more bullish than bearish because lo and behold boom So if you guys actually look at where it says 24th of September 24th of September at 7 o'clock That was the bullish move that you have been looking at before but it kind of pales a comparison to what happened More recently where Bitcoin flew up a few hundred dollars, you know a few percent So if we go back and just let's go analyze here. What was going on here? So the first thing that I can notice is that it looks like the market buys are clearly dominating over the market sells And this kind of situation. I'm not looking to short I know there was a high volatility move up at around 24th of September to 7 o'clock That filled many offers, but this to me just does not look like a situation. You want to short when you're using order flow My best advice is I know this is pretty cliche, but it's a trade the trend if you see a significant amount of market buying Typically, I would give that a higher probability that price is just going to continue So if this was in fact bearish and you were looking to short I would actually rather short if price was going down below say at least 10,350 it began to put pressure on Previous resistance areas that could turn into support around the 10,340 10,350 area But overall, this is the kind of setup that you should be looking more to buy or at least be bullish And as you can see, this is what we got here So if you had bought on the pullback that had happened around the 10,400 level that wouldn't have that would have worked out quite nicely Now let's go to one that's I think a little bit tougher because this is on link I know it looks like it's a little bit all over the place But what I want you guys to focus on is really the market buying and the market selling so on chain link here Which is another cryptocurrency one of the largest market caps Do you think that this to you looks like a More bullish setup or more bearish setup So if you guys got the first one right, I mean and you get this one right to then You're in the upper 25% Let's see if you can do it. So what's going on here? So we'll give you guys 10 seconds for this So this is actually a really interesting situation because it's near It's quite similar to what happened before we can just see a dominance of market buying more recently That's just dominating over the sellers I don't really see much seller strength besides the move that began around 440 and then went down to about 515 that move looked moderately strong But it was countered quite quickly by the market buy at 530 So overall, this is not something that I'm saying is quite bearish and price just soars, okay But in this situation, what's what's going on now? I'm actually gonna I have another answer to this So what happened after this but I want you guys to analyze order flow right here and tell me what's going on And do you think that that large market sell is going to lead to a further sell-off? Or do you think that that's just noise not a signal and price keeps ripping up? So there is a correct answer to this 100% and I'm hoping you guys select the right one Okay, so hopefully many many of you smart order flow traders here said This looks very very bearish Price actually trickled down after this. Let me show you guys. Yeah, so here's the price that price really trickled down We went from a previous picture around 9.7 9.65. We went down to about the 9.3 area So why this happened? Well, we have Middling to weak market buys as evidence from the the green bubbles there And then we get that large large large market sell that leads to a rapid sell-off now something that I haven't really talked about yet on On a book map webinar before that I really want to go more into is trapped traders So let's go take a look at this what I always love to do is to identify certain price ranges They likely contain either trapped longs or trapped shorts So what do I mean by that? Well, if you go look at the trading that happened between 6 and like 650 You see, you know price was ranging right there What we know for a fact is that both shorts and longs were likely entering so any shorts who had entered got trapped because Price ripped up without them at about 7 o'clock a little bit for a little before 7 o'clock and this traps them in their positions So the effect that this has is twofold One when we see that a lot of trapped shorts are trapped at lower prices That can indicate that that point will be a future support. The reason why it's a future support is this If there are many trapped sellers many trapped shorts when price goes back down to where those shorts are break even A lot of them are going to be inclined to buy back or to exit a break even I mean if you've ever been in a losing trade before let's say you're down 4% on your account And then price magically just goes right back to your break even I think that a good number of you are probably going to just want to exit and say, oh man Glad I got out at a point 3% profit. That's just because of how human psychology works We are attracted to making money Whether it's 0.3% or 30% we hate losing money and this is something that the markets will take advantage of So what we see here in this picture and why I'm making such a big fuss out of this is go look at what happened around a 30 All of those traders up there are trapped and any of them who had continued to add to their positions as price tripled Lower are just getting deeper, you know out of the money deeper trapped And we can actually kind of see that because in that kind of sell-off go look at the structure of sells versus buys It's super interesting We have smaller market buys that could be trapped traders trying to buy and get a better average price But then they were smacked down by larger sellers like every single time as you can see here and also they didn't really have much Opportunity to get out of their trades of break-even. So if you start to see this kind of formation It's more likely than not going to be bearish Bells dominating over buys trapped long to the top. This is something that is Is quite bearish. Okay, so I want you guys to keep that mindset and let's go. Oops Hopefully I didn't flash all you guys the answer Well, if I did then you guys got a free one here But speaking of trapped longs and trapped shorts I want you guys to look at this very very zoomed out order flow. This is a lot more long term This is the trading over a week seven days now Especially focus on of course the market sells versus the market buys but also the the liquidity and where it is At at the current price is around September 3rd So in chat or you can just you know say it in your mind Do you think that this is more bullish than or bearish and I challenge you to go beyond that if you say bullish or bearish I want you to tell me where do you think traders are trapped that could form a future support or a future? Resistance. Okay, so I'll explain that and I'll let you guys have five seconds to answer so best of luck So this is quite bearish price tanks and What we can see here is that the previous picture we had price at around I know that the the axis is a bit cut off. That's what it says like 1128 But you know that that axis is just a little bit cut off. So don't worry about that But what we end up seeing on the previous picture that I want to show you guys is look just how dominant the sellers work Do you see any strong market buying between September 1st and September 3rd? Any? No, I See nothing at all that indicates to me that this is a kind of setup that I'd want to buy from if people are Consistently selling and selling in quite strong form That's probably more likely than not just going to push prices lower And then what we see is liquidity is added around the 1115 1114 price area at around, you know Later September 2nd. So what does this mean? Well, when we have when we have a large amount of bidding depth added The question that I always ask is this is price respecting this limit order and the answer is absolutely not If price was actually respecting this limit order then what we would probably see is a stronger market buying and weaker market selling because people are convinced that there's a lot of demand and And then B we would also see price distancing itself from the limit order because a lot of other Traders would be bidding higher and the price should be higher than this But instead what do we see? We see heavy market selling. We see price completely unable to go above 1150 this overall is just quite bearish and A trap traders if you are curious about that are probably located around the 1200 area That's where a lot of the trap longs will be we can actually see some market buys around there, too. Okay so you can see the price just completely sells off and This is this is a type of situation where you would 100% just not want to Not want to buy. Okay, so if you learn everything from this presentation The most important thing for you to know is this if you see just dominant seller strength It's probably best not to buy if you see dominant buyers It's probably better not to sell. Okay, and if you want to go a level deeper Then you can also add a trap trader analysis to that to locate support and resistance points Okay. All right, let's go do another one. Oops. Okay. I think I just flashed the answer to answer four But hopefully no one saw that one as well What's going on here? This one is pretty similar to some previous examples what we're looking at is the trading that occurred in August over a two-day period so Before I start giving away, you know what happened here. I'm gonna let you guys just Look at this and think bearish or bullish Do you think that this is just a oversold price where price is just gonna rip right back up? Or do you think that this is just seller strength and price is just going to rip lower? All right, I'll give you guys 10 seconds for this Okay, so This is showing very strong seller strength, which to me gives a higher probability that price falls um a thing that I talked about in my order flow course that I want to show you guys is Whenever I look at an uptrend or downtrend, I have a different name for it any uptrend So such as what happened like August 2nd August 10th at like 17 o'clock 18 o'clock you can do see that weak bullish run up from about August 10th 17 o'clock up to about August 10th Over where the vertical line is there just isn't much buying in that demand run So when price goes up, I like to call that a demand run and when price goes down I like to call that a supply run and one easier way that you can look at order flow from book map is To look at a series of demand runs and a series of supply runs and just determine Whether the sellers were stronger during supply run or were the buyers stronger during the demand run So if we look here the the supply sell-off from August 10th at around 10 o'clock To the low at around 17 o'clock on the same day the sellers look pretty strong The we can see some pretty large red bubbles and then on the move back up to higher prices We just do not see the strongest market buying then we see another pretty strong sell-off At a that began about August 10th 22 o'clock and then you get this Boom price just tanks again. This is a situation where if you notice this this is not something that you're gonna want to buy I mean, you can you can do whatever you want, but This kind of situation to me is one that just screams bearishness and Another reason of that is the disrespected limit orders If you look at the limit order that was placed around the 11,500 and the lemon over limit order that was placed around the upper 11,600 the bids do you think that those were respected in any way? Did you see any strong market buys near those bids added? Did you see price distancing itself from those limit orders? Not at all Prices instead climbed closer and closer to that liquidity and that to me is just quite bearish, okay? All right, so hopefully all of these little lessons helped and now we're at the final example, so definitely take your time with With this one here. This is much shorter term But what do you make of what's going on here? Would you rather buy here or would you rather sell here if you didn't have a choice if you had it as buy or sell? What do you think the correct option would be here? This one's probably the hardest as well. So raise yourselves I'll give you guys five seconds Okay, so the answer is drum roll, please Oops and here you go price actually moved higher So let's go back to the previous picture and let's go to Cypher. What's going on here? So this is a situation that actually shows bids being respected So a lot of other situations where we see those very strong sell-offs What we notice is that we have a large amount of bids added and then we just see no market buys and we see price not Distancing itself from those from those bid orders here. We see the opposite. We see some pretty strong bids coming in I mean Pardon me. We see some pretty strong market buys coming in that actually are larger than market sells If you look at the most recent string of market buys during that demand run we actually see some pretty strong market buys The sellers do not look too strong and they don't really look too energetic to push the price below Let's say the liquidity around ten thousand six hundred and Consequently, you know, boom this happens and price does in fact soar You can see that we have a large bids that are buying out a lot of large offers and That to me is typically quite bearish when you see very very large market buys just buying through a bunch of offers that to me tells me that the market is more likely to not bullish and Look what happened. All right So now I'm gonna do a short five to ten minute presentation on what can we do to make money on order flow? And I'm actually gonna prevent some method Present some methods that are a little bit different But let's go through that and then I'm going to take questions and we'll go live to the charts So there are three ways that you can trade cryptocurrency order flow. We have spot trading We have futures and perpetual swap trading and we have options trading spot trading is when you buy a cryptocurrency and you're buying it with a fixed amount of Cash or fixed amount of Bitcoin and you're not using leverage. You're not using margin You just you just buy something with your own money So consequently you do not have any price of a margin call You don't have any price of a liquidation either So the big advantage of spot trading for order flow is you can hold indefinitely But that could be a double-edged sword because a lot of traders who actually do spot trade an issue They have is they buy something and then after declines like 60 percent. They just hold it forever Another issue with spot trading is you cannot short you can only go long So this is better. I would say for longer-term order flow trading if you're worried about Getting liquidated This is definitely a better way to do it But to be honest with you guys if you're trading order flow, this is not the main method I'd use Another method that you can use is perpetual swaps and futures. So quick note on what perpetual swaps are in crypto Perpetual swaps are futures contracts that never expire Futures contracts are are kind of like traditional futures contracts in different markets Where these are contracts that will expire at a predetermined date now perpetual swaps carries something called a funding rate And this funding rate is something you either Get paid or you pay out Depending on the difference between the futures price and the spot price But you can go look up funding rate if you want to go learn more about that But really this is going to give you access to higher leverage You also get lower fees than spots and this is a lot better for shorter-term trading because it's lower fees and a lot Of the times these markets are far more liquid than spot trading markets There is a pretty big drawback though as some cryptocurrency traders will probably attest to you can get liquidated liquidation is when you enter into a perpetual swap or futures contract and if the price goes against you enough You lose all of your margin. What this means is that if you use a thousand dollars as margin or collateral And you take on a twenty five thousand dollar short position Price rips up eight percent. You will lose that entire one thousand dollars. Okay, that's called a liquidation And then also funding rates can make things just a little bit more complex, but they're not they're not too complex Now let's go to something. I've never talked about really ever with order flow is something that's completely Really new, but I encourage you guys to actually look at this Options options options options options trading is a little bit more complex It involves buying and selling calls and puts so let's go over this and why would we want to use this for order flow? This gives you access to leverage It allows you to limit your risk and get unlimited upside if you buy a call or buy a put It can also be a really this is the most important part here. This can be a really good tool to use when taking reversal trades based off of order flow so with an options contract when you buy an options contract the Largest the largest that you can lose is just entitled to the premium that you buy. So if you buy a call for let's say ten dollars for one call contract on Bitcoin and Let's say price continues to go lower and your call expires worthless You only lose ten dollars, but let's say instead price rips up one thousand dollars You make a fair amount of money from buying that call with a fixed risk of only ten bucks So that's the really big advantage of buying options. This also can give you more flexibility methods to profit Because instead of just saying hey, I think price is going to go up or hey I think price is going to go down. You can actually make trades based on Profiting from wherever price goes buying volatility or you can also take trades based on time so if you think that Volatility will be low and that Bitcoin isn't going to do anything special at all then you could it's risky But you could even short a call and a put to try to bet against volatility The drawback of buying options is that time works against you in a futures contract or a perpetual swap When you're trading order flow, you have really as much time the world as you want You know nothing about funding rates But in options your your options going to expire eventually That's a guarantee and that's something that can be either quite good or can be quite bad Final thing is the learning curve of options is is pretty famous to be quite complex This can make it pretty tough to master But I do encourage you guys if you haven't looked at options yet They're actually a pretty cool way that you can trade based off of order flow All right, so now I'm going to go to two versions of book map one version of book map that hasn't been introduced yet Let's go to it. So this is a beta version of book map So this this is called book map web and what I'm actually going to do guys is I am going to send you guys the URL There you go So you guys should have all gotten that URL if you want to go look at that too So this offers three contracts of crypto. We have aetherium Bitmex Bitcoin Bitmex Bitcoin Binance Futures right now You are looking at the last day of order flow from Binance Futures And what I really like about this is that you have a ton of information at your fingertips If you want you can even look at the order flow of the past month with this and this is just really interesting Because I mean you can just see just how strong the sellers are around here Which would have been a pretty good opportunity for us to enter a short or to buy a put you'd see how the liquidity was filled here And how liquidity was continued to be continuing Continuing to be to be filled here and then we can see where the market buys began to take over and this would probably be an Opportunity for us to think about buying at around September 12th September 13th Where you finally begin to see some green bubbles instead of you know these constant red large cells this would be a time for us to buy and Really, it's just really nice to see the last month of order flow. All right, so let's go back to the one day This is something that I always get very excited about because I am obsessed with data I love trying to get as much data on my hands as possible Because I believe that if you if you also are a fan of data It gives you two advantages one is practice what you can do with this is you can go back in time And you can practice the order flow from any time you want. I know this is in beta So this might not work, but if I hit August 12th See if it takes me there. I don't know. I yeah, it's it's still in beta So it's it's a little bit buggy now, but it it won't be in the future likely But what I love about this is that you can practice as much as you want like if I want to do this Which I would love to okay. Hopefully this doesn't cause any seizures or anyone to puke out their coffee Just close your eyes if you don't like the flashing colors Okay, so what we can do here is I can say, okay, how can I best utilize this data? Well, guess what we Kind of know what's gonna happen in the future, but we also kind of don't this can give you Opportunity to practice how good you are at trading order flow. So if you look at this marker right here I honestly guys, I don't remember what happened September 18th. I just don't remember You know, I don't have a photographic memory of what happened, but we can even start to decipher Huh, what's going on here? Do we think that this is more bullish or bearish and we can get a definite answer once I scroll to the right? So this data can give you a great opportunity to become a lot better than other order flow traders Because you're constantly practicing and that constant practice is going to give you better pattern recognition. Okay So if I look here, do you guys think that this is more bullish or bearish again? I can promise you I don't know the answer although I am leaning one way that I'm not gonna say yet But let's say in the short term Would you either buy this market or sell this market and if you're brave enough you can post it in chat? But again, don't look up the answer. That's that's no fun But do you think that this is do you know, this is bearish that you know that this offer is gonna make price We're doing this is bullish. We're gonna burst right through 11 11,000 Okay So hopefully a few you have made up your mind, okay I could be completely wrong with this like completely wrong, but to me this looks a little bit more bullish So I like to think probabilistically so what that means is I'm not married to the idea of this being a hundred percent bullish I'm not married to the idea of this being a hundred percent bearish Instead the way that I view the market guys is I say huh? It seems to me that from this setup, there's about a 66 to 70 percent chance that the price goes up. Yes I made up that probability But the point is to tell you guys you never ever ever and I should totally stress this You never should think in terms that price is a hundred percent gonna go up or a hundred percent gonna go down If you do that that is a way to lose all your money Okay, you should always be assigning probabilities that are not a hundred or zero percent of how likely it is for price to Go up so I'm giving this about a seventy percent chance that it will rise But I could 100% be wrong and that's okay That'd be the 30% chance Okay So it looks like I would say I'm a little bit wrong so far, but let's see. Oh, no, no, I am not wrong Okay, well complicated. I guess in the short term. I was very very bullish But price did go against me a little bit So if I had entered it around the let's say around the upper 10,900 and then price goes down to the 10,800. I probably would have held my position I know 2020 hindsight, but this just didn't guys this just didn't look really bullish I know that we get this kind of weak sell-off But this week sell-off is actually a blessing in disguise because allows us to buy lower So my 70% probability that price goes up would probably still Yeah, probably be maintained here and price does in fact go up Because it's just this offer just looks like it was about to get burst through now We see some some selling here on on this bidding right here and this to me looks a little bit Bearish, let's see. Yeah, so price is just kind of ranging here But ooh, we have a large bit added here large large amount of that coin being limit limit bought here fitted here This will look like price is respecting it though. Let's let's get a little bit more Okay, I give you guys like no time. Well. Yeah, this was quite bearish We we do get some decent market buys coming in but then this large market sells just like nope Goodbye to your market buys. So at this point in time, I would say that there is hmm If I want to assign another probability of the chance that price falls or rises I actually want you guys to think this to think this one through Do you think that there's a greater probability that price rises from here or greater probability that price falls? And if you want you can even assign your own probability You could say I'm moderately confident that price is gonna rise I'm gonna give it a 60% chance and if you think that there's a 60% chance that price rises then your Your size of position should be smaller. If you think there's an 80% chance that price rises then you can enter into a larger long But the important thing and I keep stressing is you should never be thinking there's an 100% chance that price rises Because that's possible anything can happen and anything will happen That's why probabilities are best hedge against the future Price does absolutely nothing here. Okay, come on price do something So it looks like that this went down So if I had said this is a 60% chance of going up and a 40% chance of going down That's okay if it goes down because I mean, it's not like I said There's a 95% chance that price goes up. I said there was a 60 right now We see a large amount of bidding added here, but we do see something that looks moderately bearish Okay, let's see Yeah, so it looks like price goes up and back down this still to me looks a little bit more bearish I don't know what you guys think I could I could be completely like off here But I would just give it a greater probability that price will fall rather than rise And yay. I oh man Boy, was I right? Yep. So it looks like price really does say Bennett You are you were correct on this one. You may have been kind of wrong in the last two, but Oh lord, am I correct? You know here and hopefully you guys are too Let's go look at the limit orders here before I take you guys to live data There are a lot of bids being added here, but I have to stress you guys. These are not being respected Why are they not being respected? I don't see any market buys anywhere around here that excite me that make me think that price is just going to moon or You know spike what I see is just a lot a lot of large bids that just look like they're lambs for the slaughter It looks like a lot of these bids added are just very likely to get filled Um because of the strong market selling that just knows no bounds, you know And then the buyers are just unable to really do anything impressive. So we get a sell-off continued, right? And an interesting thing to think about here and the final thing I'm going to tell you guys is think about trap traders This is more complex for sure and again, sorry for the constant ship thing, you know thing here, but Where do you think a lot of trapped long traders are? I'll bet you guys there are a lot of them around here A lot of people who had entered into long positions are here and that is likely to cause resistance It will be tougher for price to just rise or beyond this price point of the future Because of how many longs are probably here and if price ever goes up to that point, they're probably going to sell off at break even, right? So we're going to need multiple touches before price can Unless we shake up the longs of course and you can actually kind of see that here Uh, I know that that is a lot of depth there So you can actually see here that price just is unable to go higher and I'm pretty confident that the reason prices did not go Any higher here was because of how many trap There were so many longs that had bought here that if price had gone any higher, it would have probably just been sold off Bennett, we're not hearing you. I don't know if something happened to your mic Or at least I can't not hear you Uh, can everyone hear right? Hello everyone here. Yeah, Bennett. Yeah, you you cut out there for for a bit. Uh, just just about uh, you know 20 seconds or so. Oh, sure. You're back though. Oh great so, um, that was a little fun for a into the web version of Of book map, but now let's go to you know, the the the best version of book map Which is the desktop version of book of book map. So you're looking at the past seven to eight hours of data From bit max. I'm going to talk about this And then I'm going to field any questions that you guys have So if you guys want to ask me any questions about order flow or about trading options futures or spot Or really what the best strategies that I think are for uh for trading order flow, you can you can just post in Chat and uh, I'll try to answer them So what we can see here Is overall this looks to me quite bear, uh, pardon me quite bullish Me just seems quite bullish if we look at the beginning of this selloff and then that uh began this demand run around here If you look at what happened around 25th of september at around uh, six o'clock We can see that a large offer was added, right? You see that large large offer that was added around the prices of 10645 What I love to do is a little test when you look at a large offer or a large bit added Go look at how price reacts immediately to it. Does price climb closer to it or does price go farther away from it? Price climbing closer and closer to an offer increases the probability that I think I mean price is going to just burst right through it and rise into a uptrend of course So that's what happens here. The very second that this large amount of supply was was added. What does price do? Guys, price just rises. It does not care Price just doesn't really seem to care We do have a bit a large bit added at lower prices, but price seems to Really really care about this seems like this demand really just push price higher And even when we get to here at the at this point around 745 eastern time We get that close to this offer and what I've noticed is that this offer was placed what like, uh 80 70 80 dollars away from current market price at the time and prices continue to climb closer to it So this to me is quite bullish and this to me is a sign that price is just going to probably burst through the offer Which it did so that's something that I want you guys to Know about and I also talked about this in my order flow course. You should always analyze How does price react to a large amount of demand? How does price react to a large? Amount of supply added if you can discern that that will help you in a lot of your trades And it can also provide you with a greater probability that you know price will go against it Okay Then we see here is we do begin to see that the market sellers are getting a little bit stronger As you can see and I'm actually going to zoom into the last hour of trading Just to show you guys that So it looks like the market sellers were getting a little bit stronger But then we see this demand that this demand run that just is bursting right up Now the current order book is leaning toward offers. You can see that from that thing that says book volume It says minus, you know, oh It's constantly changing But typically one of the most bullish signs and this might sound a little bit strange But one of the most bullish setups in order flow that I have noticed Is when you see a large amount of offers at higher prices, but price doesn't care Price just keeps going but bought up higher and higher and higher and higher That's a sign that price that that the market buyers are much stronger than the limit sellers And that's a sign that price is going to probably rise And I think that's kind of what happened here, especially around here We can see that there's a large amount of offers added around here clustered But does price care? No price just gets barred right back up This is a sign right around here for potentially taking a long scalp a short term buy The reason we probably want to look for a short term buy and maybe get a pullback to To enter in on is price seems to not really care about all these offers Even though all this supply is here price is able to just burst right through it And this is a sign that the market is bullish, right? Now if we look at even more recent if we wanted to turn Hey, can we predict the next five minutes? Can we predict the next 20 minutes? Well, my answer is yes So actually I'm going to take a look at the 30 30 uh timestamp. Oh perfect Let's go analyze this So to me this still looks bullish. Uh, we This just to me looks quite bullish. I'm not really seeing much reason to sell here I'm seeing a lot more reason that this looks like price is going to go higher It looks like the market sellers at this current moment are unable to do anything Worthy, I mean anything worthy to note It just seems like the market right now is tipped in the hands of the buyers now In order for that to completely switch I would have to see a very large market sell So very a very large red bubble and I'd have to see potentially some bids being added And then price just trickling lower filling bids. Am I seeing that happen right now? No No, no, what I'm seeing is some offers being added and price doesn't really seem to care Uh, it seems like although these offers are being added price is getting bought up nonetheless And I can actually show you guys that in a super short term thing right here. This is like beyond short term but Let me actually uh Do this. Oh perfect much much better. We can even see that this offer was pulled So to me in the short term anything can happen price could go down 20 price go up 20 But I think in the next hour in the next half hour to an hour I think price is more likely than not to continue rising and filling liquidity at higher prices Okay, guys, so that has been my analysis of the current market, which is short term bullish And we've talked about bookmap web and how you can use bookmap web not only for live data But also for practice because if you if you've seen any of my videos if you've gotten any of my courses You would know that the thing I always obsess about is practice and pattern recognition The guy or the girl Who practices constantly who works very hard to hone their skills in order depth hone their skills and options trading future trading Whatever that's the person who's going to do quite well the person who obsesses over risk management over limiting risk And over past patterns. That's the kind of person that I'd want to put my money on but the kind of person who just you know I think something is bullish and then buys everything they possibly can That person's going to fail because even if they get it right one time And they bet it all again eventually they're going to lose everything So that's kind of my message to you guys to practice risk management I know everyone says that but practice risk management and get out of the mindset The price isn't a hundred percent probability of rising or falling. It does not I could be completely wrong And if I I would say that this is about a 70 chance the next hour the price will be higher than 10 6 5 5 but Guys that gives it a 30 chance the price will fall and 30 higher than you think That's three out of a ten occurrences. So always Think in terms of probability and always think in terms of limiting risk If you can master those two things and you can practice Well, then I'd put my money on you. All right Okay, so it looks like we are almost out of time But you guys can ask any question you want here So far it doesn't look like anyone sent anything in chat So, uh, if you if you want to be that first brave soul to to do so, well, then be my guest And I know there's some questions here in the Questions yield I couldn't read the chat. I was just reading the chat Oh, yeah Yeah, no. No. Oh, wow Oh, I'm sorry guys. I I didn't I thought that you guys were all silent But I see I'm seeing all these messages now Now going short. Wow first time for good. Did it do. Okay Be fintech. How would it? Okay. So I'm looking through a lot of question book map web Okay, let me answer this one. What bitcoin exchange do you suggest for futures and options? I thought us did it. Yeah. Yeah. Okay. So For futures and options, uh, finance is a wonderful exchange So finance and finance futures is an exchange that I would recommend for trading. Um for trading futures Now if you want to trade options, there are two exchanges. I would recommend for you One of them is derivative d e r i b i t and then the other one is called delta exchange These two exchanges allow options trading. Okay Now let's see Another guy has question. Do the normal option greek supply and crypto options 100 percent all the greek supply But the one thing you have to know about cryptocurrency options is guess what there isn't A dividend and there also isn't interest rates that you need to worry about So if you want to get deep into the black shills model I know maybe 10 percent of you will understand this but um Put the dividend and put the interest rate at zero percent when you calculate the black shills, okay Uh scott schultz. How do we know if any particular volume dot is a new Pushing a new position versus covering an open position. That is an awesome question scott. Thank you So how we can actually know that is through open interest So what you can do is you can look at a bunch of different websites that I can uh, I can tell you guys about One of those websites is called coin allies c o i n a L y z e coin allies gives you open interest data for every single cryptocurrency that you want Another website is tr dr.io these two websites can give you open interest data Open interest tells you when people are opening or closing positions. So here's how you do it Let's see See a very large volume dot a very large green volume dot you see a lot of market buying You go look at open interest and you see that open interest has now increased by four million dollars That to me is telling me that a likely a very large buyer had just opened a position Which to me is more bullish than bearish. Okay, so I hope that that really quick question Answer it. Okay. Can you please type the website name here? Yeah, okay, so I can do tr let me just type that out Oops, is it not letting me Okay, so i'm actually going to post some here and coin allies Exchanges so you guys can go to chat and go read that finance Derivate delta exchange And then another great exchange is the ftx exchange that I highly highly recommend. Okay, cool. So repeat Repeat last site. I think you mean repeat last slide You can just do that in the recording. You can just go back to To the recording and yeah get get that way so i'm looking through I'm looking through the questions here A lot of people are saying bearish bearish bearish Bearish bearish bearish. This looks bad. This looks bearish. Okay. Yeah, so looks like a lot of you Probably got a lot of this right, but I hope I hope many of you were able to learn To learn A lot from this little demonstration Where is he writing this jerry jocco? Just uh, ask are you are you asking where I where i'm recording this? Okay No, he's looking for the links Oh It's in chat. Yeah, I threw it in the chat if you guys can go navigate there Know the website. Yeah, I uh jerry I put the website in the chat I don't know if you can read it, but I put exchanges I put a few things there. So and also, um, I just wanted to to mention um Uh Book map most of these that you had mentioned here ftx darabit Bitmex finance finance futures. I mean these are all Book map connects to all of them so You know, if you go to the connectivity section and book map and then and then click on crypto You'll see all the different exchanges Moreover in the future here. I don't know when exactly but it's a new product that we're working on that We you will be able to make your own uh Instruments that will have a A consolidated book. So basically you can look at multiple exchanges within one chart Okay, so so you want to really understand the liquidity and all the different markets? Then this would be the way to do it. It's uh, it's it's really it's really great It's it's something that'll make you like a market maker basically, but anyway, just wanted to mention that Yeah, um, I also found a previous question who said dang he led book map continued State on for weeks. Wow. So, uh, I I know this might seem a little bit strange But I actually didn't do that book map web gives you free at the current moment free access to months worth of order flow data This is amazing. This is something at least to make me stay up to like 5 a.m Analyzing order flow from like august 2nd because I'm obsessed with this stuff Um, but no, I did not leave. I did not let book map kind of just run for Uh a year and just stare at a computer screen and that sounds terrible Um, it's all it's all there for you on the on the book map web website Which I put in the chat if you want to go get a link to that Um, and if you couldn't find that just private message me after and I'll I'll shoot you with a link So yeah, really really cool site, uh in beta All right, let's see. Oh a lot more questions coming. Uh, we're Where can we find someone said where can we find the best videos which explain the big the book map functions in detail? I think the batsman that would come more from the book map book map team themselves If you want more strategy, I can go to book map for for their team If you want the functions, you can also go there, but if you want, uh scenarios of order flow I have written a guide. Let's see if I can do my quick shameless plug Um, this is the live guide right here. So what I did was I Wrote all of this which is 60 different scenarios of order flow that I've noticed and hopefully can help you guys with all these different videos as well And what I also did was I I put in a lot of practice questions because again I'm obsessed with people practicing and pattern recognition from that So if you guys are interested in this then you can go to my website and go pick this up But I have a bunch of different things that I think will help you guys a lot And if you want to become, you know, if you're really serious about this and you want some practice and some more strategy Then you guys can go check that out. All right. So someone asked what are the settings used by bennett? That's a so well There aren't that many settings from book map web So I will answer that from book map web. I just kind of use the general settings But if you're asking about the settings used by book map, uh, uh desktop It's really just what you're looking at here. I'm not really doing anything too fancy You know, you can see where the scales are for for the for the brightness of dot I'm the size of the dots and brightness of order flow and my color scheme I also really like the book and volume part here One thing I will notice, uh, what part of me one thing that I will mention is there are additional indicators from book map that are helpful But for me, I actually found that, uh, it was better just to simplify Uh, so my settings are very basic moonier, hider, hater I like to I like to just be very simple and basic, but you know, you can be more complex if you want to Someone asked what exchange you use for analyzing bitcoin order flow bitmax or binance My answer to that is I use bitmax xbt usd Binance futures Those are the two main I would do I'm not the biggest fan of coinbase pro also known as gdax, which you can also see on the left tab here I don't love it. Um, that's spot trading But what I what I do love is btc usdt Bitcoin traded tether on binance futures. And of course what you're looking at here is just bitcoin from bitmax You say I am using book map crypto, but it looks different. Um, well, you can just PM me after this and uh, you know We can talk about settings and The nitty-gritty of uh of that Thank you for your answers. Oh, you're welcome. Okay, let's see. Um I'm just reading over some of this All right Yeah, it seems like you guys had a lot of good, uh A lot of good, uh, good questions here. Sorry. I wasn't able to see this before I was I was actually just reading the chat and I thought that no one was talking and I was just like, oh, okay Yes, I'll just solo this one But uh, I I'm glad I saw all the uh, the questions around here Yeah, I am happy to be here happy to help you guys. Um, like like I said, I'm obsessed with this stuff I I love love love pattern recognition and watching the live fight between supply and demand of the market and what I recommend is if you want to If if you want to get quite good at reading this Then go to book map web and go look at the past few months of data Go through every single day and practice practice practice. Look at what typically leads to a bullish pattern Look what typically leads to a bearish pattern Well, what I would also recommend is if you're having a lot of problem problems with risk management or stop loss placement You can also look into the use of options trading And I know I've mentioned this before but I mention it because it's what I do all the time I I love trading options And the reason I love it is because you don't need to use a stop loss if you go long on options Because if you go long on options, your loss is limited to your premium Right, so that allows you to take some really good risk reward trades that will be, you know Probably wrong work than not but the one time you get it right. You can really get it right So if you haven't learned about options yet, there's a great website that that I would recommend called tasty trade I don't know how many of you guys know tasty trade But it's a group of options traders that give free strategy and free guides. They're amazing Really really good stuff. So if you want to go learn more about that kind of trading then Go go over to tasty trade. That's my two cents on how to trade order flow Okay Excellent, I'm sorry. I didn't mean to cut you off there continue fun. Oh, no, all I was saying is I was I was going to comment on the current order to current order flow Yeah, so this still to me looks quite bullish It looks like we have a bit of ranging and it looks like there could actually trap sellers in the lower 10,600s The reason I say that there might be trap sellers is We see a lot of selling at lower prices that was not really respected because price is higher And if you go look at open interest, I think that you will probably see open interest rising Indicating a lot of trap short sellers at lower prices, which is bullish. So that's just what I wanted to say Okay, great. Um, so, uh, yes, uh, jerry, I I've put um into the chat several times here Bennett's contact information if you want more From him his email, etc. It's all in there. You'll see it in the chat. Okay, uh, and um This will be recorded and give me, you know, you'll take some hours here, but we'll put it up on our youtube channel later today and Uh, let's see. Um, yeah, and also, uh, Bennett's Education will be available. Uh, it's available now from his website. You can just go to the link right now It will be also on our book map marketplace. Uh, so if you're interested in in that, um, and um Uh, let's see any, uh, last comments that you have, uh, Bennett Uh, no, I was really happy for you guys. So I'll join me and, uh, keep practicing Stay sharp and manage your risk and uh, yeah Look forward to the next one All right, excellent. Uh, thank you very much Bennett. Um, uh, very nice presentation And, um, I hope you guys, uh, took something away from this about just some very very simple things that, uh, you know looking in the order flow here, uh, and, uh, and like Bennett said, you practice this you're gonna You're gonna start to understand like what to do with, uh, some of these patterns here And maybe you want to reach out to Bennett, um, uh, for further education, etc. Okay Thanks everybody. Uh, this wraps up the, uh, the the series here for this week We'll do it again, uh, in the future, but uh, thanks for for coming everybody and and thanks again Bennett Yeah, happy to be here. Okay. Bye. Bye everybody. Bye. There we go Bennett if you can