Hey, Plz I have a question at time 10:05 you have the price reached the higher liquidity zone, and there the limit order were pulled out when the price touched the liquidity zone, yet the price dropped down from there, how could it be? Because usually when the limit order are pulled out, we can anticipate a breakout, this often happen while you are explaining, and this is completely against the trading microstructure logic of how price move and why price breakout or pullback
Also at 28:21 you had a pullback the reached the bottom liquidity zone of the new range, and limit order were completely pulled out, which NORMALLY should lead to a breakdown and continuation of the bearish trend, but it shifted gears and made a pullback up, how could it be? Here we can not see how the bookmap can really help us to spot opportunities and give us a clear vision over the upcoming market move, plz explain to me if I'm missing something because aggressive buyers are not that clear as well, exist a mixture of red and green dots so not clear vision
It’s probably my ignorance, but how do we know that the buying isn’t the closing of an open position and that the selling isn’t the selling of calls which is a bearish or the selling of puts which is bullish?
Great question, we don't know. This is true for all charting platforms. Nonetheless we know if there is significant volume and interest at that area. However, new data like the Market-by-Order (MBO) data from the CME allows us to read specific order ID's. Thus it is possible to know if the order is closing or opening a position, as long as you have access to the data from the original position.
Scott Schultz When traders hit into the bid and market fails to back tick lower and you see large volume being sold into the bid... and the book doesn’t display these bids, most likely an algo is working the bid, absorbing all the selling via an iceberg. Who’s in trouble? Anyone that sold at market... because their buy stops are above... once these buy stops are triggered most of those sellers are forced out of their shorts. What these buy stops looks like on a footprint chart = large buy imbalances with 0 prints and thin spots. Some traders who think they’re untouchable trade with no stop losses so they’re still in open shorts but they have bids below to cover their shorts that they once thought would go into profit... no point keeping these bids below so they move them higher, this fashion of bids rising is most likely shorts trying to cover and yes new bidders that want a piece of this action. Hope that helps and the same applies to stuck longs.
At 26:38 you say you can be aggressive with the stop order. would that be having it tight, to the initiated buying, trusting it will not pull back? or giving it some breathing room, knowing if it pulls back it will continue the upside?
Such fantastic lessons .. One would think more consideration would be given to sound quality, why on earth do educators think that the absolute cheapest garbage microphone is good enough for this medium ? A low rez, blurry and distorted image would not be acceptable would it?
Guys anybody of you have bought Bookmap plan? As a day trader I want to know how much edge do we get over others looking at the data and depth, also it's Historical, how much helpful it is?
Time is acceptance/confirmation of market behavior. Time is a confirming force for behavior. Without time, there is no way to say that a character change actually occurred, for example. Remember, professional traders only trade with confirmation most of the time. Operating in risk is very difficult.
I don't really know many books on order flow. I'd recommend understanding market mechanics at a high degree, then apply that new understanding to your trading.. Consider reviewing our Bookmap Educational course part 1, it covers these concepts. ua-cam.com/play/PLzaGy-3oukoTzNavr17vZreoFkkzB3T_P.html
Price where most amount of volume took place. Basically at that point buyers and sellers are in agreement about the price and as traders we want to look for opportunities when price moves away from POC to rediscover price.
In 24:27: you talk about momentum buying because of initiated selling. I wonder If one can really identify this in real markets. I don’t know man. This seems to me like a lot of BS on a PowerPoint. As Mike Tyson once said, everyone has a plan, until they get punched in the face.
😂😂🤣 but still. It's better than other indicators. That people use out there, also if u are a trader then u know the importance of having confirmations, u need some sort of barometer to observe markets, track them, study them, which would make sense to u, why not use this tool !!, cuz the tool isn't lagging. Tells u action of real time. Ofcourse u are adult enough to understand and make ur own decisions..
Boss: "Can you add the word 'OK' or 'Alright' to the beginning or the end of each sentence. Because this is super annoying?" Presenter: "Alright Challenge accepted!" Presenter: "Oh, and ahh, OK"
Thank you very much. Love your education videos🙏
Will buy Bookmap ASAP.
Awesome stuff
Thank you, Robert. Please do like this video and subscribe to Bookmap's UA-cam channel to watch more videos like this.
👍 good stuff.
thanks Bruce
Hey,
Plz I have a question at time 10:05 you have the price reached the higher liquidity zone, and there the limit order were pulled out when the price touched the liquidity zone, yet the price dropped down from there, how could it be? Because usually when the limit order are pulled out, we can anticipate a breakout, this often happen while you are explaining, and this is completely against the trading microstructure logic of how price move and why price breakout or pullback
Excellent work! I added bookmap to think or swim n it amazing
Also at 28:21 you had a pullback the reached the bottom liquidity zone of the new range, and limit order were completely pulled out, which NORMALLY should lead to a breakdown and continuation of the bearish trend, but it shifted gears and made a pullback up, how could it be? Here we can not see how the bookmap can really help us to spot opportunities and give us a clear vision over the upcoming market move, plz explain to me if I'm missing something because aggressive buyers are not that clear as well, exist a mixture of red and green dots so not clear vision
Found answer?
What time frame do you use on bookmap to clearly see the exhaustion point? 1 min? 10 min? 30 min? Thanks
It’s probably my ignorance, but how do we know that the buying isn’t the closing of an open position and that the selling isn’t the selling of calls which is a bearish or the selling of puts which is bullish?
Great question, we don't know. This is true for all charting platforms. Nonetheless we know if there is significant volume and interest at that area. However, new data like the Market-by-Order (MBO) data from the CME allows us to read specific order ID's. Thus it is possible to know if the order is closing or opening a position, as long as you have access to the data from the original position.
Scott Schultz When traders hit into the bid and market fails to back tick lower and you see large volume being sold into the bid... and the book doesn’t display these bids, most likely an algo is working the bid, absorbing all the selling via an iceberg. Who’s in trouble? Anyone that sold at market... because their buy stops are above... once these buy stops are triggered most of those sellers are forced out of their shorts. What these buy stops looks like on a footprint chart = large buy imbalances with 0 prints and thin spots. Some traders who think they’re untouchable trade with no stop losses so they’re still in open shorts but they have bids below to cover their shorts that they once thought would go into profit... no point keeping these bids below so they move them higher, this fashion of bids rising is most likely shorts trying to cover and yes new bidders that want a piece of this action. Hope that helps and the same applies to stuck longs.
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@@user-ub3qr4bj8gthx for the explanation👍
Pls share part 4 .. thanks in advance
Here are parts 1-4, ua-cam.com/play/PLzaGy-3oukoTzNavr17vZreoFkkzB3T_P.html
At 26:38 you say you can be aggressive with the stop order. would that be having it tight, to the initiated buying, trusting it will not pull back? or giving it some breathing room, knowing if it pulls back it will continue the upside?
Awesome
Glad you enjoyed it!
Such fantastic lessons .. One would think more consideration would be given to sound quality, why on earth do educators think that the absolute cheapest garbage microphone is good enough for this medium ? A low rez, blurry and distorted image would not be acceptable would it?
You get so much information for free and your are still complaining. Be grateful
Please share Part 4
Guys anybody of you have bought Bookmap plan?
As a day trader I want to know how much edge do we get over others looking at the data and depth, also it's Historical, how much helpful it is?
Hello Danish, feel free to join our Discord and ask your question to our global traders community - discord.gg/FKxsMdJ8FY
What is the definition / meaning of time and acceptance? I was trying to go back and find it defined but haven't as of yet......??
Time is acceptance/confirmation of market behavior. Time is a confirming force for behavior. Without time, there is no way to say that a character change actually occurred, for example. Remember, professional traders only trade with confirmation most of the time. Operating in risk is very difficult.
Did part 4 ever come out?
Hi again bruce 😊 would you recommend some books on orderflow/reading the tape if there is any :/
I don't really know many books on order flow. I'd recommend understanding market mechanics at a high degree, then apply that new understanding to your trading.. Consider reviewing our Bookmap Educational course part 1, it covers these concepts. ua-cam.com/play/PLzaGy-3oukoTzNavr17vZreoFkkzB3T_P.html
What is point of control POC?
Price where most amount of volume took place. Basically at that point buyers and sellers are in agreement about the price and as traders we want to look for opportunities when price moves away from POC to rediscover price.
@@MrLakshay19 Thanks for the comment.
What is the timeframe you suggested for trading?
where is part 4 ?
In 24:27: you talk about momentum buying because of initiated selling. I wonder If one can really identify this in real markets. I don’t know man. This seems to me like a lot of BS on a PowerPoint. As Mike Tyson once said, everyone has a plan, until they get punched in the face.
😂😂🤣 but still. It's better than other indicators. That people use out there, also if u are a trader then u know the importance of having confirmations, u need some sort of barometer to observe markets, track them, study them, which would make sense to u, why not use this tool !!, cuz the tool isn't lagging. Tells u action of real time.
Ofcourse u are adult enough to understand and make ur own decisions..
6 years later, still working
Can you guys at bookmap get better instructors? Sheesh...
Boss: "Can you add the word 'OK' or 'Alright' to the beginning or the end of each sentence. Because this is super annoying?"
Presenter: "Alright Challenge accepted!"
Presenter: "Oh, and ahh, OK"