Simple Bookmap Strategy

Today we cover basic Bookmap Strategy. The concept is simple. Price seeks volume. You can use this knowledge along with Bookmap to form your bias and implement that bias into your chosen trading strategy.
Try Bookmap: bookmap.com/me...

[@seagas2944]

Scott Pulcini got it thanks

[@joeblow6384]

It works going up and down. I trade both Euro and US markets and notice it would hit lower liquidity around 1am to 4am before hitting the higher liquidity or reverse on bearish days. Good stuff.

[@douglasontrading8021]

Good stuff indeed

[@bryonseilerXauBry0716]

Thank you so much. Do you still trade??

[@gauravagarwal2900]

According to your experience so far, what is the psychology behind price moving to high liquidity areas and sometime reversing from there but sometimes breaking out off it?
Also you think stocks follow ETF or ETF follows stocks(most liquid ones) on bookmap? Please share your views.

[@douglasontrading8021]

I can’t tell you the psychology behind it but you have to determine the mood of the market. Easier said than done. Stocks, ETFs, Futures, they all work in unison for the most part. I use ETFs like SPY to find big levels that might not be showing in Futures. I think it’s a bit of an edge over just watching futures.

[@alipiofernandes1]

The will to buy or sell at that regions.

[@trading2ez]

The psychology behind is is simply the fact that instutions such as hedge-fonds and banks do need the liquidity to get their positions filled. Accumulation aswell as distribution by big players happens over a longer period of time (depending on the liquidity) aswell as within a bigger price-range.
Whether it breaks or not depends on the market-orders as limit-orders do not move the market, they just act as potential support and resistance.
Watch the orderflow at these levels. Just because a bigger sell-limit-order gets filled by an aggressive buyer doesn`t mean it will breakout. Important are oderflow-events to show whether it is likely to see a break through or not.
An example of a potential reversal at a sell-limit-order-cluster is an ice-berg-order.. or simply the "reload" of the limit-order, or a fakeout by a sweep without any chasing higher liquidity (limit-orders following the breakout aswell as aggressive buyers).
An example of a potential break through is a sweep through these orders with a flipping. (Sell-Limits dissapear and turn in to buy-Limits while aggressive buyers push the market).
There are different orderflow-events you should check such as:
- Flipping
- Absorption
- Iceberg
- Spoofing
- Sweeping
- Trapping
etc.
Btw. You never know the intention of these orders. Could either be taking profit or execution. Check the orderflow!

[@rayvannyofficialbongomusic4160]

@@trading2ez thanks

[@seanlesnar667]

Great content

[@solomonisrael2256]

Pls why is thinkorswim not working for Africa

[@drummerunner]

Thanks for this video, in your opinion is bookmap a necessary thing nowadays to trade better or as well a jigsaw dome for example? Thanks

[@douglasontrading8021]

Good luck with a dome. Bookmap is lightyears ahead of a dome. With the Stop/Iceberg indicator Bookmap is the best thing going. Doesn't make it easy, doesn't make you profitable but if you are going to play you need a unique tool like Bookmap.

[@drummerunner]

@@douglasontrading8021 Thank you Douglas

[@mandeepdalip]

Does the stop/iceberg indicator comes on global+ subscription or have to buy as an add on?

[@seagas2944]

Scot Polcini?

[@burrellinvestments5952]

What up broo!

[@douglasontrading8021]

Dude. You live.

[@CrownOfThorns13]

Tumor charts 😜
Make some more AlgoBox videos

[@douglasontrading8021]

In the works.

[@adam55719]

Probalities is just a sweet Word for gambling

[@douglasontrading8021]

You think there is an alternative in trading to probability?

[@R3negadeCapital]

so if u think trading is gambling....why are you watching trading videos?? 🤡