Can any one recommend a course that teaches you how to read the footprint | Trading Reviews and Vendors


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Can any one recommend a course that teaches you how to read the footprint

  #31 (permalink)

Membership Temporarily Revoked
London, UK
 
Futures Experience: Master
Platform: sierra chart, Jigsaw Trading, Bookmap
Favorite Futures: 6E futures, Cable
 
Posts: 93 since Aug 2012
Thanks: 3 given, 123 received


Wartrace View Post
In your opinion what does Bookmap have to offer a trader over Jigsaw? Since Jigsaw has added a similar feature (Auction vista heatmap) it looks very similar to bookmap. I have just started using the heatmap with Jigsaw.

I agree with your statement "It depends on the context. There is no "rule". Either liquidity is pulled and price goes through, or it remains and depending on the volume and momentum of marker orders, it either reverses.. or goes through.. I know this is not useful info but there is no right/wrong answer. You can easily take a chance and risk very little with a tight stop, so not very risky trades with decent potential reward."

Just because there is absorption happening doesn't mean the market will reverse. Once you get burned once or twice it is a lesson learned. I think it is wise to let it play out and like you say enter with tight stop.

Hey Wartrace, fine tuning and various setups are much more detailed and granular on Bookmap. I love jigsaw but at the moment the heatmap is not as good as Bookmap, hence my choice to have both, but everyone is different and someone else might think differently.

I might do a video on what I use Bookmap for precisely but I don't want to be completely out of subject or highjack this file which was initially a review of Footprint training if I am not wrong, so I would need to do that on a different file or create a new file, I am not quite sure what is best, I don't want to be a nuisance!

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