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Bookmap vs Jigsaw Daytradr


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Bookmap vs Jigsaw Daytradr

  #81 (permalink)
 ichack17 
Manchester, New Hampshire, United States
 
Experience: Intermediate
Platform: EdgeProX
Broker: EdgeClear
Trading: ES, RTY, GC
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theprophe View Post
You can have more than 1 CME connection and stay non-pro but need multiple brokers.



Can you expand on this CME restriction? Or point me to a thread that goes into more detail? I thought the limit was three connections.


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  #82 (permalink)
yolo778778
Malaysia
 
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theprophe View Post
You can have more than 1 CME connection and stay non-pro but need multiple brokers.



Some corrections: I think CME will charge you pro only if connecting more than 2 log-in concurrently. But still you will be paying another data fee for the other session.

Best solution is to download R/Trader Pro (Windows ONLY) and use the program to feed data to how many platforms you have. Then it will still count as 1 log in.

This is what I have researched.


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  #83 (permalink)
 theprophe 
no fixed address
 
Experience: Intermediate
Platform: edgeprox,bookmap
Broker: Edgeclear
Trading: Mes
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ichack17 View Post
Can you expand on this CME restriction? Or point me to a thread that goes into more detail? I thought the limit was three connections.


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Sorry your right, you can have 2 connections, but I believe that is per broker

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  #84 (permalink)
 options 
toronto
 
Experience: Advanced
Platform: TOS
Trading: options
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So does anybody using 7.1 version of BOOKMAP and find it usefull . Wonder if ICEBERG detector really works and helps you in trading. ????

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  #85 (permalink)
 
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 Bookmap  Bookmap is an official Site Sponsor
 
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options View Post
So does anybody using 7.1 version of BOOKMAP and find it usefull . Wonder if ICEBERG detector really works and helps you in trading. ????

Hi,

Just to be clear, Bookmap's Stop&Iceberg Tracker is sold separately on the Bookmap Marketplace and is not included in Bookmap 7.1 Global or Global+ versions, however it will work with either Bookmap version. The Stop&Icberg Tracker requires a Rithmic data connection and only works with CME Group instruments in the CME, CBOT, COMEX, and NYMEX. The indicator displays Native Iceberg and Stop order transactions.

There are many traders using it who have found it very valuable. For example, professional trader Scott Pulcini is currently basing his entire trading plan on Bookmap's Stop&Iceberg Tracker. There are several resources on our website and marketplace for more information, or you can always reach out to [email protected].

regards,

Bruce
The Bookmap Team

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  #86 (permalink)
 
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 Poosman 
Houston, Texas
 
Experience: Intermediate
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This is the most relevant post on this thread IMO. Yet no one really addressed it.


matzero View Post
OK, but that kind of clear action happens very rarely

I stare at bookmap every day for a few months now

Unfortunately I found this kind of scenario absolutely random. Sometimes price hit area of high liquidity and bounce. Other time it hits it and trades through. Other times it reverses just before reaching the level of high liquidity. Sometimes it hits more than one levels of high liquidity and continue. Complete randomness

Same for icebergs. I've seen veeeeery large icebergs and the price went through. Sometimes it continues. Sometimes it reverses after a few ticks. Sometimes it bounces from iceberg and never returns. Random outcome, random direction after iceberg hits

One thing I can confirm that generally levels of high liquidity are like a magnet. But those magnets are both on the bid side and on the ask size. Sooner or later price will hit them, but again it seems do be done in semi-random order

After months of watching this stuff I'm only getting more into conclusion that at the end of the day only price action matters

Do we have some heatmap users that found their edge only by looking into heatmap? Please correct me if my above statements are wrong


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  #87 (permalink)
 IconBob 
Beulah MI USA
 
Experience: Advanced
Platform: Sierra Chart,Bookmap,NT8
Trading: ES
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Scott Pulcini does. See him advanced Bookmap webinar Thursday morning.

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  #88 (permalink)
 
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Poosman View Post
This is the most relevant post on this thread IMO. Yet no one really addressed it.

"I stare at bookmap every day for a few months now

Unfortunately I found this kind of scenario absolutely random. Sometimes price hit area of high liquidity and bounce. Other time it hits it and trades through. Other times it reverses just before reaching the level of high liquidity. Sometimes it hits more than one levels of high liquidity and continue. Complete randomness

Same for icebergs. I've seen veeeeery large icebergs and the price went through. Sometimes it continues. Sometimes it reverses after a few ticks. Sometimes it bounces from iceberg and never returns. Random outcome, random direction after iceberg hits

One thing I can confirm that generally levels of high liquidity are like a magnet. But those magnets are both on the bid side and on the ask size. Sooner or later price will hit them, but again it seems do be done in semi-random order

After months of watching this stuff I'm only getting more into conclusion that at the end of the day only price action matters

Do we have some heatmap users that found their edge only by looking into heatmap? Please correct me if my above statements are wrong."



---------------------------------------------------------------

Hi Poosman,

We're happy to address this question; it is erroneous to assume if price hits an area of high liquidity it will bounce. Same for Iceberg transactions -- just because there are icebergs, even large ones, doesn’t mean price will bounce. There can simply be more aggressive sellers than liquidity or icebergs, and price will cut right through those areas. Other times there are less aggressive sellers, and the liquidity and icebergs absorb all the aggressive selling and price bounces.

Therefore, it’s the context between the price structure, aggressor volume (market buy/sell orders), and liquidity (limit buy/sell orders) that really matters. Comprehending this context can allow for heightened insights to where price may move next. For example, suppose price is in a random walk within a consolidated range and there is high liquidity above and below the range. However, at the highs of the range, you notice more buyers, yet price drops back down into the middle of the range. However, the liquidity on the bid moves up from the bottom of the range. Price doesn’t test the liquidity because there are not many aggressive sellers hitting the bid. Moreover, you note there are some iceberg transactions just in front of the bid liquidity. Aggressive buyers begin entering the market and price breaks out of the range and charges up toward higher liquidity on the offer, like a magnet. Understanding the context of the aggressive volume and the liquidity within the price range outlines a skew in the auction and the higher potential for the ensuing breakout. This can help you make more informed trading decisions. Attached is an image of price action in today’s ES that illustrates the point.

Bookmap’s educational course and Daily Live Advanced Webinars cover this type of material everyday. It is forward looking live analysis, not hindsight, and includes live trading. Please log into bookmap.com/portal to access these materials. Note, a subscription to Global+ is required for the Advanced webinars.

regards,

Bruce
The Bookmap Team


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  #89 (permalink)
 stumbras 
Denver, Colorado
 
Experience: Beginner
Platform: Trdstation Trgview Motiwa
Broker: EdgeClear, Tradestation
Trading: Futures and Forex
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Bookmap View Post
"I stare at bookmap every day for a few months now

Unfortunately I found this kind of scenario absolutely random. Sometimes price hit area of high liquidity and bounce. Other time it hits it and trades through. Other times it reverses just before reaching the level of high liquidity. Sometimes it hits more than one levels of high liquidity and continue. Complete randomness

Same for icebergs. I've seen veeeeery large icebergs and the price went through. Sometimes it continues. Sometimes it reverses after a few ticks. Sometimes it bounces from iceberg and never returns. Random outcome, random direction after iceberg hits

One thing I can confirm that generally levels of high liquidity are like a magnet. But those magnets are both on the bid side and on the ask size. Sooner or later price will hit them, but again it seems do be done in semi-random order

After months of watching this stuff I'm only getting more into conclusion that at the end of the day only price action matters

Do we have some heatmap users that found their edge only by looking into heatmap? Please correct me if my above statements are wrong."



---------------------------------------------------------------

Hi Poosman,

We're happy to address this question; it is erroneous to assume if price hits an area of high liquidity it will bounce. Same for Iceberg transactions -- just because there are icebergs, even large ones, doesn’t mean price will bounce. There can simply be more aggressive sellers than liquidity or icebergs, and price will cut right through those areas. Other times there are less aggressive sellers, and the liquidity and icebergs absorb all the aggressive selling and price bounces.

Therefore, it’s the context between the price structure, aggressor volume (market buy/sell orders), and liquidity (limit buy/sell orders) that really matters. Comprehending this context can allow for heightened insights to where price may move next. For example, suppose price is in a random walk within a consolidated range and there is high liquidity above and below the range. However, at the highs of the range, you notice more buyers, yet price drops back down into the middle of the range. However, the liquidity on the bid moves up from the bottom of the range. Price doesn’t test the liquidity because there are not many aggressive sellers hitting the bid. Moreover, you note there are some iceberg transactions just in front of the bid liquidity. Aggressive buyers begin entering the market and price breaks out of the range and charges up toward higher liquidity on the offer, like a magnet. Understanding the context of the aggressive volume and the liquidity within the price range outlines a skew in the auction and the higher potential for the ensuing breakout. This can help you make more informed trading decisions. Attached is an image of price action in today’s ES that illustrates the point.

Bookmap’s educational course and Daily Live Advanced Webinars cover this type of material everyday. It is forward looking live analysis, not hindsight, and includes live trading. Please log into bookmap.com/portal to access these materials. Note, a subscription to Global+ is required for the Advanced webinars.

regards,

Bruce
The Bookmap Team


Do you have trial for global+?

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  #90 (permalink)
 
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 Bookmap  Bookmap is an official Site Sponsor
 
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Poosman View Post
This is the most relevant post on this thread IMO. Yet no one really addressed it.


stumbras View Post
Do you have trial for global+?

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Hi Stumbras,

There is not trial with Bookmap. Instead we offer a free version that connects to one cyrpto currency for free, and that data is free too. There is also a delayed data feed for stocks and Futures. This free version gives you a good overview of Bookmap. If you want live data for stocks and/or futures, or you want to access more than one crypto currency, then a subscription to Bookmap Global or Global+ is required. Note, you will need to provide the data; it is not included in the subscription fee. Go to bookmap.com and visited the Connectivity and Pricing sections and click on the Connectivity Guide and the link below Pricing section for more details on pricing comparisons.

regards,

Bruce

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Last Updated on September 1, 2022


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