Hi
I trade stocks only and I use bumber bars ,but because sc do not offer market depth for stocks trying to use bookmap.
Does using bookmap going to be big difference than number bars and easy to use?or waste of money
Ty
Bookmap is more for order book/ quote visualization, where the numbers bar study represents real volume traded. They are like night and day.
Bookmap for equities is a new product. No one else in the retail space offers a real order book visualization tool for Equities, however, Bookmap for equities currently has several limitations.
-There is a 10 symbol limit at one time.
-They are only displaying quote data from Nasdaq Totalview. In order to paint an accurate picture of the order book you really need additional data from the likes of CTS/CQS Consolidated Trade/Quote System( NYSE), BATS: BYX, BZX, EDGA, EDGX etc
-FINRA dark pool volume is not displayed
*Bookmap for equities has lots of potential because they have partnered up with Dxfeed, who are arguably superior to the likes of Barchart( SC), and IQ feed.
*Sierra chart could offer a superior market depth product if they were partnered with DxFeed, however, they are not, and will not.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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