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Webinar: Real-world Order Flow Strategies & Setups w/Scott Pulcini & Bookmap


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Webinar: Real-world Order Flow Strategies & Setups w/Scott Pulcini & Bookmap

  #21 (permalink)
 ScottPulcini   is a Vendor
 
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Big Mike View Post
@ScottPulcini,

The following are some of the questions during the webinar. If any of these merit a written response in addition to any response already given in the video, please reply for the benefit of all members reading and searching for answers:

(note: I am posting the "for Scott" questions below -- the Bookmap specific questions got posted to their AMA thread. I may duplicate a small number of them if they apply to both... Also, there were a fair amount of general comments/feedback so I left those in, they aren't necessarily questions)



looking foreward to Scott's screen saver of i think Sedona AZ, place i know

Bruce cheeky one but please can you possible do soem screenshots laters of Scott's settings and ideally do a pdf etc and share on tomorrows webinar or something?

damn i love listening to this guy! we need a round of golf soon Scott!

Scott - curious please how many screens you run in your trading rig?

Scott any rough rough cost $ for the new training material pls?

great great session guys

catch up soon! and nice hear the birds still singing!!

Wetradedesk is amazing!

How are the stop runs detected and their figures calculated?

What about his iceberg settings and why?

will you talk about the massive negative imbalance in the liquidity tracker today (and this week). The numbers are many orders of magnitude higher than usual, i think my MBO is old and buggy my numbers are waaaaaay different than what Scott is showing, in the millions. i pinged you an image on twitter, it was the LT imbalance, i think i have an old buggy version

How do you get the number for stops and iceburgs to appear on those verticle axis exactly? I can't get both to appear on different verticle axis

Do you teach stock trading as well

can you filter imbalance by order size? Only looking at the imbalance of large limit orders?

if you wanted to do stock, is there a way to figure what an iceberg would be for stock?

Scott also wanted to address the Liquidity Tracker, didn’t he?

Does Scott keep track of icebergs from previous sessions?

Scott has cloud notes on his screenshots: Is he using it to track the icebergs? Can we subscribe to the url?

Great to hear Scott once more, even when in Europe is night, thank you Bruce.

this is the best webinar ever!

the bubbles are agressive buyers and sellers... the orders in the order book are limit orders, i.e. passive buying and selling...
those cloud notes are from spotgamma... he showed them in a webinar with Walter Lesicar the other day.

this is so good!

thank you so much, Scott... fabulous webinar!

how zoomed out are your charts normally

What are the settings for stops, icebergs, & liquidity ?

Can you seperate the S-I and the imbalance? Into two different sections?

Could you define a stop run, I understand iceberg

what are the thresholds for ZN and ZB?

Has Scott successfully use this trading CL?

What timeframe is Scott using on ES?

WHAT ABOUT SCOTT'S COURSE?

It would be nice to get into the stop/icebergs . . .

is the liquity tracker the difference between the total 10 bids and totals at the 10 offers?

Hi! I use S-I and I want to clarify me about that: when I see an iceberg buy order (above zero line - expo reset setting) , I thougth that CVD will be rising. But in reality the CVD is falling. Can you show us an example with both of them (S-I and CVD) and explain the relationship between ... Thanks!

Is this applicable to indivudual stocks?

what are the spheres?
how fast does your Internet service need to be for this to work w/all other programs for trading?

Doesn't order flow allow you to see this too?

Can you please show how to get into a trade using this tool

retail traders find these costs high until they earn money

Is the new Bookmap Marketplace Rithmic data feed including R Trader Pro account? Meaning I can connect this Data feed through API to more than one charting soft (e.g. Bookmap and Multicharts)? Or is this Data feed solely for Bookmap? I am just trying to see if I can use this data on two softwares that support Rithmic simultaneously

Great seminar, most importantly with PRACTICAL examples. I just continue to be shocked why other platforms have not picked it up yet. EDge won't last long. Make money while it lasts!

are these bubbles plotted on chart before it hits that price or after?

I see you have TOS, how to combine or use both Bookmap and TOS?

Hi this would work with market profile side by side ....

Is there anything else I would need to subscribe to ... ie what I am seeing on the webinar

Sorry if this has been asked - taking lots of notes! (This is great!). If I just want to watch the market with Bookmap to see icebergs, etc. and play out and not place any orders, do I also need Rithmic or just bookmap?

This presentation has been amazing. Many thanks to Scott, and Bruce.

The Bubbles are the iceberg orders?

why is market profile starting at 8:30?

Do you have an ETA on the Bookmap Cloud service?

Could you please specify what stops are? How Bookmap is tracking those data? Stops are stop orders?

Does this system work only day trading or longer periods as well?

is this manual trading or an automatic trading ?

How long has the MBO been available to retail traders? When did this come out?

How would you distinguish BM from foot print?

Is that delta?

when is your course coming

The mbo data of rithmic is the normal rithmic data or you have to pay an additional?

whats the tresholds for NQ?

what is the difference between his numbers being different on the iceberg and stop scale?



Mike

Bruce answered most of the questions real-time as well as gave my email if traders had questions after the webinar. If there are further questions I can be contacted at [email protected]

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  #22 (permalink)
 ScottPulcini   is a Vendor
 
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n7ekg View Post
You don't. In fact, you don't even need Bookmap, Jigsaw, or any other expensive order flow software, just an understanding of order flow and how to see resting orders on a chart. Iceberg orders, stop runs, and the like are easy to see when you know what you're looking for, no special software needed, except numbers bars, which you get in Sierra Charts.

You couldnt be more incorrect in your statement about "seeing" iceberg orders and stop runs. Unless you have programs/algos that can disseminate the information, then it is purely a guess about what you think you are seeing. My webinar was intended to expose the retail trader to this data through the Bookmap platform and the SI Indicator which is the best thing I have used in my 20-year trading career. If you choose use my experience/advice as a guide, great. If not, you are entitiled to your own opinion and good luck.

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  #23 (permalink)
 n7ekg 
Plano, TX
 
Experience: Advanced
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ScottPulcini View Post
You couldnt be more incorrect in your statement about "seeing" iceberg orders and stop runs. Unless you have programs/algos that can disseminate the information, then it is purely a guess about what you think you are seeing. My webinar was intended to expose the retail trader to this data through the Bookmap platform and the SI Indicator which is the best thing I have used in my 20-year trading career. If you choose use my experience/advice as a guide, great. If not, you are entitiled to your own opinion and good luck.

It's not hard to see iceberg orders and stop runs - I see them in Sierra Charts all the time. Now, for other platforms, it might be a different story.

The instructor that helped me see these things on a chart with numbers bars and resting orders has 40 years trading experience and works for a large bank in London. He very rarely loses a trade.

I'm certainly not saying that Bookmap, Jigsaw, etc., aren't useful - it certainly makes things easier to see. But it's certainly not impossible to see order flow without indicators. It's harder, sure. Don't misunderstand my post by jumping to the conclusion that I'm saying that order flow indicators are worthless.

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  #24 (permalink)
 Fibonacci 
Munich/Bavaria
 
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n7ekg View Post
It's not hard to see iceberg orders and stop runs - I see them in Sierra Charts all the time. Now, for other platforms, it might be a different story.

The instructor that helped me see these things on a chart with numbers bars and resting orders has 40 years trading experience and works for a large bank in London. He very rarely loses a trade.


MBO might be helpful, but I'd like to see some competition there as well. It's probably a matter of time to have MBO implemented in Sierra etc.. prices and sales pitches will fall

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  #25 (permalink)
 
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 matthew28 
United Kingdom
 
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n7ekg View Post
you don't even need Bookmap, Jigsaw, or any other expensive order flow software, just an understanding of order flow and how to see resting orders on a chart. Iceberg orders, stop runs, and the like are easy to see when you know what you're looking for, no special software needed, except numbers bars, which you get in Sierra Charts.

I would say it mostly comes down to personal taste. You prefer Sierra Chart number bars, so a Footprint Chart, people who like Bookmap prefer the heatmap format, and Jigsaw was originally and still is principally an enhanced DOM. They're all orderflow tools just with a different focus on how they present the information.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #26 (permalink)
 
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 Bookmap  Bookmap is an official Site Sponsor
 
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Eric1704 View Post
Can I get the recording? I missed it.

Find the recording here.



Bruce
Bookmap Team

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  #27 (permalink)
 
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Davedfd76 View Post
So, if you don't mind my asking, how are the results of getting Bookmap and the MBO package? Is it the Holy Grail it sounded like yesterday?

Hi Dave,

We continue to generate more Stop & iceberg content with the release of this new indicator, Please keep your eyes peeled on our Bookmap Blog and Twitter account a well.

The Bookmap MBO Bundle which includes the Stop$Iceberg Tracker is not the holy grail. Nothing is. However, the SI Tracker offers a level of transparency we simply did not have access to previously. The outputs from the indicators are purely factual information. With older MBP data (market-by-price), we can guess or potentially extrapolate insights from possible stops, stop runs, and iceberg transactions. However, with CME MBO data (market-by-order) we know for fact these are the order types transacting.

It is not a signal service indicator. It is to be used as a confluence. You still need to read the order flow, the volume, and market structure. However, now within your order flow reading, you know the specific orders types transacting. This gives insight to the potential positions of specific players. For example, who uses native CME iceberg orders? Larger player use them, because they wish to hide their size with iceberg orders. Who typically uses stop orders? Smaller players because they do not have deep pockets to withstand large draw downs. Thus, in general, these are are likely stop-loss orders transacting (note stop orders can of course be used for entry, but they are more typically used for market exit).

regards,

Bruce
Bookmap Team

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  #28 (permalink)
 
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whuffo View Post
I don't want this to come across as too negative but I was a bit disappointed in the webinar. I attended the previous one that demoed Bookmap and their MBO tools. It was impressive and interesting enough that I subscribed to Bookmap and the MBO package on a monthly basis to try it out. I was very much looking forward to this as 90 minutes of real-world use of the tools. It was clear that the previous webinar was a sales pitch and it was well done for that purpose.

But the first 25 minutes of this webinar were a re-hash of what native iceberg orders were, how much it cost, that the sale on the MBO package went to the end of June, why Bookmap and MBO were the best thing since sliced bread, etc. I even posted a question asking when we were going to get to using it in the real world. About that time, Scott did switch to his examples. I don't know if that was because of my question or would have happened anyway. It really doesn't matter.

When Scott did start with real world examples, they were appropriate and his explanations were very good. But since so much time was used by the sales pitch, it seemed a bit rushed. He mentioned several times that he uses BM and MBO in conjunction with the TAS tools and showed some screenshots of them, but he never explained in enough depth (to my old brain) how they worked together and what he was looking for.

I've spent my professional life in the software business and understand what it takes to sell a SAAS (software-as-a-service) package. Part of it is pitching and acquiring new customers and the second part is making sure they STAY customers because they know how to use your tools effectively. I appreciate it that Bookmap (and FIO) put this on and it was definitely useful, but it could have been much more so if it was focused solely on the education of the users in the best way to use it effectively.

I hope this is considered constructive criticism because that is how i meant it to be. I look forward to future webinars and really appreciate FIO hosting them.

Hi whuffo,

Sorry to disappoint, but our intent with this FIO webinar was exactly as you stated; it was about how a professional trader like Scott Pulcini uses Bookmap and the Stop&Iceberg Tracker for making better trading decisions. Scott did complete his presentation and went through all his examples; we received a few questions on his content and we covered them.

However, the vast majority of the questions we received during the webinar dealt primarily with technical issues and retirements for the SI Tracker. Therefore we covered them. Perhaps we should have referred people to the previous FIO webinar and resources and left it at that. If we will do another MBO webinar in the future on real order flow examples, then we'll focus only on that. Thank you for your feedback, it's much appreciated.

regards,

Bruce
Bookmap Team

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  #29 (permalink)
 avalo 
Los Angeles
 
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Like others, during Scott Pulchini’s webinar I was not happy about having to look at another indicator, but I thought that while it's a struggle to keep my mind open, I should at least try to keep it open. So I looked for others have to say about TAS. Unfortunately, there isn’t a lot out there about it. My take on the TAS reviews for what it is worth, is that they say TAS does what it is supposed to although it is overpriced.

it doesn't work with Bookmap, my existing platform, and the fellow at TAS who I contacted didn’t know if it works with Rtrader Pro. The sales desk at TAS seemed indifferent to the questions asked. The rep urged me to contact platform providers to determine if TAS would work with their platforms. It seems like a company rep should know this, or at least be motivated to find out for a potential customer, but that wasn’t my experience, maybe others have had better luck.

Just wondering if anyone in the forum here have used the TAS indicators, and what platforms they got them to work with? Any input would be very much appreciated.

TAS could fill a niche for my purposes. As an ES scalper focused on order flow, it can be challenging to keep track of volume in a range to see what the bigger picture is, and the TAS chart might be useful for that.

Best regards,
Tom

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  #30 (permalink)
 EgoRisk 
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ScottPulcini View Post
You couldnt be more incorrect in your statement about "seeing" iceberg orders and stop runs. Unless you have programs/algos that can disseminate the information, then it is purely a guess about what you think you are seeing. My webinar was intended to expose the retail trader to this data through the Bookmap platform and the SI Indicator which is the best thing I have used in my 20-year trading career. If you choose use my experience/advice as a guide, great. If not, you are entitiled to your own opinion and good luck.

Fwiw, @ScottPulcini I really appreciated your discussion on the SI Tracker. And I mean I *really* appreciated it.

I just think that, sometimes, these topics are worth more than one hour of discussion.

On that point, I'm going to tag @Bookmap and say, I know Bookmap produces a lot of videos with various vendors. But maybe consider producing more videos on raw education that are not so heavily focused on the "selling the product". Focus on videos to keep customers. Your goal should be to hit critical mass of people successfully using your tools, not critical mass of people merely subscribing to your tool.

The problem, of course, is if you show people how to use the tools they will only use it in that exact manner. They won't understand the concepts behind it or what the tools are really saying about the market. No matter what you say, they will only hear "when iceberg and stop lines go sharply in opposite directions, prepare for a reversal." And they won't develop their own "way" of using the tools because they won't understand what the tools are really saying about the market. They will fail to make the tools their own, which is just the foolish builder building his house on sand and getting swept away in a flood.

So if you could present the education and teach how to use the tools and how to make the tools your own, even if it's a 4 hour long video on youtube, I think you could benefit from it.

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