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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

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  #51 (permalink)
 n7ekg 
Pahrump, NV
 
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  #52 (permalink)
 optiontarget 
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thanks for sharing such thing . Could you please share with us the PDF file which mentioned on the webinar . thanks again

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  #53 (permalink)
 torr 
Moscow
 
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Hello,


artemiso View Post
On CME the most common hidden order displays 1 lot and has a reserve portion of 1 lot... not 10%.

Sorry for upping old thread, but could you please clarify:
what is the benefit of MM to land iceberg with 1 display and 1 reserve contract instead of just usual order with volume 2?

Possible reason I can imagine, that MM does not want fast fill of his order, and after 1 contract has been filled, order goes to the end of queue allowing MM order presence in price level and giving time to cancel it

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  #54 (permalink)
 dsheehan87 
Chicago IL USA
 
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I know this is oldÖ But some of the things posted here are flat out wring re: icebergs. People need to know that icebergs are usually always right (you just donít understand why). You donít have to agree, but then youíd be wrong.

1) Icebergs are indeed usually the smart money.

This is a fact. And they are usually always right. How? Because you donít know what they are doing - but we have learned to guess what they are doing by knowing the game. Because it is a game. Itís not random. Those using icebergs are right because they make themselves right. Do you think that they simply absorb and then sit? Lol. No. They blast orders in their direction and pull their phony bids and offers driving the dumb money to jump onboard. And this is where you need to enter - with the iceberg - at its price(s) hopefully. But then guess what? They need to exit. And they donít use market orders (they are for suckers), and they donít want to loose ticks (who does), so they execute another iceberg - and this is here you fade the iceberg - if thereís some other player looking to drive the market still higher (or lower) - because their iceberg is an exit. They key is knowing when to trade with it or against it, or to not trade at all. They arenít market makers lol. Not a chance.

When they are losing, guess what they do? Theyíll dump everything plus double their last iceberg into the market, and profit. They donít lose lol. This is a game. I know many people friends of mine from the merc, these guys knew nothing of fancy things like charts and icebergs - they saw the icebergs in person. They indeed traded WITH the paper. I do too, when paper is initiating a position, Iím with the paper. If it is a loser, Iím out (and they, like I said, with blast the market and win - ask Baldwin how that works).

2) Itís easy to spot an iceberg.

This is false. Believe me, sometimes itís not an iceberg but smaller traders absorbing. Generally itís only when you see ticking in the direction of the iceberg, pulling the orders, letting it go bid/offer, then taking then out, that itís a true iceberg iíd want to trade with. Bookmap allows me now to confirm this (honestly thatís all Iím using bookmap for at this point because Iím a ladder trader).

Again, what you think is an iceberg isnít always an ice berg. That is a fact. Bookmap though, for me, helps me determine that for sure now.

3) All markets arenít the same.

I donít touch the S&P. I did, and it was disaster lol. Starts off well usually lol. My friends were responsible for most of the volume in the S&P pit, and they made their many millions not looking at charts and nonsense. They traded the edge. The edge is useless in the minis. Useless. Unless you are Goldmanís HFT maybe, but they donít always win. This guy was (and still is) trying to show you how to approach these markets. Bookmap looks to be a big help to identify when to get in on a move, icebergs, stops, absorption, etc.

There are markets you can still trade the edge, but you need to be fast and trade with the guys who control the market. The guys who decide direction.

4) Bookmap and MBO is amazing. Jigsaw is amazing. For a retail trader. Without both of them, it would be a lot tougher. Without them Iíd have many losing days instead of a few a month. Losing isnít a good thing.

TT is amazing for crushing the hopes and dreams of retail traders, for paper and big players. Amazing.



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  #55 (permalink)
 n7ekg 
Pahrump, NV
 
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dsheehan87 View Post
2) Itís easy to spot an iceberg.

This is false. Believe me, sometimes itís not an iceberg but smaller traders absorbing. Generally itís only when you see ticking in the direction of the iceberg, pulling the orders, letting it go bid/offer, then taking then out, that itís a true iceberg iíd want to trade with. Bookmap allows me now to confirm this (honestly thatís all Iím using bookmap for at this point because Iím a ladder trader).

Again, what you think is an iceberg isnít always an ice berg. That is a fact. Bookmap though, for me, helps me determine that for sure now.

Whether or not icebergs are easy to spot or not, the effect is the same. Icebergs or absorption, it's all the same to most people - price stops in it's tracks. Here's a good video by an institutional trader that explains it a lot better.



Your assertion that icebergs are not easy to spot, and you need specialized software and lots of experience is simply not true.

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  #56 (permalink)
 matzero 
Warsaw, Poland
 
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dsheehan87 View Post
I know this is oldÖ But some of the things posted here are flat out wring re: icebergs. People need to know that icebergs are usually always right (you just donít understand why). You donít have to agree, but then youíd be wrong.

1) Icebergs are indeed usually the smart money.


Larger traders, yes. They are smart? Is it meaningful?

Not to disappoint anybody, but I'm monitoring closely action around option dealers hedging levels. Those guys often use icebergs to execute their hedges.
Are they smart? OK, let's say they are smart. And they have deltas to hedge, sometimes a lot. Big money for sure.

Now we get very excited, smart guys, executing big money orders, that's fantastic to know!

Unless it means absolutely nothing in terms of further price action. They have their job to do to hedge their own risk taken from options market where they trade market-neutral.
They do their job and leave the market until next hedging level.

Good luck figuring out future action based upon a fact that you've seen their smart-money-super-secret-iceberg-stuff

Good luck even more to figure out what icebergs are executed by those guys and what by other types of market participants.

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  #57 (permalink)
 Pablherasgarcia 
Madrid
 
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ScottPulcini View Post
I am thoroughly baffled by your post. First off, as far as Bookmap is concerned, they go above and beyond providing educational videos on how to use the product in every aspect, including DAILY FREE webinars by Bruce covering live markets and how to use the software to enhance one's trading. A;sp there are about a hundered videos on how to use the product and ever facet of it that Bruce has produced over three years.

I am also growing quite tired of some of the people in this community telling me that I or Bookmap are trying to "sell" the product. I do webinars as a thank you to Bookmap for keeping me alive in the trading game and I find joy in helping fellow retail traders get on a level playing field with the big money and algos. At no point am I "selling" anything. I give you the information, explain why I think it is the most powerful software I have ever seen, and then give exact examples on how powerful it is. It is up to you to decide if the information that I present could be helpful to you and your trading. If you dont think it is, then dont suscribe to the product. It's that simple.

As far as the webinars I have done for Futures.io, did you actually watch them or just watch the first five minutes and start spewing your opinon in this forum? At what point did I tell viewers exact rules on how to use to the tools? All I do throughout both of them is tell traders that it is up to them to apply the information and incredible edge that Bookmap provides to what makes sense to them and how they trade. I specifically say many times that you do not want to trade like me or anyone else. To become a sucessful trader, you have to learn to develop your own edges with things that make sense to you.

Spend more time studying the markets and developing an edge then blasting people in a forum that are trying to help traders succeed.

Scott Pulcini


ScottPulcini View Post
Unless you are using the MBO data provided by the CME and have algos that can interpret the information, then what you think you are seeing in stop runs and icebergs is at best a guess. Again, if you think otherwise then keep doing what you are doing.

The stop order tracker tool isn't a guaranteed benefit. That is a somewhat shady sales pitch. I'm not knocking the MBO data or saying that seeing individual order sizes isn't helpful. It may has advantages to that depending on your strategies. But a stop order is always going to be a market order which triggers at the next price. The question is, is it a stop from from someone entering or exiting? That's the intuition part and what you are anticipating. Plus, you are trying to anticipate and act before those stops hit...not after they've hit and the data tells you there were stop orders You already know they're stop orders. The idea is you get paid when they hit if you're already in the trade.

Understanding that stop orders are being triggered is certainly a part of the game but don't get lost in that information. In addition, an iceberg can be comprised of several orders which don't always execute immediately. So there may be a refreshing order of 2000 on the bid which is the actual 'iceberg'. But then the same buyer may wait till sell orders stack there again before hitting them with another 2000. That's not technically an iceberg but it is the same guy moving size at the same price so end result is the same and you can see that on Jigsaw. By the way, you can have similar tools with MBO data using EdgeproX, and cheeper.
And, Scott, if you are paid by Bookmap you are selling a product. And when you say you are tired of some people of this community, Bookmap and you are being rude to us.

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