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Bookmap - Bruce Pringle (Chief Educator) - Ask Me Anything (AMA)
Can you connect Bookmap to trade CME futures?
In website it only talks about trading stocks on Tradestation.
What data feed would be needed( only for CME futures)?
What Bookmap package needed for that?
I was looking at website and it looks like that the price of setup would be global+ 99$ + data 39$ so 140$ per month - to trade CME futures connected to Tradestation?
To connect Bookmap to stocks or futures, first you need a subscription to Bookmap Global, or Global+ if you want to trade from the Bookmap chart. Then you need to subscribe to dxfeed data for stocks, or a host of data providers for futures. Note only Rithmic offers MBO data for CME Group futures at this time. Bookmap does not connect to Tradestation nor Interactive Brokers for data. However, you can send your trade data to Tradestation or IB with a Global+ subscription.
Hi Bruce,
I've watched a few videos on all this and it does seem like a game changer.
However I am confused about one aspect.
In the above video, at 8min38secs in you talk about a sharp move higher that was a stop run, and then point out how the cumulative iceberg indicator rose afterwards which shows that iceberg orders are stepping in to support the price move higher.
The bit I don't understand is how you know these icebergs were buyers simply because the cumulative iceberg reading went higher. This jump in the iceberg reading could also have been a large selling iceberg stepping in couldn't it? How do you know that it's a buy iceberg just by looking at the cumulative reading? Is there a bit of info that I've missed on this (which is more than likely!).
These were icebergs buying because the blue iceberg line rose up. They are not sellers. We know this due to the MBO Data from Rithmic and the Bookmap Stop&Iceberg Indicator, it's just fact. Note these are only native CME iceberg transactions, not synthetic transactions. I hope this answers your question.
Hi Bruce,
Thanks for the quick reply.
I understand why I was confused. I thought I heard the iceberg line being referred to as cumulative and assumed this meant it just monitored the amount of iceberg orders in general rather than the actual direction of the icebergs. If it was just monitoring the cumulative amount of icebergs with no buy/sell identification then the indicator could also have been showing a large amount of sell icebergs being opened. I understand now that this is not the case!
I just started looking at bookmap on TOS and was wondering if you could give me the top 3 educators that could train me how to actually use this product for the ES contract? I've seen many after the fact videos and it seems there are few who are trading it live in this market . So I am looking for a good educator but they can't be using all the bells and whistles as TOS does not have that incorporated into their platform. Is there anyone that is trading it live in the first 2 hours of the day session to help show you things as they are unfolding ? Too often we see the good trades from the left side of the chart. I want to see someone who is consistent and can spot some of the key ideas over a training period. Thank you.
Unfortunately, TOS has little support for this product and when I have reached out to you folks at bookmap you point me back to TOS hence the need for a good third party educator.
Look out for their so called "educators". One of them J-something trading stocks was reported to be begging for help on some web forums while struggling to meet ends. One of fellow FIO members has some screenshots taken from that discussion. That was just a few years ago and now he is their premium educator
Same story with others. No verified track of record. And we should not accept any education from unverified people.
I can also post multiple screenshots illustrating in hindsight what lucrative all of those liquidity-based setups are. Of course I'll not mention all the other cases when it simply gives completely no edge to wash your brain staring at this colorful heatmaps and all those funky bubbles because visible liquidity is only a minor part of overall picture. And mostly fake
