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Bookmap - Bruce Pringle (Chief Educator) - Ask Me Anything (AMA)


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Bookmap - Bruce Pringle (Chief Educator) - Ask Me Anything (AMA)

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  #121 (permalink)
 matteo83 
San Escobar
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Denali/Rythmic
Trading: Futures & options
 
Posts: 70 since Apr 2020
Thanks: 28 given, 43 received


Howard Roark View Post
Intellectually, I'm un-decided on the whole concept of order flow in instruments like ES which literally are traded across multiple markets and arbitraged left and right (ES / MES / SPY / SPX + the impact of the options market). To me, the concept of order flow and volume seems to make more sense with instruments like maybe single stocks, commodities, etc. But I don't know...

You didn't ask me, but I'll answer from my own experience:

You are absolutely right here. SPX/ES flow is a crap and just a mixture of different interests.
I think heatmaps can be useful when trading some uncorrelated to sp500 small cap stocks

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  #122 (permalink)
 Flyer873 
Gainesville, Texas/USA
 
Experience: Intermediate
Platform: OFA, Jigsaw, Bookmap
Trading: Anything that moves
 
Posts: 21 since Jul 2013
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The WAY I use BookMap is very simple. When I get to an area where I'm interested in (Zone, Trend line Break, Previous VPOC, ETC) I pay close attention to BookMap and look for increase or decrease of volume, (Stop Run or Iceberg orders from the MBO indicators) and decide if I want to take the trade. Its called reading the ORDER FLOW.
BookMap is Nothing but a replacement of a standard DOM, BUT it gives you the information of past Volume that you don't get in a DOM. EXAMPLE: let's say at ES 4700 they're showing 1,200 contracts at that level. (EASY you can see that on your DOM, on BookMap you see that on the heat map) But we get closer to 4700 and they pull that contract out of the way and it now only shows 200. If you have a great memory, you can say to yourself, "Hey they just pulled a 1,000 off at 4,700 we must be going up." OR down. With a DOM you have to rely on your memory, with BookMap you see the exact moment they pulled that 1,000 lot. SO look at BookMap as a memory device. (Old guys like myself can't remember what we had had for breakfast let alone how much volume was a 4,700 3 minutes ago.
Good Luck.
Carl Mitchell

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  #123 (permalink)
 jaycee 
long beach california
 
Experience: Beginner
Platform: jigsaw
Trading: emini es
 
Posts: 2 since Jan 2021
Thanks: 0 given, 1 received



Howard Roark View Post
Hello everyone,

I'm curious how many of you are using Bookmap and if you could share your experiences?

From a glance it looks like a really interesting piece of software.

Thank you.

My intrest in orderflow got me into BM. At first its overwhelming. And once you have everything dialed in, it can be helpful. I went full on with all the MBO Iceberg, Stop run Indicator, Spotgamma etc. Wow I was seeing so much info... and paying for it. Ultimately the cost of BM subscription, data, and all the add-ons outweighs its usefulness. I would like to have the info but they really milk it.

However, for about an extra $40 a month, through TOS I have a version of bookmap that pulls data through DXFeed. Its just a slightly older version of BM and you can't add the add-ons. I compared both side by side before I canceled through Bookmap and just kept my TOS version. The data was identical and I had both futures and stocks.... just not MBO, but that's only needed for their indicators.

I will say that I did study how icebergs (hidden orders) and stop runs looked and reacted when I had the indicators and that experience was helpful to understand orderflow .

I actively use BM on TOS. I primarily use BM for scalping, noting liquidity events for future levels and confirmation of my levels.

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  #124 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 354 since Aug 2018
Thanks: 318 given, 350 received

Great comments, guys. Both the positives and the negatives.

Thanks you.

Howard

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  #125 (permalink)
leswar
Vero Beach, FLORIDA/USA
 
 
Posts: 3 since Jul 2020
Thanks: 16 given, 0 received


jaycee View Post
My intrest in orderflow got me into BM. At first its overwhelming. And once you have everything dialed in, it can be helpful. I went full on with all the MBO Iceberg, Stop run Indicator, Spotgamma etc. Wow I was seeing so much info... and paying for it. Ultimately the cost of BM subscription, data, and all the add-ons outweighs its usefulness. I would like to have the info but they really milk it.

However, for about an extra $40 a month, through TOS I have a version of bookmap that pulls data through DXFeed. Its just a slightly older version of BM and you can't add the add-ons. I compared both side by side before I canceled through Bookmap and just kept my TOS version. The data was identical and I had both futures and stocks.... just not MBO, but that's only needed for their indicators.

I will say that I did study how icebergs (hidden orders) and stop runs looked and reacted when I had the indicators and that experience was helpful to understand orderflow .

I actively use BM on TOS. I primarily use BM for scalping, noting liquidity events for future levels and confirmation of my levels.


What's the process to order this thru TOS? Aphonecall to TDA? Thanks.

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  #126 (permalink)
 jaycee 
long beach california
 
Experience: Beginner
Platform: jigsaw
Trading: emini es
 
Posts: 2 since Jan 2021
Thanks: 0 given, 1 received


leswar View Post
What's the process to order this thru TOS? Aphonecall to TDA? Thanks.

Send a message through the platform requesting Bookmap. They'll confirm the extra fee for data. Restart TOS and a new tab will be available for BM.

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  #127 (permalink)
leswar
Vero Beach, FLORIDA/USA
 
 
Posts: 3 since Jul 2020
Thanks: 16 given, 0 received


jaycee View Post
Send a message through the platform requesting Bookmap. They'll confirm the extra fee for data. Restart TOS and a new tab will be available for BM.


Thanks.

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