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

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  #11 (permalink)
Reno, Nevada
 
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I signed up and I like it. There's a lot of information packed into this platform. Studying it in replay this weekend.

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  #12 (permalink)
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thanks

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  #13 (permalink)
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My understanding is that Bookmap only works with low TimeFrames
However, I thought of double validating my understanding

I'm a Swing Trader, lowest TF on my chart is H4, and wondering how Bookmap would look like on H4 upward? (some chart examples or youtube please)

Thank you,

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  #14 (permalink)
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Hi guys,

It is my pleasure to welcome Bruce Pringle @ Bookmap for our 387th webinar event, on Thursday, May 28th @ 4:30 PM Eastern US.

The title for the event is "Understanding Order Flow Stop Runs & Icebergs", and bullet points include:

- Looking at different order types in Order Flow
- Differentiate Stops & Icebergs within the order flow
- Incredible new level of market transparency with precise MBO data
- Gain an edge optimizing entries and exits



Register for the event:
https://on.futures.io/is8ko

Mike

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Webinar recording:



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@Bookmap,

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:



How can you see if an iceberg is buying? Can you also detect the volumeof the iceberg?

Is there a connection between the numbers right under and the volume of the transacted icebergs?

Is the 6E data also privided by Rithmic?

How do I trade based on this orderflow data? Do you also provide any structure as to how to utilize bookmap?

Using reset mode, negative values are sell icerberg orders and positive values are buy iceberg ordes, am I rigt?

does this indicaator confirm entry or wave off

Bruce... I signed up for 14day trial for Rithnic... Please, which do I check? Aggregated quotes or Plugin mode?

can you tell me how to format the instrument in Rithmic? example for ES

how does it compare to Cumulative Delta? If the price remains the same and there are buy icebergs, one should see a falling cumulative delta, right?

Is this true ? Global does not allow trading for futures ? Only Global + allow trading in futures ?

how are you interpreting a sell top run going down, yet the icebergs are going up ? one might think the orders being absorbed might prevent a sift down?

Can the SI tracker be avoided by large market participants who want to hide their activities? I read that large market participants can re-route their orders so they do not show on the rithmic MBO data. Thanks.

it looks like the sum graphs of SI plateau as the day progresses, e.g., in some of today's examples the lines crowded the top of the graph. Does the SI line re-set to avoid plateau-ing or should the trader reset himself or herself to get a value?

Do you have an idea on when BookMap will work with TD Ameritrade

Did I hear you say something about Fridays being free?

On the bottom right of the screen, what do the numbers for icebergs and stops represent?

Is there support at Bookmap to understand this better, or do you get that mainly through the education videos?

CME is only Global Plus, right so how can it work with Global?

do you plan to develop a NoCode Strategy Builder?

how useful is it for trading news after econ news comes out?

Does MBO Bundle work with dxFeed CME Data?

is the mbo indicator available in a free trail

How does the previous Iceberg detector correlate with the newer one in terms of accuracy %?

Any other feeds going to offer MBO data in the future?

how does mbo manage spoof orders on the book?

Is training provided for all the items you are describing today?

Can you demonstrate the exponential setting for the Iceberg and Stop Orders

What coding language integrates the easiest? C? C++, Python?

Does Bokmap work without Rithmic data?

I have continuum with NinjaTrader. So I will have to get Rithmic on top of my current data provider to have your product work. Is that correct

Rithmic data cost included in Globalplus?

A client uses Infinity Futures, which uses TransAct Futures. Will Bookmap work well with this and are their any limitations (for not using Rithmic et al.)?

Explain, entry and exit based on context and indicator

MBO bundle instead on monthly do you have one time price, like lifetime

How do you differentiate between buy stop orders, and sell stop orders?

I use IQFeed , do i need to go on Rithmic ? Is there a big difference ?

Hi! Do you have a fav about S-I settings? Sum, expo or reset?

And another one please: this is more for Bookmap general and not to Stop-Ice: Do you have plans to add more indicator panels? The only one is very limited now, after all these goodies on the marketplace...

Can the colors be adjusted...especially for those of us that are color-blind? Thanks.

is this just for futures? Or can you use it with stocks? ETFs?

can you use more than one indicator panel?

if i have a bookmap subscription do i get that live training daily?

cme is MBO only, so how does this work with nymex ?



Thank you for the questions.

Mike

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  #17 (permalink)
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Web: Bookmap
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Any questions related to Bookmap education are merged here:
  1. How do I trade based on this order flow data? Do you also provide any structure as to how to utilize bookmap?
  2. Did I hear you say something about Fridays being free?
  3. Is there support at Bookmap to understand this better, or do you get that mainly through the education videos?
  4. Can you demonstrate the exponential setting for the Iceberg and Stop Orders
  5. Explain, entry and exit based on context and indicator
  6. if i have a bookmap subscription do i get that live training daily?
  7. Is training provided for all the items you are describing today?

Bookmap offers robust free advanced education for its subscribers. You get access to a 4 part educational course, as well as our daily advanced live order flow webinars. In these webinars, we cover how to read order flow. It is not a trading room, but we will cover various trading strategies. On Fridays, the Advance webinar is free and open to all. We also are there to answer your questions regarding order flow and Bookmap functionality.
If you want additional trading services, please access our Bookmap Educator/Partner Directory. You can also attend or watch recordings of our Bookmap Pro Trader webinar series to see how professionals use Bookmap and trade order flow.

How can you see if an iceberg is buying? Can you also detect the volume of the iceberg?
When a portion of the buying iceberg transacts, then the S-I Tracker outputs the volume of the executed iceberg portion. See Fig 5 in our Blog article.

Is the 6E data also provided by Rithmic?
Yes, Rithmic provides MBO data for all CME futures, including the CME currency futures like the 6E.

Using reset mode, negative values are sell iceberg orders and positive values are buy iceberg orders, am I right?
Thatís correct.

Does this indicator confirm entry or wave off?
Stops & Iceberg Tracker can be used for both. How to use it is totally up to the trader. Most importantly is to understand how it works and why it is important.

I signed up for the Rithmic 14 day. Please, which do I check? Aggregated quotes or Plugin mode?
If you use Aggregated quotes you will not receive MBO data.
MBO is available also in a Plugin mode (connected to Rithmic R-Trader). Learn more about R-Trader plugin mode here.

Can you tell me how to format the instrument in Rithmic? example for ES
It is ESM0. For the symbol guide, visit our Symbols Guide here.

How does it compare to Cumulative Delta? If the price remains the same and there are buy icebergs, one should see a falling cumulative delta, right?
Yes, if transactions are on the bid and there are iceberg behind, youíll see a drop in Cumulative Delta and SI Tracker / Iceberg indicator will rise.

Is this true ? Global does not allow trading for futures ? Only Global + allow trading in futures ?
Yes.

How are you interpreting a sell stop run going down, yet the icebergs are going up? One might think the orders being absorbed might prevent a shift down?
In many cases you are right, however, in other cases, the icebergs cannot absorb all the selling pressure and price will continue to drop.

Can the SI tracker be avoided by large market participants who want to hide their activities? I read that large market participants can reroute their orders so they do not show on the rithmic MBO data. Thanks.
Yes, they can avoid it using synthetic/heuristic icebergs. Read more here.

It looks like the sum graphs of SI plateau as the day progresses, e.g., in some of today's examples the lines crowded the top of the graph. Does the SI line re-set to avoid plateau-ing or should the trader reset himself or herself to get a value?
There are 3 modes of accumulation. If you want to see the spikes, use the Reset or Exponential modes, if you wish to see the accumulation over time, use the ĎSUMí mode which may plateau in some cases.

Do you have an idea on when BookMap will work with TD Ameritrade?
We donít know yet. We will inform when we know more.

On the bottom right of the screen, what do the numbers for icebergs and stops represent?
The bottom right widget panel shows the latest value of the Stops & Iceberg Tracker. If youíre in real time mode youíll see the current value of the indicator.

CME is only for Bookmap Global Plus, right so how can it work with Global?
No, Bookmap Global works CME futures as well. Bookmap Global Plus enables trading as well as other addons.

Do you plan to develop a NoCode Strategy Builder?
Bookmapís Java based API is code based only. It allows you to build your own automated strategies or indicators. You can also sell your addons or buy third party addons on Bookmap marketplace. We plan to release ability to easily create / adjust addons via Javascript.

How useful is it for trading news after econ news comes out?
In addition to watching the dynamic of the order book after news events, being able to see the stops and icebergs around those areas would give valuable insight on the market participants intentions

Does MBO Bundle work with dxFeed CME Data?
At this stage only Rithmic supports CME / MBO data. dxFeed is working to update their market data to include it as well but itís not available at this time.

Is the MBO Bundle indicator available in a free trial?
No, we do not provide trials for the MBO bundle. The price right now is 50% off. If you wish to lock in that recurring price, please subscribe before July 1, 2020.

How does the previous Iceberg detector correlate with the newer one in terms of accuracy %?
It is difficult to compare because it depends on your data provider, the instrument you use, and the parameters you set on both indicators.

Any other feeds going to offer MBO data in the future?
Yes. It depends on when other 3rd parties market data providers will offer MBO data.

How does MBO manage spoof orders in the book?
The SI tracker shows only the transacted volume. A spoof is a limit order that tries to manipulate the traders and is visible on the heatmap.

What coding language integrates the easiest? C? C++, Python?
Bookmap API is in Java. If you wish to write an addon or adapter in languages other than Java you can use all supported by OS interprocess communication methods including web sockets, JNI, etc. However, you can load your own minimalistic Java module that acts as a proxy agent. To read more about Bookmap API click here.

Does Bookmap work without Rithmic data?
Bookmap supports 10 different market data providers for CME futures. If youíre referring to the Stops & Iceberg Tracker, it works only with Rithmic data and CME instruments.

I have CQG continuum with NinjaTrader. So I will have to get Rithmic on top of my current data provider to have your product work. Is that correct?
Yes. you have to have a direct connection of Rithmic or Rithmic R-Trader Pro to Bookmap. NinjaTrader connected to will display full market depth but it will not display MBO data. Thus when Bookmap is connected via NinjaTrader with Rithmic, MBO data will not display.

Is Rithmic data cost included in Global Plus?
No. Given prices are for Bookmap software only. Data from the third party providers is not included.

A client uses Infinity Futures, which uses TransAct Futures. Will Bookmap work well with this and are there any limitations (for not using Rithmic et al.)?
For the Stops & Iceberg Tracker you have to have Rithmic data. It wonít work with other market data providers. Rithmic also provides full depth data which is not offered by TransAct.

MBO bundle instead on monthly do you have one time price, like lifetime?
We do not offer a lifetime price for the MBO bundle at this stage.

How do you differentiate between buy stop orders, and sell stop orders?
You can see it based on the direction of the Stop Tracker. In Buy stop itíll go up and in Sell Stop itíll go down. See Fig 3 in our Blog article.

I use IQFeed, do i need to to have Rithmic? Is there a big difference?
The S-I Tracker wonít work with any other feeds other than Rithmic and CME instruments at this stage.

Hi! Do you have a favorite S-I settings? Sum, expo or reset?
It depends on your personal preference. If you wish to see spikes, use it in reset / expo, or use the SUM mode to get insights of accumulated values over time.

Do you have plans to add more indicator panels?The only one is very limited now, after all these goodies on the marketplaceÖ
Yes we plan to and it is added in Bookmapís roadmap but we do not have a release date at this time.

Can the colors be adjusted...especially for those of us that are color-blind? Thanks.
Yes. It is part of the SI Tracker settings.

Is this just for futures? Or can you use it with stocks? ETFs?
At this stage the Stops & Icebergs Tracker works for CME futures only with Rithmic data. However Bookmap can also connect to stocks and digital currencies.

CME is MBO only, so how does this work with NYMEX?
CME Group includes 4 exchanges: CME, CBOT, NYMEX, COMEX. All support MBO data.

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@Bookmap,

The following are some of the questions during the last 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.

I tried to pick out the specific Bookmap questions here, leaving the Scott questions elsewhere:



is the promo price good for the whole year? I missed that.

im a bit confused still. If I want to trade ES futures, so I need Global Plus? Then the MBO is extra to that subscription?

i currently use AMP as my broker....altho use Denali with my data feed into my Sierra Charts. I need to cancel Denali and get Rithmic thru Amp? I may need help with configuration....

can you actually trade on BookMap?

Any plans to get this for equities in the future?

How are the stop runs detected and their figures calculated?

So is the legacy iceberg indicator accurate for a quality data feed such as Rithmic?

What about his iceberg settings and why?

Does the SI indicator included with a life time purchase of Global Plus?

If i go through NinjaTrader for my Rithmic feed will I get clean data?

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

Do I need the Rithmic CME Data Bundle for $99.00 or is the CME for $39.00 enough for S-I Tracker?

Do I need the Rithmic CME Bundle for $99.00 or is the CME Data for $39.00 enough to use the MBO Bundle?

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 have to buy another license to use liquidity indicators?

what program is TAS

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

it says bookmap global plus has an iceberg tracker on your website. what's the dirrerence here?

So the Rithmic data fee is already included in the 89 dollars?

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

Have you approached Ninja Trader to keep the MBO data in thier feed?

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

Could you define a stop run, I understand iceberg

The link for the mbobundle isn't working - won't reset password

what are the thresholds for ZN and ZB?

the MBO bundle link is not working - cannot check out

What was the special link to TAS?

can i place orders in Interactive Broker via Bookmap?

bruce - what does rythmic charge for the data fee? round about idea

how many levels does rithmic offer?

what is the approximate cost fore the rhytmic feed

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?

I'm already subscribing to MBO, can we get to using it in the real world?

what are the spheres?

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

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

can we pick other brokerage firm for trading

does it work with NinjaTrader

Can you trade from the Bookmap charts?

tas has its own data feed it seems can it be used to run bookmap?

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

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

so what is the main difference with the Globex and Globex Plus?

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

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

So the lock-in price is for ever lol after July ?

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

So whatís the cost off the add ons .. please

Does bookmap have any plans to add audio alerts with user specified thresholds for SI values

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?

If I'm already getting Rithmic data from another platform, can I use it without paying Rithmic two times for the same data?

The Bubbles are the iceberg orders?

Do you have an ETA on the Bookmap Cloud service?

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

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?

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

Can you use ninjatrader as your main platform with the bookmap indicator to feed bookmap?

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



Mike

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  #19 (permalink)
Reno, Nevada
 
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Posts: 335 since May 2011
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I purchased the bundle after the webby. Have had a lot of problem connecting. Still can't connect to Rithmic and their support can't figure it out.
The download is in a zip file which has to be opened and uploaded as .jar files. There are no instructions anywhere as to how to install the bundle.

They really should be more prepared before giving a webinar on a new add on. It looks like something I could use, but if I don't get these issues worked out by Monday, going to request a refund with a note to let me know when they're organized with proper instructions for this new add on.

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  #20 (permalink)
Houston
 
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Where is the link to purchase the MBO bundle? I cannot find it anywhere with the discount option.

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