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Bookmap - Bruce Pringle (Chief Educator) - Ask Me Anything (AMA)
Thank you Bruce. I will let TOS know as they don't seem to understand the product yet. If you have any input as to adjust the session start time to 1/2 hour increments I would love to hear that too. Currently I can only start on hourly. It doesn't let you start at say 8:30 for example even though there is a button and settings to do so found here but it doesn't take the 1/2 hour settings. I appreciate your help and attention to this stuff.
Volt
Can you help answer these questions from other members on NexusFi?
We have daily Advanced webinars at 10am ET with live forward looking analysis for our Bookmap Global+ subscribers -- we read the current market and give insight to where price will likely move next. It is not hindsight analysis. For futures, we cover mostly NQ, but also the ES, RTY, CL, GC. Just ask me to cover the ES and I will be happy to do this for you. Our goal is to provide a solid foundation for your order flow trading.
Then we have live trading by futures trader Scott Pulcini every Thursday and stocks trader JTrader on Wednesdays. They are excellent. Moreover, we have many excellent traders in our Bookmap Discord chatrooms, including some real-time insights. The chatroom is free to all.
For other educators, you can find are many Bookmap futures traders by browsing through our Pro Trader webinars playlist. You can watch some of these webinars and reach out to these traders -- many offer educational and mentoring services, and their contact info is included in the webinar. I hope that helps direct you. Feel free to reach out to me via [email protected] and I'd be happy to chat and answer any other questions.
Our education is set up in a manner to provide a robust and comprehensive program for our users:
We have a 4-part video educational course that covers Market Mechanics, Market Structure, Strategies and Setups, and Correlations and Confluences.
Then we hold daily 60-90 min Advanced webinars where we read the hard right edge and then give insights where price will likely move next. It is not hindsight education. Thus you can apply what you learned from the course and see the potential edge order flow can offer in the live environment. This should aid you in developing and integrating order flow strategies within your trading methods.
Moreover, we offer live trading from Scott Pulcini (futures) and JTrader (stocks) 2 days a week. The goal is give insight to other professional trader's methods on how they read order flow and their specific approach to the markets and trade management. It is live trading and not hindsight.
Our goal to provide a solid foundation for your order flow education. I encourage you to take a look around and see what other platforms offer. Typically, if they offer education, it costs hundreds or even thousands of dollars. Bookmap's education is all included with your Global+ subscription.
We also have a network of other professional traders using Bookmap. Consider browsing through our Pro Trader webinar playlist. We are very happy with our network of traders, and believe their order flow reading is excellent. If you want to get their specific trading performance, then I suggest you reach out to them directly. Their contact information is within the webinars.
Perhaps order flow is not for you. That's fine. However, it is fact the market action is made up of orders. Understanding the liquidity and activity of the limit orders has an impact on the market. Bookmap's heatmap is simply visualizing both the current and historical order book action; it displays the context between the aggressor volume and price action. Our education is set up to unveil and give insight to that context, and help traders enhance their trading edge. I hope this helps.
Most of the advertised liquidity is fake and it will never transact. Some is true but it's a coin toss. Additionally modern day algos can smuggle large amounts of contracts by using queue spraying and other techniques in a way you won't notice using any sort of heatmaps no matter how hard you try
After many months of using bookmap I found that it brings up my attention to the details that are distracting me from the big picture and actually makes my trading performance worse than before
Would you say that this software is discretionary in nature? I.e., you have to interpret the signals/information? Or can it be objective as well?
Which instrument did you test it on?
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...
