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most expensive and advanced order flow tool


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  #1 (permalink)
bcsandy
CHENNAI
 
Posts: 81 since Sep 2020
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dears
can you let know most expensive and advanced order flow tool just for my information purpose.


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  #2 (permalink)
 Deetee 
Amsterdam, The Netherlands
Market Wizard
 
Experience: Intermediate
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Hi!
I guess Bookmap is the thing, if you're trading CME futures (NQ / ES / ...), but I don't have much experience with others. Bookmap is showing the full order book.
I used IRT and also NT8, but Bookmap seems to be unique, with clear charts.

The cost is for Bookmap + Rythmic data, and adding the (expensive) MBO indicator is a plus. The MBO indicator is showing how many stoploss orders and iceberg orders have been triggered, which gives you information that not many retail traders have.


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  #3 (permalink)
bcsandy
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Posts: 81 since Sep 2020
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thank you


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  #4 (permalink)
 
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 forgiven 
ashville NC
 
Experience: Intermediate
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Deetee View Post
Hi!
I guess Bookmap is the thing, if you're trading CME futures (NQ / ES / ...), but I don't have much experience with others. Bookmap is showing the full order book.
I used IRT and also NT8, but Bookmap seems to be unique, with clear charts.

The cost is for Bookmap + Rythmic data, and adding the (expensive) MBO indicator is a plus. The MBO indicator is showing how many stoploss orders and iceberg orders have been triggered, which gives you information that not many retail traders have.

how does the MBO indicator help you in you re trading ? i would agree most retail traders do not have it. do you think that information is a game changer .


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  #5 (permalink)
 Deetee 
Amsterdam, The Netherlands
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader / IB /Rithmic
Broker: EdgeClear / InteractiveBrokers / Rithmic
Trading: DAX / (M)NQ / (M)ES
Frequency: Daily
Duration: Hours
Posts: 634 since Jul 2019
Thanks Given: 2,907
Thanks Received: 877

For me the MBO indicator is not a game changer. I don't have a full focus on this indicator; maybe not so smart considering the montly fee for the MBO indicators (although I got it some months ago for half the price). I'm currently more focussed on other stuff.

There are setups using the SI indicator (Stoploss/Icebergs). For instance, when many stops are hit and bought (or sold) by icebergs, it's common for price to reverse for at least a short term of time. These are low risk trades as the SL to use is pretty tight.

For me Bookmap is a game changer.


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Last Updated on September 28, 2020


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