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I've watched some videos of FT71 and bookmap and he does not seem to use the fancy indicators....mostly looks at liquidity to help confirm his zones he has defined with Volume profile and creates "Zippers" ( price consolidation zones) and confirms it with volume clusters but that can be done without bookmap. Anyway, I am not looking to bash bookmap I'm just looking for someone who is actually trading it from the right side of the chart! I just would like to know if there are repeatable patterns that can be used via Bookmap that tilt our trading beyond a 50/50 proposition.
I have seen his stuff and have his course. He likes to buy or sell beyond the big bubbles but these examples are also after the fact. Does he actually trade live somewhere? Unfortunately like I said above , TOS doesn't support some of the fancier stuff like ice berg trackers or MBO stuff....I think TOS and bookmap need to get themselves coordinated
I also have a friend who took Walters (TTWTRADER - German guy) course and while it is very detailed he never shows you him trading from the right side. So many of these examples look great after the screenshots are taken.
These all seem to be going down the " It's all subjective " path...like footprints or Jigsaw...so many marketing and I wonder who is trading what they sell.
So hoping bookmap can provide me with what I asked in my first post above.
From my experience watching Scott on Thursdays during the Bookmap "Pro Trader Webinar"....
What I saw week after week of what I would call breakout trades. Needless to say most were losers, " Stop hit to the exact tick" as Scott would say.... Most of us know the breakout trades historically don't work for much of a real move.
Also, we have seen many of the scrambled egg charts, Scott's charts are not scrambled but there is enough charts put together would make a great omelet.
From Bookmap, TOS, and Sierra, Ludwig Levels, TickStrike and I don't know what else other market profile and fractals.....sheeze that is alot to digest, if it really makes you consistently profitable then to each his own.
" Consistently profitable", show me the IRS statement as one trader put it here on FIO.
Oh, I received an email I think it was last week about him or they managing your money if you don't have time to trade.
Guess, my 14 cents is in the mix.....
Dear Volt,
Ty. for your comments on this subject. I love Bookmap and have the Global version.
My reply is hopefully to broaden out the subject a little. I have been a Tradestation customer for over 20 years.
My comment about Bookmap is they have no people you can hire as a programmer
to produce your own indicators. I have not had any luck at finding someone who programs in Javascripts which I believe is the language needed to port some of my TS. indicators over to Bookmap.
TS. has the Traders Forum and many coders for Easy Language you can hire if you cannot code like an Old Guy(76) like myself.
If anyone has found a capable programmer who has done some Bookmap programming I would be very appreciative to get their name or to hear that I am not the only one having this problem.
I'm really just looking for someone who trades it on the ES market and can train/coach me. My point really is that nobody seems to be actually trading with it who offers education using bookmap. See my first post on this subject from a few days ago. That sums it up. I don't need anyone coding fancy indicators or anything. I'm glad you are enjoying bookmap.
He now has his own room, but I guess if you use just the TOS-version it doesn't make sense, because he mostly trades based on the MBO-bundle (which isn't available with the TOS version)
It is way better to find your own style how to use BM. I use it since years and IMHO it is very helpful to trade with it as completion to my other charting and analysis. I could find some nice patterns with the MBO-bundle, which work fine.
TOS users beware with Bookmap. My friend has already reported to TOS but here is a snapshot of the ES filtered by a size of 50. Note how there are very few volume dots displayed as the market is receiving data. Image two is what happens when you close down TOS and then restart and import the data. Notice how many dots there are now. So it seems TOS has issues when they bring in the data live. It is not accumulating and displaying the volume dots correctly. This makes the volume dots useless and cannot be trusted. Hey Bruce, are you reading these ? I hope you work with them to resolve the issues and see my initial questions. Of course getting trained in bookmap will be useless if we cannot trust the data. I hope this can be resolved. Now I am not sure if I can trust the heatmap either. no dots
You have the ES filtered Minimal Trade Size as 50 for your live data.
Then you close TOS Bookmap
When you reopen Bookmap, the backfill data (not live data) shows many volume dots because the backfill data is aggregated once per second, thus there will be many more volume dots that meet the filtered criteria of 50. However the live data moving forward should perform as before.
The backfill dxfeed data is aggregated by design in order to make it lighter. If it were live data, it would take a long time to download.
I hope this answers your question. Please let me know.