BOOKMAP for learning Level 2 and T&S

[Alastair 114]

Many new traders struggle to learn level 2.  This was a challenge for me as well. Its WAS like kryptonite, .....................No more. (Read full thread for knowledge). 

The Bookmap education series teaches how to use the trading tool BUT also it teaches you the mechanisms of the market and how to read in bookmap L2 which can easily be translated into the DAS montague and Time & Sales.

In my opinion the Bookmap education series is a MUST for any trader.  Start with the link below.   As u watch the video remember the following two points:

1.  MARKET ORDERS move the market (aka aggressive orders the balls)

2. only LIMIT orders (aka passive orders) are shown in the book of an exchange(Pools of liquidity).  Price generally moves to LARGE pools of liquidity, i.e. LIMIT orders.

 

WARNING: The ease of use is unbelievable, u will be tempted to buy.  (Watch more on YouTube channel.).......then submit to ur temptations.

 

SUGGESTION ON HOW TO WATCH PRICE---  As  PRICE approaches a level focus ur eye on the T&S window initially, top line,  (eyes should move from T&S to L2 in montage back to candles, then to T&S) and watch the price and size of the BID/ASK.  This tells you exactly wht will happen in the next few seconds and the potential start or failure of a move/swing.  This indicator only tells you the start, does not allow u to read if it will continue. (Tht is for another post/thread soon.........).

 

 

 

Edited December 31, 2021 by Alastair

[Justin 264]

Bookmap is pretty Amazing - I watched a shorter tutorial last week when I heard Thor talking about it. I'll definitely give this deeper dive a watch. It really is great for visual learners (like myself)!

[Alastair 114]

7 hours ago, Justin said:

Bookmap is pretty Amazing - I watched a shorter tutorial last week when I heard Thor talking about it. I'll definitely give this deeper dive a watch. It really is great for visual learners (like myself)!

 

I am a visual learner also. So bookmap was instrumental in my L2 education............a $3000.00 value.......... for L2 courses i c being charged.

[TraderWayne 11]

I'm also a big fan of Bookmap and am definitely looking to add some type of explicit Bookmap criteria to my (first) trading plan.

I was hooked after watching this one of their videos: 

 

Edited May 5, 2020 by Wayne

[KyleK29 260]

I've been playing some with Bookmap. Just out of curiosity, how many users here do we have that use it daily?

I wrote a quick interconnect tool so that you can pull up a Bookmap chart when you have a DAS Montage window selected. Did this because I only want to devote a single monitor to Bookmap. Gauging if it's worth it to package and release it or not.

[Justin 264]

56 minutes ago, KyleK29 said:

I've been playing some with Bookmap. Just out of curiosity, how many users here do we have that use it daily?

I wrote a quick interconnect tool so that you can pull up a Bookmap chart when you have a DAS Montage window selected. Did this because I only want to devote a single monitor to Bookmap. Gauging if it's worth it to package and release it or not.

🙋‍♂️
Definitely worth it (even if it's just me 😂)

[Alastair 114]

1 hour ago, KyleK29 said:

I've been playing some with Bookmap. Just out of curiosity, how many users here do we have that use it daily?

I wrote a quick interconnect tool so that you can pull up a Bookmap chart when you have a DAS Montage window selected. Did this because I only want to devote a single monitor to Bookmap. Gauging if it's worth it to package and release it or not.

 Curious to see this.  Have not invested yet in BM.  But the " theory"  when implemented is I would overlay a BM TAB (pop them out) onto my DAS 1M chart window.  Currently run 6 charts per symbol D, 4H, 1H, 15M, 5M and 1M .  6 + 1 monitors.  So the BM TAB becomes my 1M chart.  

Can ur interconnect control the size/location of the popped out BM TAB  in a multi-monitor environment, considering each monitor has a montage ? Tht is a stupid question when Kyle is writing the code.....sorry.  I need to remember  my place .....LOL.

The thing is to have the full history in BM u need to leave it open, start early in the trading day.

I assume kinda like a hot key feature to pop it out/minimize/maximize only when required.  Or only when price alert goes off as it comes close to a pre-defined level. ?  

I am very interested sir........more traders will pickup BM but its growing in BBT.

 

 

[TraderWayne 11]

I'm still a newbie and discovering/developing my edge. But I might start using Bookmap as my primary chart.

I've found that it really helps to spot liquidity-to-liquidity plays. And since you can lean on a close by level, the potential r-multiples are great. See attached/below.

My current challenge is finding tickers that display consistently clear liquidity. I've started to try and correlate the "good" charts with some technical statistics (Relative Volume, Float, Institutional %, Market Cap). But I haven't  seen anything that I can throw into a pre-market scanner. Though, this is only day-4 of playing around with Bookmap.

[sawtooth500 33]

I've been using Bookmap and I really like it. Definitely worth the money. It's like a visualization of the L2, along with the history of L2 in the past. Think of Bookmap as a chart whereas the DAS L2 is just a ticker tape. 

Biggest shortfall of Bookmap however is you can only use Dxfeed to U.S. equities data, and that does not include the ARCA exchange, so sometimes there is missing liquidity in Bookmap that you see in the DAS L2. I've talked to them about getting this rectified but the problem is on the Dxfeed not bookmap side and it doesn't seem like it will get rectified anytime soon unfortunately...

What I'm trying to figure out is if the Bookmap Global+ subscription is worth it - I made this post asking about it in the bookmap forums https://bookmap.com/forum/viewtopic.php?f=19&t=1095&sid=a0cb4250b9b93f9da1adba3acedcff23 but have yet to get any response. If anyone has an opinions on that, I'd love to hear them. 

By the way, if you are thinking of trying Bookmap, just know that the free version has U.S. equities delayed by about 70 hours, so it's pretty much useless, you'll need to get the paid version to eval it. 

Lastly, Kyle, PLEASE release your interconnect with Bookmap! That would be crazy awesome to have bookmap automatically pull up the correct chart when you have your DAS montage up!

[KyleK29 260]

22 hours ago, Alastair said:

 Curious to see this.  Have not invested yet in BM.  But the " theory"  when implemented is I would overlay a BM TAB (pop them out) onto my DAS 1M chart window.  Currently run 6 charts per symbol D, 4H, 1H, 15M, 5M and 1M .  6 + 1 monitors.  So the BM TAB becomes my 1M chart.  

Can ur interconnect control the size/location of the popped out BM TAB  in a multi-monitor environment, considering each monitor has a montage ? Tht is a stupid question when Kyle is writing the code.....sorry.  I need to remember  my place .....LOL.

The thing is to have the full history in BM u need to leave it open, start early in the trading day.

I assume kinda like a hot key feature to pop it out/minimize/maximize only when required.  Or only when price alert goes off as it comes close to a pre-defined level. ?  

I am very interested sir........more traders will pickup BM but its growing in BBT.

 

 

 

Right now it hooks into the Windows API and uses the native window manager, so like you said, when you fire the hotkey in DAS it sends the %SYMB% to the program which then scans for a Bookmap program, and then subscans for that SYMB. It will then do two things: If the window is minimized status, it will restore it (just like you clicking it in the taskbar), so wherever you had it before it will come up. It when then bring it to the foreground of all windows. This way it can be on another monitor and not interfere.

The price-alert level is interesting.  DAS doesn't allow you to attach commands to alerts, but I have another partially finished utility that interconnects with DAS to facilitate that.

 

19 hours ago, sawtooth500 said:

I've been using Bookmap and I really like it. Definitely worth the money. It's like a visualization of the L2, along with the history of L2 in the past. Think of Bookmap as a chart whereas the DAS L2 is just a ticker tape. 

Biggest shortfall of Bookmap however is you can only use Dxfeed to U.S. equities data, and that does not include the ARCA exchange, so sometimes there is missing liquidity in Bookmap that you see in the DAS L2. I've talked to them about getting this rectified but the problem is on the Dxfeed not bookmap side and it doesn't seem like it will get rectified anytime soon unfortunately...

What I'm trying to figure out is if the Bookmap Global+ subscription is worth it - I made this post asking about it in the bookmap forums https://bookmap.com/forum/viewtopic.php?f=19&t=1095&sid=a0cb4250b9b93f9da1adba3acedcff23 but have yet to get any response. If anyone has an opinions on that, I'd love to hear them. 

By the way, if you are thinking of trying Bookmap, just know that the free version has U.S. equities delayed by about 70 hours, so it's pretty much useless, you'll need to get the paid version to eval it. 

Lastly, Kyle, PLEASE release your interconnect with Bookmap! That would be crazy awesome to have bookmap automatically pull up the correct chart when you have your DAS montage up!

 

Yeah, eval with the delayed data is annoying. Even if it says it's delayed by 24 hours, the markers still show today's timestamp and it could be way more than 24 hours, you have to manually compare charts to figure the date out.

 

I have found some deals (and I'm sure BBT could get a referral link for Bookmap w/ discount), one is $147 for 3 months (quarterly) of Global +  (half off, essentially), after that it's full price (or you can reduce to just Global). Data is then something like $59 (Nasdaq) + $49 (EDGX) per month, so even if you just did Nasdaq you're paying a lot to play with it.

The other deal was full price for Bookmap, but you pay $59 for the Nasdaq/Edgx combo for the first month .. that seems to be a better 'trial' deal.  Try it for the first month like this and then move to the other deal.

[Justin 264]

1 hour ago, KyleK29 said:

 

I'm sure BBT could get a referral link for Bookmap w/ discount

I'll look into it!

[Dankan 0]

Let me  know if anyone is making money on this

[Alastair 114]

@KyleK29  "........ then scans for a Bookmap program....."  Two considerations, not sure if u catered  for them:

1. Bookmap not open/started yet - if BM software not started yet can u start, sign in (if credentials saved...) and open symbol TAB then pop-out to a default location (or monitor with montage), which is used on first startup

2, Bookmap Open but no TAB found - Open TAB for symbol to default location or monitor with montage.

Some additional lines of code to consider, think it could be added ?

[KyleK29 260]

On 5/23/2020 at 6:49 AM, Alastair said:

@KyleK29  "........ then scans for a Bookmap program....."  Two considerations, not sure if u catered  for them:

1. Bookmap not open/started yet - if BM software not started yet can u start, sign in (if credentials saved...) and open symbol TAB then pop-out to a default location (or monitor with montage), which is used on first startup

2, Bookmap Open but no TAB found - Open TAB for symbol to default location or monitor with montage.

Some additional lines of code to consider, think it could be added ?

 

Most of that is doable. Bookmap has an API, but it's not for their UI so I've been building a rudimentary one out which is a tad annoying because they don't follow any Windows Accessibility (for the blind/deaf) protocols like they should, which is the easiest way to hook into an existing UI. I've requested some additions to their hotkeys, but not-sure how responsive they are to implementing feature requests (even though these would likely take them a few minutes to implement). Right now, it can do this:

- Check if Bookmap.exe is running and display a notice if not --> I can add an option to open a new Bookmap session.
- Close All Open Tabs
- If symbol doesn't work, subscribe to a new symbol [using user-defaults]. Two modes (see next).
- Tab or New Window mode --> If the user option is set, and a SYMB is not found, it can choose to A) do nothing [notify user], B) spawn subscription in new tab, or C) spawn subscription in new window.
- Works in Tab, New Window, or Tabs + New Windows. Meaning that it keeps a catalog of the relevant SYMB's and the program Window handles for quick look-up.

 

I may add the ability to spawn subscriptions to all SYMB's selected in the Market Viewer. Haven't decided on that one if it's worth it, since it's just a time saver feature that can be easily worked around in the premarket workflow.

 

Edited June 9, 2020 by KyleK29

[sawtooth500 33]

Keep working on the Bookmap connector Kyle, whatever you can make it will be much appreciated!