Bookmap is essentially a platform that gives the trader an x-ray into the stock market. Many traders are buzzing about Bookmap and its market data analysis and research. So, is Bookmap what you have been waiting for? Read to discover.
Introduction to Bookmap
Bookmap is a market data analysis and research platform that provides insights and a unique perspective on tracking price action in real-time. It operates like an x-ray of the market action providing a forensic lens into dynamic price and volume relationship to liquidity to track market footprints. The data refreshes in 30-millisecond increments and enables users to zoom into microsecond increments. Bookmap was created by high frequency traders wanting to visualize the price action data. The objective is to ultimately improve trading decisions through data analysis. Bookmap visualizes the behavior of participants. Transparency is derived by discovering the intent of the participants through order flow analysis.
Bookmap Pricing Options
Bookmap offers three packages for users with monthly, yearly (20-percent discount) and lifetime pricing options:
The Digital Package is free with registration and provides access to Crytocurrencies data including real-time market data from GDAX, BitMEX, Bitfinex, OKCaoin and Okex with trading features and one-tab. Record and Replay functions are available for an additional $20-per month.
The Global Package is $49-per month and includes real-time data for Futures, Stocks and Cryptos. Full depth of the EDGX book starts at $59-per month. This package includes Record and Replay functionality with 20-tabs. A 20-percent discount applies for prepaid Annual plan and the Lifetime plan is $900.
The Global+ Package is $99-per month and includes everything from the regular Global Package with the addition of sophisticated flow and pattern functions like LTT, Iceberg, Imbalance and many more. The annual plan has a 20-percent discount and the lifetime plan is $1,990.
Bookmap Features Breakdown
Here’s some of the notable features and indicators on the platform.
Bookmap enables various types of charts including candlestick, bar and line with scalable time frames from days down to milliseconds and zoomable to nanoseconds. Order flow data and volume is visualized on the charts, thereby making it a key staple with the software. At first glance, they can very overwhelming, so it really helps to start with a basic candlestick chart and then add one indicator at a time to witness the capabilities of the software.
The indicators on Bookmap are designed for interpreting order book and flow data and thus doesn’t focus on the many traditional indicators typically found on other trading platforms like Bollinger Bands or RSI. Rather, they incorporate proprietary Heatmaps, Bid/Ask volume bubbles and spread lines. For Global Package Plus subscribers, additional indicators/functions like large lot tracker (LLT), icebergs and imbalance trackers are available. For $59-per month Global Package members have access to EDGX book.
The heatmaps indicate the thickness of liquidity at different price levels. The darker the shade indicates heavy liquidity and vice versa as the share gets lighter, the liquidity gets thinner. Since liquidity is dynamic, the shades will lighten up as a price level clears and vice versa. This enables users to watch how liquidity lives and breathes with the price action. Fund managers know that liquidity overrides price as it can be a tell when interpreting market action but a restraint when trying to unload large sizes in a thin market. Users can configure to show just buy or sell orders on the heatmap.
Taking the concept of volume bars to a much deeper level, volume bubbles illustrates the magnitude of buying volume at the inside asks or selling volume at the inside bids for each period. Users can witness when buyers overwhelm sellers with large green volume bubble accompanying each candle. Users can zoom into the bubble to see the actual buy and sell trades and the progression of the bubble along with states on buying vs. selling. Market orders are used to construct the bubbles since they are the best indication of motived buying or selling. Users can zoom down to single trades and millisecond time frames.
Bookmap Premium Features
The LLT enables you to spot the largest limit orders hidden with the order books. Icebergs are orders that only transmit a fraction of the actual trade order. Spoofing and sweeps can be spotted easier as well as specific trading algorithm (algo) patterns like the Ignition, which is commonly used by high-frequency-trading (HFT) programs to spike or drop stock to suck in other algos and traders. Like starting an engine, ignition also stir up price volatility with a combination of sweep sand spoofs.
This is where everything comes together. Watch lists can be created and maintained with alerts, indicators and drawings on the charts. I like to keep multiple watch lists based on swing candidates, sectors/themes and current (today’s) candidates. Chartmill provides pre-built watch lists updated daily so users can check out the strongest breakouts/breakdowns and various patterns from the get-go.
LOB, CLOB, DOM
Bookmap visualizes the order limit order book (LOB), centralized limit order book (CLOB) and depth of market (DOM) data and EDGX. The perspective using the various indicators is refined to give the equivalent of an x-ray view of the price action.
With all the pieces of data available, it’s hard to analyze more than a single instrument in real-time. Bookmap enables the Repeat Mode to record and playback the action down to milliseconds to analyze or export. This is most helpful for quants and algorithm developers to help create back-test, authenticate and validate models.
Bookmap provides their API to integrate with proprietary, high-low latency and/or algorithmic trading strategies. Execution and trade management triggers can be automated for experienced programmers.
Bookmap can be connected to various brokers to enable trading directly off the platform. It also provides a simulator that users can make demo trades on to improve the utilization of the data.
Bookmap is a very precise tool like a scalpel that focuses on purely visualizing order flow and liquidity. How that data is utilized relies on the user. The platform is unique in function than typical trading platforms with conventional charts and level 2 windows. It also takes some time to get acclimated to understanding the visuals and interpreting the action. There is a learning curve involved that may also be more complicated that what traders are used to.
Is Bookmap a Good Value?
Bookmap is a great value for users that can utilize the data efficiently. There is tons of data down to milliseconds, which an normal human couldn’t or wouldn’t want to analyze. Those who are proficient in data analytics and algorithmic traders will find this robust source of information a very good value.
What Type of Trader Bookmap Is Best For
Bookmap is ideally suited for day traders and quants looking for tons of data to create, back test and refine trading models. Intra-day scalpers will also find the real-time data useful especially when spoofing activity occurs to artificially inflate or deflate prices. The platform provides a wealth of information that will benefit technical traders who know how to properly analyze order flow and price trends. Traders need to be able to react to optimize the tools. Retail investors, newbies and swing traders will likely be better suited with traditional trading platforms.
- Provides an x-ray lens into the order flow, intent and liquidity behind price moves
- Millisecond trading data enables users to gauge the large to molecular level picture
- Record and replay enable users to review price action they missed in depth
- Stocks, futures and cryptocurrencies can be tracked and traded
- Powerful APIs enable integration of algorithmic trading
- Spot spoofing, large lots and algo patterns as they occur
- Free demo trading simulator and Digital package is free for registering
- May be too much information for swing traders and investors
- Like level 2, bid/ask information can be noisy