Norberto Viale
Do you need an Order Map to take your trading to the next level?
Bookmap is perhaps one of the most comprehensive tools available for order mapping . Despite being only a few years old, this platform has gained widespread recognition within the trading community.
Bookmap doesn't offer anything fundamentally different from other tools I've mentioned on this site (e.g., Jigsaw Trading ), but it does so in greater detail. With Bookmap, you can take your analysis down to the nanosecond level , allowing you to trade on micro-structures and thus precisely adjust your entries and exits (I'm not saying it's the best or most effective way to trade, just that you can do it).
The goal of Bookmap is to easily visualize market orders and liquidity (limit orders) in order to identify the intentions of other market participants, including the big players.
It's a visualization tool that refreshes data in 30ms increments, which is well-suited to the trading style of day traders, algorithmic traders, and scalpers. Its functionality is based on aspects such as:
- Charts. Bookmap has different types of charts that allow the visualization of order flow data with approximations ranging from days to milliseconds or even nanoseconds.
- Heatmaps. This is the key feature of this software because it reveals, more accurately than many other similar tools, where liquidity is located and therefore how to read market dynamics.
- Repeat mode . A practical way to test your strategies is by using this function. This makes it easy to record trades in real time for later review in more detail.
- Volume Bubbles. This is an in-depth view of the volume bars that shows you the magnitude of the buying/selling volume at any given time.
- Other special features. In addition to the above, Bookmap offers BLOB, CLOB, and DOM visualization with various indicators for a more accurate perspective on price action. This is accompanied by an API that can be integrated with algorithmic strategies.
This tool is more complex than similar ones. Therefore, I believe a certain level of knowledge is necessary to fully appreciate its potential. If you're considering adding Bookmap to your trading, be aware that the learning curve isn't the easiest.
After-sales service
This trading platform is well-known for its support, which you can find on its blog, forum, and even its FAQ page. In addition, you can always contact them via email or phone to resolve any questions you may have.
BookMap Pricing
Traders who want to take advantage of Bookmap's benefits have 3 packages available:
- The Digital Packageis a free version you can get after registering. It includes market data from Bitfinex, OKCain, BitMEX, GDAX, and Okex. In addition to its standard features, you can use the record and replay functions for an extra $20 USD per month.
- Global Package. This option costs $39 per month and includes real-time information for cryptocurrencies, futures, and stocks. If you require the full depth of the EDGX book, the monthly price increases to $59. This package allows you to use the record and replay with 20 tabs. You receive a 20% discount when you choose the annual prepaid plan, and a lifetime membership costs $900.
- Global+ Package. An alternative that includes all the advantages of the previous package plus other sophisticated pattern and flow recognition features: Iceberg, Imbalance, LTT, among others. The monthly fee is $79, the annual plan offers a 20% discount, and the unlimited subscription costs $1990.
Trial version
As we've seen, there's a trial version you can use without time restrictions. The catch is that you can only use its features with the cryptocurrency market. Even so, it's a good way for less experienced users to get a better understanding of what this sophisticated program has to offer.
Conclusion:
Bookmap is a highly sought-after platform among professionals, standing out for its detailed order flow visualization and support. If you enjoy scalping, this is definitely an option you should consider.
Which is the BEST STOCK BROKER?
GUIDE TO CHOOSING A SAFE BROKER TO INVEST IN STOCKS AND ETFs
BEST FOREX BROKERS: YOUR REGULATED TRADING
Can you do a replay on Sunday? For how many days?
Hi Ivan,
The truth is, I don't know. I'll try to find out by asking other colleagues who use the software.
Greetings
Hi. What's the difference between Bookmap and Jigsaw? Which one do you recommend?
Hello Nathaniel,
The main difference lies in the tools associated with each company. Bookmap is specifically an order map, while Jigsaw aims to integrate an order map, the DOM, and the Ribbon into a single tool. I use Jigsaw and like it a lot, but those who understand Bookmap's order map algorithm consider it superior.
Both tools are excellent, and it's difficult for me to recommend one over the other; it all depends on your intended use. If you're only interested in an order map, Bookmap might be what you need. On the other hand, if you prefer tracking trades using the DOM and the Jigsaw ribbon, then Jigsaw has what you're looking for. I hope my comment is helpful.
Greetings