Thank you for reading today’s review all about Bookmap. So what exactly is Bookmap? Bookmap is a volume type visualization trading indicator. It’s also a stand-alone trading platform of sorts. The website can be found at Bookmap.com. They are also known as Veloxpro.com. The software is delivered in various subscriptions ranging from $147.00 billed quarterly for just the basic blah version. The super-duper version is $297. 00 quarterly. the software is delivered through different retail platforms and brokerage.
A review at Archive.org reveals that the company began in 2013 pushing really hard using aggressive marketing tactics. During this time various other ‘indicator hustlers’ also provided similar useless software. It appears that 2013 was the start of the breakout for this latest and greatest type of indicator. The fad spread throughout the retail trading community and without success I must add.
Bookmap maintains a nicely promoted YouTube page. The YouTube page serves as the main marketing for the show and demonstration hub for the software. In total, there are 132 videos and 818 subscribers.
During the month of October 2016, tradingschools.pro spent nearly 40 hours observing the software on different markets. Emini SP 500 futures, Crude Oil futures, and US Treasury Bonds futures were all demonstrated. All three of these products are pretty popular with traders and the retail trading community.
What really is this Bookmap all about?
What Bookmap tries to be is a visual representation of the full trading DOM, divided over a specific time period. The idea is for traders viewing a trading chart and visualizing price, time and measurable movement. However, Bookmap takes on additional data fields which are free for everyone since the dawn of electronic trading and includes this data into a sort of ‘electronic extra’. Where a whole lot of additional ingredients, skip the salsa, are crammed inside of the tortilla shell.
Are more ingredients better? Do they make the taco tastier? Does this create value or just more confusing when trading. Is it beneficial to include a hot dog and pickles inside of taco? What am i talking about, prison food? Is mucho-more better? These were questions I, Emmert Moose wanted to answer.
In the past, tradingschools.pro has reviewed many trading educators offering nearly the same if not an identical type of trading type indicators. I don’t trust this guy Emmert one bit. He looks like a weasel, and dirty one at that, oh sorry, that’s me. Most of these reviews of been flat out bad. and not friendly to these guys. The main reason for the bad reviews was because tradingschools.pro has not able to find a trading educator to prove the concept of order flow style indicators. If you look at the ads they push, i would suggest they are pushing affiliate sales promoting one vendor over the other, but hey what do i know? In short, i can’t find profits, and thus I can find no person that can verify actual trading profits.
Are success and trading profits the only way to prove these types of indicators actually work?
Obviously, the best way to prove this concept is to ask for it. Unfortunately,I have yet to find anyone to prove this order flow trading indicator stuff works. Does this mean that we should simply run away, and toss these ideas aside? Nope, in fact, most of the today’s modern trading platforms come with some type of ability to back-test these trading ideas.
Whenever a new car is designed, in today’s modern world, the automobile is analyzed through a series of simulators that present natural road challenges to the automobile. Or when Ford builds a new truck, before the wheels are even inflated the various simulators have been thought out. Or when a new robot is developed, the robotic company will run the tests through different profiles to capture any potential issues before it’s let loose, and this my friends is how science works.
Scientists start with the simple but effective Null Hypothesis, the theory that something does not exist unless it can be proven without a doubt, statistically or otherwise. This is how www.tradingschools.pro attempts to tackle theses challenges when evaluating any trading educator, trading system, and trading indicators. I start with the analysis that everything I see is flat out false unless I see the proof to show me otherwise, to be frank.
The dreaded call, contacting the Bookmap developers
The first step in our discovery process was to reach out to the so-called Velox Pro aka “Bookmap” guys and simply ask if anyone at the company has been able to show the software made actual profits during live trading. Unfortunately, I received nothing in response, and nobody at Bookmap was willing to with any sort of real actual trading results to base my review on.
“Watch the YouTube videos” was what they insisted. The developers recommended that watching these YouTube videos repeatedly, the ideas and concepts would start to make sense. So essentially if you watch it long enough it will make sense. At some point, this information would change into profit. My response was, are you kidding me? Would you drive a car that the developer would not drive?
In spite of this, I held out hope that this type of information would work from just watching real markets and studying the various YouTube videos.
After several days and weeks observing the software in real time under a real market condition, I came to the conclusion that everything was so highly subjective that every opinion to buy or sell was muddled with meaningless confirmation overload.
The problem with meaningless confirmation overload
What exactly is confirmation bias and illusory correlation, and how does it fit into real trading? Try looking at a price chart while adding a moving average? Isn’t it amazing how sometimes the price will virtually bounce off of the moving average? Incredibly, isn’t it! Can you believe that a market is going to ‘bounce’ off a moving average so perfectly? But, when back-tested using larger data sets, the ‘bounce’ that the moving average provided simply disappears and is wrong. It was an illusion all traders know. Your mind was seeking a pattern, and the human mind is wonderful making things up that don’t exist. These patterns have no statistical validity. “Last night was a full moon, and today a bird pooped on my balled head, therefore the full moon foretold the bird poop on Emmert Moose head.”
This is plain wrong, and faulty logic. The foundation in which the Bookmap order flow is built upon is meaningless. The ideas presented by these developers are worthless, including the YouTube videos that claim that “Iceberg Orders, Black Box Algos, Volume Absorption, Volume Imbalance, Aggressive Volume, Passive Volume, Institutional Volume, etc. are reasons why the bird pooped on my bald head, and why the price moved the way it did. Higher, lower, reversed, or bounced, or choppy. There is always a bridge to sell, and an avenue that lets the mind wander. Pure and simple illusion and make-believe assertions that frankly don’t work.
I tested, and tested, and tested
Unless you can prove it works, believe nobody in this trading indicator world. We can test theories and ideas until we are blue in the face, but before risking real money account confirms the test works. With Bookmap I was more than willing to learn their trading ideas and test them on real data. Unfortunately, even the guys at Bookmap have couldn’t figure it out and had no idea what could and could not be defined and tested. Instead, they said to use it as a guide, and “a visual tool” for trading confirmation.
In addition, I find with this type of order flow volume visualization tool like Bookmap, 99% is useless banter. It’s nothing but visual noise. At any moment, massive amounts of buy and sell orders can enter into the market. Players involved in the trading game have no real intention of executing said orders. These massive unfulfilled order flows are meant to be smoke and mirrors, creating the illusion of movement by the big boys. So are the “the big players, like banks, hedge funds, or government FOMC doing the following nefarious activities? Who knows what is real without proof and the dangling carrot stick effect comes into play. Order flow indicators are nothing more than hustlers and I should know, I was one. Remember I went to jail for defrauding many people. These type of indicator hustlers try to convince you that the real deal is finally here, but as you can see, just like I did no proof, no pudding.
Words of advice – don’t be fooled with Bookmap order shmo! Ask for a definition of their idea, and then try it and test it with live market conditions. The following 30-second clip really made me laugh, and it personifies the problem with order flow indicators, how do you define and test such nebulous concepts?
My own opinion is worthless, remember I went to jail, but read on…
My opinion on Bookmap if you haven’t already guessed, I’m not a fan of this mojo “Order Flow.” Let’s be clear about my opinion. First, it’s not based on my bias of order flow or my natural criticism of these type of indicators. My opinion is based on evidence, and testing these ideas during live and actual data. Just like the engineer developing the new automobile, or the robotic company testing the new robot, or the loan officer checking employment prior to signing off on the home loan. Verification is always a must.
The order flow indicator Marketbook is hawking is has no statistical evidence that it actually works. That my friends is the bottom line. And refuse to place any trade, or single bet unless I know this taco has been tested and proven live, and it hasn’t even come close.
The opinion of others…
tradingschools.pro receives a ton of email from buyers offering similar stories on these types of trading order flow products. Some of the opinions are funny and sad at the same time. One trader following tradingschools.pro for some time now wrote the following message:
“After using the software for 2.5 months, my losses began to increase, and I realized why there is a 3 month minimum subscription.
The indicators reminded me of a carnival ride, full of confusing lights and sounds. The first week didn’t go so bad, then it got worse and worse as the sparkle wore off. I should have known better.“
The best and the saddest message came from a user that described the software akin to Tasseography. Of course, I had no idea what Tasseography meant, and so I googled it only to find out about interpreting coffee grounds and tea leaves. I think my mom used to do that to trick the neighbors. The apple doesn’t fall far from the tree is still true. A practice still very much in vogue.
Time to Wrap it up, the skinny on Bookmap crap
Thanks for reading today’s review on Bookmap and I apologize if I offended some of you out there loving the order flow confusion. My readers enjoy these trading tools but finding ones that work has yet to occur. In my opinion, order flow is just a fad that will eventually go out of style. They are already offered as free products that are worthless on many standard trading platforms just like the so-called pie in the sky technical indicators (stochastics, MACD, Fibonacci, and Bands).
Keep the comments rolling, don’t be shy. Remember boys and girls, your uncle Emmert went to jail, so my opinion matters!