Bookmap is a versatile trading platform offering an extensive range of tools that cater to those trading a range of asset classes, including stocks, futures and cryptocurrencies.
Key Features and Benefits:
- Live Market Data: Bookmap connects you directly to high-quality, real-time data streams from multiple exchanges.
- User-Friendly Design:The platform’s interface is easy to navigate, and customising your layout to fit your style is straightforward.
- Comprehensive Charting Tools:With an array of chart types – like candlesticks and line charts – plus lots of customisable indicators, you have the flexibility to analyse the market exactly how you want.
- Heatmaps & Volume Bubbles:These visual tools help you see the market’s underlying dynamics.
- Order Flow Insights: Bookmap’s detailed order flow analysis shows what’s happening behind the price, giving you clues about where the market might head next.
- Wide Range of Order Types:Whether you need a simple market order or something more specific like OCO, the platform supports a broad spectrum of order types.
- Strategy Testing:Before you risk real capital, you can test your strategies with Bookmap’s backtesting and simulation tools.
How Bookmap Works:
- Data Feeds: Bookmap connects to a variety of exchanges and data sources, giving you an uninterrupted flow of real-time information.
- Market Analysis:With lots of good charting options, you can scrutinise price action, recognise patterns, and fine-tune your strategy based on what the charts tell you.
- Placing Orders:You can execute your trades right from the platform, with access to advanced order types and algorithms to make sure your orders are executed efficiently.
- Strategy Refinement: Testing your trading strategies on historical data is invaluable, allowing you to see if your approach works well.
Getting Started with Bookmap:
- Create an Account: Start by signing up for Bookmap and selecting the subscription that will work best for you.
- Download the Software: Once registered, download and install Bookmap on your computer.
- Customise the Settings: Tailor the platform to your preferences, from chart layouts to alerts.
- Start Trading: After setting everything up, have a look at all Bookmap’s sophisticated features and get trading!
This overview looks at what makes Bookmap a compelling choice for traders, while also acknowledging that no platform is perfect, to help you make a well-informed choice about which platform to go with.
Bookmap’s platform distinguishes itself with its ultra-responsive charting capabilities, refreshing every 30 milliseconds – an exceptional level of precision.
To look at specific instruments, all it takes is a click of the plus (+) sign just above the chart, letting you add your preferred asset.
Visualising Market Depth with Bookmap’s Colourmap
Bookmap’s innovative colourmap illustrates an asset’s recent order book activity. By using a series of horizontal bars in different shades, it visualises the intensity of buying and selling pressure. If you’d like to personalise your setup, you can modify the colourmap’s settings, with three default colour schemes ready to choose from.
Extra Charting Tools:
- Crosshair Tool:With the crosshair, pinpointing exact price levels and times on the chart is easy and fast.
- Screenshot Tool:This lets you take snapshots of your analysis, so you can easily save and review key insights.
- Drawing Tools:Whether you’re spotting trends or marking potential entry points, Bookmap’s drawing tools (including lines, shapes, and text) allow you to annotate all your charts.
Real-Time Order Book and Volume Visualisation
- Current Order Book:Positioned just to the right of the chart, the order book offers a live, colour-coded view of the current market depth. Green bars represent buy orders, while red bars signify sell orders, though you can adjust these colours to your liking. The constant real-time updates mean you can monitor shifts in the market as they happen.
- 3D Volume Bubbles: The size of these bubbles reflects the volume of trades at specific price levels. Green bubbles highlight buying activity, while red bubbles signal selling pressure.
- Best Bid and Ask: Just below the 3D bubbles, red and green lines mark the best ask and bid prices. If you hover over these lines, you’ll get detailed information about the corresponding order – showing the exact time, quantity, and price – giving you a clearer picture of market conditions in real-time.
Seamless Trading with Bookmap’s Integrated Order Ticket
Bookmap’s order ticket, accessible via the padlock icon, lets traders place and manage trades directly from the chart.
- Fast order entry
- Click and Trade: Just click on the price level you’re interested in on the order book, and you can instantly create a buy or sell order.
- Right-Click for Sell, Left-Click for Buy: A right-click places a sell order, while a left-click initiates a buy order – making it easy to respond quickly to market moves.
- Advanced order types accommodating a range of strategies
- OCO (One-Cancels-the-Other): This feature allows you to place two linked orders, where the execution of one will automatically cancel the other.
- Bracket Orders: Place your entry order along with both a stop-loss and take-profit order at the same time.
- Trailing Stop: If the market moves in your favour, a trailing stop will automatically adjust your stop-loss.
Bookmap Pricing and Plans
Free Digital Plan
Bookmap’s free Digital plan gives you a good basis from which to explore the platform, and includes access to one-click cryptocurrency trading, tools like heatmaps, volume dots, CVD, and volume profile columns, and also helpful webinars. However, there’s only a single ticker symbol view, and data for stocks and futures is delayed.
Paid Global Plan
Traders at a more advanced level might benefit from the Global plan, which has a large range of sophisticated features including:
- Record/Replay, VWAP, POC
- 20 ticker symbols viewable simultaneously
- Real-time market data for futures and stocks (with a data plan)
- Order flow analysis webinars
- Compatibility with all available add-ons
The Global plan costs $49 per month or $120 per year.
Premium Global Plus Plan
The Global Plus plan was created for professional traders, and gives you access to the following additional features:
- Direct stock and futures trading from the platform
- LLT, Strength Level, Imbalance
- Advanced trading courses
- Live trading sessions with professional traders
It costs $99 per month or $240 per year.
Lifetime Memberships
You also have the option to purchase a lifetime membership of either paid plan. This costs $990 for a Global Lifetime or $1,900 for a Global Plus Lifetime membership.
Educational Resources
As well as tools, Bookmap also offers plenty of materials to help you learn, including the New User Webinar, which walks beginners through the basics of the platform, and the Advanced Order Flow Analysis Webinar, which is geared towards more experienced traders and includes a Q&A session.
With its variety of pricing plans and educational resources, Bookmap caters to traders of all levels, letting you choose the plan that matches your trading needs and budget.
Bookmap’s Current Order Book (COB)
Bookmap’s COB gives you a visual representation of pending buy and sell orders across various price levels. This feature provides a clearer picture of market depth, allowing you to identify potential support and resistance areas, as well as track the activity of large market players who could potentially steer price movements.
Key Features:
- Best Bid and Offer:The COB displays the highest buy price (best bid) and the lowest sell price (best offer) in real-time. This information helps you gauge liquidity and anticipate potential price shifts.
- Volume Bubbles:These bubbles, colour-coded for clarity, highlight the volume traded at specific price points. Green bubbles represent buying pressure, while red bubbles signal selling pressure. The size of each bubble shows the intensity of the trades, giving you a quick way to assess market sentiment and predict possible price direction.
Benefits of Using Bookmap’s COB:
- Identify Support and Resistance: By observing clusters of buy and sell orders, you can identify key price levels where there’s significant buying or selling pressure.
- Spot Large Market Participants: Bookmap’s COB can reveal the presence of major participants placing large orders, signalling where the market might be headed.
- Gauge Market Sentiment: Analysing the balance between green and red volume bubbles allows you to gauge whether buyers or sellers are currently in control of the market.
- Evaluate Order Execution Likelihood: Understanding the distribution of orders at various price levels helps you predict whether your trades are likely to be filled under current conditions.
These visual insights will help you better understand market dynamics and thereby make well-informed decisions about which strategies to use.
Bookmap’s Advanced Features
Bookmap offers an impressive range of advanced tools designed to improve your trading experience.
Market Analysis Tools
- Record/Replay: This allows you to capture and replay past market activity, giving you the opportunity to closely analyse previous price movements and test your trading strategies
- Nanosecond Zoom: For traders who need extra precision, the nanosecond zoom feature lets you look at market data at the highest level of detail, enabling you to react quickly to price changes.
- Unique Indicators:
- Imbalance Tracker:This tool helps you spot order book imbalances, revealing shifts in market sentiment that could hint at future price moves.
- Strength Level Indicator:By analysing transaction volumes, the strength level indicator provides insight into liquidity and key support and resistance levels.
- Large Lot Tracker:This indicator is designed to track large market players, giving you a sense of how major participants may influence price movements.
- Stops & Icebergs Tracker:Detect hidden orders like icebergs or stop orders, which can indicate manipulative behaviour or large-scale market moves.
Algorithmic Trading Integration
- API Access: You can integrate custom algorithms and indicators into the platform.
- Record/Replay Compatibility: You can also use the record/replay feature to test your algorithms on historical market data.
Broker Compatibility
- Traditional Markets: Bookmap works with major brokers like TradeStation, Interactive Brokers, and TD Ameritrade’s ThinkorSwim
- Cryptocurrency Markets: For crypto traders, Bookmap connects to key exchanges like Coinbase, Binance, and Kraken.
Educational Resources
Bookmap provides a wealth of educational content, including tutorials, webinars, and in-depth guides to help traders of all levels improve their skills.
By taking advantage of these advanced features, traders can gain a deeper understanding of market mechanics, refine their strategies, and make more confident, better-informed decisions.
- Free Digital plan
- Incredibly quick refresh times
- Ability to execute trades directly from the platform
- Connections to external brokerage accounts
- Extensive educational materials
- Forex trading supported even with the free plan
- No mobile app
- Some advanced tools are only available on the paid plans
- The top-tier subscription plan is expensive
- Not all asset classes are supported
- The selection of compatible brokers isn’t as extensive as that of some other platforms
Bookmap offers an impressive trading experience for those who are willing to dedicate time to getting to grips with its features. Its ability to visualise market depth and order flow provides a unique advantage for serious traders. However, it’s important to consider the costs and evaluate whether the platform’s benefits are what you need to help you trade better.
