Guide to Bookmap: Feel Market Movements in Real-Time

Trading isn’t easy. Luckily there are hundreds of tools out there to help understand what’s going on in the markets. These tools are often based on price charts and a few well-known indicators that most traders use.

One trading platform that stands out is Bookmap. Bookmap is a market depth visualization software and fast trading platform that allows traders to view market movements in real-time with full transparency.

Understanding Bookmap

Bookmap may feel overwhelming at first glance but the interface is intuitive to use once you get to grips with it. To simplify things, let’s start by deconstructing its name. Bookmap’s name is a play on words, coming from OrderBOOK and HeatMAP. These are the two main functionalities of the software, which was initially released in 2014.

Its heatmap functionality shows traders the dynamics of the order book, and every change occurring within it. While looking at the heatmap may be overwhelming at first – especially if you use warm colors like yellow, orange and red to identify support and resistance levels – the software allows you to customize it to your needs.

The heatmap gives traders insights into how the entire order book and trading volume look in real-time, as well as their past positions. Another unique feature of the platform are volume dots. Larger dots represent a larger trading volume, while smaller dots represent smaller volumes. The platform’s charts are updated 40 times per second, giving users the feeling of watching a high definition video.

Bookmap also offers users a replay mode where users can record trading sessions in real-time so they can later analyze their strategies, the development of order books, and more to improve their trading strategies.

 One premium feature offered is the Iceberg detector and large lot tracker (LLT), which essentially help users identify the largest limit orders to “fish out” the whales currently trading on the market.These features help traders identify obvious patterns from other traders – including high-frequency traders – and act based on what they learn. For crypto traders they will work on CME’s BTC futures.

So that users don’t lose time switching from charts to trading applications, it’s also possible to trade within the chart on the highest subscription levels, although in crypto users can trade from the chart with the free Digital version, or with Digital Plus. Bookmap supports all popular order types, including OCO-orders.

Zoom in on the action

Bookmap also lets users zoom in on the action. Traders can look at hourly charts, see the action unfold by zooming into millisecond and even nanosecond time ranges, and get real-time large trade alerts. It’s even possible to configure how large trades have to be to trigger an alert.

With this plethora of features, Bookmap is a platform designed for day traders, swing traders algo-traders, scalpers, and other professionals. As there is a free subscription available to trade cryptocurrencies – using data from Binance, Bitfinex, and various other cryptocurrency exchanges – retail traders can also give it a try.

Technical depth of market indicators and other technical signals use aggregated data to display the market, which produces lag regarding the market action. Bookmap displays “raw” non-aggregated market data in real-time and renders it in a way that’s easy for users to understand.

Start Using Bookmap

To get started with Bookmap users need to head on over to its website and download the software. A free Digital Package is available to trade cryptoassets, but other subscriptions can go up to $99 per month. The most expensive subscription, Global Plus, allows users to trade cryptocurrencies, stocks, and futures, with 20 simultaneous tabs, record and replay, LTT, Iceberg, and other premium features.

Those who choose to pay yearly can enjoy a 20% discount on their subscription fee. It’s worth pointing out that on top of the subscription fee, traders will also have to pay a data provider when trading in stocks and futures - crypto users do not have to deal with the added cost. Those with a long-term plan can pay for a Lifetime subscription, which will cost $1,990 for Global Plus.

CryptoCompare users can get a 25% discount on subscription to Digital+ using the code CCWEB0920. You can try the platform now for free by visiting Bookmap.com.

This website is only provided for your general information and is not intended to be relied upon by you in making any investment decisions. You should always combine multiple sources of information and analysis before making an investment and seek independent expert financial advice.

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