How I Read Bookmap Order Flow
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TradeDay is the best futures trading prop firm check them out here • https://members.tradeday.com/membersh... • In todays video I go more in depth on how I read bookmap orderflow, talking about the different indicators I watch with different examples provided throughout the video. • It feels like the current trend in the trading space is all about big profits and copying trades across multiple accounts, with people getting funded in just 1 or 2 days. There aren't enough traders showing how to succeed with just 1 micro contract! • I'm doing an Evaluation to Funded series with TradeDay, a futures trading prop firm that I believe is the best. I'm doing a small account challenge using TradeDay's $10k account, with a profit target of $1,000. I'll be completing this evaluation using only 1 Nasdaq Micro contract! • Once I complete the evaluation and move to a Funded Sim account, I'll start another series called Funded Sim to Funded Live. TradeDay transitions you to a Funded Live account once you reach $5,000 in profits during the Funded Sim phase. • Since you took the time to read all this, here's a secret a lot of people don't talk about with TradeDay. • TradeDay’s $10k account costs $80, and a lot of people don’t know that they have a Learn and Earn program, which is free. You can earn reward points to cover the cost of your activation fee and or up to two resets! • If you're interested in following my journey or learning more about futures trading with TradeDay, be sure to subscribe! Thank you! • 0:00 - Introduction • 0:07 - Introduction to Day Trading Strategy • 0:32 - What Are Iceberg Orders? • 1:09 - Who Uses Iceberg Orders and Why • 1:40 - Importance of Iceberg Orders for Traders • 2:00 - Key Takeaways on Iceberg Orders • 2:22 - Sell Iceberg Example • 3:12 - Buy Iceberg Example • 4:51 - What Is Absorption? • 5:29 - Why Traders Should Care About Absorption • 6:05 - Absorption Example • 7:25 - What Is the Sweep Indicator? • 7:54 - Importance of Sweeps for Traders • 8:26 - Sweep Example • 10:21 - What Is the Point of Control? • 10:47 - Importance of the Point of Control • 11:17 - Point of Control Example • 11:51 - Wrapping Up • #futurestrading #daytrader #priceaction #fundedtrader #daytrading #daytraders #propfirm #tradingstrategies #priceactiontrading #priceactiontrader #tradeday
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