Bookmap’s Live Market Commentary: Like Being Neo in The Matrix

This interview is based on a Discord chat with Osterman. Conducted by Owain Higham.

I would love it if you could tell me how long you’ve been trading and how you discovered Bookmap.

I’ve been trading for 3 years. Around 6 months ago, I joined a trading room where people traded futures and SPY and used Bookmap. I got curious, bought a month and was instantly hooked. I knew right away it was a game changer. 

I use Bookmap mostly to find entries and exits by leveraging stops & iceberg information as well as volume profile. 

The platform is fantastic, but the team is even better. Tom B and Bruce have changed my game. Bookmap and their commentary is like being Neo in The Matrix.

Can you tell me what was that lightbulb moment that made you realise it was a game changer?

It helped me to understand that it’s just a big game. You can’t predict; you must react to the big players’ moves… And Bookmap helps you see these: icebergs, bid/ask lifting, spoofing, stop-picking, exhaustion, etc.

In particular, seeing the influence stop-picking has on price dynamics was pivotal.

As I understand it, you use Bookmap to fine-tune entries and exits. Are you exclusively a day trader or do you use Bookmap to work yourself into swing trades?

I use Bookmap to day trade, and I only trade ES. I also have a long-term portfolio but I treat that one differently.

What advice would you give to newer traders just starting out?

1. Paper trade, then slowly scale up as you find consistency. Rule # 1 is to stay alive to trade another day. 

2. Never place a trade without first planning your stop, entry and target. 

3. Journal everything: setups, statistics, mistakes and feelings/state of mind. 

4. Too many indicators will blind you. Keep it simple. 

5. Keep your body and mind healthy. Exercise, meditate, etc. 

6. Screen time is the best way to learn market dynamics. 

7. Pretend a professional trader is watching you. Seriously, it is a great trick.

What are your personal, bigger-picture goals in relation to trading?

I just want to have peace of mind. I don’t want to be worried about my finances. I want to give back to my family: my parents have given me everything, I want them to have that same peace of mind (my dad is 65 and is still working!). I want them to fully enjoy their remaining years. 

I have a fantastic job in tech, but eventually I want to retire and be able to have 100% freedom over my time. Time is the most precious asset we have. I don’t want to be lying on my deathbed thinking: Where did my life go?