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Bookmap Review – Scam Order Flow Analytics Tool?

Bookmap Review – Scam Order Flow Analytics Tool?

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Fun and idiocracy never stops in the world of trading. What exactly is Bookmap? Another volume visualization trading indicator? Probably yes. It is also a stand-alone trading platform.

Bookmap is available on two websites called Bookmap.com and Veloxpro.com. To ‘enjoy’ Bookmap, you’d need to choose between the two subscription models which cost $147, billed on a quarterly basis or $297 for the ”advanced” version.

To sell it to the masses, Bookmap is delivered through various trading platforms and brokerage firms. What surprises us is that this software was created by people who have no trading record in any shape or form.

Bookmap Review

The only thing we agree with here is that this software is very stable because it is well-designed to do its job perfectly. What is the job here? Well, the job is to display volumes in a graphical manner.

The problem is that this information which is presented to the end user is of no use. The information is highly ambiguous. No one has successfully worked with this information to make profits from any trading market.

You see, the owners of Bookmap are very clever. They use vague terms such as ”one must feel the rhythm of the market, one must feel what the market is saying or one must let the information which they are seeing in the graph permeate into their inner spirit.”

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That is why we said initially that this is total idiocracy. And true to our word, our investigations reveal that the company or developer behind Bookmap has never had a success track record.

A background check reveals that this developer first got into aggressive marketing some times in 2013. At this time, there were also several other similar indicators that were being peddled by investment hustlers on the internet.

This was a breakout year for this fad to gain ground in the entire trading community.

The company is popular on YouTube because probably these investment hustlers figured out that YouTube worked best as a marketing hub where they could demonstrate their nonsense in video format.

Bookmap YouTube page

There are 132 videos in total. We have observed a few of them to determine how Bookmap was performing on a number of stocks and other trading instruments.

So, what exactly do you get with Bookmap?

When you view a chart, you are actually visualizing the time frame, the price and other measurable movements. However, if you want to work with additional data, you can use Bookmap to introduce separate fields for this information.

about Bookmap

 

It sort of create additional ingredients on your chart to allegedly make your work easier. The question is, does more ingredients make the trading environment tastier? Is it better to trade with Bookmap than to just deal with the chart as is?

These are the big questions which we sought answers to. They are the backbone of this Bookmap review.

Our fears stem from the several failed trading indicators that we have reviewed before. These indicators are mostly produced by so-called trading educators who do not have a track record of success. None of them has ever come out in the open to prove their concept using these indicators.

The point is, we should be concerned with profits as opposed to empty talk or fancy names like order flow analytics, you name it.

Why do we criticize this tool from the word go?

You see, profits matter a lot. The only way to prove that a system is capable is by testing it to see if it can bring profits into our pockets.

Bookmap review

It’s like an aircraft. Can you say that an aircraft is able to fly if it has never been flown before? No way.

In short, this order flow nonsense has never proved profitable. Not a single trading educator has been able to prove that it works.

Here, we work with null hypothesis.Basically, this is the assumption that something does not exist unless the creator(s) is able to prove its existence with a population of data. We are actually talking of statistical proof, not just claims.

This is the basis for all our reviews that have concerned both genuine and fake trading systems. So far, our assumption is that this tool does not work.

Contacting the owners of Bookmap to get us some answers

Most trading educators hate the idea of being approached for proof of profit. But we do it for the sake of our readers anyway?

This is the reason we approached Velox Pro Bookmap , the developer of this trading indicator to explain to us whether there was proof that someone had converted this tool to actual profits.

As always, no one was willing to step forward with proof that would have been used to verify that indeed this thing works.

Sadly enough, these developers just advised us to watch their several YouTube videos repeatedly and that if we followed these instructions, the idea would slowly begin to manifest in our heads. Sounds kinda funny.

The point is, would you go to a restaurant, then eat food that was prepared by a chef who refused to eat his own food?

Well, we finally agreed and that is why we watched a couple of those YouTube videos to see if the truth would finally be revealed.

This went on for several weeks. However, we observed that this software’s performance was highly subjective. Every opinion was countered by another bias opinion on the same.

So, what exactly is this bias or so-called confirmation bias that we are talking about here?

Well, let’s pose this question to you. Have you ever stared at a 1 hour time frame chat and saw that price was bouncing off nicely on a moving average. Then when you view this data on a higher time frame, such as the 4 hour time frame, this formation simply disappears?

You see, the human mind is too good at imagining things. If you spotted a full moon today and then the next day a hurricane swept across the city, it would almost look like this full moon was a sign that a hurricane was about to blow across the city. The question is, how many full moons have we witnessed without a hurricane following in the aftermath of that particular manifestation?

Now, sadly enough, that is the logic behind all order flow analytics tools like Bookmap. There is no statistical validation to help confirm what these trading educators sell as pure fact.

These scam trading educators love to use fancy words such as iceberg orders, volume absorption, blackbox algos, passive volumes and such like phrases. But they have nothing to show for their boasting. This is exactly the same thing that happens when you watch the YouTube videos which promote Bookmap trading indicator.

Our best advice for you

We still maintain our stand. Bookmap trading indicator is a false tool which you should never spend money on. There is no way we can assume that this tool is profitable when there is no evidence that traders have used it to make money.

It’s a pathetic tool that is touted by people who failed in trading before resorting to teaching their nonsense on the internet.

As always, we are requesting our readers to stick with these trading products. And if you want to trade stocks, read this Tradenet Review first.

 

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