The video explains how to use Bookmap to identify high probability trades. The speaker explains the two ways to access Bookmap and the different features on the platform, including the heatmap which shows limit orders waiting to be filled in the market, and the circles which represent aggressive buyers and sellers. The speaker advises only using Bookmap to validate key areas of interest and not to solely rely on it for trading decisions. The video concludes with a reminder to subscribe and like the video.
Sure, here are the key facts extracted from the provided text:
1. The video is about using Bookmap to identify high probability trades.
2. There are two ways to get Bookmap: buying the app or getting it for free through Thinkorswim by contacting customer service.
3. Bookmap allows users to view limit orders in the market, with shaded areas representing buy and sell orders.
4. Different colors indicate different order types, with red and dark red representing the most orders.
5. Circles on the map represent aggressive buyers and sellers, and their size can indicate transaction activity.
6. The user advises using Bookmap primarily when approaching key trading areas to validate trade ideas.
7. The user gives an example of how they used Bookmap to confirm a trade on QQQ.
8. They emphasize that Bookmap is used in conjunction with their areas of interest to make trading decisions.
Please note that these are factual statements extracted from the text without opinions.