The broadcast is now starting. All attendees are in listen-only mode. All right. Good morning, everybody. Welcome to the Bookmap ProTrader webinar series here, December 9th through the 13th. All week long, we're going to have professional traders. You guys have received the email, I imagine, and who's presenting all week here. We have a great lineup of traders the entire week here. So today we have Bennett Stein. Bennett has been trading multiple markets over six years, and he's been exclusively looking at crypto here for three years. So this is a crypto trader here in Bookmap. And it's going to be a great webinar here because we haven't really covered a lot of the crypto markets in Bookmap. So I'm really excited to have Bennett here. You know, he's, as it says here, he's fascinated with the psychology of the masses, how it applies to the market. He has a lot of great videos on his YouTube channel, and I'm going to give you a link to that in just a minute. The Bitcoin Trading Challenge and maintains a focus on alternative strategies traders can profit from with various cryptocurrencies. And he has just recently created an order flow training course exclusively for Bitcoin futures in Bookmap. And he's going to go through some examples of that as well. So here's some information about Bookmap, Bookmap.com, our Twitter handle and our email support at Bookmap.com. I need to go through the risk disclaimer here. Trading futures, equities and digital currencies involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. And then here's Bennett's contact information, his Twitter, his YouTube channel. You have his website here, or I'm sorry, his email, his website, as well as his Bookmap affiliate link here. And we'll show this at the end here, the affiliate link for the special deals you can get through Bennett here that aren't available on the Bookmap.com website since he is a Bookmap affiliate. So anyway, let's just kick it off here and let me give the presentation over to Bennett. Well, thank you for having me. There you go. All right. All right. So you guys can all see my screen now. Yeah. Can everyone see the screen and audio is good too? Yeah. Yeah. All right. Well, thank you guys and welcome to order flow. So what I wanted to start you guys off with is right now we are looking at what Bitcoin did Eastern time from 8am to 9.45am. Now I pulled up this specific order flow because something pretty big just happened. Price either went a lot up or a lot down. Now what I want to ask you guys is just looking at this, of what you know of order flow, what do you think happened? And Bruce, you can cut in as well to tell me really what kind of order flow do you see? And then after you guys discern whether this was bullish or bearish, I'm going to show you guys what actually happened. All right. Yeah. Anyone following it this morning? Don't look up the answer yet. You say a fake out. A fake out.  Let's see. Jeff says bull fake out here. Bull fake out. So Jeff's saying that trapping buyers, is that correct? Let's see, stop loss or stop hunt, and yeah, a lot of stop hunt, flip of the book here. This is interesting. As well. Okay. So let me just slowly reveal some things that were going on here. And as I slowly reveal them, it's going to become a little bit more clear of what actually happened to price. So again, this is probably your last chance to discern whether price went up or down. Speak now or forever, hold your base. So what we have here, first of all, is an imbalance. What we see here is volume plus 20%. What that means is that there's been more market buying within this chart here, then there's been market selling. Now what we see is what I like to categorize price moves up and price moves down are demand runs and supply runs. So here when price is only going up, that's called a demand run. When price is only going down, that's called a supply run. Now in order flow, what I like to look at is the amount of aggression the buyers have been using during demand runs and the amount of aggression the sellers have been using during supply runs. Now what we see here is that the buyers are dominating over the sellers. We can see there's just significant more buying interest than selling interest. So that's the first half of the equation of what we're looking at to discern, you know, is price going to skyrocket up or skyrocket down. And then stop loss on to then move down. Now what we also saw happen is let's look at these order book walls. We see this wall has been present for quite some time and it gets partially filled here, placed a little bit lower and it's beginning to get some pressure here. Typically in Bitcoin, in Bitcoin order flow, when you see constant pressure on order book walls, what that typically leads to is a price move that goes beyond that order book wall. Now what we also see are any kind of large spoof orders or short term limit orders got pulled. This guy got pulled and this guy got pulled. Now I'm going to reveal to you guys what had actually happened. It may blow your mind, it may not, but here's what happened. As it loads price went crazy. A lot just happened on Bitcoin, but yeah, it may seem like I'm actually even pulling up a different chart. This was so much. Look, anyone who had said stop loss was partially right, but really this was bullish momentum. What had happened is we see all these stagnant order walls here. Now what that means is that these order walls were here for quite some time. They're not new supply. They're quite old supply and this market buying actually overtook these offers here. We get a price move that goes a lot, lot higher. Now price actually began to drop when we saw this fresh supply added here. Let me saw some market sellers coming in. Now what we see is I'm going to show you guys another screen just to test you guys for the second time. When you see this, does this look more bullish or more bearish? Do you think that A, price rose, B, price fell, or C, price stayed around the same in this range? What do you think, Bruce? I guess you're still pondering, but what I saw was- Sorry, I was muted there. Well, anyway, go ahead. I don't want to interrupt you. We saw something very similar on Friday, but yeah, the move right up and the move right back down, and then yeah, basically looking for it to balance likely somewhere here in the middle, but it's definitely not bullish. They were down below that area where it broke out from. So the spires can feel the pressure if the sellers can ramp it up, but anyway. I would agree with you, and ranging is just about what price had done for a little bit of time. We see price does go down on this heavy supply, but price does go a little bit. Or actually yeah, price went a little bit higher here, back into the range, and then price fell. So really this heavy supply is really taking effect, as you can see here. Now do you see all the liquidity that was filled right down here? This has actually been a recent pattern on Bitcoin, where we see heavy liquidity added to the book, and then it gets filled. Now really a question that I get asked a lot of the time is, when do we know that a lot of limit orders, aka liquidity, being added, is going to be bullish or bearish? When you see this, most people would say, hey, that's pretty bullish. That's where something comes in called action and reaction. Whenever you see liquidity added or liquidity pulled, you need to look at the reaction of market orders and the best bid and the best offer. Now what I saw was we saw all of these limit orders added, but guys, what's the result? Really nothing. If you look back here, you can see that market buyers aren't really that aggressive. You can see that the sellers are still dominant. I'm not really seeing a ton of other bids being added closer to price. It still looks like the sellers are in control. Really this bullish action of adding a lot of limit orders really had not much of a reaction. If a bullish action doesn't have much of a bullish reaction, then that to me is quite bearish. What we saw was that price began to fall and it filled these bids. This is what I'm always looking for, because I first found potentially many of you. I know some of you here are going to be order flow guides, order flow masters. Some of you may be a little bit newer. What I found is that order flow first seemed quite complex. It seemed like something that would take months for me to actually learn and years for me to master. What I wanted to do was I first segregated two kinds of supply and demand. I looked at market order imbalances, which is what I began with looking at the market order delta. You can see in green and in red. That's one half of the supply demand equation. What I also looked at were limit orders. That part of the supply and demand equation. I'm going to tell you guys, when I began, I thought that whenever there were more bids than offers, that would be typically quite bullish. Like many of you may have found, there's a large degree of spoofing in the cryptocurrency market. You can't always trust limit order imbalances. That's why I developed a system for really looking at how price reacts to limit order poles and limit order placements. If you can actually be able to gauge both types of supply and demand, then you're going to be able to have a great grip on the overall supply demand of the market. What we see here, I'm going to go on a shorter time slice. We are going to analyze live action. We don't know what's going to happen next. Maybe the Bitcoin and Wales do, but we sure don't. What we see is we saw that heavy selling on the supply run. We see range, but look what happened actually within this range. This was quite telling. We actually see finally more market buying coming in here. You see all that? We see a good amount of market buying coming in here, and then we see this bid that's added close to price and it's fully respected. After that, price rises. What we see here is I still see strong market buying. I do see some fresh supply coming in, meaning larger offers have just been placed, but we always want to look at the reaction that price has to those larger offers being placed. Let me zoom in even more. It's going the 15 minute time slice here, and it also looks like we have a large bid here that was added. To me, well, I'm actually going to first ask you guys. Again, the answer to this, only Bitcoin knows, but do you think that price is going to go sideways? Do you think it's going to go up or do you think it's going to go down? What do you think? Okay, let's see here. Let's see. Tariq could actually answer this question earlier. Let's see. Lana thinks it's going up. Okay. Patrick range. A couple down here and up. Bounce off the 74.30 area. 72.40 is the target there. Jeff is looking at. 72.40? I'm sorry. I guess he means 74.40. 74.20. 74.20. Sorry. Oh, because of the liquidity added here? Yeah. That's what we must be saying. Yeah. Exactly. Interesting. Well, what I'm personally seeing is my first reaction was range, but what I'm seeing is I saw a large amount of supply added, and it does look like it's having an effect on price. We also see that this large bid was just filled. What could occur? What would make sense is, what if we had the strong demand on the strong uptrend here, some pullback and then a continuation? For that kind of system to occur, what I'd have to see is I want to look at the rate of change when price went up versus the rate of change when price went down. Now, the rate of change when price is going down so far, we don't know what happens in the future, but so far it's been pretty slow. It's been just kind of sloping downward, but you can see that the rate of change for the bulls has been a lot more steep. They were much more aggressive and happy to buy. The sellers seem to be really struggling a little bit more. That's why I'm thinking that a weak retracement potentially some around here, unless this gets a lot more steep, it's probably going to lead to a continued bullish action. How would this be bearish? I would say this would be quite bearish if we see a lot of liquidity pulled from the bids. We see continued strong market selling, and most importantly, on any demand run back upward, so price goes down, on any price move back upward, you see just very little market buying. If we see price go up with a very weak market buying, then that's probably a sign that price will just continue going lower. Now, what I'm going to do here is I'm fascinated to see what actually ends up happening here. I'm hoping that, I think it was Jeff who had said that the 7420 may become some good support. If he's right, then absolutely kudos to you, Jeff. Very good read. But this is a really important part of the time for a trend. And whenever you're looking at order flow, it's important to always look at how strong the pullback is, because if it's a strong pullback, it may actually end up turning into a reversal. But if it's a weak pullback, it's probably just a pullback or a retracement. Now, what I'm seeing here is some strength, some bullish strength, and we can see that this current Delta is nearing, it's about $793,000. Let's see if we can get any more. Now, in the meantime, I am going to pull up some beautiful practice examples that I had prepared. So put on your order flow thinking caps, and we're going to put this aside for about 10 minutes. We are going to come back to it. We are going to see if that this kind of move is going to lead to a higher move. We will see. Let's go look at some practice examples, shall we? So the first thing that we're looking at here is an example from a long time ago, but what we see is some strong demand here. And then we see this supply here. Now, I want to ask you guys, anyone who in the audience right now, one simple question. A, do you think it would be a good idea to buy right here, to slide in a limit buy order here? B, do you think you should do absolutely nothing? Or C, do you think this is a time to sell? So I'm going to give you guys one minute to really gauge what this is. And maybe you're right. Maybe you're not, but the chart will tell. Okay, we've got to see. Hard to see the pointer, but let's see a sell, a couple of cells here. People are saying sell, okay. Yep, do nothing. And let's see, wait for 75, 25. Wait for 75, 25. Interesting. And what do you think, Bruce? I would be waiting actually for about 75, 18. Okay, something like that. Maybe even a little maybe even a little bit lower. Yeah, I would not buy up here, but I like it. It's definitely bullish, but I'd be looking for a pullback. Well, okay, so so far, I'm going to reveal the answer here. So this is your last chance to post in chat, but so far no one really smashed it on the nose, got it completely right, but Bruce, you were close. This may shock you, but look at this. Beautiful time to have actually bought. Price continued to rise. Now, how could we have actually discerned that? You know, what were the hints here that that could have actually happened? Well, let me just talk about two things and keep it simple. I'm seeing more dominant market buying than market selling. I think most of you can probably agree we see the same. I'm seeing more buying too. I'm seeing a lot of bids being added here and just when these bids are added, it's actually having a pretty bullish effect on price. Again, if these bids were added and price was flat, that is not a good sign because any injection of large demand should have a subsequent demand move. And if it does, then that's bullish. And here, what do we see? These were added and price rose and price continued to rise. And what do we see? I want you guys to also see just the amount of spoofing that was occurring as price was rising.  I've said this before, but if you do trade cryptocurrencies or you think about making this switch or looking into it, there is a heavy degree of spoofing in this market. Why? Well, it's unregulated. There's no penalty. There's no way that these exchanges are going to hunt the traders down who are using these spoofing and momentum ignition methods and actually punish them in any way.  Whereas in other markets, maybe you be able to, but you may have to worry about the SEC or some other kind of regulatory committee. And the benefit of that, that's not the end of the story. The benefit is that you can actually use other traders spoof place to your advantage if you know how to read it well. Now I'm going to use that as a segue into question two. All right. Let's see here. So this is another pattern. It's a very, very short-term pattern of about trading for about 45 minutes here. Now, using what you had learned from the last one, I'm going to give you guys 30 seconds with this one just to discern whether this is bullish or bearish. You can't pick neither. This one, I'm just asking bullish or bearish here. What do you think? We got a bunch of bullish, one bearish. The one guy who wants to sell, okay. Yeah, but yeah, everyone else is bullish here. Yeah. And let me just reveal one thing before we go on. The buyers look strong. Yeah, they do look quite strong throughout, but I want to show you guys a little hint. A little something that the sellers were doing that may be of interest. Look here. Where my cursor is, I don't know if you guys can, can you guys see my cursor? It's kind of hard to see, but yeah, we can see it. It's over the left-hand side by the big red dot there. Yeah. So that big red dot guys was a large market sell, but I want you guys to see the lack of interest that these sellers had as price was moving lower. They lost interest. I would need to see continued strong sales for me to be confident that price will continue to fall. I'm not seeing that. That was part one. Part two. Look here. We see a decently large sell. Then the cells just stop. You know, this is really telling me that the bulls are in control. The bears are clearly not in control at this point in time. And look at that. Yeah. If you had bought here, well then say hello to plus 1% on your equity or you know, plus more if you're using leverage. So good job. I think everyone got that. That one person who had said bearish, hopefully you wouldn't have shorted with all of your leverage because that would have been not the greatest decision in all decisions. All right. So this is an example that I probably actually want to lead with because it is a little bit more simple and straightforward, but I want to tell you guys the one other thing that was added here. This is known as the chart volume profile. Now it's telling me how much market buying green and how much market selling red is occurring throughout different prices in this chart. Now I want you guys to focus on two things, the bidding and the offering, you know, that's one and then two, the CVP. What does that tell you? And are you bullish or bearish? Sorry, Ben repeat that one again. Yeah. So what I'm saying is look at the CVP and look at the added bids and look at the offers and tell me, are you bullish or bearish at this current price of $80.48? You know, if I said you have to buy here or you have to sell, what do you do? Everyone's bullish. Oh man. When everyone's bullish, that's a sign that typically most are wrong, but in fact, good job. Great job actually. This would have been a beautiful time to have bought. Let's go look at why. Well, what we see here first of all is complete respect of this bid cluster here. I called a bid cluster because we see that there are multiple bids squeezed together right here and let's go look at the reaction that price had. Once this bid cluster was added or really refreshed with more liquidity after here, what did price do? Price is going up. It really isn't telling me that this is bearish in any way. What do we see on the CVP is really a lot more buying than selling, especially at these prices up here. So demand is likely greater than supply. In fact, demand was greater than supply. All right guys, we are at the final hurdle here before I'm going to reveal what happened to price here. I don't even know what happened to the Bitcoin price, but we will reveal that soon. Now, this is an example. Put on your order flow thinking caps because this one is the most difficult by far, very much probably the most difficult. I'm going to ask you guys the same question as usual. Would you rather buy at the 76.25 or sell at the 76.25? Really take a focus on market sells versus market buys. Okay, let's see. Let's see. A bearish, it's kind of both. Some selling, maybe more sellers here than bulls. No, it's about equal. It's about half-half here. Robert's putting out some of the spoofing up there as well. And buy weaker in the selling in the second leg there. Yeah, so it's kind of 50-50 here. Okay, 50-50. Well, I'll tell you guys, there is an answer and half of you are right and the other half are unfortunately not correct. Well, let's first look at this move that preceded all of this fun ranging action that occurred. What do we see? Well, look at all these bits that were added and yeah, they do first have an effect on price. Prices rising, bids are added. This seems bullish. Awesome. Then things begin to change. We see bids added and really not much of an effect on price sell. And then really a super big time for spoofing was here. Look at all of these bids added. This is the most bidding that has been added at any time during this chart. I mean, besides this, you see all of this liquidity added here, but what does price do guys? Look at this point right here. There is no one buying. When you see price flat, no one's buying and you see all of this demand added, that is not a good sign for the buyers because anyone who is thinking about buying or anyone who believed that price would rise would have probably bought here or looked to add more to the best bid because they saw so much demand.  But what are people doing? Nothing. And then we see this big sell in the very second you see that large market sell, these all get pulled. So here we can see at this point in time, this is when you probably think about selling because this is just incredibly bearish. Price falls, we see that. We see continued supply and look, these limit sellers are actually having a pretty strong effect on price. It's respected. Now we're here. This one's tough, but price actually fell. So the half of you that said to sell would have actually sold at a pretty good price. The reason I pointed out this price right here was this would have been the best time on the pullback to have market sold, I mean to have limit sold. Now what we actually see is we see demand added here and price does follow the demand. However, once these bids are pulled, no one really is interested in market buying. We see then offers are added, market sellers are interested, and they just dominate all over. We do see some pullback here. It's not the strongest pullback. It's not very weak, but it's really nothing to write home about. And we're not even able to break the highs here. And price falls as you can see here. Okay. Even though there was all of this liquidity to the downside and not much liquidity to the upside, price moved toward liquidity. Why? Well, we don't really see much of a bullish reaction to a bunch of demand and price falls. All right, guys. So hopefully you guys got four out of four for that. If you got three out of four, you know, that's still profitable. And if you got two out of four, that's still profitable if you have good risk reward. If you got one out of four, you still have potential to be profitable with good risk reward. All right, let's go see what just happened. What is going on here? Let me go to the 30-minute time slice, because we have left this for some time. So we left off right here, and I said, hey, so this looks like demand looks to be coming back in, price rose. Now we see some actually pretty large market sells coming in, and we're seeing this type of ranging action that we had predicted before, where we would expect that price would probably range. But guys, look at the size of these sales. What does this tell you, Bruce? What do you think? Yeah, I mean, sellers coming in, they're also heavily on the, well, they were heavily on the offer there, but kind of equal now. Yeah, so I'd be looking for this to test lower. I liked Jeff's 74-20 level, and let's see if we can get more sellers and maybe even reach down to below the figure there at 7400. It's a lot of liquidity down there at 73.99. Yeah, and this is also round number of 7400. It probably contains many sell stops right below 7400, because we know that a lot of retail traders like to put their stop losses just below round numbers when they go long. And it's here that I really want to explain to you guys the differences between Bitcoin and ES and NQ and really different kinds of futures, because the order flow to me is different. I've looked at both. I am by no means a master of ES and of traditional futures. But with Bitcoin, part one, you will see a lot of spoofing in Bitcoin that you probably won't see in other markets. Two, what I found is that it's actually easier to discern whether demand is greater than supply, or whether supply is greater than demand on Bitcoin than it is to do so on other kinds of futures markets. And three, this may seem a little bit strange, but Bitcoin actually, Bitcoin on BitMEX, which is what you're looking at right now, actually does move a little bit slower than ES and NQ. What I mean by that is if you look at a chart right now of the ES futures, what you would actually see is constant movement up and down. But with Bitcoin, we actually see a lot more ranging. We see a lot more flat price movement. The reason that is is because this is important. The fee system for Bitcoin is quite different than most fee systems for other futures. What you see is whenever you use a limit order. So let's say that I'm going to put my limit order here, right? I have a bid right there. I will be paid a 0.025% rebate whenever this bid is filled. What that means is that if I'm trading a $10,000 position, then I would get paid $2.5. I'm trying to do that math in my head. 0.025% of $10,000 would be $2.5. So for any limit order, you will be even a rebate of 0.025. Now for any market order you use, you have to pay a fee of 0.075%. So really when you're trying to do this full time, if you want to scalp the coin futures, you really have to find a way to use limit orders and not market orders. Because if you can use two limit orders during a trade, then you can actually receive two rebates, a 0.025% on the open and a 0.025% on the close. But if you use two market orders to enter and exit your position, you'll actually be paying a total fee of 0.15%. Does that make sense, that fee structure, Bruce? Oh, yeah, sure. Some of the other markets do have this, like the maker-taker type of thing. You provide liquidity, you get rebates, or if you take liquidity, you get penalized for it. But yeah, it sounds like a much more pronounced here in these digital currency markets, which is great. This just means a lot more liquidity. Yeah, a lot more people want to place these limit orders rather than potentially use market. Because if you want to scalp order flow, I can't really tell you that it's going to be profitable to do so with just using market orders because you'd have to have price move at least 0.15% for you to break even. But if you use limit orders, you could even use limit orders at the same exact price and make a profit. You make a profit of 0.05% on your trade size. I'm not saying to do that, but I'm just saying that that is how these markets are different. Now, this action, I'm so happy that this action is the way it is today instead of just a very boring market. This is actually a pretty interesting market today. Now, I want you guys to focus on if price does go up, really the amount of market buying that you see as price goes up. Because that's really going to tell us whether any price move upward is a retracement and the sellers are in control or a full on reversal. So let's actually take a zoom in. We are going to do 15 minutes a little too zoomed in. This is me, I'm always like trying to get the right time slice. Okay, so let's go take a look at who's in control here. I really want to see price rise and then I want to see if those market buys actually still remain large. So I want to hear from you guys. What do you guys think is likely going to happen? Do you think A, price rises on weak demand and falls? B, prices falls. C, price skyrockets to the moon. What do you think? A is retracement. B is just yeah, prices drops. C is we go moon. So what do you think in the chat is likely going to happen? To the moon. Oh my god. Okay, all the crypto traders who are joining the seminar now are all going to say moon. But as you know, I'd have to say the question that no one likes, why? You can't just put true or false or yes or no on a question like this. You have to say the why. So if you think that we're going to moon, let me know your why. I think just bullish behavior here. When we were zoomed out there a little bit higher timeframe. Let's go higher time here. Sure. Let's go to 60. Yeah. Well, just the bullish behavior you see there after around 1107 or so. Raging the demand. Yeah. I think that's what some people are referring to here. Market buyers are coming in. If price does just skyrocket then absolutely kudos to everyone who just says moon. Even as a meme, good for you. Let's go take a look at actually how big was this guy. This was $2.3 million worth of market buying in Delta. Again, what we're looking at here with these dots guys. This is market buying minus market selling or the absolute value of either. So when I hover over this, this means that in this time zone, I mean not time zone, during this time and during this range of prices, we saw $2.3 million more worth of market buying than market selling at that price point. So this should jumpstart something, but really the question is, is this going to be a weak demand run where we're just like not much happens? Or are we going to moon? No, well, we're going to see. And if you guys want to know actually how to get these settings because the default is not like this, you can right click. We're going to hit volume dot settings and I have mine switched to volume Delta. Now what I also like to do my volume bars haven't been configured yet, but I also like to do a volume Delta for the bars too. Because I'm going to, I'm going to show you guys old strategy that I use that I didn't really do. I didn't really talk about so much in my learning course, but I will show it to you guys really looking at the size of the buying and the size of the selling by looking at these volume bars and the histogram. So here you can see we look at this supply and we look at the selling. It's quite large. We look at this demand and guys look just not much buying here. If you look at the size of this histogram here, it's this is clearly larger than this. There was clearly more selling here than buying here. So what did price do? It continued to fall. Now what we see here is just about the same level of selling that we see here, maybe a little bit less. But what we see here now is that there was more buying right here than there was selling anywhere here. So I'm thinking that these buys, I mean we either go up and then we see less market buys or we go up and we just see lots of market buys on the moon. But this is going to be really a telling time for whether price is going to likely fall or to drop. So at this point, I want to ask everyone here any questions that you have about overall order flow? How cryptocurrency can be a bit different? Any questions that you may have about order flow? You know, the floor is yours to ask away. Okay, let's see. Yeah, I mean they've been responding here to everyone who's responding to your question. Is this recorded? Yeah, Leo, it is recorded. I will, in fact, let me, I'll put the, here we go, here on the sell side. Let's see if we can drop it now. Man, that was $4.37 million worth of selling here. So what we actually saw was anyone who had said, A, weak demand run, you were right, my friend, because this is looking like we weekly go up and then we fall. Interesting. But still, I mean, sorry for interrupting you, Bruce. I just, I get excited by bearish and bullish, extreme market buying, extreme market selling. Oh, no worries at all. Just answering the question here about the recording. And yeah, you know, you guys, it's on our YouTube page. I'll put the link in here for you. And I'm going to put all of Bennett's links in here as well, so that you guys have them. And we can go through all that. But hold on just a moment here, Leo, and I'll get it. Okay, guys, so I put it into the chat there. Hold on, hold on just a moment, entire audience. There we go. Okay, there you go. So it's in the chat. So the recording link is in there as well.  You won't see it until another hour or so. You know, we need to let this pass and then it will, you know, we'll see it, we'll upload it there. So, yeah, here we go for 7400, yeah. And whoever had said moon, unfortunately, was not correct here, as you can see. Setting moon. What was that? They're looking for the moon setting.  What I see here is this demand. Did this demand get pulled? Because it looks to me that we saw all this demand of, we have 200, we have $259,000 there, $524,000 there, 812, you know, we have a whole bid cluster and that's all gone. Where are the bidders? They're just not here, you know, so this is not looking, this is not looking lovely.  So imagine that we wanted to sell here. Just imagine, I want you guys to tell me a price that you think would be a good area to place a limit sell. Again, this is just for practice purposes. I'm not actually doing this, but do you think that, what do you think is a good price here in the very short term to put a limit sell? Okay, just waiting here. A lot of questions are coming in for you as well, so we'll get to those. 74, 19, 20, 22, 17, somewhere around there. Okay, I'm going to do an average of that, guys, and I'll do 20.5. That is a little bit higher, but the reason I like 20.5 is previous support could become future resistance, so potentially 20.5. Now, I want to let you, before I answer all your questions, I want to talk about execution and really some strategies that we use with our trading, and this may be different than traditional futures, but what you can do is let's say that you have a trade size, and you want to trade with $20,000 in your size, 20,000 contracts. You can split that up into two limit orders, both of 10,000 contracts, and then put a stop loss beyond that, but the benefit of that is, let's say that I have one limit sell here, right? And then I put another limit sell, let's say I put it at 15, you know, it's going to, yeah, sweep. So I put another at 15. What this means is that let's say that just one gets filled, then price goes down. I'm still in profit, even though I'm only trading with 10,000 instead of 20,000. Let's say both get filled and then price goes down. Well, awesome. We have a full position size and we get to reap the rewards. Well, let's say that both get filled, but then it hits our stop loss. Well, we just move on, but the benefit of segregating your limit order sizes is that it can allow for more execution possibilities. And at this point, I would actually remove these limit sells. I don't think that I'd want to use these anymore. I would probably even run this kind of setup. Again, this is not financial advice in any way, but let's think about that original 74, 20.5 that we had thought. So imagine that we have two limit sells, one here, and then the other one, imagine, I don't know, this is, this is seeming kind of strong. So I don't want to put my limit sell somewhere else, now. But I will ask you guys, if we were to use two limit orders, where do you want that second one to be? You want it here or do you want it a little bit farther? Yeah, the 7430. 7430. Oh, you guys want to go far away. 7428. Really far away. Oh, no one wants to sell here? Yeah, 7417. 7417. Okay. I'll throw that guy there. Okay. So a type of thing that, I mean, but do we even think that price is going to reach here or is supply too large? You know, at this point in time, I would have these two limit sellers, but I would also be flexible. And if I saw something happen that looked like price goes down to here, and then it was very weakly upward, I'd be even inclined to potentially put one of my limit sellers here so that maybe price fills us and then it just dumps. That could be a scenario, where price fills us here and fills us here and here and our total position average is somewhere around here. But I really like putting different limit sells at different prices, different limit buys at different prices, because you just get so many more opportunities to actually execute instead of just hoping that one limit order fills, you can use multiple. Now let's see if price does get to our 7417 so that our imaginary limit seller of $10,000 fills. So yeah, any questions that the chatters have? Yeah, let me get to some of the questions here this little earlier. Some people would like to see some more about spoofing. Oh yeah, I mean, everyone wants to see more about spoofing. So sure, I will entertain all of the spoofers here by, let's zoom out and let's go look at just the overall spoofing that was occurring, all right? So let me click that young none and prepare for a bit of lag guys, but let's let's go blast off into the journey of spoofing. So I'm zooming out to about a four hour time slice. So this is going to show you four hours of order flow trading on XBT USD. Let's just look at where the very large limit sells and very large limit buys were added. It's a little bit difficult to see here, but the first one that I see is right here. You can see that what ended up happening is I don't want you to focus on the yellow here, but on the orange, because remember that orange is one of the larger order sizes, red is the highest of course. Now I see a large amount of that placed here. Price falls, this could be potential spoofing. How do we know this is spoofing? Well, what ended up happening is look at it was placed again and price fell and then it was pulled. This to me is potential spoofing and something that you can actually look out for. Now your question may be, well, how do I profit off this? Well, what you can find is if you notice that the spoofers are done spoofing on the offer and you believe that market buyers are regaining control, then you can look for placing a bid, replacing a limit buy somewhere in order to catch what had ended up happening. Because what we ended up actually seeing is these spoofers trying to push price down just before price rose. This was classic spoofing of potentially traders trying to get price to go lower to fill their bids so that they could ignite momentum to go upward. You can see that there as well. This is just too interesting. We have to zoom in on this. What we're looking at is the order flow that had occurred just before price had just risen a quite significant amount. I'm just going to zoom in on what was going on here. What was going on in this area here before price rose? Yeah, we see a lot of limit sells here. A lot of limit sells here and just not many limit buys. But how would we have known that this is spoofing? How? Well, what we would have known is two things. First of all, market buyers are dominating over market sellers. Two, there's been no respect for these limit sell orders. Really, price is trying to get as close to them as possible. Price has one touch, two touch, three touches, a fourth touch here. It's just constantly budging up against that $72.29. Eventually, it fell. But that's really what you want to look out for. Whenever you see a price move that may be spoofing, look at the size of market buys and look at the size of market sales to really think who's in control here. Are they just spoofing to try to fill orders, or are they actually putting these orders because they want price to just dump? Discern that by looking at the market order flows. Okay. Okay, good. Looks like both of our orders would have filled here. Our imaginary orders at the 20.5 and at the 17 with an average size of about 19 by my math. So imagine we are short 74.19 with a stop loss, let's say here. Okay, so other questions that anyone might have? Yeah. A few questions here about looking at the different columns and getting, deriving meaning from them. You have two COB columns there, but you talked about the CVP, but also do you look at, which is chart range volume profile, but you also look at the CQC, which is chart range quotes counter or chart range trades counter for the CTC? Oh man, all the acronyms. All right, let's bust out some of them. So let's go on. I actually don't look at these as much. My favorite would probably be SVP, the session range volume profile. What that tells me is the overall market buying and market selling throughout the entire session that I have loaded up. We can also look at the trades counter. And the difference between these two is this is going to show me how many contracts traded at each price, but this is going to show me how many trades were initiated at each price. Now these get a little bit more complex and I can show them, but these are ones that I don't use as much, but let me show this here. Oh yeah, you can see that the numbers are just all over the place. Let me just do bars only just to keep this simple. So this is showing me of the quotes of the limit buys of the limit sells, really what's been added. So you can see here and what's been pulled. So we can see that we had a large amount of bitted interest around here, right? And I can even do this just to show we have a large amount of bitted interest around the 7410, meaning a lot of bids had been placed there before. And on the ask, also known as the offer, we actually had a lot of limit sellers on that 7410 as well. So it seems like that 7410 level had a ton of limit order activity. Now what you can do with that information, of course, is up to you. But let me pull up the SVP just to show you guys what I typically use for my own trading. Now the reason I like to click bars only guys is bars and numbers can get kind of cluttery because of the size of just how much trading is done on BitMEX. But what I look for when I look at the SVP is two things. One, who's in control by looking at the overall picture of market buys versus market sell. Two, where can I find trapped buyers and where can I find trapped sellers? So to do that, if I see a large amount of market buying above price, well then what that tells me is that there are potentially trapped traders up here. If I see a large amount of market selling below price, then what that tells me is there's potentially a large amount of trapped shorts just below. So imagine the price goes up $30 and we see just all of these traders had shorted here. Well then what that tells me is that $74.10 would likely become support because so many traders had shorted there if price went higher. So this kind of trapped trader analysis can be really nice for locating areas of support and resistance. Okay. Let's see, Ngyu has been asking the one about the questions here on the trade counter, quotes counter. And I'll just, I think it might be better to refer you Ngyu to maybe the platform basics webinar or, you know, we can go over that outside of Bennett's webinar, I think. Okay. Yeah, it might be easier because you're looking for something very specific. Okay. Let's see here. Isn't it more reliable to watch on the higher timeframes? Andrew is asking you. When you go on higher timeframes and use of volume delta, what's going to end up happening is that some of the deltas are going to cluster together. But what I like to see is much more specific market buys and market sells during each supply and demand run. So unfortunately, I mean, not unfortunately, but you're going to have to look at the macro and the micro. It's good to look at the big picture, look at a four hour analysis of all the order flow that occurred to see the overall spoofing, to really see the overall trend and momentum of the market. But it's very important that you look at individual movements of supply and demand. So if I do this and I zoom out and I say, you know, let's look at the market buys and the market sells, you're going to notice that some of them begin to cluster together, right? You guys see many less market buys and market sells than you would previously. Well, that's just the way that it's calculated. But what we do see here is the overall momentum and the overall move of the market. Because without a macro approach, I would have never known that price had momentum ignition potential momentum ignition to the upside and then a really strong down move right here that actually filled a lot of liquidity on market sells that were what is that 18.2 million dollars of clustered sell around that area in Delta. You know, we have a large selling here. But then at this point, I could see all of the spoof orders that are here. But then I also want to zoom in on the micro. Now, what exactly I look for in the micro is who's in control again. And a really nice feature of bookmap is this volume percent to see who's more dominant the sellers of the buyers. This is saying minus 31 percent, which is telling me that there's a large deal more selling than buying right now. So my answer is both. You got to look at both. Okay. Great answer. Let's see here. When someone was talking here about ignition and defining ignition. Okay. That's covered in my learning course where I talk about momentum ignition. Basically, momentum ignition is a process where HFTs, traders, really anyone who has the capital to do so, they're going to identify price points where there are many buy stops and where there are many sell stops. Now with Bitcoin, there are also liquidations. So what that means is that there's certain price areas. Let me just show you guys something. So imagine that right here. I know for a fact as an HFT, there's a ton of buy stops. There are a ton of liquidations and shorts here. I know that if I can actually pressure the market to reach here, then the market's just going to skyrocket higher. And what can I do? Well, this is where momentum ignition comes in. I can spoof the market and I could put many bids to try to get price to reach a certain zone of liquidity, liquidity in the sense of many stops and many liquidations. But once price reaches that, I know that it's going to just electrify upward and I can sell at much higher prices. Now it's not just bidding that these guys do to try to get price to reach a certain price point. What they can also do is put a lot of bids and then start market buying, market buying, market buying, market buying, and then potentially stop market buying once the market takes over with a lot of buy stops, liquidations being triggered, then they can sell higher. And if you are, I don't want to say you, but HFTs that are large enough can run systems like this to just put in profit day in and day out in an unregulated market where you can use momentum ignition as much as you want. So that is what momentum ignition is. And the question you may have is how do I look for it? Well, it's not the easiest thing to really discern when momentum ignition is occurring, but I can tell you that there is typically a process that does occur. Usually you're going to see a lot of spoofing and a lot of buying or selling, buying if price is going up, a lot of spoof bids, a lot of buying. You see price actually reach a certain point where it just skyrockets higher, and then you see all of the bids pulled. Now it's that move when you see all of the bids pulled that you may know that that was likely momentum ignition. So to cap off really what I'm saying here, let's zoom out and go look at that momentum ignition that had occurred when price just skyrocketed very, very high. There were a few patterns that were occurring. Well, what we see is that we have a large amount of market buying. Let's go look at here and imagine what we could have actually done to have known to potentially have sold. This would not have been easy, but it is potentially something. So what we see is we see just dominant market buys. And it's kind of hard to see, but do you guys see all of the best bid being very, very large? What we see here is that the best bid and that the bidding near price is quite large as price is going up, but these offers here are quite stagnant. And this is the exact kind of pattern that you're going to see with momentum ignition, a lot of bidding with momentum ignition to the upside, a lot of bidding near price, a lot of stagnant offers that aren't really moving much dominant market buying. And then you may wonder, well, what happens at the end of this momentum ignition? Well, do you see all these spoof orders that are igniting price to go higher, just clear momentum ignition, they're gone. Really, they just drop out of the picture here. They try to come back here and then they're completely gone. And what we see is a complete bid offer flip in the book. The bids went from the spoofers, the aggressors, the ones who try to get price to go high. Then when price does this, the smart traders, the HFT sell, and then they put all the pressure on all those spoof offers on to try to get price to do this and fall. Okay, I'm trying to do it for dramatic effect, but it's not like time with my words, right? And fall. Okay, come on. Where did you, yep, and there you go. And there's the move that happened afterward. So I know that's a long answer, but it's a long answer because it had to be because momentum ignition is not simple. It's something that HFTs don't want to be easy, don't want it to be easy for you to discern it. But you can. That just comes with a lot of practice and really the right information for how to look for it. All right, that's my answer for a good old momentum ignition there. Okay. So some questions here about the contract itself. Let me, and then we find it here. Yeah, just a moment. Yeah, so what is the price for the future Bitcoin, futures Bitcoin contract here? So I don't know, I don't know, David, if you're talking here about or you're asking about futures Bitcoin on the CME or if you're talking about like BitMEX here, which is leveraged. So I mean, yeah, if you can elaborate on this, Ben, that'd be great. Sure. There are two types of futures that are available on BitMEX. You have traditional futures that expire and we have perpetual futures contracts. Perpetual futures contracts will never expire. They're just used to trade a leveraged instrument. Now each contract, meaning each time you see any number here, 1,000 or 2.57 million, those are contracts. Now each contract is worth one US dollar. So you could actually say 3,000 for contracts or you could say 3,000 for dollars because they're worth the same. Okay, but so a dollar move is a dollar is a dollar here in Bitcoin? Well, what we're talking about two different things. That's the price of the dollar move is a dollar move. Yes, but I'm talking about size, really the volume. So when you see this say $129,000, that's $130,000, $231,000. Okay. Okay. Let's see. I think let's see here. What about the slippage? Okay. Yeah, a question here about slippage in some of these cryptocurrencies. Slipage, yeah. So, well, slippage can be high when you're using a stop loss. But of course, if you use a limit order, you're going to be transacting at that limit order price. So to really minimize slippage, one thing you can do is spread your liquidity. So instead of using one stop loss, this is not financial advice. Of course, you could use two to three stop losses at different price points. If you do that, you may encounter less slippage if you're a larger volume trader, you know, with trading with at least $100,000 leveraged. Now, I will tell you guys, remember we had put those fake limit sells at 20.5 and at 17. Okay. These are going to come later. Remember, we had put the 17 to 20.5 with that average price of sell of about 19. Look at that, guys. We're making money. Well, making imaginary money because that's where we would have put our limit sells that we all agreed on in the chat and imagine that we buy right here because this is looking like, or maybe we don't buy, or maybe I asked the chat. What do you guys think here? So we are all collectively in a position that was short from 74.19. What do you want to do here? Do you want to hold this short? I'm not saying that in any way like, oh, don't hold this short. But do you want to hold this short? Or do we want to just get out of it right now? What do you guys think? Let's see. Hold. Hold the short. Some people are saying get out. Well, there are really a lot of different answers here. Get out of the short. Yeah. Get out seems to be the most here. Okay. Yeah. Well, so far it looks like those who had said get out, pick the right option. The reason why you may be confused, whoa, guys, why did so much selling happen then we see this buying? Well, we actually tapped into the stop losses right below 7400 that I was talking about. Price went below 7400 and hit some stop losses and potentially some liquidations. And then from that, we saw that the seller interest was satiated. Really, anyone who wanted to sell has probably already done so. And now we see the buyers coming in and we see some liquidity here and we have to see whether this holds or not. Okay. Looks like the sellers are coming in, but they're not that strong. Look at that, guys. The sellers are not that strong right now. Let's zoom in even more on this fun. Yeah. Okay. Can the buyers come back in? Because that was not the best looking sell. It was only what was that? How much like only $361,000. It's not even that much of a sell. So, if we had exited our short around here, I think that that would have been good. We would have locked in a little bit of profit and we would be reevaluating the market right here for potentially some other limit orders for us to place. Okay. I think that's about it, Bennett. Other questions in here? Guys, there's some questions that you're asking about, which are much more based about the platform itself of Bookmap. I'd be happy to answer those for you later, but if you have any questions specifically here for Bennett, then this is the chance. Okay. I'm going to put into the chat again all the different links, his contact information, etc., the recording where it will be soon. Okay. So, you'll get all that. And yeah, take a look in the chat. And let's see here. Here's a question and then I think we'll wrap it up. We've been going for just a bit over an hour, so this will be, I think, the last question. And then we'll end on the slide here and I'll show you Bennett's website, etc. Okay. Let's see. Andrew is asking, difference he knows between order flow and Bitmex versus other exchanges like Bitstamp or GDAX? Yeah. Very, very, very, very different. First of all, GDAX got renamed to Coinbase Pro. And their Coinbase Pro is not leveraged. Coinbase Pro is currently not on margin for any retail traders. Bitmex is leveraged. So, you're going to see much larger volume sizes on Bitmex because it's on leverage. I would also recommend, if you're going to look at one source of order flow, I'd recommend Bitmex, XBT, USD, Bitcoin. You can look at others, but I just think that this is probably the best way to look and potentially even trade. You can trade this live on Bookmap once you have that set up. There is a pretty big difference, but it's just one's future. One is just spot. Okay. Okay. Great. Okay. Well, I think that's it. We'll wrap it up here. Let's see. Okay. Renee, we'll get to your question here, a topic on liquidation. Can you give an example of 1 to 100 where the liquidation price kicks in? 1 to 100 where the liquidation price kicks in. Oh, do you mean leverage 1 to 100? I think that's what she's talking about. Yeah, sure. Yeah, I can answer that. So, when you use 100 times leverage, you will be liquidated with a half percent price move. Some people think, wouldn't it make more sense for a 1% price move? But that's actually your bankruptcy price. You will be liquidated, meaning you lose all your funds on only a half percent price move. So, if you believe that many traders are actually using 100x leverage, and let's say many of them are shorting with 100x leverage, then a half percent price move up is going to liquidate a lot of traders. Okay. All right. Excellent. All right, guys. Let's see here. Let me, if you don't mind, I'll take the screen, Ben, and I'll show the slide here. And so, everyone, if you have any questions here, you can go to these areas, and I'll put them back into the chat for you as well. Okay. So, just a moment. There we go. All right. So, yeah. So, here's Ben at Twitter, his YouTube, but you know, search for Bitcoin Trading Challenge. You've got his email here and his website as well. Okay. So, bitcointradingpractice.com, and then he's referring you here to the guide and the order flow outsmart the market maker here. Okay. And if you're interested in Bookmap, he's a Bookmap affiliate, so you can get special deals from Bennett using this link here. And that's pretty much everything. Oh, and then also the recording. So, I have that in here as well. It's obviously not in there yet, guys. It'll give me an hour or maybe an hour and a half, and we'll have it up on the playlist. Okay. Bennett, thank you very much. Fascinating stuff to see Bitcoin here and all the different kind of nuances in the cryptocurrencies working within Bookmap. A lot of guys are just kind of getting into it now or are new to it, even though we've had it in Bookmap for quite a while now. But it's fantastic that you are exclusively looking at it here in Bookmap. Thank you for having me. Okay. All right. Thanks, guys. And we will catch up tomorrow at the same time. And, yeah, I think Jason Love is up tomorrow. And then, guys, great, great traders throughout the rest of the week here as well. Thanks again, Bennett. All right. See you, guys. Bye-bye.


What did she say? She called you today coincidentally? I think this has got to be their bird. Oh my god. Hello. I found him on Thursday. Last week. Yeah. Where? Chatsworth, I told you. That's why I didn't know if you're messing with me. So tell me what happened. She's leaving because in her house mom flew to Africa right? Yeah. This guy loves the bird. He always comes here to spy stories. Exciting talking about her wife. She came in and she said that she lost her husband just flew to Africa. Yeah. And she came home and I guess she left the door open from the cage and then when she came home the bird was gone. What? What did she also leave the door of the house open? Like I don't know how. No, the key is the bird. This cage is how it is. I think this has got to be their bird. Has he ever told you anything the bird says? Hmm. How did she not leave her information? It just has to be her bird because yeah, they're lost at the same time and found in the same place. Guys, Felipe might have new information if he tells me that this bird says let's go raiders. We think he said let's go raiders. Let's go, right? Oh, let's go raiders. Oh, let's go raiders. Let's go. And this is the bird. Hello. Felipe? Yeah. What what does the bird say? I have you with... Go raiders. Who told you that? The lady. Yeah, the bird says go raiders. That's the one? Yep, it's the one. All right, she's gonna be so happy. What did she say? She called you today coincidentally? No, I was looking in the books and everything because I know I took her her number for a cage or something. Oh my god, fantastic. I called her and I was like, is there anything that the bird says a lot? She goes like, yeah, go raiders.  Me too. So I'll just give her your number then. Okay, give her my number and then the problem is I'm not going to be at home. Is that okay? Tell her to text me and then I'll call, find a way to call her and talk to her. This is amazing. She can call me right now if she wants. I'm here. All right. Okay. Cool. How was the trip? You too. Okay, bye. This is fantastic. This is fantastic. Can you hear me? Can you hear me? Yeah, I found the bird's owner. Oh, cool. Isn't that exciting? I contacted Felipe on Instagram and I said, do you know anyone that lost a gray? And he's like, some lady came in last week. I go, where does she live? He goes, Chatsworth. I go, that's gotta be her bird. And then he said that it's like her husband's bird and her husband got on a flight to South Africa or Africa. The moment she came back, the bird was lost. She didn't know what to do. She didn't even leave her number or anything. And he remembered that one day she bought a cage from him and then he started looking it up and calling people until he got the right person. Wow. And then he said, does your bird say anything specific? And she goes, yeah, he says, let's go Raider. No way. Yeah. And she said he has a bloke broken claw, which he has like a broken like foot. Yeah, what's happening now? She's going to call me. How does it feel? You don't even know.  I thought you were going to say like, oh my God, like, how do you even like find an impossible burger in the middle of like this airport, especially in Texas? I actually searched. I really did. I searched around. I went everywhere. I literally went to the other side of this like airport. I think that's relative to the story I'm telling right now. I don't know. It just feels like it is because you have a camera. I mean, I was thinking that's why you're putting the, could you just finish the eating, you know? So you were like, Marlene turned on the camera not to discuss anything about Paris. She turned on the camera to discuss that in the middle of the airport in Texas, you found the gluten free vegan burger. Yes, also I'm your hero because you were starving and eating another egg. What's the news? Oh wait, don't tell me you found a home for, you found the owner of the- I didn't find a home. I found the bird's owner. How? Could you be more excited? No. I mean, yes, it's great for him. But I really like them. He's cool, you know, like it makes me want to like watch the Raiders. Where'd you find him? Felipe helped me find him. Under a rock. So what's going on? How is he gonna, what, we're not even gonna see him go away? They're gonna give visitation rights. No, I haven't spoken to her yet. Uh-oh. How much you bet this is her? Who is this? Hold on, hold on. Hello? Hi. Yeah, this is Marlene. How are you?  Yes, I definitely do. Oh my god. Definitely gonna be very upset that this vlog is gonna go up with me looking like this, but you gotta do what you gotta do I am going to Marlene's house right now because I'm gonna go meet Lynn. She is the owner of the African Grey bird that we found and the African Grey bird's name is actually Whisper, which is you know, very cute. I have Harry here knocking around all over. I'm in a rush because we said we'd meet at 9 30 and she just called me and she got to Marlene's house at 9 11. It's currently 9 16. People being early is the worst thing for someone who's usually like 9. If you say 9 30, I'm gonna be there at 9 30 and maybe I'll be there at 9 25. Definitely most likely it'll be there at 9 35.  This is probably gonna be the last time you see my face. That's my guide, Harry. Oh, stretch. Are you ready to get some credit? Okay, your crest is all there. You're beautiful. Oh, wiggle wiggle. We're gonna take a poop. Oh, wiggle wiggle. Yeah, we never use wiggle wiggle. Yeah, we were singing and he and she danced like that. Yeah, she did. She's so excited to see you. Oh, let me grab her her page and then we'll see if she'll come right out to it. Should I? I'm gonna open it then. At least you too. Yes, I did. Oh, she went right up there. Oh, yeah. Yeah, she went right up there. Yeah, go ahead. Oh my God, this must feel so good for you. You have the sweetest African gray. I have the barking. Yeah, you're ready to go home. You see the rest of the family? Oh, yeah, you got a couple little nicks. Right, they're not too bad. No, no, but she's clumsy. She, you know, if that's all you were talking about, she possibly could have done that to herself. Oh, okay. She's not a very hip flyer. She walks, honks. You can see her one broken paw. Which one was that? I didn't notice. Well, it's this one right here. See, this doesn't bend. Oh, I see. The rest of them bend up. See that claw doesn't. I wouldn't have noticed if you didn't say anything. You know how I usually have to pick you up? Oh, she'll go on the ground for a second, who's a good girl? Even the vet was like, no, no, she could step up.  And he tried and she wouldn't step up to him. I was like, I told you. No, but, you know what? I don't push her. No, she shouldn't. She's so sweet. She must be so excited to see you. Who's your favorite team? I can't believe how affectionate she is.  Yeah, go home and take a shower. She takes a shower. Yeah. You're gonna have to get in the cage. Are you excited to go home? It's how you use this cage. I set it next to my bed for her to sit and sit a bit. Oh, that's so sweet. She sits on top of it for no injustice or overnight. No wonder your name is Whisper. She's so talkative because I feel like African grays don't talk in front of new people. They keep it all quiet and they like don't say anything until they get to know you and they see you a couple of times. But she's just like a superstar. Yeah, she likes to talk. She loves the Raiders because she gets all her attention. Oh my god. I'm whispering a little bit because I don't want Jersey to scream again. But this lady made us gift baskets. One for me, one for Marlene. She's super sweet. Like, honestly, I don't, one's like a lavender and one's like a rose. She's super, super sweet. I cannot believe she did this a week. She was like, you didn't ask for a reward or anything. And I was like, of course not. We're bird lovers. Like, we're just way more excited that you're getting united with your bird. She climbed into her cage right away on top of it. Of course, we put it here. You saw a little bit of that. I took Harry out of the room and she put her on the, put the cage on the floor to see if like the bird will naturally go in it, like walking around in it. But it didn't work. So she like gently took a blanket, like a soft, light, beautiful blue blanket kind of just like put it next to her so she could like slowly go in and that worked. And then she's really excited and she was like dancing outside. She was barking in the cage. She was like shaking her head. She was like waving. Oh, it was so cute. Obviously, I'm filming this on my iPhone and I'm not a vlogger. So I felt weird like having her do these things. So this is probably the worst vlog. But that's that. Um, I hope this brings us some sort of good karma. And one day Picasso comes back, you know what I mean? Or something like that. I don't know. Just wish this could have happened for us in Picasso. But that's okay. We did a good deed and that's all that matters. And an African gray and the owner are reunited. Mission to get bird back home is a success. I wish every time we found a bird that this looks like this happens. I hope no one ever loses their bird. But if they did lose their bird, I hope they get reunited. Whoa.  They don't want a reward. They know the love and the bond between a human and a fire. You know what I mean? Anyway, covering my face because it ain't cute as you saw in the beginning. Bye bye sniffers. Hey guys, the feathered fun box is our new subscription box of toys, treats, and other surprises for you and your bird. So don't forget to check the link below and get in on that. And guys, don't forget to check out my new line of organic bird food called Marlene Signature Blend made with tops. The link is below.


Welcome to the nonprofit show.  We were just mentioning in the green room chatter that this is actually the last Monday for many of you that are wrapping up your fiscal year. So today's conversation with Carrie and Kelly is going to be one that you won't want to miss. They're talking to us from one cause about the research release, the 2023 giving experience studies. So there's a lot to share here. Again, for those of you watching and listening, we're so glad that you're here. We have Carrie Woznak and we Chief Marketing Officer at one cause. Thank you, Carrie, joining us from Chicago. And Kelly, with Flesquaz Hague, Vice President of Marketing also at one cause, really excited to have you both here to talk to us about this study. Before we go further, we want to remind you who we are. If we haven't met yet, Julia Patrick is taking a much needed break on today so that I can nerd out with Kelly and Carrie. I'm Jared Ransom, again, your nonprofit nerd CEO of the Raven Group and really excited to have this super nerdy conversation. But before we dive deep, we want to say thank you to our amazing presenting sponsors. They allow us the opportunity to have these conversations. So thank you to our friends over at Bloomerang, American nonprofit Academy, your part-time controller, nonprofit thought leader, fundraising Academy at National University, staffing boutique, nonprofit nerd and nonprofit tech talk. Many of these companies, believe it or not, have been with us from the very beginning. We started the show in March of 2020 and produced over 800 episodes. And if your jaw just hit the floor, like mine often does when I mentioned that. I want to remind you where you can find all of these episodes. So the latest and greatest, you can scan right now with your smartphone, the QR code and download the app. And just in a couple of hours, our conversation that we're having with Kelly and Kerry today will be up on the app. You can also find us on streaming broadcast, as well as podcast. So there's no shortage of where you can find today's conversation. Again, so glad to have you ladies back here with us. I know we've had representatives before from one cause. So I keep saying back with us. I'm really excited to have you. So Kerry, again, chief marketing officer, Kelly, vice president of marketing, welcome to both of you. And thank you for joining me on your Monday morning. Thanks, Jarrett. We're super happy to be here sharing the giving experience study, just a little bit about me. I'm thrilled to be working with one cause for the last 14 years, helping nonprofits use technology to raise more, reach more for their missions. And personally love being involved in different foundations, different organizations, helping them raise money each and every year. So again, we work with about 10,000 organizations and super thrilled to be here. And I will turn it over to Kelly to share a little bit more about herself. Thanks, Kerry. Thanks, Jarrett. I'm excited to be here. I do marketing at one cause, but in my previous life, I was a fundraiser in the frontline trenches as a director of development. So I love to talk fundraising. Jarrett, I love to nerd out on data. I love to nerd out on trends. So I'm just excited to be here to share what we learned in this latest study and just have a really great conversation. Yeah. And I see that we all three brought our own original nerd glasses. So here we are. And we need the tape. There's the ones that I hand out. But yeah, that's okay. We're packing our own heat today. Well, let's start off, Kerry, if you would tell us a little bit about the 2023 giving experience study. When did it take place? Who participated all of the good details on this? Let us know, you know, really where this all started. Yeah. I mean, this study is actually, we are going on the fourth year of the study, which I'm super excited to be able to share the insights and data in it. And what's exciting is that the social donor research that we did in 2018, it was under a different name in 2021. The second study, which was conducted, shed really a light of how giving is changing during the pandemic. And then last year, what we really saw was the beginning of return to in-person. And this year, we're really seeing a big return to normal when it comes to social giving, which will explain what social giving and social donors are in just a minute with Kelly. But just a little bit about the methodology around the report is we actually partner with Edge Research, which is a firm out of Washington DC, the DC area. And they are focused on working with nonprofits like Human Rights Campaign, Meals on Wheels. And when the survey is launched, it's a pool of people that's census representative, which is key. So this is not self-reported nonprofits. This is census data. And we're making sure that it's an accurate representation for various groups, all ages, regions, races, income levels, and it's a focus on 1,100 people who identified as social donors in the last 12 months. And so we're super confident in really, Jared, the data that's coming in, that it's representative of the larger population. And that's why we're so proud to be able to share the data with the nonprofit community and industry. And we believe that it's helpful for any nonprofit looking at how donors are interacting with events and social donor activity. So I will share one in four US adults identify as social donors and their loyalty continues to be trending upward. And so I will turn it over to Kelly who's gonna talk a little bit about what is a social donor? How are we defining that in this study? Absolutely, so. What is that? Okay, so, because people would say, okay, social donors at social media, no. But before I get into the definition of a social donor, I wanna point out one extra thing about the study is this is self-reported data from the donor. So as nonprofit nerves here, like hearing from the donors themselves, having the donors tell you what they want, what they need, what they expect in giving and from the nonprofits they support is so important. It's not transactional data. We're hearing from 1,100, as Carrie said, donors themselves. So when we throw this term around social donor, social donor, what is it? Think about the nature and the essence of donating. What we do is we don't just give money but we also interact, we leverage our connections. And so when we talk to, when we use the term social donors, that is people who give to fundraising events like auctions, gallows, golf outings.  So it's that huge swath of donors where there is a level of social interaction whether they're interacting with people or being asked by friends to participate and get. I love that. And that's gonna take us to the next talking point is really what motivates this donor generosity. And Kelly, I love that you mentioned the social donor because I've worked with a lot of organizations that sometimes don't see these social donors as true donors, right? They see them as event attendees. They're coming for the golf tournament. They're coming for the run but they might not be coming because of an alignment to the mission. So Carrie, what are we talking about when it comes to the motivation of donor generosity for social donors? Yeah, so when we ask this question, it's pretty interesting over the last couple of years what's popped up. The word ease, it was easy to do. It was easy to give, mission. I care about the mission. It's really important to me. And I trust the organization that they're making good use of the funds. Those are the three top generosity motivators. And when we look at while ease remains a top priority for today's donors, the presence of that mission, I care about the mission and the trust were the top two spots in 2023. And so there's this return to mission focus giving and the need for today's donors to make sure or ensure that the cause they support, the money is going to the right place. A lot of what we also have in the study and this is when folks start to dive in is we have this ecosystem that we created which is our five basic areas of generosity motivators. And that is outside of the mission trust and ease it's the impact that you would make. What is the money being raised for? Would it make a difference? And how quick was I able to make that donation? What's the immediacy of that donation? And am I connected to a person? But when we think about the five generosity motivators the three still remain the top three which is that ease trust and mission. So we're excited to kind of see the trends and the results over time. But again, donors really wanna trust that the org is putting the money to a really good great use. And I'll also say what I think is fascinating about this is you think about it. You think again, these ideas that were socially connected to the causes we support and the fundraising activities that we participate in. And you think about the top three motivators that Cary talked about, mission and ease and trust. If trust is at the center and this is all in the study I encourage everybody to go download if we talk about the generosity ecosystem trust being at the center but you have to understand the mission. So nonprofits thinking about how they're storytelling and how they're messaging and marketing their mission but also that it has to be easy. Think about your real life as consumers you trust the things that are easy you're not gonna go through a 62 step online buying process and be like I really wanna do that again the same culture tree in our giving and our giving experience and our expectations of our donors because they no longer take off their hat and say their consumer hat and say okay I'm willing to tolerate a very friction filled giving experience with a cause that I know nothing about. No, all three of those mission, ease and trust work together to enhance giving. You are so right. I know every time I go to a client's website and it becomes clunky and it's like you're probably losing some donors and so that ease the trust and the ease builds the trust very, very pointed on those facts. So thank you. Let's spin to the impacts, right? Which was one of the elements there but the impacts on building that donor trust what does that look like? And Carrie how can we increase this? Yeah, what was interesting is we specifically asked a lot of questions about what makes you trust nonprofits and we actually had some open ended answers that I think anyone will enjoy reading through as they download the study but overwhelmingly the responses that really related to the impact donors were talking about receiving annual reports magazines that show the impact and showcase testimonials about how different individuals were impacted by that giving or the local community activities were really important in building that trust what local activities versus the national organization donating money to the national org how does it relate back to local area and your impact in your community? A lot of answers included personal connections to those local organizations. So what personal friends or acquaintances or colleagues work locally with the orgs and really believing in the integrity of that cause and the people that are working for that cause and the impact that they're making that importance of being present and promoting in the local community was something that really stood out time and time again and just the open ended answers that came through and then what was super interesting I thought Kelly may agree as well is that charity navigator came up and it was researching playing a big part of trust and so kind of the fun fact was that there were a handful of people that mentioned having a good charity navigator score and now you would think, wow. Yeah, so out of the 1,100 social donors that are a wide census of the population the people that mentioned the few that mentioned the charity navigator scores they were from members of the boomer generation which again was super interesting that they were researching about that organization and really trusting in that score. Kelly, anything else you have mentioned here? Well, I think it's interesting you brought in the boomers so we slice and dice the data demographically by age and you do see some trends. You see that the older demographics, the boomers and matures, they do their research. They're online, they're looking. That's not to say that the other generations aren't and for those that are data nerds, fundraising nerds and love to look at data by demographic highly encourage you to jump into the research study but here's a fascinating thing. Gen Zs, they are motivated by the aesthetic, the marketing of the org and its mission and so you get your boomers who are online looking at charity navigator and you got your Gen Zs who are looking at how hot, how does that look? And there's just some fascinating information in there about what builds trust by age group. That is fascinating. Carrie, I'm a little shocked but I've shared the story before that I was sitting down with a potential major donor and they mentioned at that time the guide star profile which is now candid and so they were clearly doing their research and so from my personal experience of that like I'm only a little surprised that that's still happening, right? I refer to them really as those like charity watch dogs they're really looking at the data, they're seeing what's being reported, looking at that transparency but I can imagine every demographic Kelly as you mentioned, whether it's the boomers or the ones that really like the aesthetics, right? The marketing and the colors and everything just kind of make me feel good. There's a lot of different variations when it comes to that. Now what's additional differences when it comes to donor demographic and behaviors? You touched on this a little bit when it comes to that impact of trust what are the differences showed up in this study? There were a lot of different differences that everyone can hone in on when they read through it but I think as we return to normal and the return to in-person events in a pretty big way nonprofits have fewer virtual events right now and so the access to social giving is starting to narrow being narrow for younger, more diverse audiences and what I mean by that is we did see a drop in the number of black donors reporting participating in social giving and a fewer donors reported being motivated by events being welcoming and inclusive this year. So it's really important to be able to reach those audiences that can't come in person. So to make sure that they're inclusive and that we're gathering new ways to interact with them and engage with them because they did wanna participate when we were in the virtual online world. And so when you get back to in-person it's really trying to identify with the people that aren't able to come in person. And one positive of the pandemic I think was that there were so many virtual options it opened the door for social donors of pretty much all ages and all demographics and that's what we saw. So as we return in-person is how do we continue to find ways to engage those specific folks? And so one of the other thing to think about is the drop in the number of black donors being inclusive or welcoming. It's just showcasing the importance of what we gain during the pandemic and just being very intentional with inclusion, whether it's black donors or any donor for that matter is how do we make sure that everyone feels like they can participate? There were some counter negative drops in Gen Z and black donors and I'll let Kelly talk a little bit more about those as well. Yeah and what I'll talk about a little bit is something that we feel super passionate about and Kerry talked about it is that during the pandemic because of the virtual and online accessibility of fundraising because we all come together we saw an increase in access to philanthropy. We saw people of all ages, all races, all demographics being able to flock to giving. And so as we are returning to normal and we're seeing I think 87% of people said they had participated in some kind of in-person funders or these social donors. We wanna make sure that we aren't then throwing up barriers to giving and giving back all those gains that we saw from the inclusivity and missions during the pandemic. So that's a big, we don't wanna call it a red flag but it's an area that I encourage nonprofits as you read reflect how can we and are we continuing to make our giving accessible to all. One of the other interesting things is we also sliced and diced by urban donors. So you think about it, 80% we're talking about the US population in this subset 80% live in an urban area. So what do urban donors need? What are urban donors thinking? And what we found was a really super positive staff for all of the EU fundraising and settings that 45% of urban donors said they donated more this year and another 45% said they would give $500 or more in the next 12 months. So as we, yeah, as we look at things like retention and also giving averages starting to kind of level out or decline in economic uncertainty urban donors are a huge area that nonprofits can tap into. That is fascinating to me, Kelly and Carrie, you bring up a great point too. And again, we've produced over 800 episodes here at the nonprofit show. And so we've really had conversations with so many thought leaders like the two of you across the globe in these last coming up four years. And so one of the things we've seen and heard from many thought leaders like yourself is that, you know, those walls of giving came down. And what I mean by those walls is really, you know the geographic barriers. Like it wasn't so much just in your local community, right? Because we were connecting online. Some of us were even connecting more with family members and loved ones maybe than we did before because of that need to connect virtually many constituents moved, right? Like they relocated to another community. So we're really looking at and I know like how do we balance the in-person versus the we're never doing a virtual event again but we might be losing some of these supporters. So any suggestions on how we might be able to balance those two? Yeah, I'll just make a comment and then Kelly can follow up. I think that it comes back to those generosity motivators and it comes back to trusting in the organization and what kind of communication are you giving specific donors over the last couple of years and really trying to look at, you know that omnichannel marketing approach. How do I reach people in different ways that will speak to them? And if they cannot come to the event or they just don't wanna come to the event there are so many ways to give to an organization it's just how are we speaking to them? How are we communicating? How are we dripping on them or nurturing them as donors to make sure that they can see the value and trust that their impact's making a big difference no matter if they come or not to that in-person event? Great point. What about you Kelly, anything to add to that? I just would say the donors and it's in the study and you'll see it. We broke it even down by giving type like event donors versus P2P donors. They wanna mix in variety still. They, while 78% of them have flocked to in-person 30% of them are saying, I wanna mix. And here's why we think based on some of the other data in there, today's donors want choice and optionality, right?  You and I can choose what time you wanna pick up our Starbucks and where. They want the same thing in their giving. And so they're saying, give me those options. Let me decide as your donor how I wanna participate in-person, online, virtually. So I think it's important while we may, you know dread the words like pandemic and pivot that we still keep some of that accessibility left in our fundraising as we return back to normal. I love that. I love that the example you used of our Starbucks, right? Cause we can customize, we can pick up the time, we can choose the location all of that. Half pumps, half light whip, whatever you want. Yeah, that really resonates. And you're right. So how do we customize that donor experience for our constituency?  What were you gonna add here? I was gonna add, it is about being inclusive for those virtual attendees or virtual people that may not come, but also the people that are returning to in-person. Last year, their expectations were different than this year.  This year, what we saw in the data, which was super interesting, is people want more of that VIP experience. They wanna feel special coming back. 62% of the event donors said that it's very important or somewhat important that they have different ticket options. And so that told us, and about 30% of them purchased the VIP and the different options because they wanna come and have a differentiated experience. So it was super interesting, like the millennials, very big on like 42% of them were purchasing VIP. They wanna feel more of a VIP experience. Even different income earners or urban donors or men or disabled donors, they were coming back and purchasing those VIP tickets. So the experience for this year in-person, it's up a notch. So it's more creative ideas. It's more different ways to bring people in from a ticket purchase standpoint as well. Yeah, and I'll say- You need a lot to think about. I know our viewers too, they're like, gosh darn it, we have an event and now we need to think about VIP levels. Go ahead, Kelly, what are we gonna add? But I was gonna say, let's not get hung up on the fact that VIP has to equal extra expenses necessarily. It's an authenticity of an experience. It's the uniqueness of an experience is what they're telling us. So I tell my nonprofit friends, like don't freak out. Doesn't mean you need to go add another 50K to the budget. What you need to think about is, yeah, how can I have a varied level of options and how can I differentiate that experience and do it as we do as fundraisers, like creatively, but design on a dime? What I will say, here you quoted this stat. If you think about VIP tickets, half of disabled donors, 50% said they purchased VIP tickets. So when we talk about inclusivity, it's important to keep in mind that bulk of donors who are participating in in-person events. Well, that just speaks to the differences in the donor demographics and the behaviors. There's so much within this study and I know you both have been very generous on where we can find it, but tell us again, for our viewers and listeners, where we can get our hands on this, because I know this is going to be like their top reading list for this week. So where do we get our hands on the Giving Experience Study? It's super easy to find. If you go to our homepage, onecause.com, it is the lead resource on our homepage of our website and you should be able to easily download it right there. And we can also give you the link, Jared. So you have it to share out. Yeah, that would be fantastic. I love hearing this. This is something you've been doing for quite a few years now. It's very inclusive. You said 1,100 participants. Was that right, Carrie? Yeah, 1,100 donors. I love it. Well, you also put something up, something else brewing coming up here for us. So tell us a little bit about what's happening at the conference. Absolutely. So for all of you out there, we do a conference every year raised. It's September 11th and 12th in Nashville at the Country Music Hall of Fame. Think about that iconic stage. What we're known for it raises bringing some of the best content. Jared's gonna be there along with about 40 plus thought leaders in the fundraising space. Panels, keynotes, practical workshops. But I think what's most important is we've built a community that we've coined our fearless fundraisers. So if you want a great conference that focuses on amazing content, practical insights and incredible networking, come join us at Raising. You can see that at www.raise.com. Love it. Well, thank you so much. I'm very excited to be there and also excited to be broadcasting live the nonprofit show there as well. So thank you both. So Carrie, again, thank you so much. Carrie Wozniak, Chief Marketing Officer and Kelly Velazquez-Hague, Vice President of Marketing. Again, thank you both very much for joining me today, sharing the study with us, so many good insights, so many good stats and data points that we can talk about ad nauseam, right? I know I'm gonna go back and listen to the episode because there's so many good nuggets of information there. Again, Julia Patrick, thank you for creating this platform so we can nerd out with these amazing ladies today. I'm Jared Ransom, your nonprofit nerd. And we also want to extend gratitude to our presenting sponsors that allow us the opportunity to have such insightful, thoughtful conversations. So thank you to Blimmering American Nonprofit Academy, your part-time controller, non-profit thought leader, fundraising academy at National University, staffing boutique, non-profit nerd and non-profit tech talk. I like to remind you that these companies really their mission is your mission. They wanna help you do more good in, around and throughout your community. So do us a favor, check them out, but do yourself a favor and definitely check them out. They've got some good stuff cooking up. Kelly and Carrie, thank you for kicking off this Monday. As I mentioned, it is the last Monday of the fiscal year for many of our friends watching and listening. So again, thank you so very much. As we end every episode, we want to remind you, including the two of you to stay well so you can do well. Thanks again for sharing the study and we'll talk to you soon.