Level 2 Trading Secrets (How to Read the Tape Using Time & Sales)

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THE KEY METRICS
1) Is this stock in play now?
Volume traded
RVOL
ATR
Net Change - from prior close and from open
2) The next step is the chart, what is the Set Up?
What is the price action telling us?
What levels on the chart seem REALLY important?
3) Then it’s the Time and Sales
How is it printing?
-- Speed
-- Slow
-- Fast
What size is it printing?
4) Then Level2. What does that look like?
Thin and spready?
Thick and heavy?
Choppy?
Fluid?
This checklist seems to be a long one, but in reality it’s less than 3 seconds once you practice it.
So take this process and practice it every time you pull up a symbol.
#tapereading #level2 #scalping
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