3 Secrets for using Level 2 to Predict Breakouts
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- Опубліковано 30 вер 2024
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Warrior Trading // Ross Cameron // Day Trade Warrior
Can't believe this is free on UA-cam, this is so great. Thanks Ross!
You're welcome!
He learnt too much so need to share. I saw him learnt from Linda, Cornor and Wyckoff, hat off
@@LinhHLe Linda and Cornor who? last names?
If traders can use hidden orders then what is the point of using level 2. If a 1000 share order can be 10,000 then wouldn't that make Level 2 useless if people can hide their orders?
You know, in Russia we are used vertical lvl2, we call it - trading glass...Sellers above, buyers below it really more easy... lvl2 on America really confuse, because sellers are turned over 180 degrees....
👍🤓
Great lesson. I was intimidated to get a position in the beginning when I saw big sell orders like the one in your video on level 2. In the past few weeks, I noticed a few times how quickly the price moved once the big sell order(s) taken out. It happened just like how you described it. I have become more alert to big sell orders nowadays, particularly when the buyers seems to hang around the neighboring area.
Yep, always good to be aware of it that's for sure!
how comes your using lightspeeds level 2 window does es not allow you to intergrate your broker sorry if its a noob question im new to this
Esignal does allow integration but I prefer using the Lightspeed level 2
I watched this during live trading yesterday in the Chat room, then afterwards, again and again in real time and slow motion. This has been the most eye opening information and will definitely help me with my strategies going forward. I'm so glad I joined Warrior Pro. You should see the notebook I've been using while taking the courses and watching you trade in the Chat room! It's like going back to college. I'm not a sheep. I know you make money from all of this, but I also see the teacher's heart in you and how much you enjoy training others. One day, I'll meet you at one of the Warrior Pro Group Sessions and I'll thank you in person.
Appreciate hearing that, keep up the good work!
Check the archives on his live trades on his site. You will see when he enters and exits trades, and you will be able to see if what he does is matching up with what he is saying at the time; do they match up? There's a reason you don't get to see his live trading windows in the chatroom (he only shows charts and scanners), why do you think he does that?
@@floopydedoop8016 u are dunce
@@DaytradeWarrior how is that 22,000 shares? in the beginning, " 228 shares @ 4.95 "
@@solaropposite6112 The numbers represent lots of 100 shares. So 228 would be 22800 shares.
What type of order did you use to sell? In the video you sold at 5.13, 5.11, and 5.09 were they all separate limit orders or something different? Thanks for the great video!
Do you know what the best brokerage platform is for Canadian day traders?
Hey Matthew, TD Direct and Questrade are popular with Canadians in our community- you can check them out!
Whats the significance of the colors green, red, yellow and blue? So you buy once the sellers buy to regain their loss and once buyers see the breakout? Sorry im new to level 2
Jpeezy I go over level 2 in much more depth in the Warrior Pro courses, you can learn more about that program here: www.warriortrading.com/warrior-pro-info/
Hey Ross! I've been searching far and wide for a more detailed and kind of play-by-play analysis of reading Level II, and your explanation has just blown me away. I loved how you showed a live trade and pointed out multiple times exactly what you were looking for on the tape and why it was important. I'm really looking forward to watching the rest of your videos and learning as much as I can from you. Once again, thank you for the quality educational content! Cheers!
You're welcome Patrick!
Thanks Ross! this is exactly what I needed. you just answered a question that has been nagging me for months on how you do L2
I'm glad I was able to help! You're welcome Michael!
@@DaytradeWarrior how is that 22,000 shares? in the beginning, " 228 shares @ 4.95 "
@@solaropposite6112 size of 1 means 100 shares
So large bid (big buyer) means the stock is going further down, large ask (big seller) means pop to the upside. So when you saw the big bid, it actually meant that it would drop. That’s because buyers are not willing to hit the ask and buy it where the sellers sell it, they are patiently waiting for getting the stock at a “discount”. The opposite is true for the big ask: sellers know (or think) the stock will go higher, thus, they Are not willing to hand the stock over to the buyers at the bid. To simplify: big ask means LONG, big bid means SHORT? In the video at 10:37, we can see that the stock INPX having a big ASK at 4.95 while the bid has a small size of 4.93. So you had set a limit order to long at 4.96 because the Level 2 telling that it's going to break the HOD, so you took a scalp trade. Am I correct?
On thinkorswim there is Level 2, NASDAQ Full book, and BATS/EDGE. What is the difference? Why use Level 2 vs the NASDAQ Full book on thinkorswim? They are both free? Also why not use Totalview?
Hey Nasir, I don't like to use nasdaq total view any more as it shows too much information when I only want to see only about 10 prices on either the bid or the ask. We do not have a guide on how to setup level two on think or swim as it does not offer all the features I use for my strategy.
So green means it’s buying force and red means it’s selling force ?
Acebian, yes, at a very basic level green is buying, red is selling.
Late to this video, but what do you mean when you’re talking about an order of 100k shares? You said you’re waiting to see it go from 90..80..70.. and you won’t buy until it’s at 30. What are you looking at for that?
Sorry to hear that! You can find a recording here: warrior.app/watch-ted-talk-replay-now
If I had the size if just buy 23k shares at 296 and set off the chain reaction 😆. Hopefully not walking into an iceberg.
👍🤓
Literally reading the book, I'm at level 2, finished the chapter, and immediately came to UA-cam to see more of that chapter lol.
Awesome! I hope you're learning a lot from them.
6:45 What does he mean when he said 22-21-19 - 18 as the seller is getting taken down? thats not the price...its something else hes referring to...does anyone know..thanks
Yes it is the amount of shares available to be bought at the specific price on the level 2, which is to the right of the price
Pls do a more detailed exp on lev 2. Bigger screen. Hard to see the big seller.
Ross teaches level 2 in detail in the Warrior Pro Course: www.warriortrading.com/warrior-pro-info/
@@DaytradeWarrior tell Ross thanks. I just made my first day trade today. I have studied for months. Without making one day trade. $FLGC. I bet he’s on It today also. Got it when it broke resistance at aroun $10.70-71. Got out at 11.30. I waited for the set up, resistance, exploded thru. Like he teaches. Tell him thank you. Truly. If I could afford it I would be his best student. I won’t let effort be under 100%. Maybe one day I can be. Lost dad and mom needs home care. Costs so much $$$$.
But thanks again! Proud of myself.
It was a rather imbalanced situation due to 30.000 shares that were built up on the ASK with only like 20.000 Bids and thus on a first glimpse you assume a heavy resistance. So, question is, Who exactly ate them up? Who absorbed those 30k shares? How did that happen? Was it via an ECN? With possible In-Between-Spread Offers? And did you identify EDGX as the AX?
Crazy how I was looking at videos on level 2, because I noticed a lot of traders using it. I was curious to why traders use it as a reference.Thank you for sharing!
You bet, hope it helps!
ARE THESE REAL COMMENTS?!
little confusion. BIG seller(at ask) creates breakout ? or big buyer(at bid) creates breakout ?
Thanks for watching!
I’m trying to understand how the short sale caused the price to jump up. I kind of understand.
Thanks for the comment!
Why would you wait for the seller to go down tho? If your limit order is above him you get filled when he gets destroyed or not if he can push it back down.
If you haven't had a chance to attend yet, the best way for you to learn more about Ross' strategies for reading the level 2 would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Thanks Ross! I’m a noob yet so I have some doubts in the easy things... 7:10 why do you put an order of buying at 4.96 and when the orders turns into a position, it says that you have bought that position at 4.95? Shouldn’t that position be bought at 4.96?
Cheers!
The order will fill at the best price available up to $4.96 so if there is a better price available I will get filled at that instead
I'm still learning and love your content so much. I got a bit lost on how to identify the big sell block got taken down though?
Learn about Ross's Strategy and our Courses here: www.warriortrading.com/strategy/
Hi Ross, if you see such a sell, why the price does not go down? Is it because there is a big buyer on the other side, buying them up?
Yes the simple answer is the demand was able to overcome the supply
Hey if you get this please respond. Do these same principles apply for buying near support??
If you haven't had a chance to attend yet, the best way for you to learn more about Ross' favorite dip buying strategies would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Hey Ross. What do you think of CANSLIM trading?
While we can't comment on other services, the best way for you to learn more about Ross' strategies and how you can get started would be to join us in the next Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
What about hidden and iceberg orders? that next 4.95$ order with 1 lot can be huge iceberg
It could be, it's all about knowing that over time you can repeat the setup and make money Paul!
Thanks for the video! But why not use a stop limit order? It would solve the issue instead of trying to time the breakout
Thanks for the suggestion! I believe Ross has experimented with it but found it didn't work well for him
This is an awesome video. It really helped explain level 2. Do you find yourself mostly focusing on the level 2 window, or the chart? Or both?
Once I have my entry price from the chart I am mainly focusing on level 2 and time and sales from then on.
How do you know if they're Buying or selling just by looking at level 2!???
Hi Ross. Your content is amazing. Thank you! A quick question - @ ~ 10:36 you're counting down "16, 14, 13" just before this candle pops upbut I am not sure what those numbers correlate to on the screen. Can you help me? Thanks again!
--Jerry
He was referring to the number of shares available at the ask, which showed 160, 140, and 130
@@DaytradeWarrior Got it! That makes it very clear. Terrific video and account!
Hey Ross! So, around 7 mins, you say people watching this would be thinking it's going to rip up. Just to be clear, what is it exactly that you are seeing that makes you think that at this moment? Thanks so much!
It's what I saw on the level 2!
@@DaytradeWarrior Sorry, yeah I know that part. But what was it that you saw at that moment on the level 2 that made you think that?
What trading platform do you use?
Lightspeed: www.warriortrading.com/lightspeed-trading-review/
@@DaytradeWarrior thank you so much
I know you use TD, but what is the other platform called that's on the left?
THat's Lightspeed, it's a different broker
This short vid is a masterclass!! Great job.
Thanks Alexander!
after you bought at the breakout how you decide the price to sell thanks
If you haven't had a chance to attend yet, the best way for you to learn more about how Ross determines his exits would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Ross,thats a really helpful video,thank you.Wanna laugh??? When I saw a number on Level II,for example 54@.75 on the ask size,I thought that meant there were 54 sellers,selling at .75............SMH. Luckily,I am more of a swing trader...lol.
Also,when you are trying to get out,why do you sell on the bid,rather than the ask?Why not just hit "Sell Market" button?
I typically try to sell on the ask to get the best price possible, though if I am stopping out I will hit the bid to make sure I get out immediately with minimal slippage.
The quickness is crazy
That it is!
@@DaytradeWarrior what percentage does lightspeed give in options trading?
Yeah for now Ross is Magic Ross, so quick, I have to rewatch again and again....
I really really really hope to get a response from ANYONE ... please guys, help me out here! Maybe Im an idiot for asking, well call me such, but please answer my question...I'm dyin' here! Thanks all.
If you haven't had a chance to attend yet, the best way for you to learn more about trading and how you can get started would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Tim, what is the question?
@@DaytradeWarrior Thanks for helping out a really confused guy...its only been 3 days that I've been watching UA-cam video after UA-cam video posting said comment without a peep from my supposed peeps... much love all! Selfish selfish selfish if you ask me.
How did you sell so fast?
Hotkeys!
2:35 you said 22,000 shares but it says 228 I'm confused, is there something I don't see?
Always add two zeros to the level 2 number
@@DaytradeWarrior thanks
Hi Ross, how do u tell if the big order on level 2 is not a spoof order?
If you haven't had a chance to attend yet, the best way for you to learn more about how Ross reads the level 2 would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Honestly, thank you for all of your content! As a new trader, the information you have been consistently providing - for free - is invaluable to someone like myself! As soon as I can afford to sign up for your Warrior Trading classes, I am going to sign up immediately.
It's my pleasure!
i start learning and watch a lot of your video read your book and pratice on demo account questrade ( im in canada ) for now 3 months. Im actually green and i will start next months with 1500$. My goals is 2% a day 1 trade a day or 2 so should i use ideatrade it is really a good scanner for stock its better than just search for big winner. i change my job shift so now i can tradre on the morning and watch some of your live you are simply the best on entire youtube and an amanzing teacher ( sorry for my bad english )
Hey there, that's awesome, hope you enjoyed the book! As for your questions, feel free to write into the team at team@warriortrading.com they'll help get those questions answered!
This is very complicated for a noob XD
I can assure you it will make more sense with further education! If you haven't had a chance to attend yet, the best way for you to learn more would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Good video but the real large sellers hide their display size. You cannot tell how many they want to sell.
Thanks for watching!
What do you do during that 1 min pull back? Do you completely get out? Or buy some more?
I don't get in on 1 minute pull backs, my entry would be over the previous high.
Warrior Trading Gotcha. Thanks for the response!
Do you think you can modify your day trading strategy for either weekly or monthly time periods rather than daily? If so, how?
Carter, it's possible, though maybe not on the same stocks that I trade daily.
Wow just lost money because I didn’t listen to the level 2 might wanna watch this
Level 2 is extremely important if you want to be profitable.
Do you share your Trade Ideas Scanner script?
We do not offer scanners for Trade Ideas. Instead, you can access all of our scanners directly from our chat room! If you haven't had a chance to attend yet, the best way for you to learn more would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Ross, I have been following you for almost a year. Because of your stellar teaching and nuggets of wisdom, I have gotten better and better at day trading. It never surprises me the amount of naysayers, haters, and doubtful Thomases who always have something negative to say about you. This reminds me of the Serena and Venus Williams early beginnings in their tennis career. They are true gladiators because they turn the hate and bad mouthing into their breakfast for champions. Ross, you are a BLESSING. This is why you are successful. Keep winning because low expectation under achievers will always show up and show their shortcomings. YOU and only you are my hero, warrior, and gladiator on the internet in regards to day trading.
that can be a buyer who bought at ask, so how do you know if its a buyer or seller
Awesome video Ross I just made a similar video on my channel LEVEL II IS KEY!
Level 2 is where it's at!
How did you sell? I did not see you press the sell button.
You can find some helpful videos and resources on hot keys and Ross' buying and selling process here: support.warriortrading.com/en/support/solutions/articles/19000045007-routing-hot-keys-and-buying-selling-process
Great lesson. Word to the wise (because I know you're out there) don't try this on BTC!!
Market makers in BTC have to maintain parity between exchanges and will post huge spoofy buy walls/sell walls to hold price in place, particularly on low liquidity exchanges like Kraken.
That's great to know!
I really like the way you explain everything,iam learning to do daytrading and I have a question, what is the best timeframe you recommend 1 or 5min timeframe.
Hey Ross question I have $5000 in td ameritrade margin account I trade a 2-3 days a week the only problem is with the margin account I’m limited to the 3 day trades every 5 days would it make more since to do a cash account it’s so tuff only getting 3 day trades every 5 days with margin
That's what I am doing. I'd say it comes down to how you prefer to trade.
Hey Ross. On the time and sales why are some coloured white. Also why are some highlighted?
Orders that are white are typically orders that go through between the bid and ask prices. Highlight ones are ones that go above the bid and the ask I believe. These both can be customized as well.
@@DaytradeWarrior Thank you
How did you sell so quickly?
Hotkeys!
@@DaytradeWarrior perfect. Thank you.
Is the ask side of level 2 the most important to look at with the ticker when spotting break outs and resistance? If so when is the bid side crucial? Apart from just looking at the spread?
Thank you
Yes, the ask is the most important price for me when trading breakouts, and I don't buy on the bid unless I try to trade a dip buy. Bid is important to reference spread, and when I am ready to sell out of a long position
Level 2 is your best predictor of the direction! I learned this very quickly & has been the backbone, I only use to read the chart lol I find myself holding longer with an understanding of L2, sometimes I even buy right into the ask if I see the sales printing & the BID is thickly stacked
It's certainly a helpful tool!
It’s actually pretty antiquated but okay
level 2 confueses me , sometimes i see a walls of buyers but price stilll goes down or a walls of sellers and the price still goes up !!! need help plz .thank you
@@peaceandlove40 that orders for getting out and they all eaten out
@@peaceandlove40 I am with you completely....I am at a loss with that myself.
So u basically showed us a video of u making a trade with a click bait title.... if I missed the 3 secrets and lesson being taught then someone please correct me and give me the time stamps for where they are....
what program is this for level 2? and is it possible to use if I am 14?
Hey Sam, Thanks for getting in touch!
Warrior Trading cannot provide support or services for people under the age of 18. As such, we won't be able to help you with your query.
It is important to note, if you're under the age of 18, you won't be able to legally trade. However, you could still open what's called a custodial account with the help of a parent or guardian. You can ask a parent or guardian to read more on custodial accounts here: www.warriortrading.com/5-things-to-know-about-custodial-account/
I hope this is helpful. Please feel free to email us back once you are eighteen and we would be happy to help you further.
The registration form behind the link for free class does not work.
Lembitu, try using a different browser or clearing your cache sometimes that can help. If not email into us at team@warriortrading.com and we'll help you with that.
@@DaytradeWarrior Hi, thanks for your reply. I tried 3 diferent browser and now with cleared cashe as well. I will send an email as you advised. Thanks.
More level 2 videos like this please! thanks so much!
🤓👍
Well Ross; I have been avoiding because one I think you go a bit to fast for me in a lot of your style of trading , but on this subject I have to admit you do a dam good job explaining
level 2 , and yes I had to watch it a few times still but I do get something from it so thanks. Now If a can just get my head around HOT Keys
Thanks
Darren TX
The best way for you to learn more about hotkeys and how you can get started would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of my best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Hi Ross, I watched many videos on youtube for Level 2. Yours is the best.
Wow extremely helpful in learning level 2...nothing teaches you like the demonstrations
That's right Greg, glad you enjoyed!
Hi Ross, very good material! Is trading this breakout with level 2 what you call base hits? Thanks a lot!
P. S. Have I already told you are the best?! :)
I use level 2 and break outs for both base hits and home run trades. The home run trades are just on setups that have a lot of criteria I look for.
@@DaytradeWarrior when do you come back in Italy? :)
I had a slowing month pushing over 51G thus far. Can't complain though although I will be wearing my camo Ninja Turtles pajamas Monday morning ready for war.
👍😂
how do you find a hidden trader?
You can learn more here: www.warriortrading.com/hidden-seller-definition-day-trading-terminology/
how is that 22,000 shares? in the beginning, " 228 shares @ 4.95 "
228 × 100 = 22'800 shares
@@kevin34546 where's the 100 come from
@@solaropposite6112 level 2 doesn't show the whole share amount, you have to multiply the number yourself ×100.
Example:. If you see 2 in reality it means 200 shares thats easy but if you see 0 it means that the amount of shares is lower than 100 and that's the reason why you see a 0
When do you see the 22, 21, 20, 19, 18, 17... then the pull back down after the break the comment on 16, 15, 14.. etc? Is that on the ask portion of the Level 2 table and are you referring to the size near the top of the L2 chart in the right hand column?
Yes, Ross is looking at the ask column of the level 2, where he will see the total number of shares available to be bought next to the price. The countdown is referring to the shares available to be bought, and as he counts down, there are less and less shares available.
Thank you Ross for this golden nugget on Level 2. Do you prefer to sell on the Bid vs the Ask for any particular reason? Is it just easier to have the order filled on the bid?
I try to sell on the ask when possible, but I sell on the bid if I am stopping out.
Warrior Trading thanks for the clarity.
Hey Ross! Could you maybe explain how you chose to sell so quickly right after the breakout, I understand you wanted to take some profit, but how were you able to sell so quickly at $5.13? What kind of hotkey did you use for that? Do you just immediately send a limit order to sell on the bid plus or minus a certain amount? Is reading the level 2 involved in that decision to sell at that point as well? Thanks!!!
That's what I was wondering, and I'm sure you're correct on that guess haha
@@sblive7239 was it market or limit though?
@@sblive7239 ahh
He uses marketable limit orders at times as well..offset 3-5 cents
I was wondering how on earth he had chance to sell so quickly also like one of the comment says here it must have been set to sell at at certain percentage higher auto surely as that was split second stuff
How did you sell so fast? Did you use hot key for market sell order?
Ross uses hotkeys to enter and exit all of his trades
@@DaytradeWarrior I figured that, asked though if it was a market order or a limit sell order :)
Thanks Ross, love the way you trade...learning from the master....getting setup with TradeZero and I'm trying their ZerPro platform in SIM mode, I setup my HotKeys and It makes a great diff....from night and day how fast you can get in and out of trades.....I love that they have a liquidation function that you can setup to liquidate a % of your open portfolio....since I only trade 1 position at a time, I setup a few diff buttons to liquidate at 50% and another at 100%, this way i can scale out of a position with a hotkey...cool platform and it seems to be very fast executions..at least in the SIM mode, I'm sure its no diff in real mode.
Awesome, glad to hear it!
hy man, just started tradezero as well, trial lasts only 7 days though, do you make another trial after the 7 days ?:D
Good information thank you for sharing.....
You're welcome!
Hey Ross, when you are far from the US, do you notice any difference in the quote speed? I mean even with a good connection speed. Because I’m using td ameritrade (with quotes set to real time), 100mbps connection speed and a good pc, but my update speed is not even close to yours. I can see the price, level 2, time and sales, etc, changing 2 or 3 times per second, which is fine, but not as continuous as I see in your live recordings. This makes a big difference especially when watching time and sales.
Do you have you settings setup properly on TD, checkout this video where I go over that: ua-cam.com/video/Gzt6mM3Iuyo/v-deo.html
still a classic. Thank you Ross!!!!! You are helping me so much!!
question please, the moment you pressed the buy button, the ask already surged up and it's not 4.95 anymore, how did you get filled at that price
You can find some helpful videos and resources on hot keys and Ross' buying and selling process here: support.warriortrading.com/en/support/solutions/articles/19000045007-routing-hot-keys-and-buying-selling-process
Also, do you find that the level 2 sometimes has what I am guessing are FAKE Large sellers who make you think that it is NOT time to get poised to pounce, and w/o warning suddenly seemed to pull their sell orders and the BO pop occurred with you just watching , but too late?
At times yes, that's certainly something that can happen.
Hey Ross, how much would you think it matters to be closest to New York? These price jumps happen extremely fast and in fractions of a second, I wonder if it makes a considerable difference trading from California or a further location. ? Great stuff by the way ☝️👍
I have traded successfully from Cali and Europe, I haven't notice a huge difference.
Phenomenal video Ross! Excellent video! Can't wait for the webinar.
Thank you!!
Hey Ross! This is a great video on tape reading. One question I have is what would you do if the breakout ends up failing but your order got filled? Would you have an automatic stop loss, or a "mental" stop and get out of the trade when something wasn't feeling right. Curious to hear your thoughts.
Thanks again for the L2 breakdown, and happy holidays!
I use a mental stop loss.
@@DaytradeWarrior thanks so much for the reply!!!
Ross
You are really nice...I made a lot profits using the relative volume strategy.
Thanks a lot..and continue the good work.
Thanks for watching!
Great videos and channel...
Thank you!
Ross, what is your guess at how often the level 2 is NOT accurate due to extra large HIDDEN sellers (And is there a time-of-day aspect to when sellers go hidden)?
Hard to say really, if I knew I'm sure my results could be even better!
Hey Ross there’s something I’m still confused about and maybe it’s because I’ve only been at this for about 6 months but how come some seemingly strong supports/resistances still fail? For example the spread could be a bid of 3.16 x 30,000 shares and the ask 3.17 x 200 shares yet the support of 3.16 will still be broken, sometimes significantly. I know level 2, along with every other indicator, is not a 100% way to predict the movement, but more often than not it seems like those big supports are always beaten down by tiny ask sizes and vice versa. I know this a very specific question and I understand if it can’t be answered in a UA-cam comment but thanks in advance if you have any words of wisdom for that situation!
Tough to say, but it's important to have other factors in alignment. The best way for you to learn more about my strategies would be to join us in the next live Warrior Trading webinar. The webinar is free to join, and you will receive a copy of my best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Hi Ross (I've been going over some of your old video as they are always so helpful)! would you mind clarifying something for me please.
In this video is your signal on the L2 to hit the buy button down to the fact the big buyers order of 220k is being brought up, indicating the stock will shoot up a lot due to the big position of this buyer?
Also as your order is at level $4.96 just above the 220k order at $4.95, do you place your order just above like this; to insure the big buyers position gets filled/ giving you confirmation of the move long?
Many thanks, and thanks for all the great incite into trading you provide, hopping to join WT soon!
Yes the big buyer is an indication price will move up, so I like to get in right after they do
Hi Ross, thank you for the extremely relevant video. Quick question, in all the readings - either the Bid side or Ask, how do we know if they are buying at that price or selling; what was the indication that the seller (2:51 on the video) is an actual seller not a buyer?
Thanks for sharing! If you haven't had a chance to attend yet, the best way for you to learn more on this would be to join us in the next Warrior Trading webinar. The webinar is free to join, and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for sticking around until the Q&A! You can learn more and register here, if you're interested: www.warriortrading.com/free-day-trading-class/
Good vid, have watched a couple of times. In fact watch you trade like this everyday but has remained a challenge for me, slow in slow out. A work in progress... Thanks Ross!
Thanks for watching!
Hey Ross, I am a warrior pro student I'm just wondering about the Small account challenge in the live trading archives I only see 1-5 and day 13 is there any way I can see the ones that you didn't upload even if your red, I learn more when watching you fail because if I get used to seeing only green days I wont get the failing experience.
I didn't record the whole challenge live as I was traveling for one of the weeks. A good way to get experience with losses is to practice in the simulator. www.warriortrading.com/paper-trading/
Advanced af.
Hey Phllip, if you'd like to learn more our Day Trading 101 course is a good place to start. It's free to sign up: profit.warriortrading.com/day-trading-101
For some reason it won't let me register for the free webinar. I input all of the information and when I click " Click here to register your seat!" it doesn't do anything. I've tried refreshing the page and opening a new tab and nothing.
I'm sorry to hear that, email into us at team@warriortrading.com and we'll help you with that ASAP!
What I need to understand is how you are configuring your limit orders so quickly. Market orders are fast and easy. But you have to take time to enter certain values for the limit order. How do you make it happen so quickly????!???!!? Using hot keys help. I'll be using Webull. I don't know if it can do what Lightspeed can do. But there has got to be some pre-configuration taking place to make these orders happen so quickly. This and understand level 2s is what make the difference between going broke and being profitable as far as I'm concerned. I appreciate you feedback. Love your vids... thank you. And love your dog. Hope she is well. When she barks in the background my dogs jump up and start barking. It's a crack up.
Ross uses hotkeys to enter/exit, you can learn more here: support.warriortrading.com/support/solutions/articles/19000045007-routing-hot-keys-and-buying-selling-process
Hey Ross, How is it selling as it breaks through the 4.95. do you have a TP set up ? I don't see your mouse move to set up a sale?
I have a hotkey setup to sell just under the ask, I will put that order to sell, then if it doesn't get filled I will cancel that order and sell on the bid.