How to use Level 2 and Time & Sales as a Momentum Day Trader
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- Опубліковано 30 вер 2024
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Warrior Trading // Ross Cameron // Day Trade Warrior
you know what dude i really mean this deeply good freaking video. YOU took the time to actually try to help us and give us information that was useful instead of going through and talking about how much your students made by watching your lessons and i really appreciate that. i can promise you that if you take the time in more videos i will buy your stuff on the website no joke. i love it.
Thanks so much Robo! Enjoy the videos!
I've got to jump in and give kudos. I have been looking for something on level 2 that would actually teach me to understand what it is. You sir, have done that job better than anyone else. It literally kept me from losing money on an entry when I noticed a market maker with a 10,000 sell. Dropped 50c, but not from my pocket.!!! Great teacher!
Abraham yonas etrade pro is great
It seems like that's all Tim Sykes does, just brags about how much money he has made and how much his students have made but doesn't seem to offer any real educational material.
Best damn video I have seen yet on explaining this!! I have saved this video and will be watching a few times until it really sticks. I would love to take your courses!! Thanks for your time man!👍🏻
lol i just heard him say his daily profit goal was $500... now its $10k.. rly cool and motivating to see that
Can you tell signals that trade isn’t vailed anymore , to exit before the trade go against you :)
👍🤓
Good video, your Level II window is informative to some extent, yet, to rely on that (window) for true supply/demand insight into a security can be a dangerous habit. Unfortunately, dark pools (Institutional Market Makers) exist that have large Buy/Sell orders that never show up on Level II windows.
I watched a bunch of level 2 videos and time sales videos, this one by far made the most sense in understanding the concept. Great video! Thank you!
But you're looking at the risk/profit ratio from the chart AFTER the trade happens. How do you figure the risk before it happens?
Hey Victor, Risk management is something that we teach as a part of our Warrior Pro Course: www.warriortrading.com/warrior-pro-info/
Thank you I found this very useful
We're very happy to hear that! You're welcome Maureen!
also.. looking at Level 2.. a big buyer/seller can just pull their order, faking people out. making people think there is support/resistance.. so they buy, then when enough people are in, they cancel the big bid and they go short, trapping longs and visa versa. so that support/resistance is not set in stone..
many
people using stop loss would perpetuate the problem
Unless you are short selling then your pocket are stacked
You contradicted yourself between Bid and Ask. If I was bullish, do I look at the Bid or the Ask?
If Ross was bullish, he would look at the ask
Is it better to sell at market price or put a set price in .... I always sell at market scared it will blow through my stop loss order
Ross likes to use limit orders only
Does Merrill edge have level 2 and the can it use DAS Trader for the hot keys?
Yes it does and you'll have to email them to ask about DAS trader hot keys.
Could really use more info on hot keys and best set up for in and out fast and less slippage.
👍🤓
Thank you very much Ross, great video, as always!
You're welcome Olivia!
Are market depth charts not a thing in the traditional markets? I got my start in crypto, and all the exchanges have depth charts and theyre honestly an amazing way of displaying the lvl 2 data.
I think TD Ameritrade uses something similar, however, I prefer standard level 2.
@@DaytradeWarrior Do they? Ive never seen it on the TOS platform, and it would be sweet if they did.
This is so well explained, what a great teacher! Thank you Ross.
This video is just perfect! Finally I understand
Thanks for watching!
Watched this for the second time...This is a great video..and I've been trading for over a year now..and I still return to it..thank you..
I'm happy to hear that! You're welcome!
@@DaytradeWarrior I am back.. you said "Shorting the first one minute candle to make a new high" @2:09 Did you mean the first one min candle to make a new lower high?
13:56 I think he meant when it takes place on the BID it's a sign of weakness. And when it takes place at the ASK it's a sign of strength. I was confused for a second.
I agree however I wish he would clarify this as this particular component really messed me up. It would seem, to your point, that when BUYERS buy at the Ask Price it would be a sign that SELLERS are unwilling to sell at the lower Bid price.
Yes you're right. When it takes place on the BID or lower, means that traders are trying to jump out of the trade asap.
Thank you!
I can't be the first person to make the Bob Ross (Cameron) connection, am I?
No, but I enjoy the comparison!
@@DaytradeWarrior your vids are so complex yet so comforting :D
Im really respecting your "order of operations" for analysis, chart, level 2, check spread, check float, check for news/ catalyst
Glad you enjoy it Jesus!
thanks i understand much better how to use level 2
Happy to help!
What's a good float and a good price range to look for day trading? Not swing trading.
Paul, I trade stocks between $1-$10 dollars and under 25 million share float.
@@DaytradeWarrior thanks man. Is there a good screener that allows those parameters? Also, what's the simplest way to find high gap stocks?
There is so much wisdom in just this one video. I wish I had started trading HERE and then progress. But, then again, I probably would not have known what he was talking about. But now I do, yet really need to watch this vid over and over. This vid alone, along with knowing the time frame continuity on the stock you are about to trade, is really priceless. Very generous with your knowledge! Thank you!
It's my pleasure!
Great Great Great Videos!!! Learned so much over that past few weeks. I've been watching your videos over 3 hours a day trying to absorb as much info as possible. You are very informative and seem down to earth, not trying to brag about your accomplishments but helping people rise to your level.
Cant really escape malicious AI. It can beam itself....
It's coming weather we like it or not!
@@DaytradeWarrior Hi there, fellow trader. Would you like to collaborate on few market ideas?
Wondering how much he made a year back then
👍
Don't recommend Speed trader. Their customer service is terrible. I went long on shares that were plunging in price, and I could not liquidate on my end on my android phone, das mobile trader just froze. So I called customer service to assist me. They confirmed the position was liquidated and the next trading day, it turns out I still had shares and it resulted in a 10K loss.
Sorry to hear that VFX! We have heard some reports of not so great customer service over there.
Does speed trader pay you for advertising? Lol
Paul, lol no they sure dont.
sir very good and clear explain, about level 2, time and sales. i always watching level 2 only but i had some doubt but u cleared very will. i am not interested in indicators, so kindly post some level 2 videos like this. THANK YOU SIR.
this is incredible, thanks!
Quick question Ross. when Green orders come through on the time and sales is that a good thing? Bcuz you mentioned the big seller. So are the Green orders a plus for long traders ?
correct me if I'm wrong but I'm new to trading, but is level 2 also good with volatile stocks, u know like everyone is in it moving price up and down so quickly and level 2 flashes like crazy, seems impossible to read.
The thing I really appreciate about Ross is he really just lays it on the line . . . he gives good quality information in a very clear and concise way and I always find myself coming back because of the quality and the clarity . . . it's just about the best there is to be honest!!
Glad to be able to share it with you! Thanks for watching!
Thanks for this. I've been stuck in the same stage of paper trading for 1 week + right now and all the answers were in the level 2 data which for some reason I choose not to try to find what it is. Lesson learned.
ross what is the difference between the bid ask price and the last price? Why wouldnt I just buy and sell at the last price since that is what I am seeing on my chart?
This helped answer so many questions!!! I have been watching a lot of your videos and in each one something hugely important just 'clicks'. Amazing video! Thank you.
Thank you for posting this awesome informtion. I did not understand level 2 and time and sales. Now i do. Thank you!
Glad it was helpful!
Another very informative video. Thanks for sharing!
Thank you for this amazing video lesson on Level 2 Ross. Quick question, when analyzing the Level 2 in Speedtrader have you noticed your long limit orders having a greater chance of filling if you are closer to the ask price? Or do you normally see orders filled around the midpoint as well?
What do you mean by risk
On any given trade there is downside risk. I teach courses on how to identify setups and manage your risk when trading. To get started with Warrior Trading, I highly recommend coming to our next webinar! It's free to watch and you will receive a copy of my best-selling eBook "How To Day Trade" just for staying until the Q&A! Sign up here: www.warriortrading.com/free-day-trading-class/
Thanks Ross. great video. I might have to watch it a couple of times to make sure everything your saying here soaks in properly because this is really really good stuff.
You know what man, You are a really good guy, May God bless you man... I am going to join your warrior trade team pretty soon. Thank you for your time.
Thank you! We're excited to have you join the Warrior Trading community!
Good stuff. Good guy here.
Thanks!
Great explanation. Gotta drop a comment and say thank you
Hello, I have a problem, I looked in several videos but I can not understand exactly when we can analyze that the price will go up or down with level 2. I could see the support or the resistance but I still can not identify the rise or fall of the price. Thanks for your help
Hey Junior, Ross answers trading questions like this in his live webinars. 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/
and you speaks clearly
Thanks for watching!
Is it possible to create a software or a program which buy at the lowest price of the bid and sell it to the highest price of the ask keeping an eye on the breakeven point and generating little little constant profit...??
GREAT VIDEO 👏👏👏👏👏
Thanks Erin!
great content I appreciate that your giving us these great lessons on trading
Thanks for watching!
You are the best Ross!! Sincerely you took the time to teach really well and explain all this stuff clearly. Thank you so much for all your effort and dedication Ross. God will help you growing your 2017 small account because you help others succeed.
Thanks Brayan!
When using Level 2 and Time & Sales, You mention that larger orders are signs of support or resistance. How do you know if this is a bot, an algorithm, or a trader that might have open limit positions on the buy and the sell with the intention of pulling the rug out and removing either the buy or sell sending these low floats as a sling shot in the removed level of support/orders? Or is this not something that happens commonly? Thanks.
No way to know for sure Brett, however, you can get a feel for level 2 and time and sales with experience which helps!
Hey Ross, I loved this video, and the way you present it. It wasnt like a powerpoint, it felt like a friend talking and discussing the trades. It also REALLY helped when you reiterate and repeat a lot of the key messgaes, to help us understand it better. Sometimes presentation type videos are less absorbed as we are less 'in it' but these types of videos are really useful! keep up the great work mate!
hi! Thank you for you rcomment! I really appreciate it :)
Hey I just wanted to thank you for explaining this in so much depth. I was able to make $30 today on my small account just by reading the level 2 for PAAS early this afternoon. Once I saw a large seller in the ask column during my short order I got out and the stock started to rise when they were all bought up. I got out in perfect timing! More trades like these and I'm well on my way to making bigger orders.
Thanks Ross :)
Good morning Ross, just had a quick question about a statement you make starting at @ 10:06. You say that a large buyer in level two indicates a level of support and that they are propping up the stock; however, then @ at 10:58, we see a some what larger buyer and the price drops from 48.90 to 48.60. That he got filled and the stock dropped, because his level of support wasn't there anymore. So my question was if a large buyer actually indicates a level of where the price will stop at, or more so that the price will head in that direction. If a buyer was aggressive, indicating a bullish direction, he would just be putting in market orders to get in right away, which would indicate demand, brining the price up. However, if the stock direction is bearish, he can set up a large limit order lower then the current price because he knows the stock will drop to him. He is not willing to pay the premium of the current price.
So I was hoping maybe you could tell me if I am either misunderstanding you when you state that big buyers keep up the price, and big sellers drop the price, or if In fact it is the opposite, that a big buyer in level 2 indicates the price will be dropping, and big sellers will bring the price up. As you yourself state in your own example at 10:58 that a large buyer was in level 2 and all the sudden the price dropped 30 cents.
Thanks so much and have a good day,
Hey Tymek, That's a good thought on if the buyer was really aggressive they would just get in at market price, they are being a little more conservative trying to buy at the bid. And perhaps that is a sign of weakness in a way. If it's a short seller covering an order, they may be trying to minimize damage of the loss by putting out the buy orders on the lower side. I can see it both ways, however typically, I look at that big seller as providing some level of psychological support, as long as the order stays there. If they keep moving up the order, then they are propping up the stock, in that sense. I hope you have a good day too!
this is hands down the BEST L2 and T&S Video out there!! Thanks Ross.. btw Im a Pro Warrior student as I write this!! And anyone looking for a valid, legit course Ross and Warrior Trading is the way to go!! Thank you Ross!
Sorry for the very late reply, but thanks for sharing! We're glad that you are a part of our community!
17:46: that's an interesting way of saying "Big moves" :)
Rune Wennesland B I G B O O B V E S
listened to it 3 times just to giggle more each time!
PRAA was moving super fast in the Level 2...as a beginner i'm going to hone my skills on something a tad thicker, but not quite Sprint. Great explanation again Ross !!
Thanks John!
Thank you so much man. Videos like this are worth thousands of dollars.. and you give them away for free.
Really thank you!
You're welcome Mario!
Thank YOU!
Thanks for watching!
waooooooo this explanation is more clear than the water that I was drinking right now!!!!! A+
Can us guys in the U.K. learn to trade with you guys? By far the most genuine guy and I don’t like the look of anyone else.
Yes absolutely! We have students taking our courses and trading with us from all over the world. If you're looking to get started, sign up for our next webinar, you can do so here: webinar.warriortrading.com/signup
Thank you so much for this video! I learnt so much.
Awesome Emma, really glad you enjoyed!
Is it safe to say that when a buyer's request has been filled stock prices go down or is it just in this example bc of the amount of purchasing power he had?
No way to know for sure JesusH, it's all about having a strategy and managing your risk.
Thanks for uploading.
You're welcome!
Thanks for this.... good guide to this seemingly complicated little window I see so often. Great stuff.
yup
Man if you are so successful then why u pay on UA-cam for ..advertisement
Not quite sure your logic makes much sense. We don't monetize our UA-cam Channel...
If we can trade and make money, that's great--of course! But if we can also grow a business helping other traders to achieve their dreams, while also employing dozens of people around the country, funding charities, building the largest chat room on Wall Street, and forming the best trading education and tools available to retail traders, why wouldn't we?
You may have heard the statistic that over 90% of traders fail to achieve success. If not, we talk more about those statistics in this article: www.warriortrading.com/day-trading-failure/ Sure, you can still learn to trade the same way that those many traders do, learning the ins and outs of trading on your own. Unfortunately for the majority of traders, this also means suffering many losses while discovering what works.
By pooling the knowledge and experience of our trading educators and community members, we at Warrior Trading strive to simplify the typical learning process and make it more secure by mapping out the path to success for our students so that they don't have to struggle to find it on their own. Results from our students suggest that this path we provide is one headed in the right direction. While 90% of typical traders fail to achieve success, over 80% of Warrior Traders learn to trade profitably: www.warriortrading.com/warrior-trading-review-survey-results/
For years, our students have been sharing stories about how learning to trade has improved their lives and helped them provide for their families and find the financial freedom that they've always wanted. Because of this, teaching our community has become something that we are as invested in as the markets.
Man I appreciate you! The FIRST challenging aspect of EVEN STARTING TO TRADE IS knowing HOW to setup (push here, click here, press enter) the trading software, the scanning software etc. (mechanical moving parts) like a car (unlock car here, insert key or push start here, ) and Voila the car is running ready to drive (or trade in this case) Now the learning begins.
P.s (I drive a 50 passenger coach bus and someone had to show me the door opener to get in when the bus was shut off before learned where to put the igniyion key because I knew nothing) Please reccomend YOUR start to finish mechanical trading course (NOT TRADING PATTERNS) I'll get there lol
Hey! Have you checked out our Class 1 video? ua-cam.com/video/txWaMpSzHhM/v-deo.html
I did now what is the direct link to the rest of the course?
I know this is an old video, and you probably are not going to look at the comments, but I just want to say. thank you! you are my inspiration!
we read all comments emilio fajardo! Thanks for the kind words! :)
Another great video thanks Ross
When this is going so fast how do you even understand it???
I just started getting into this, just equipping myself with skills, just got back into banking, from standard retail, what I'm getting at out of this vid is:
Spread n volume really are super important for assessing risk. Risk n reward have a direct correlation.
Ex1 high volume of bids(both buyers n sellers) w/ small spreads is great practicing grounds.
Ex2 high volume n high spread is an aggressive stock, but money can be made with $$$ n confidence.
Ex3 low volume n low spread, can be easily manipulated by buyers sellers, bc the act of order placing is more influential.
Ex4 low volume high spread is extremely volatile n should be avoided bc pricing,n value are too shakey.
AM I GATHERING THIS CORRECTLY?
If you email into us we'll help you out! team@warriortrading.com
Just sent it
You are the best bro! Thanks a lot!
I don't understand "buy the ask" how do I buy the ask. is there a button to buy the ask vs buying the bid?
To get started with Warrior Trading, I highly recommend coming to our next webinar! It's free to watch and you will receive a copy of Ross' best-selling eBook "How To Day Trade" just for staying until the Q&A! Sign up here: www.warriortrading.com/free-day-trading-class/
You are an awesome teacher
You made a complex topic easy to follow and digest. Thank you
Great to hear you found it helpful!
what broker should I use when trading from Asia? CMEG or TZ or IB?
We would recommend CMEG, TZ, and then IB. You can learn more about our favorite brokers that you can use as an Asian resident in the following webinar. It's free to sign up and you will receive a copy of Ross' best selling ebook "How To Day Trade" just for attending!
Sign up here: webinar.warriortrading.com/signup
Warrior Trading thanks Ross
The reward portion of risk/reward ratio is up to the subjectivity of the trader
👍
19:00 through 21:00 good example
How can an inexperienced person start to get a handle on all this? Is there a Trading for Dummies book. I really want to try , but man it's intense. So much to learn.
I have a lot of videos on Level 2, but I’d look at my video day trading for beginners
@@DaytradeWarrior Just found the play list. Thanks!
This is the second video I've seen if yours and your channel is by far the best I've come across so far. At least in my opinion it is, thank you for all the great info. If I understood correctly you mentioned in another video you have a live chat room where I can see what you're trading when the Market opens. I would definitely interested in learning more from you. How can I get involved with that?
Hey! You can check us out over at www.warriortrading.com Hope to see you in chat!
Can anyone help me with trade ideas. I can't find the crpyto currency it list for the alerts for some reason and there are no videos that explain anything for it
You should check out our chat room community - www.warriortrading.com/day-trading-chat-room/
Great traders exchange ideas daily!
You rock! Best explanation of Level II I've ever heard.
Sorry ahead of time for this noobish question...but I feel like I have heard the term "short" used in a couple different ways. I am confused a bit. When saying you are "going short" or "shorting" are those the same thing? In my head I am trying to decipher if you mean short-selling or holding a short-term position with securities that you actually own and are not borrowed. Can this terminology mean both things?
Hi Evan, no difference in the terms, they both mean shorting a stock, selling borrowed shares and then buying them back at a lower price.
Thank you!
Thanks Ross ive learned so much in one video man! Keep up the great work! Ty
I've taken your class at the beginning of 2018. I must say I have learned a lot my friend. Maybe one day I can trade along side with you. There is plenty more to learn.
I'm very happy to hear that!
Have you become profitable after taking the warrior class
@@dex203 Hello, I have been profitable with trading recently. I've been using Speed Trader to help me build my account. I have had some losses in the process. It's a part of the profession!
Great video. Can you update it more towards the software you use now? Very informative
Hey AAA, I did a video on level 2 a little while ago, you can check it out here: ua-cam.com/video/6svEwI0rWUU/v-deo.html
how can i ever thank you ...my pattern day trading penalty has been with drawn thank you...i m geared up ....
Great to hear!
Thank you for sharing your time and knowledge. I will be checking through your videos to hopefully find more golden information.
Glad to help Stefan, Have you had the opportunity to attend our webinar? We can teach you how to get started trading in a 2.5 hour workshop session.
It's free to join, and you get a digital copy of Ross' best selling book "How To Day Trade" just for attending.
You can see more information and sign up here - webinar.warriortrading.com/signup
I highly recommend checking it out if you can. This will give you a better understanding of what we can offer you.
@@DaytradeWarrior Hey, thanks for the reply. I was in the trading room yesterday and today... there are some very good trade setups being discussed there. I'm not totally new but I have booked on to the webinar to take a look.
Hi Ross. Can you repeat again quickly your entry point of “first green candle to make a new high”? I’ve been trying to apply it to my playbook by following your live trades, but somehow I’m missing something (by the way, the way you’ve been trading this past 2 weeks is pure art to me! You’re a highly skilled craftsman).
Thanks again.
This was very informative! Mahalo!
In the time&sales window do the green prints happen when somebody buys at the ask price? And are the red prints when somebody sells at the bid price? So what if for example like it was here that the buyer of 49.90/share was a higher price than the seller price of 49.13 to 49.54. If so howcome to prints still went through as red prints? Shouldn't it be green prints instead. Im a little confused. Somebody please help!
Didn't notice you replied! Bro thank you
No problem 👍
Great video, thank you!
Is the ThinkorSwim software good to use for day trading?
Hey Noey, Hey! Think or swim isn't one of our favorites because they aren't quick enough for scalping, check out our list of our top brokers here: Here are the top 3 overall brokers we recommend:
www.warriortrading.com/the-3-best-online-trading-brokers/
Our preferred broker for accounts over $25,000 is Lightspeed (for US and all international residents except Canada): www.warriortrading.com/lightspeed-trading-review/
Warrior Trading member discounts for Lightspeed: www.warriortrading.com/lightspeed-trading-group-rate/
Our Rebate Program with Lightspeed: www.warriortrading.com/lightspeed-broker-rebate-program/
Here are the top 4 brokers with the cheapest commissions:
www.warriortrading.com/the-top-4-brokers-with-the-cheapest-commissions/
For accounts under $25,000 inside of the USA, an option is: warriortrading.com/my-thoughts-on-suretrader/
I don't get how a lower priced stock which has the same spread percentage is easier to manage or potentially more profitable than a higher priced stock with the same spread percentage. You're out-of-the-money the same spread amount given the equivalent starting investment. I assume, as you did, both stocks have similar float, trading volume and volatility.
thanks a lot for this video very very informative !
Holy windows 95 batman
Excellent video, thank you!!
What is your background education on this or did you learn on your own?
Hey Richard, I learned it on my own. It took me a solid two years to learn it all and another year after that before I felt confident with my trading strategy.
A plain english explanation of how to read these and what they translate in the market, FOR BEGINNERS, would be nice.