Level 2 Trading Secrets (How to Read the Tape Using Time & Sales)
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- เผยแพร่เมื่อ 21 ก.ย. 2024
- SMB's Free trading workshop: tinyurl.com/4x...
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
SMB Disclosures www.smbtrainin...
![[TH] JFT vs RLF - VCT Ascension Pacific - Day 2](http://i.ytimg.com/vi/PuIH7w_jO6c/mqdefault.jpg)
SMB's Free trading workshop: tinyurl.com/4xy7etaa
If I do not want to get hired by SMB, Can I get into your trading course?
This was so helpful. I like how we could actually see the level two. So many videos like this we can't actually see the numbers. Thanks for pausing and talking through it.
More of these videos smb please, this is real content to learn from. Not just theory
So far this is the best Level 2 and Time/Sales video I've watched. Like the disciplined process. I've incorporated it into my trading approach.....to better my Alpha edge. Thank you SMB. Much appreciated.
"I think you're jumping ahead" my guy had a double shot of expresso before the video. Lol . Very informative video you guy explain in detail how to utilize level 2 data. I have been a fan since my introduction to SMB Capital. Keep up the great work we appreciate you!
RVOL: The Relative Volume (RVOL) indicator compares volume data for each price bar with the average volume over a specified number of prior bars. The RVOL ratio produced allows chartists to easily spot setups where unusually high or low volume is powering a price move. When the indicator value is greater than one, the volume is higher than average; conversely, a value less than one means lower than average volume.
Is this an indicator on TOS or trading view? Can you please help guide on how to get this number?
@sankethsrimandumula6270 It’s a custom script you need to apply. Look up rvol script for tos on youtube.
Just script z score 1st SD and 2nd SD with color and boom
Best video I have seen yet on tape reading and level two. SO helpful! Thanks guys!
Thanks Mike. I lost a bunch and considered holding my breath until I died. Statistically knew that it wouldn’t work. I appreciate your content and find it very helpful. Hopefully between you, your guys and other resources I become successful and confident. Thank you. 🙏
Best video ever!! It was awesome 🎉 I love the easy going environment. Reminds me of homeschooling my crew of 5.😂 sometimes it good to show the fun😂 Knowledge was learned, laughs were had, and memories made!!
It was extremely helpful having the pause and replay commentary on the tape, with expectations set once for when the tape is resumed.
Thanks for highlighting what you were looking for and comparing to what was actually happening, this was a great video.
Thank you guys! Your videos are getting better and better.
lol this material is so good I almost forget that this is on TH-cam and not from my SMB online training module 😅 although I primarily swing trade, reading the tape is so important to taking an entry and going in big ⚾️
I came in to learning this stuff knowing that the Dunning Kruger effect is real. . That being said your videows have thuely openend my eyes as to how deep this profession can go. , I liken it to learning Guitar. Ive Played sinse i was 10. Id learn a few chords and think " I got
This" then id learn Scales and think : I got this . but at 60 years old im still learning how much i still have to learn.. This channel makes me see the things i must think about before i go live with my trading. thank you yet again
Thank you so much for sharing these videos. As someone brand new to trading, these are extremely helpful. I will be integrating the checklist right away.
this is an amazing video ive been on a mission to master tape reading and this has definitely the single most helpful video i have seen so far thank you SMB
Thanks! We wanted to provide a structure for how to think as you read the tape before diving into it.
I'm going to watch this studiously. I want to improve my trading knowing I'm using all of the required arsenal suggested by the pros in the game.
OMG...that is THE best reading the tape video i have seen and i watch a lot. Where yiur eyes are focused is always a question for me. More more more of these details. Love it!
Great video to help understanding Level 2. This video and the book "Day trading: Momentum, Level 2 and Reading the tape" sharpened my edge to make better trades.
Great content and the level of jeffs enthusiasm to get his point across to the trainee is priceless it shows the importance of having that checklist and now the trainee wont forget,big thanks to the guys at smb for the great content on a consistent basis.❤
Thank you. This did not turn out the way we expected, but was an important lesson for all of us to learn and apply to all tape reading we are doing.
extremely beautiful clarity well done team
I have a hard time understanding the trainee. I hear slurr. Appreciate the video
You can literally just watch the speed of the candle going up and down to get the same information as watching the tape. You might not be able to quantify things but you can intuitively tell where it’s strong and weak by its speed of movement.
Wow! I really enjoyed this video. I've been struggling to get better reading tape and especially the level 2, while applying what I see to my trade. This video helps a lot.
Hope the structure helps set the stage for your tape reading.
@@jeffholden3736 absolutely
@@jeffholden3736 Tape reading seems to be the most difficult skill for most people. I’d like to view more content about tape reading
Very interesting and awesome walkthrough.
This helps confirm the things ive been learning from watching the level two and times and sales tape!
i have been using the combination of watching important levels letting candles form and being patient for slow downs and watching the buyers flood back in after no sellers show up.
great reasons to see the stall out on this trade you displayed also at the end there. i also expected the consolidation to quickly smoothly form a bottom off 32 then accelerate to the high of day also.
thanks for sharing im working on my skillls and thanks to smb with some great direction, work ethic and creativity to utilize.
may have destroyed an account, but sink or swim is going to be my new slave some day!
Such a great teacher!! Thank you so much!
This is golden. Period.
Awesome video as always 👏🙏🫡
Good info, you talked about Volume, RVOL and AVR but you didn’t discuss what these or what levels these should be.
Didn't know sideshow Bob or Mel was a trader! lol
Appreciate the detailed breakdown! 🧐 I wanted to ask something unrelated: 🤔 I have these words 🤨. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What should I do with this? 🤷♂️
Great video.. I'm a pretty good L2, tape etc trader and there was some little things here I learned from!
Hello there. I’ve tried to use TOS for charts and order placement but don’t get to get the hang of it. What platform do you use for the tape. I trade with MT5 but only CFD”s for the leverage my broker offers. So far so good. I’d really like to start into trading real equity instead of derivatives. What could you suggest?
Cheers!
We call it the weather report for the stock or item.
My biggest takeaway is to watch the trade quantity of over 1,000 on Time and Sales and the number of these trades in a defined period of time. Thank you. 🙏
Eternally grateful for this content, in this journey for my life
Kids getting torn up. Jeff's on fire! 😅
Great vid on where to look and what to look for. A second piece that would have been great, would be to see where the trader scaled out based on the level 2 action. But very helpful, Thank You!
this is what the people needed. (myself) THANK U
I have watched this and will continue watch until I get it
thank you for clarifying that!! I'm sitting here like a chicken with it's head cut off!
When you guys talk about RVOL and ATR in your videos, what kind of timeframe and lookback are you referring to?
RVol of the day, 10-15 day ATR is a good starting point
Soo good.
Outstanding content as always....especially the detailed manner by which they broke down the level 2....and Holden has really come into his own on these videos...Holden = Bella 2.0?
Very interesting video. Thanks for this. Two questions: What is this LRP Price on L2 for? Second, what are the prices on L2 inside brackets?
I register for workshops. But I do not get a working links?
More videos like this one, please!
You have so much content it's getting hard to sort through your channel. It might be good to have a webpage with links to certain video types
interesting idea. Thanks!
Great video! Thanks a lot!
It is a great information, but I had a bad time trying to understand the young boy he speaks very very fast!
this was a frustrating training video.
Awesome!! thank you for sharing
What parameters are you looking for when looking at the RVOL/change %, etc
If you can think of it as a mental picture when first looking at a ticker. Similar to if I were to draw you a stick man. Every stick man will have the same common elements: a head, a body, two arms and two legs. Now, if I were to draw you a stick man that was missing just one of these elements and flash it to you on a card, you'd know pretty much immediately which piece was missing. A quick scan with your eyes over the elements of a potential stock will become automatic.
Awesome video!
2nd like & first comment!
Love these videos - keep em coming, thank you!
Very Nice video but really had a hard time understanding that young man!
Mr. Jeff, was there a document you were going to post ?
How can i join SMB capital❤?
46:23 what is a CLF?
Awesome video, I learned a lot with it, thank you for sharing. I have a quick question. At 53:00, Jeff mentions something about wanting to see the tabe going to positive 8 or 9. Could you share what does it mean? Thank you.
Where can I find that volume analysis? That looks incredibly helpful!
Can we do a video on Decrement trade with hight Risk to reward?
Is RV relative volume?
Thanx for your video teachings. Is time and sales similar to order blocks?
Good info Guys. A lot of information in this video. Just some friendly criticism if I may. It seems to drawn out. I feel like it takes a long time to give the points and then expain and show an example. But otherwise I like what I hear in it. Thanks for all the hard work you guy (y'all now that I am a damn Yankee for many years from New York) Obviously these videos are a good marketing tool but y'all still share a lot of great information for free up front.
New to this channel. So they are selling a course?
Can somebody tell what program or broker are those guys using for the level 2? Thank you in advance
Will this same strategy work for indices, or the SPY,QQQ?
I heard that he uses two platforms, 1. TOS and 2. Great Trades for level 2 and T&S? Am I writing it correctly? Please enlighten me on this.
Thanks!
how did you get those Tape coloring like that, which application is best for coloring like that?
Thanks for the great content! What service is this trader using for the level 2 data?
That would be good to know.
That was on our proprietary platform. We have heard that Das Trader Pro is very good as well.
Guess it's a secret lol@@AR-pj2wt
finally a zoomer haircut at smb
Lol
Perms are expensive and visits to my local high school show interest in the curly cut trend remains strong. Long RGS.
I haven't watched the video yet and I'm already in tears. Zoomer traders have to be the most entertaining.
Basically T&S is the past and the Level 2 is the future?
does this gentleman surf
The spread was getting that wide??? 30.88 x 30.94 at 34.10 in the video?....
Stock like amzn Rvol is below 2 most the time except at open am i wrong
@smbcapital , When you talk about RVOL, Is it RVOL at time (for the last 10 same time interval) or the simple RVOL i.e. Volume/ AVOL for a particular period (lets say last 10 bars) ?
We use RVOL for the day.
this video is about a roman curly haired giant (who looks suspiciously like David statue by Mich.) talks to a nordic trader
DO the video yourself if you want it done your way
Do you hire futures traders?
he made this trader very nervous, in hear in his voice.
Can barely understand what the kid said. TH-cam CC[closed caption] can't even get all of his words or get the words correctly. Not good. The kid needed a mic if he's going to talk in his throat like that. And his talking-in-his-throat only shows how inconfident of what he was saying is. Grrr....
Good video covering some of the basics, but would give the instructor and surfer student dude probably a C. So many ways to read the tape, but this video is more of a demonstration of how easy it is for someone to mislead by over-confidently directing a noob, who in all honestly doesn't appear to have any semblance of a backbone. That may be good for surfing ocean waves, but in the stock market and life here on earth, not sure this is the best example of how to understand TA.
Why not use a footprint chart vs time & sales?
Why not use bookmap?
@@ricomajestic not helpful for trading /ES (at least for me)
@@Will_Ramb0 How's a footprint chart any better though? I mean bookmap is just a visual representation of time and sales and level 2.
6:09 … just been in this video a few minutes and I must say, it’s a bit abrasive to watch. On such of an important subject, why not just show us how and why to do it. I watched a bunch of your videos and I know this your norm. Your videos are normally very professional, straight forward and educational.
Can't wait for AI to analyze the tape and level 2.
... you sure you guys don't give away to 🤬much!
20y experience and still didn't find the real secret.
🥳🥳🥳
The host talks SO MUCH. We heard the prompt the first time let the other guy answer. Don't need to keep repeating yourself.
The instructor is making the trainee nervous. He needs to relax and let him talk. If the instructor wants to be front and center to explain level 2, then launch your own video.
Jeff Holden is a legend. The trainee is probably thankful that Jeff is grilling and training him. I know I would.
I would never use his firm..
THIS YOUNG GUY IS REALLY MESSING THE VIDEO. i DON'T UNDERSTAND A SINGLE WORD HE IS SAYING.
great video only issue they could have used someone who knows how to speak this guy just speaks from his nose and too fast.
I couldn't understand a word the dude was saying. Nervous and mumbling the whole time
The older guy keeps interrupting. If the older guy wanted to talk the whole time, he should have given the presentation himself. We don't need to hear one guy interrupting the other constantly.
Vids need to be more concise.
Too much repeating of same concept. Boring...
Better to get to point if you want ppl to learn.
Spoiler alert - It never reached 33 haha
fart🤣
i wish the kid talks less.