How To Read The Tape || Level 2 & Time and Sales
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Link to Tape Reading Video: • ThinkorSwim Reading Le...
Here is a GREAT example on how to read the tape. Level 2 and T&S are important tools to understand in gauging if market participants are aggressive or weak at certain price points.
Be sure to subscribe, and check out the other videos on my channel!
Keywords: thinkorswim, options, options trading, td amertitrade thinkorswim, trading, carmine rosato, tape reading, how to read the tape, level 2, time and sales
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My screen is shattered bc of the like button
I stumbled on these videos few hours ago and the videos have provided me with more tangible information on Level 2 stuffs. Thanks for this great content. I want to know, where can I get the level 2 data as most of our brokers around here do not provide access to such information on their platforms?
Notes:
1. When a stock breakouts out you want to see the tape speed up.
2. BID and ASK show limit orders that have NOT get hit yet. (Auction)
3. Tape shows both limit and market orders (order flow)
4. Used to read the sentiment.
5. You want to watch the tape at key levels, not at every tick that will waste mental capital.
6. If there is stacking action the ASK and BIDS are not strong enough, it will go down.
7. When it breaks out, the ASK if there's huge size you want it to thin up and you should see the orders get executed on the tape. Once it gets hit, you want the bidders to start coming in after the breakout occurs, as it shows interest and you want the ASK to start thin up.
when a stock is breaking out to the upside. does the time and sales need to be all green and moving fast thanks
This is one of the better L2/T&S videos I have seen thus far in my journey of learning how to trade the last few months. Thank you for this.
Man thank you! Been watching a couple videos on level 2 and time and sales, and this one finally clicks with me in understanding. keep up the great work.
I hate this world bruh. this kids out here making good solid informational vids and schmucks like that skinny Ricky got all the clout. Carmine you blow em out the water brother. keep up
I’ve watched so many videos on how to read this stuff but your video is by far the best and easiest to understand
This is the best video I've found on yt about reading the tape..
Best explanation of Time and Sales / Level II I've seen so far. Thanks!
Thank you !
This has been the best video so far when trying to deeply understand what to look for on the level 2 & tape when trying to scalp long through a key level. Thank you.
I watched 6 videos on this topic.....and you made it clear and easy to understand
one of the best level 2 videos i have watched!
Love your content bro. You’re really passionate about teaching trading. Especially for free :)
I appreciate that! Thanks for support!!
Nice video, you explain this concept very well. Keep up the good videos!
Thanks, appreciate it!
bro, appreciate this work. god shall reward generous people like you.
Thanks for the video mob boss
Your channel getting better and better. Good job!
Thank you!!
This is crazy stuff. Can't wait to see this in real time! Thank you!
Carmine awesome video! Question. Can I use level 2 for the 5-15 min chart to trade. I don't really play with the one minute. What're your thoughts on the 5-15?
Nice video, so market orders play a huge role in scalping, didnt know this.
Entries and exits are fast. Market orders are only good on liquid options with tight spreads, or else you will lose a lot on slippage
Love it. Very understanding and clear
This provided lots of value thanks
Awesome!!!
hello, first of all very nice video. And out of curiosity, what platform are you using?
Found your channel bro love it so far
Freaking amazing! Thanks for the lesson sir! Stay blessed 🙏🏼🙏🏼🙏🏼
Great video with very clear info! Just subscribed, thank you!
very explanatory
great video
how you know in spready stocks when tas is inside the spread if its bearish or bullish
Wow. Fantastic video. Thank you so much
Thanks for the tips :)
:)
Thank you for the video. Where do I get that data (L2 and sales and time) in my mt4 and trading view?
You mention about 10 or 20 option contract May I know how you Sell or Buy the option where the live price is so moving so fast, Can you show an example of how you going to execute it
11:00 "safe to play calls at key level" is there particular call to play? which call strike and date, for example?
How do you know the difference between the wall being actually broken vs someone just pulling their order quickly?
If the "wall" is getting broken, you would see prints at that price on the T&S. Those orders are getting absorbed, and you want price to tick higher with higher volume and speed since that buyer or seller is getting weaker. If someone is pulling their order (spoof) price will break right through, and may not see any prints at that price getting filled (no vol)
@@carmine_rosato Your answer shows so high experience. thanks a lot for sharing your knowledge
Thank you for your content, it is more appreciated than you might know
I appreciate that!! Thank you
Level 2 is like the Sierra charts?
what is red and green on time and sales. Is red means buyer filled and green means ask is filled ?
Hey could you explain why people just don't use Depth of Market + Tape?
Why use level 2 if TOS provides DOM?
It’s all preference. TOS DOM is not the best IMO
excellent explanation
I need this
Hey so that means when there is alot of red prints that means the buy order are getting executed ??? . And does it means alot seller strong ??
What do the different colors of the bid/ask prices mean? everything is a shade of blue, but different price colors (orange, black, green, red)
Do options reflect on level 2 also? Like if i buy 2 contracts on market open will that reflect on times and sales or something like that?
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?
On the time tape is green buy and red sell
On TOS, color doesn’t specify buy or sell. Instead it indicates if the ticket is an uptick or down tick from previous transaction
You mean marketable limit order. It does not have to be a market order
On time and sale, how do differentiate whether an order that has filled is either a buy or sell?
You can't. Green means the price went up. Red means the price went down. That's it.
I do not see the chart OnDemand playing back in January 29, only a straight line. Any one else with this problem?
Hi Carmine, What does the green and red prints mean in T&S?
Green just means an uptick, and red just means a downtick
🔥🔥🔥🔥🔥
great video you duh man carmine
wait....explain level 2 and time and sales it sounds like at 6:00 youve mismatched ask as sellers but actually the askers are buyers. CONFUSING!
The people sitting on the ask are the ones who are offering so those are the sellers. Limits on the ask are sellers. Limits on the bid are buyers
I can't for the life of me figure out how to get those price levels on the chart (The $325.50 resistance line).
I saw in a stock a lot of orders on Bid side But the stock is get down !!
High level templer
First one!
How can you tell if it's a spoof order?
The order never goes thru on actual sold side.
@@jneusbaum3697 right gotcha makes sense.. I was confused tho cuz u still don't know if it's a spoof order in the sense of somebody purposefully putting in a bullshit order that they know they will never fill strictly for the purpose of manipulation or if that trader genuinely changed their mind on the trade. But I guess it doesn't really matter either way, for all intents and purposes it's essentially a spoof if it never actually goes through. Thanks
@@bsykesbeats Yes! That's true. No pro yet...but I look at generalizations on the tape. I look for patterns of large size near inflection points. One will see the VOLUME on the order side start to increase and SPEED and volume take off on T&S if there are buyers. Also, watch for orders to be stacked through various levels at different prices. Very true how one sees all the orders fly by on actual sales side for real orders.
FUN to watch and be involved when it happens...it goes straight up under heavy volume.
Good luck. have fun.
Remember...Preserving capitol is most important.
Why is it important to see the chart at a 5 minute level when you are looking at such a specific price point occurence of 325.50.... doesnt it make more sense to use a 1 minute chart?
Hi./.
On the time and sales green means there buying and red means there selling?Brand new sorry.
on normal t&s, yes. But on TOS, green just means an uptick, and red just means a downtick
@@carmine_rosato Sorry Kinda confused?
There's no real Level 2 for retail traders what you're seeing is showing level 1 on each exchange (Top offer on each exchange), you'll never see exchange more than once for bid ask (check yourself) otherwise you would see sometimes same exchange multiple times, it's L1 for each exchange ordered accordingly. Same thing for the book, another thing to keep in mind +80% of orders are hidden orders for institutional traders. What you're seeing is a fraction of orders from tiny tiny day traders like us,that has 0 effect on the market. So you really believe AAPL is traded by 100s share at any level, while the volume in that level is +100k
The why: brokers pay for the data by user endpoint (no quota) so what you're seeing is costing them money, realtime quotes, orders, and book. Are billed separately.
Does the full book not show the entire depth
yo Carmine appreciate the vids bro but man you're confusing me bro. I be checkin in cause you were making the day trading option vids but now you're talking about straight day trading stocks. got my head spinning over here. it was a good vid tho
When you trade options, you are relying on the direction of the underlying stock. This helps you with the direction of the underlying stock to see strength or weakness between buyers and sellers. Options are just another instrument to trade. They all revolve around the underlying
@@carmine_rosato I been trading for about 18 months so I understand the difference in between stocks and options but not consistent yet in growing my account. I've been trying trading options because of the returns. I've been thinking about getting your course because your style fits exactly how I've been trading. Your watch list was very similar to mine. Anyway we can have a more direct convo. Email or what's the best way to reach out? Always appreciate your responses man that's wzup.
Message me on Instagram @investitrade or email investitrade@outlook.com
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Carmine, love your work, but please be a bit more selective on the "commercials" get rid of this obnoxious scammer that belongs in a fish market, It is unbecoming of the quality material you present in your videos. Thanks
Pretty sure he doesn't determine the ads you see on his channel. You watch trading videos, you'll get trading ads which is basically the stupid Dan guy.
@@BullishBananaTrader Regretfully, at a glance it is a reflection on Carmine despite the class act he provides. Truetrader Dan belongs in the fish market or in jail.
SHERMAN TEXAS he has no control of the ads you see lol it’s based on the type of videos you watch
Great video
Thanks Josh!