How to use Level 2 and Time & Sales as a Momentum Day Trader
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- เผยแพร่เมื่อ 21 ก.ย. 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!👍🏻
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!
lol i just heard him say his daily profit goal was $500... now its $10k.. rly cool and motivating to see that
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!
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!
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?
This is so well explained, what a great teacher! Thank you Ross.
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 :)
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
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!
This video not only gave me an in-depth look at level 2s but also I got to understand validity from float and it clicked almost instantly. Thank you so much!
Glad it helped!
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 :)
Im halfway theough The vid. Had to pause it to say this video on L2 is amazing. Your not just explaining it but, informing the technique on what to look out for and how to use it. Honestly i learned so much
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.
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.
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.
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.
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? th-cam.com/video/txWaMpSzHhM/w-d-xo.html
I did now what is the direct link to the rest of the course?
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.
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!
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!
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! :)
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.
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!
You are an awesome teacher
Great explanation. Gotta drop a comment and say thank you
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?
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 ?
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!
This video is just perfect! Finally I understand
Thanks for watching!
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 very much Ross, great video, as always!
You're welcome Olivia!
this is incredible, thanks!
You made a complex topic easy to follow and digest. Thank you
Great to hear you found it helpful!
Crazy how far one can go , love to see the growth .
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!
Can you tell signals that trade isn’t vailed anymore , to exit before the trade go against you :)
👍🤓
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!
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 I found this very useful
We're very happy to hear that! You're welcome Maureen!
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/
I’m new to trading. Started down this road because of crypto, which is how I came across warrior trading. I’m not a member yet but I certainly will be. Price is high but I like the way you teach and explain things. I’ve been watching your live feed in the morning and paper trading based on your advice. Absolutely great. Soon I’ll signup for your class and keep the ball rolling. Kind of just wanted to build my confidence and understand before I invested.
hey! glad you foudn us! keep watching these episodes!
Thank you! Look forward to you joining the community!
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 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
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!
great content I appreciate that your giving us these great lessons on trading
Thanks for watching!
Another very informative video. Thanks for sharing!
Thanks for uploading.
You're welcome!
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?
You rock! Best explanation of Level II I've ever heard.
Thank you so much for this video! I learnt so much.
Awesome Emma, really glad you enjoyed!
Excellent video on Level ii and Time &Sales. Best I've seen after watching over a dozen. I just subscribed to your channel!
Awesome, thank you! Glad you enjoyed!
19:00 through 21:00 good example
You are the best bro! Thanks a lot!
Wonderful video Ross! You are a good trader and a great teacher
Thanks a lot Chris, I really appreciate that!
waooooooo this explanation is more clear than the water that I was drinking right now!!!!! A+
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/
I dont understand the spread. I get there is a gap between ask and bid but who is selling in between? Red is the bid, green is the ask and spread is white. I thought all sales happen between bid and ask.
Thanks for this.... good guide to this seemingly complicated little window I see so often. Great stuff.
yup
Explained really well. Thank you!
Thanks for watching!
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
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!
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!
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?
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
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...??
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.
thanks i understand much better how to use level 2
Happy to help!
Thank YOU!
Thanks for watching!
love your explanation at 15:00
Nice Taimoor, hope the video helped!
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.
👍🤓
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!
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.
Thanks Ross ive learned so much in one video man! Keep up the great work! Ty
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.
Great video, thank you!
Good stuff. Good guy here.
Thanks!
Love how u keep it real, green or red! Hang n there Ross👊
You bet!
Didn't notice you replied! Bro thank you
No problem 👍
The reward portion of risk/reward ratio is up to the subjectivity of the trader
👍
Another great video thanks Ross
Phenomenal video! Thank you!
Hey Ross! I typically use level 2 on TOS. Quick question, are the bid and ask sizes in increments of 1,000?
Thank you for your clear, concise video reading level 2. QUESTION- Why have you changed from DAS Trader to Sterling and I assume you make a little commission for referrals from either platform which I believe is an industry standard accepted practice for traders at your teaching level? Thank you again for all you help. Much Appreciated.
Hey Paul, I actually don't get any commissions from any company for referrals. I refer them because I think they are the best and easiest to use.
@@DaytradeWarrior Oh- that is really good to hear. So many people on You Tube receive commissions that I think you should convey to people you don't (and you probably have at times I missed) - so you present clarity of your position, compared to many other You Tubers who do profit from recommended services. I so appreciate your good teachings. Thank you.
I needed this video, thanks Ross!
Paul Eberhart thanks you for your explanation of level 2 and volume...
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!
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
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.
fantastic video Ross!
Glad you liked it!
GREAT VIDEO 👏👏👏👏👏
Thanks Erin!
You are the level 2. Thank you
You're welcome!
Fantastic presentation.
What kind of principle do you generally have in play on a single trade?
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/
A plain english explanation of how to read these and what they translate in the market, FOR BEGINNERS, would be nice.
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.
One thing I'm unclear on is why the stock price goes DOWN when you have a big seller. For example, assume the current market price is $14.50. If a seller has an order for 20,000 shares at $14.65, when someone BUYS that stock, the stock should go up 15 cents. So, if sellers' orders are being filled, shouldn't that be driving the stock upwards?
Mark McPherson From my knowledge you are right. The price will only go up if his ASK price is filled above the market price. The price will go down if he sells at the BID price which is lower than the market price thus driving the stock down.
It's supply/demand. If a seller's shares are exchanged above the market price then that means that there is an increased "demand" for the stock and people are willing to pay more for it. In your example, 0.15 cents more. If he sells below the market price that means there is more "supply" and most likely means the seller is trying to rush out of the trade. This drives the stock down.
and you speaks clearly
Thanks for watching!
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: th-cam.com/video/6svEwI0rWUU/w-d-xo.html