2023 Day Trading based on Level 2 Signals

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[@BearBullTraders]

🔥 Join us at the Trading Summit for a packed schedule of valuable strategies and trading psychology SAN DIEGO MAR 2ND & 3RD 👉 bit.ly/3HuLix5

[@JohnRaaf]

Thanks again for teaching more about options, especially reading the L2 when it's loaded on the ask side. What a day!

[@BearBullTraders]

Glad it was helpful!

[@hafizur088]

Great information given by you.Thank you.

[@rahilxxi8510]

Very helpful, thank you 🙏🏽 😊

[@BearBullTraders]

Glad it was helpful!

[@halffinger8262]

Loving these recaps! Amazing examples and great trading.

[@BearBullTraders]

Glad you enjoyed it!

[@collazomtb281]

Thank you Andrew!

[@BearBullTraders]

Thanks for watching!

[@ArkhanTheBlack]

Great video Andrew, i wish there were so clear explanations on youtube when i started

[@BearBullTraders]

Glad it was helpful!

[@ZRizvi]

Excellent Recaps. Amazing trades Andrew

[@BearBullTraders]

Glad you enjoyed it

[@connorculver2172]

I've been trying to understand the action of the level 2 and how it affects price action on the chart. This video helped a lot!

[@BearBullTraders]

Glad it was helpful!

[@ayoub2978]

Really great recap Andrew!

[@BearBullTraders]

Thank you so much for watching! We really appreciate your support!

[@AchrafDhayni]

Great video indeed. Thanks 😊

[@BearBullTraders]

Glad you enjoyed it!

[@tonychimenti7268]

I am loving the options strategies Andrew!! Especially for the way you trade.

[@BearBullTraders]

Thanks for watching!

[@inshort9072]

As usual great presentation.

[@BearBullTraders]

Thank you!

[@inshort9072]

@@BearBullTradersMr. Aziz, Requesting you make a dedicated playlist of videos from basic to advance for newbies like me. I find videos randomly useful. Sometime find it difficult to find missing link.

[@EMSXT]

Thank u boss plz keep your great work,,,, very nice video

[@BearBullTraders]

Many many thanks!!

[@therecedinghairline]

Love these recaps you put out daily. So insightful. Thanks for these! I have a question about the level 2. These unusual bid and ask sizes were about 700-1400. Were these shares or options contracts or? Usually, on my level 2 for these high-volume names, the sizes are in thousands and tens of thousands and it becomes hard to use level 2 when there is similar data on both sides.

[@BearBullTraders]

Glad you like them! These were shares, I traded the stock.

[@adfgdfgd]

Thanks for the video! It truly helps and very easy to understand. I saw in the comment section where you said, not only does big number matters, but location of it should be also considered. With that being said, big number in the highest bid price (located top) = bullish big number in the lowest ask price (located top)= bearish Am I correct? Because they are signs to "desperately" buy/sell. But in this video example 2:41 I see big numbers located on the "top of order sheet in ask side" which I see is bearish sign, but you went on saying it is bullish sign and it did breakout indeed! Would you help me understand this and how to apply as strategy? (Maybe it was originally located in the middle and moved to the top but speed was too fast to notice) I appreciate it advance and sorry for long comment!

[@BearBullTraders]

To put it in a simple way. If a seller is sitting on the top, it means he believes the price is going to go up to him and fill his order, and that is a bullish sign! If it's bearish, he wouldn't be sitting up there, he'd sell it for a cheaper price!

[@matthewchuckherstrom9959]

As always, it's exciting to watch!! I took the earlier trade on AMD with you, but I am definitely a "scalper", so I didn't stay in for the whole move. My profit target, at this early stage, is $1000 per day, and I'm usually there within 15 - 30 minutes, with aggressive scalping. However, looking at your P/L clearly tells me I need to master my emotions, and ride out more of the move!! Your options trading is very exciting...my instinct tells me to master trading stocks, first, before incorporating options, but my long term plan is to start with a margin/day trading account, and ultimately have an options account, and a swing trading account.

[@BearBullTraders]

Sounds like you have a clear strategy and goals for your trading. Scalping can be a profitable approach, but it's also important to control emotions and consider long-term plans. Mastering stock trading first and then incorporating options could be a good approach. Good luck on your trading journey!

[@rvsproductsolutions5867]

Great video, thank you! Asking is you can do a video on how you manage winning trades. Like how much you choose to sell and partial out. When you add to position are you adding back the number of shares you sold?

[@BearBullTraders]

Sure thing!

[@pacocuhh]

This is very interesting. I always thought that if I saw a large ask it would mean that sellers would bring down the price if it got there. It seems I was wrong all along!

[@BearBullTraders]

The location of the big orders in the order book/L2 is very important: big sellers and big buyers sitting down below are waiting patiently to the price to come to them, so they can take the price lower (bid) or higher (ask). They are not desperetely buying or selling at the top of the order book.

[@waheed7288]

Great short explanation of Level2 ,Andrew I heard garbage truck in back ground hahaha, I remember when you moved to this office at the beginning when you and Brain were trading live pretty much ever, day there would be garbage truck I hope you restart those live KZbin trading in the morning .

[@BearBullTraders]

Thanks for the comment! I'm glad you enjoyed the explanation of Level 2. It's funny how memories can stick with us, even small things like the background noise of a garbage truck. Restarting our live KZbin trading sessions is something we've been considering, and it's great to hear that people are interested. We'll keep that in mind as we plan our content in the future!

[@jimvasto4479]

@@BearBullTraders I would be very interested in that

[@Fr3shProduce]

@@BearBullTraders I would love to see this.

[@user-ub9ff5os6q]

you said at 0.57m that "A big ask a huge seller a bullish sign A big bid a huge buyer a bearish sign" but we know that big ask means selling pressure. would you please explain ?

[@JohnathanTotten-oh9vy]

If it can break that level and clear the order it means buyers are aggressive the ask order is a limit order which can only be bought up by market orders which in turns means it’s bullish

[@BearBullTraders]

The location of the big orders in the order book/L2 is very important: big sellers and big buyers sitting down below are waiting patiently for the price to come to them, so they can take the price lower (bid) or higher (ask). They are not desperately buying or selling at the top of the order book. If those big sellers and big buyers are on top of the order book, they are desperate to buy or sell, so they will take the price up and down, respectively. Watch these videos about L2 reading bit.ly/3Z9IfAX Make sure to subscribe to our channel so you get notified of our new videos!

[@rohansathe5087]

Hey Andrew what is your criteria near the vwap for long or short what price action you see . ❤ From India

[@BearBullTraders]

I like to see good volume and clear price action, not choppy...

[@jimvasto4479]

Nice job, on the trading today, is it necessary to have NASDAQ openbook or will the regional level II do?

[@BearBullTraders]

It is best to have full Nasdaq, but the data is a bit more expensive. I recommend to have it.

[@jimvasto4479]

@@BearBullTraders good stuff, does BearBull Traders have any special deals for DAS subscriptions?

[@AdrianVizik]

Are huge bids bearish and huge asks bullish when it comes to small caps in $1 to $10 range as well? Or does this only work mostly for large caps? Since may small cap traders consider large bids as bullish and large asks as bearish. Thank you!

[@BearBullTraders]

It is not just the fact that they are "big", those big orders need to be down the order book, so the buyer or the seller is waiting confidently to the price to come to them. If the big orders are at the top of the order book, they are desperately selling or buying.

[@AdrianVizik]

@@BearBullTraders Thank you Andrew!

[@lightofmylife1616]

I would love to apply to be a prop trader for BBT man

[@BearBullTraders]

BBT is not a prop firm!