3 Secrets for using Level 2 to Predict Breakouts

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Warrior Trading // Ross Cameron // Day Trade Warrior

[@Syzlex_]

Can't believe this is free on KZbin, this is so great. Thanks Ross!

[@DaytradeWarrior]

You're welcome!

[@LinhHLe]

He learnt too much so need to share. I saw him learnt from Linda, Cornor and Wyckoff, hat off

[@jobydorr4267]

@@LinhHLe Linda and Cornor who? last names?

[@SchweepyP]

Hey Ross! I've been searching far and wide for a more detailed and kind of play-by-play analysis of reading Level II, and your explanation has just blown me away. I loved how you showed a live trade and pointed out multiple times exactly what you were looking for on the tape and why it was important. I'm really looking forward to watching the rest of your videos and learning as much as I can from you. Once again, thank you for the quality educational content! Cheers!

[@DaytradeWarrior]

You're welcome Patrick!

[@TruthOrBullshit]

thank you Ross, just got in simulator and learning the ropes, i couldn't do it with out you, so appreciated!

[@yukuolee3740]

Great lesson. I was intimidated to get a position in the beginning when I saw big sell orders like the one in your video on level 2. In the past few weeks, I noticed a few times how quickly the price moved once the big sell order(s) taken out. It happened just like how you described it. I have become more alert to big sell orders nowadays, particularly when the buyers seems to hang around the neighboring area.

[@DaytradeWarrior]

Yep, always good to be aware of it that's for sure!

[@chrazyman77]

I watched this during live trading yesterday in the Chat room, then afterwards, again and again in real time and slow motion. This has been the most eye opening information and will definitely help me with my strategies going forward. I'm so glad I joined Warrior Pro. You should see the notebook I've been using while taking the courses and watching you trade in the Chat room! It's like going back to college. I'm not a sheep. I know you make money from all of this, but I also see the teacher's heart in you and how much you enjoy training others. One day, I'll meet you at one of the Warrior Pro Group Sessions and I'll thank you in person.

[@DaytradeWarrior]

Appreciate hearing that, keep up the good work!

[@floopydedoop8016]

Check the archives on his live trades on his site. You will see when he enters and exits trades, and you will be able to see if what he does is matching up with what he is saying at the time; do they match up? There's a reason you don't get to see his live trading windows in the chatroom (he only shows charts and scanners), why do you think he does that?

[@recoveryduroad6652]

@@floopydedoop8016 u are dunce

[@solaropposite6112]

@@DaytradeWarrior how is that 22,000 shares? in the beginning, " 228 shares @ 4.95 "

[@Monsolol]

@@solaropposite6112 The numbers represent lots of 100 shares. So 228 would be 22800 shares.

[@alexanderr3098]

This short vid is a masterclass!! Great job.

[@DaytradeWarrior]

Thanks Alexander!

[@visionleagueentertainmentt8297]

Phenomenal video Ross! Excellent video! Can't wait for the webinar.

[@DaytradeWarrior]

Thank you!!

[@patrickmccartney8805]

Good vid, have watched a couple of times. In fact watch you trade like this everyday but has remained a challenge for me, slow in slow out. A work in progress... Thanks Ross!

[@DaytradeWarrior]

Thanks for watching!

[@nikieltaylor9799]

Crazy how I was looking at videos on level 2, because I noticed a lot of traders using it. I was curious to why traders use it as a reference.Thank you for sharing!

[@DaytradeWarrior]

You bet, hope it helps!

[@allegorx58]

ARE THESE REAL COMMENTS?!

[@michaelshurtz2424]

Thanks Ross! this is exactly what I needed. you just answered a question that has been nagging me for months on how you do L2

[@DaytradeWarrior]

I'm glad I was able to help! You're welcome Michael!

[@solaropposite6112]

@@DaytradeWarrior how is that 22,000 shares? in the beginning, " 228 shares @ 4.95 "

[@jayusdonvudhikai3150]

@@solaropposite6112 size of 1 means 100 shares

[@G_Mac_Trading]

Hi Ross, Excellent, I am a warrior pro student and have been watching your live trading archives, while studying the day trading course. I could watch 100 videos of these Level 2 commentaries. One of the big questions we have as new traders is “where is my entry and exit” the L2 videos help me build my “memory muscle”. The L2 can sometimes move so fast it is hard to interpret the action, so your replay is a huge help. Thank you Guy

[@DaytradeWarrior]

That's right, glad these videos help!

[@2002honda954]

Hey hows the trading going for you. Would you recommend the courses. I really think Ross is a great teacher. Thanks for your comment.

[@gastonj.garcia7807]

This is an amazing explanation and took only 50 videos of level 2 for me to find this. Will be adding this into my Stock playlist that I give out.

[@DaytradeWarrior]

👍🤓

[@maureenraymond8149]

Yet another brilliant webinar I have a lot of catching up to do. 👌🏾

[@DaytradeWarrior]

Thanks for watching!

[@supersam1914]

Been waiting for this thanks 🙏🏻

[@DaytradeWarrior]

You're welcome Eli!

[@mordecaisackett9421]

good info, dude! - I can tell that setup took a while to get organized like that - very illuminating.

[@DaytradeWarrior]

Thanks for watching!

[@bryan2241]

So large bid (big buyer) means the stock is going further down, large ask (big seller) means pop to the upside. So when you saw the big bid, it actually meant that it would drop. That’s because buyers are not willing to hit the ask and buy it where the sellers sell it, they are patiently waiting for getting the stock at a “discount”. The opposite is true for the big ask: sellers know (or think) the stock will go higher, thus, they Are not willing to hand the stock over to the buyers at the bid. To simplify: big ask means LONG, big bid means SHORT? In the video at 10:37, we can see that the stock INPX having a big ASK at 4.95 while the bid has a small size of 4.93. So you had set a limit order to long at 4.96 because the Level 2 telling that it's going to break the HOD, so you took a scalp trade. Am I correct?

[@zealr78]

Hi Ross, These videos have been so educational. I am a single mom with a horrible job that takes so much away from my 8 yo and all he has is me. I am determined to learn and become better trader so I can choose to spend more time with him while also putting food on the table and roof over our head. I hope to save up to join your warrior trader pro class soon. Trying to understand the basics so I can make the most of the time in the training. Thank you with the bottom of my heart! I have watched this particular video several times. I watch a lot of your videos several times. Thanks and you will see me as a student, hopefully soon!

[@DaytradeWarrior]

Thanks for sharing! Hope to have you join the community soon 🙂 Keep at it!

[@fx-retracer]

I've never seen anyone explain lvl2, what they are looking at, and what their thought process is so well. Thank you.

[@DaytradeWarrior]

You bet, happy to share!

[@gregwhite3883]

Wow extremely helpful in learning level 2...nothing teaches you like the demonstrations

[@DaytradeWarrior]

That's right Greg, glad you enjoyed!

[@gregoryjules2005]

Thanks for the video! Stop limit orders are great for catching those breakouts. I learned the hard way to set a stop a bit below the breakout area in case of bull trap

[@DaytradeWarrior]

That's one way to do it Gregory.

[@allegorx58]

LOWTF

[@calvinstephenson3817]

Hey, Man good stuff... How often do you see stocks under 10 retests the breakout point ( like does the stocks breakout and come back like this one, and if so for one of your "picture perfect stocks how many times would you want to see a retest of the breakout point)?

[@tommyduris3044]

Your a legend Ross!!! Cheers really enjoying your videos even though I'm super new to this. You explain everything so well that even a person like me with 0 experience understands. Hats off ;)

[@DaytradeWarrior]

Thanks for watching!

[@kjunmariner]

Literally reading the book, I'm at level 2, finished the chapter, and immediately came to KZbin to see more of that chapter lol.

[@DaytradeWarrior]

Awesome! I hope you're learning a lot from them.

[@Trixler4]

Keep up the good work Ross. Looking to use lightspeed in a few days, this was a fine breakdown, more of that.!

[@DaytradeWarrior]

Nice Anon4, good luck!

[@yair3979]

hey ross great video really good practice for me :- ) i'm sorry im little confused im trading only long positions for now , where i need to focus in the level 2 for the stock will rise up it is on the ask in the right side ? thank you

[@darknessfierce4209]

This is the guy you want as your science partner, Smart and hard-working and easy to understand Thank you for your generosity in sharing

[@DaytradeWarrior]

Thanks 🙂

[@nodaysoffmusicgroupllc.7489]

More level 2 videos like this please! thanks so much!

[@DaytradeWarrior]

🤓👍

[@jonnybritnorth7966]

Ross thanks for confirming what i look for every day. keep up the good work

[@DaytradeWarrior]

Thank you!

[@reprogrammingmind]

Great teaching! Thanks for sharing.

[@DaytradeWarrior]

You're welcome!

[@luisrivera-os1fe]

I came into this video skeptical but I came out a believer 🙌 I'm definitely going to check out your other content

[@DaytradeWarrior]

You'll be very happy that you did! Thanks Luis! warriortrading.com

[@TRUMP1BA]

I am extremely into your live trading sessions right now and I have questions. 1) Do you still click a mouse to buy or use hot keys? Is it a marketable limit order? If so, what is your +-cents? 2) When getting out, should I do it moments later, like a sniper? Do you/can you get out with a sell all marketable limit order? 3) Can I pull off such things with thinkorswim, or is light speed the best/only option? 4) Also, how do you get your 10s, 1, 5, daily charts all to link up/change ticker together? Can I do this on thinkorswim? 5) Are you able to pull up a HOD momo ticker in light speed quickly through trade ideas? Are they linked? You’re great, Thank you for all you do!

[@jase_bakes2613]

Ross you are amazing, I'm newly following you in the last 1 month and am learning so much. It means the world to me . Please let me know if there is anything I can do to help you

[@DaytradeWarrior]

👍🤓

[@SEOB84]

Thanks for the video, really informative! I'm wondering how you go about the stop loss here, is it hard or soft? I believe you mentioned in another video that you usually look for a 1:2 risk:reward and that your stop loss goes below the last red candle on the 5min chart (I might've misremembered). Do you aim to sell half at 1:1 and thereby effectively have at least a break even trade or how do you go about trailing/profit taking?

[@DaytradeWarrior]

My stop is typically below the previous low of the 1 minute candle. As for taking profits, it depends on the break out and the float of the stock I am trading, the lower the float the more potential for a big move.

[@saurabh2504]

Beautiful explanations! love it!

[@DaytradeWarrior]

Thank you!

[@jlindy8381]

Honestly, thank you for all of your content! As a new trader, the information you have been consistently providing - for free - is invaluable to someone like myself! As soon as I can afford to sign up for your Warrior Trading classes, I am going to sign up immediately.

[@DaytradeWarrior]

It's my pleasure!

[@mrtrader4628]

Well Ross; I have been avoiding because one I think you go a bit to fast for me in a lot of your style of trading , but on this subject I have to admit you do a dam good job explaining level 2 , and yes I had to watch it a few times still but I do get something from it so thanks. Now If a can just get my head around HOT Keys Thanks Darren TX

[@DaytradeWarrior]

The best way for you to learn more about hotkeys 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 my 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/

[@YangsterBangs]

hi ross, you used limit orders for both your buy and sell orders right? how do you usually set these , buy at offer limit? sell at bid limit? thanks!

[@jeffreenewmanvideos]

I just started to understand this technique watching one of Hulks mentor sessions. Great to see you give a more detailed explanation on a small cap trade. Very helpful, thank you. I’m curious if you’ve experimented with using a gaming mouse for faster executions? I find switching from the mouse to selling on the ask hot keys quiet clunky. I’m also struggling going from buying on the ask to selling on the bid hand positions slow and distracting. Have you done a lesson on why you’ve chosen these positions on the keyboard? If not, would you? I’d also love to get your opinion on customizing gaming keyboards and mouses. Thanks again for all you do to educate us.

[@DaytradeWarrior]

Glad you enjoyed Divine! I prefer to use the hotkeys, but a gaming mouse certainly could work well!

[@JoseGuzmanMusic]

Great stuff dude! Really insightful!

[@DaytradeWarrior]

It's my pleasure Jose!

[@per2046]

Thanks Ross...pure gold!

[@DaytradeWarrior]

You bet Per, glad you enjoyed!

[@bizcochodulce]

Thanks Ross! Excellent explanation!

[@DaytradeWarrior]

Thanks for watching!

[@AllAboutaProphet]

This really helped me out alot with understand Level 2. I'm back in the Green because of it 🤑

[@DaytradeWarrior]

Awesome, glad it helped!

[@dynamicsalesprollc4885]

Ross, congratulations on your success! I have a couple indices/lvl 2 questions...Considering the major broker platforms; do they automatically pull all nasdaq, nyse, dow equities or do the platforms filter out certain indicies for any reason? Also, regarding for example cmeg sterling; what data am I supposed to be buying for a complete level 1&2; Consolidated A, Consolidated B, nsdq1, nsdq 2, nyse 2, nyse arca, nyse open, edgx....? What composes a "normal 1&2" book? I caught your webinar a couple weeks ago also, nice job. Thank you

[@DaytradeWarrior]

I don't think brokers filter out certainly markets. That being said, when setting up your data subscriptions for Lightspeed, CMEG, Esignal or any other market data type, we recommend getting the following: NASDAQ Total View, AMEX, and NYSE ARCA book.

[@WalkingNewYorkCity]

Thank you Ross for this golden nugget on Level 2. Do you prefer to sell on the Bid vs the Ask for any particular reason? Is it just easier to have the order filled on the bid?

[@DaytradeWarrior]

I try to sell on the ask when possible, but I sell on the bid if I am stopping out.

[@WalkingNewYorkCity]

Warrior Trading thanks for the clarity.

[@gordonraddy]

It was a rather imbalanced situation due to 30.000 shares that were built up on the ASK with only like 20.000 Bids and thus on a first glimpse you assume a heavy resistance. So, question is, Who exactly ate them up? Who absorbed those 30k shares? How did that happen? Was it via an ECN? With possible In-Between-Spread Offers? And did you identify EDGX as the AX?

[@c0maWhite00]

Super informativ, thank you alot for your content!

[@DaytradeWarrior]

Of course, happy to share!

[@afgluda]

that can be a buyer who bought at ask, so how do you know if its a buyer or seller

[@lyjiasd]

Great video, thanks for making it. Just wondering, how were you selling? By pressing hotkey? Or a limit sell order? Something else? Thanks!

[@DaytradeWarrior]

Ross uses limit sell hotkeys to exit his trades

[@berypod]

Thanks for all the videos they are very good if i may ask what you are using for scanner also about the other video today i actually took a hit today on INPX at around 11 and i just walked away from my computer, i wsan't even there to see it rip back up and when i saw your video it made me feel better Thanks

[@DaytradeWarrior]

Hey pod, glad you enjoy the videos! As for scanners I use a custom set, which all Warrior Pro members get access to! They run on the Trade Ideas platform. www.warriortrading.com/trade-ideas-review/

[@brettnielson9445]

This is an awesome video. It really helped explain level 2. Do you find yourself mostly focusing on the level 2 window, or the chart? Or both?

[@DaytradeWarrior]

Once I have my entry price from the chart I am mainly focusing on level 2 and time and sales from then on.

[@creatorlearn9109]

Thank for your video. Could you make a video " Predicating reversal or dip on level 2.

[@DaytradeWarrior]

I'll add it to the list!!

[@evoii323]

Wow best level 2 for breakout vid, learned lots

[@DaytradeWarrior]

Thanks for sharing!

[@pckroezen]

Very, very helpful!! Thanks for explaining👍

[@DaytradeWarrior]

Glad it was helpful!

[@Jason-gd5eq]

What type of order did you use to sell? In the video you sold at 5.13, 5.11, and 5.09 were they all separate limit orders or something different? Thanks for the great video!

[@farazsyed9440]

Yes I need ur book ross love watching ur updates daily .

[@DaytradeWarrior]

Faraz, thanks for sharing! 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. It's free to sign up and you will receive a copy of my best selling ebook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup

[@farazsyed9440]

@@DaytradeWarrior cool ross will do

[@christianaparo2459]

Hi Ross, Really helpful video. Thank you very much. I still have a question regarding the selling of a position. When you buy in and the stock moves that fast to sell the position I assume you have hotkeys. Are these hotkeys configured to sell the position at the MKT price or again a LMT Sell order? Thanks for reply.

[@DaytradeWarrior]

Christian you can learn more about how my hotkeys are setup here: support.warriortrading.com/support/solutions/articles/19000045007-routing-hot-keys-and-buying-selling-process

[@jimmyboris1]

Is the ask side of level 2 the most important to look at with the ticker when spotting break outs and resistance? If so when is the bid side crucial? Apart from just looking at the spread? Thank you

[@DaytradeWarrior]

Yes, the ask is the most important price for me when trading breakouts, and I don't buy on the bid unless I try to trade a dip buy. Bid is important to reference spread, and when I am ready to sell out of a long position

[@yuttabb]

HI. Thanks for great lessons. How could you tell that the big 22k shares seller was a short seller?

[@LakesideTrades]

Hey Ross! This is a great video on tape reading. One question I have is what would you do if the breakout ends up failing but your order got filled? Would you have an automatic stop loss, or a "mental" stop and get out of the trade when something wasn't feeling right. Curious to hear your thoughts. Thanks again for the L2 breakdown, and happy holidays!

[@DaytradeWarrior]

I use a mental stop loss.

[@LakesideTrades]

@@DaytradeWarrior thanks so much for the reply!!!

[@J_Cro11]

Much gratitude for you and info Ross! Are your stop orders "built in" when you buy? Do you have a certain risk spread in terms of $ when you click buy? I do not see how you are limiting your risk otherwise. Respectfully

[@DaytradeWarrior]

I do not set stop losses. I use limit orders to exit at the moment my stop price is hit. If by risk spread you mean how much I'm willing to lose on the trade, usually no more then $2-4k.

[@paulieq6201]

Level 2 is your best predictor of the direction! I learned this very quickly & has been the backbone, I only use to read the chart lol I find myself holding longer with an understanding of L2, sometimes I even buy right into the ask if I see the sales printing & the BID is thickly stacked

[@DaytradeWarrior]

It's certainly a helpful tool!

[@allegorx58]

It’s actually pretty antiquated but okay

[@peaceandlove40]

level 2 confueses me , sometimes i see a walls of buyers but price stilll goes down or a walls of sellers and the price still goes up !!! need help plz .thank you

[@LinhHLe]

@@peaceandlove40 that orders for getting out and they all eaten out

[@thinkittoitstudies]

@@peaceandlove40 I am with you completely....I am at a loss with that myself.

[@DjanCarnary]

Fantastic explanation of level 2 :D

[@DaytradeWarrior]

Thanks for the feedback, glad you enjoyed!

[@dylanbarrera]

Hey Ross! you’re probably the only person who gets me ! So I’ve been developing & identifying this exact set up! Just happen to come across this video. This type of set up is the only one I truly get and I have an edge. You know, if there’s a big block order on l2, and buyers eat that up- shows huge buy strength. Not to mention the shorts covering cause that l2 seller didn’t hold has they expected.... anyways. So as I’ve been developing my strategy( which is literally this) I have been placing market orders as soon as I see the offer get lifted. My fills at the so great... would you say to place limi orders, like 1-3 cents above that block order? These types of trade we have to grab that initial pop .

[@dylanbarrera]

My question is how do you get filled with buy limit as you do when it popped? Would you use a buy stop?

[@benthomson4695]

Hi Ross (I've been going over some of your old video as they are always so helpful)! would you mind clarifying something for me please. In this video is your signal on the L2 to hit the buy button down to the fact the big buyers order of 220k is being brought up, indicating the stock will shoot up a lot due to the big position of this buyer? Also as your order is at level $4.96 just above the 220k order at $4.95, do you place your order just above like this; to insure the big buyers position gets filled/ giving you confirmation of the move long? Many thanks, and thanks for all the great incite into trading you provide, hopping to join WT soon!

[@DaytradeWarrior]

Yes the big buyer is an indication price will move up, so I like to get in right after they do

[@dannyboy9784]

Thanks Ross, love the way you trade...learning from the master....getting setup with TradeZero and I'm trying their ZerPro platform in SIM mode, I setup my HotKeys and It makes a great diff....from night and day how fast you can get in and out of trades.....I love that they have a liquidation function that you can setup to liquidate a % of your open portfolio....since I only trade 1 position at a time, I setup a few diff buttons to liquidate at 50% and another at 100%, this way i can scale out of a position with a hotkey...cool platform and it seems to be very fast executions..at least in the SIM mode, I'm sure its no diff in real mode.

[@DaytradeWarrior]

Awesome, glad to hear it!

[@castortroyro2060]

hy man, just started tradezero as well, trial lasts only 7 days though, do you make another trial after the 7 days ?:D

[@Jordan56853]

I'm still learning and love your content so much. I got a bit lost on how to identify the big sell block got taken down though?

[@DaytradeWarrior]

Learn about Ross's Strategy and our Courses here: www.warriortrading.com/strategy/

[@malcolmneme6924]

The quickness is crazy

[@DaytradeWarrior]

That it is!

[@susankariuki449]

@@DaytradeWarrior what percentage does lightspeed give in options trading?

[@davidhuot2867]

Yeah for now Ross is Magic Ross, so quick, I have to rewatch again and again....

[@MrColesy1]

Ross, I am quite new to this so I apologise if this is a stupid question. May I ask why you waited for the seller of the 22,800 shares to sell off most of their shares before placing your buy order at 4.96? This looked to be a fast moving share and so that sell order would surely be filled pretty quickly. By delaying putting your limit order on the book could you have risked not being filled at your 4.96 price?

[@eagleitrader9632]

oh yes! only a few seconds into the video and i'm excited. okay, let's go!

[@DaytradeWarrior]

Love to hear it!

[@allegorx58]

who tf posts comments like this

[@jasonmccorkle8760]

Thanks man

[@raoulturnier6804]

Hi Ross, I'm a WP student, I really enjoyed this video. I think we need more like this, since L2 is the language of day trading. I think we all "understand" it (L2) but we can't "read" it proficiently. May I suggest that u add a L2 vidéo as a class explaining the tips and tricks u use while trading, similar to this one. I think it would make a world of a difference for all of us in the chat room. Thanks in anticipation of giving this matter ur attention. Best Regards and continued success.

[@DaytradeWarrior]

It's something that takes time to learn, appreciate the feedback! I'll be sure to keep it in mind 👍

[@FranciscoHernandez-rj2dc]

Wow, how is that not in the class? Learning the Level 2 & tape, (The order flow) IS the MOST important thing in trading. This is what will tell you when to buy the dips, the breakouts, and when to sell!

[@loidlilpeep503]

Awesome clear lesson. I was however confused to how you knew the price was going to saw past the resistance. I thought having a bounce back on a same high shows signs of a reversal and in this case change from a bullish to bearish trend. Thanks Ross!

[@DaytradeWarrior]

If you haven't had a chance to attend yet, the best way for you to learn more about this 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/

[@loidlilpeep503]

@@DaytradeWarrior Thanks, will do!

[@Steven-ji7sc]

Had the same question. If you look at the actual orders going through ticker you see his theory of it going about 4.95 is coming true. You would think seeing a large sell order would push price done, but remember on Level 2 those orders are unfilled till seller's order is filled or seller pulls out. But either way the ticker shows the price going up. Hence he placed a limit ordered and account for a stop loss if the price did not go up. He bought as he saw traders buying at 4.95 on ticker. When he noted enough he pulled the buy and he was right on the money. If he noted not enough orders completing at 4.95 he would held off is my suspension or shorted the trade. Additionally he "knew" the price would go above 5:10 as there were some sale orders at that price and above on level 2. Ross great work on video. Thank you for sharing your experience.

[@christopherkennick9156]

Too good! Thanks, Ross.

[@DaytradeWarrior]

You're welcome Christopher!

[@nazeerabuchaar7635]

Thanks for the tips my guy

[@DaytradeWarrior]

You bet Nazeer!

[@RMPM.]

Very helpful video, thank you.

[@DaytradeWarrior]

You're welcome Maxx!

[@Tony-is6yp]

Please clarify: Do you think TOS level 2 will show the “big buyers” ? Are the level 2 platforms almost equal? Is it good enough since it’s free, or would there be benefit to switching to light speed in regards to just the level 2?

[@perehurtado4868]

Thanks Ross! I’m a noob yet so I have some doubts in the easy things... 7:10 why do you put an order of buying at 4.96 and when the orders turns into a position, it says that you have bought that position at 4.95? Shouldn’t that position be bought at 4.96? Cheers!

[@DaytradeWarrior]

The order will fill at the best price available up to $4.96 so if there is a better price available I will get filled at that instead

[@EastMichelle]

Great video Ross!

[@DaytradeWarrior]

Thanks a lot!

[@swingtradeangel6721]

Good information thank you for sharing.....

[@DaytradeWarrior]

You're welcome!

[@jeffreyfahie1502]

You read my mind. I just started using level 2 this week and its literally another language.

[@RawNoLimits]

@@andrewlapensee Exactly that. 😂🤑

[@DaytradeWarrior]

haha hope this video helps!

[@HankWright777]

Hey Ross great video. Quick question, why do you use NSDQ-LS as your market? Does that matter? On CMEG ive used ARCA as destination but didnt really know why.

[@DaytradeWarrior]

hey! it doesn't make a big difference, any direct route is good!

[@OfficialNAZRT]

Very helpful info. What clues do you look for that tell you if that big seller is short or long? Because I know that helps influence your strategy moving forward, and I'm not sure how to make an educated guess on that.

[@DaytradeWarrior]

It's hard to know for sure, though I like to use the chart to determine price trend, and if I see heavy selling on every breakout I am going to be wary of the stock.

[@nissimyaltzindeg6995]

Hi Ross, thank you for the extremely relevant video. Quick question, in all the readings - either the Bid side or Ask, how do we know if they are buying at that price or selling; what was the indication that the seller (2:51 on the video) is an actual seller not a buyer?

[@DaytradeWarrior]

Thanks for sharing! If you haven't had a chance to attend yet, the best way for you to learn more on this would be to join us in the next 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/

[@boss99gt]

Great info thanks Ross!!!

[@DaytradeWarrior]

You're welcome!!

[@Hknasw]

If traders can use hidden orders then what is the point of using level 2. If a 1000 share order can be 10,000 then wouldn't that make Level 2 useless if people can hide their orders?

[@samuelj2408]

I legit only watch your videos, miles ahead of any other KZbinr.

[@DaytradeWarrior]

Thanks Samuel!

[@den794qynn618]

Thanks! i had this question on for level 2 prints : when stock is weak, green transaction on prints should be considered long or short bias ? usually its a indication of bullish signal when stock is on uptrend but i think its bearish signal in a weak market ?

[@DaytradeWarrior]

Context of the chart does matter. Ross will generally used reading the tape to judge and entry based on the chart, rather than paying attention to all order flow.

[@mmomran]

Thanks Ross for this great video. I was wondering why you split the amount of share you wanted to buy into 3 orders not just one order for all?

[@DaytradeWarrior]

thank you! I scale in/out of most of my trades. I'll trade more shares if it's going up, or stop adding if it's not working.

[@MrMulkerrins]

How do you know if they're Buying or selling just by looking at level 2!???

[@jrenoe1]

Hi Ross. Your content is amazing. Thank you! A quick question - @ ~ 10:36 you're counting down "16, 14, 13" just before this candle pops upbut I am not sure what those numbers correlate to on the screen. Can you help me? Thanks again! --Jerry

[@DaytradeWarrior]

He was referring to the number of shares available at the ask, which showed 160, 140, and 130

[@jrenoe1]

@@DaytradeWarrior Got it! That makes it very clear. Terrific video and account!

[@awhs5435]

This video alone is worth a million dollars. Thanks for the info as always Ross!

[@DaytradeWarrior]

You're welcome!

[@awhs5435]

@@DaytradeWarrior Hey Ross, I have a quick question actually, when you go to sell, are you using a hot key to sell and have those hotkeys setup to sell 1/4 / 1/2 / Full order sizes or are you putting in a LMT order on the sell manually for half the shares? Do you put in a LMT sell @ the bid manually or are you just having he broker automatically sell at the bid? Thanks!

[@tomahawk9415]

Finally someone made it easy! Thank you so much Ross! One question though as i feel confused, which Market data Subscriptions do you have sub'd to? It's a bit confusing for me and i dont know which one to activate

[@DaytradeWarrior]

Hey Tom, you can learn more about market data here: support.warriortrading.com/support/solutions/articles/19000110555-what-market-data-should-i-use-for-trading-

[@tomahawk9415]

@@DaytradeWarrior thank you so much Ross! Keep up the amazing work! Love your work

[@alv9605]

Ross, I really appreciate what you do. I’ve had decent success in the past years. This year I started trading again. 11 weeks, I’m up 50% on my account. I’ve learned alot from you buddy. I wish you the best of luck and will continue to learn from you. 👍🏻

[@DaytradeWarrior]

thank you!

[@futureman8340]

You know, in Russia we are used vertical lvl2, we call it - trading glass...Sellers above, buyers below it really more easy... lvl2 on America really confuse, because sellers are turned over 180 degrees....

[@DaytradeWarrior]

👍🤓

[@christianmaitner1403]

Thanks Ross! Great reminder! I'm glad, but why wouldn't that big seller hide his order?

[@DaytradeWarrior]

Not sure, maybe he wanted to scare longs, hard to know for sure.

[@csmith6278]

Love those setups

[@DaytradeWarrior]

Thanks!

[@davemcavene]

Hi Ross, Do you do any webinars on the weekends? I have been wanting to get in on one very badly but I work 10-12hr days during the week and can't get enough time in for lunch most days and can't be on my phone at work. I already have your book and it has been a great read.

[@DaytradeWarrior]

Hey David, You can sign up for my webinar here: webinar.warriortrading.com/signup

[@jpeezy3m6]

Whats the significance of the colors green, red, yellow and blue? So you buy once the sellers buy to regain their loss and once buyers see the breakout? Sorry im new to level 2

[@DaytradeWarrior]

Jpeezy I go over level 2 in much more depth in the Warrior Pro courses, you can learn more about that program here: www.warriortrading.com/warrior-pro-info/

[@gruposcalybursadecv997]

This is a setup for a break out on a stock. but usually do you look at the last number on the bids? to go long and see if ther'es support? or just look at the ask (sellers) for a breakout?

[@DaytradeWarrior]

Hey Grupo, Ross answers these questions and many more 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/

[@akafrancais2182]

hey man, in this video did you place your sell order with hotkeys?

[@DaytradeWarrior]

I sure did!