How to Use Level 2 Signals For Day Trading

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#daytrading #stockmarket
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[@tammysantiago9180]

WOW. Tremendous teaching. I keep hearing these gurus say how much they use Level 2 but they can’t explain it. This is the clearest explanation and I really expect this to positively impact my trading. Thanks a million. God bless you.

[@carlosm328]

Thanks Tammy! Glad this was helpful! Please let us know when you apply it to your trading strategies! God Bless.

[@tammysantiago9180]

I used it today trade IQ at the open and it worked like a charm. Then I scalped IQ around 9:50 am and later in the day. All green trades. You have no idea how much confidence this has given me. And like you said, use it with bull/bear flags and triangles. Now I’m just wondering if I should use it to anticipate entries instead of waiting for the confirmed breakout, which would be entering much higher. I’ll see which one I’m comfortable managing. But again thanks a million.

[@carlosm328]

Tammy Santiago IQ was nice! I took an opening range break up on it today as well! Either system works well but try it and just journal results to see which one best fits you.

[@davidjames3668]

My question Is where those big bud orders eating through key levels or just random opening bell price action? I wish the video showed examples later in the day price action.

[@leokarawa4354]

Best L2 lessons I have watched so far. Thanks Carlos for great context. Very simple and clear explanation with great examples. Thanks 🙏🏼

[@eltigeredela134]

I agree 100%.

[@carlosm328]

Thanks Leo!

[@ryanbloch4553]

One of the better illustrations on level 2 that I have seen yet. Thanks carlos for breaking it down

[@carlosm328]

Your welcome Ryan!

[@Vikingnova1]

Interesting lesson. I have watched so many L2 vids and have always walked away with the opposite understanding- large orders on the bid being an area of support and large orders on the ask being resistance. This video gives me a whole new perspective. Thanks for the video, Carlos!

[@dontrinh7686]

This makes me look at level 2 completely different. Other traders explain it in a way where we all think it is the opposite effect that is occuring. Thank you so much bear bull traders! Thank you so muh carlos!

[@warwicknexus160]

This video is phenomenal - the ultimate Level 2 demonstration. Carlos - you rule!

[@nigel637]

Excellent video. Best break down of L2 I've seen so far.

[@carlosm328]

Thanks Nigel!

[@tuckebarry]

Best video on L2 as others have said! Thanks champ!

[@cindilewis9]

Most helpful video on L2 I have found to date. Thx, Carlos!

[@chrisfacey6679]

Best Level 2 I have seen thus far. Great Video!

[@BearBullTraders]

Thank you Christ!

[@snr2050]

Great explanation! Thanks for helping clear up my fuzzy L2 understanding!

[@hellbentnm]

Super informative, have been reading How to day trade for a living, and enjoying every second of it. I've only been paper trading, but i'm seeing some of these trends and have had some success with it. Great explanation throughout the video as well, really honed in on some of the things I was trying to comprehend but could quite place my thumb on it.

[@marcolux4493]

Such a valueable video. Thank you so much for this content.

[@BearBullTraders]

You're welcome! Thanks for watching!

[@AM-qp8pw]

Very underrated content on Level 2! Glad that I popped by your channel after watching your podcast with Humbled trader Thanks Dr Andrew!

[@BearBullTraders]

Great, glad you watched Shay podcast!

[@nonamenonamenonamenonamenoname]

Thanks!! Awesome, love watching that kind of recaps with level2 and time and sales. We are always going forward....

[@carlosm328]

Vlad Hey! Agree always have to keep an opening mind and learning there are so many ways to trade and tools to use is great to see how other traders are using them.

[@pingdis]

Awesome walk through of Lev 2! Thanks Carlos.

[@carlosm328]

Thanks Brent!

[@8aNutritionLtd]

One of the best videos on level 2 I've seen, thanks Carlos, would love to see some more of these

[@carlosm328]

Thanks Thomas! We do plan on making more like these very soon.

[@bobbysinks6085]

best video lesson on level 2 I have ever seen.......thanks for the video......this helps a bunch

[@BearBullTraders]

Thank you Bobby! Glad it was helpful!

[@ricardomolina6067]

It so hard to decide which BBT trader is my favorite. All of you are amazing and always uploading good videos.Thanks for sharing your knowledge!

[@carlosm328]

Ricardo Molina Thanks! We appreciate that, is great to be part of this amazing team.

[@KodiakKen]

Excellent video, really good information on interpreting Level 2 data. Thanks Carlos!

[@carlosm328]

Thanks William!

[@ccamol]

Great video Carlos.. very neat & focused. Thanks a lot.

[@carlosm328]

Hey Amol, glad it was useful!

[@steveleahy796]

What a great video and explanation! Thanks!

[@mkurka]

Great peak into what BBT offers in their education classes. Very informative

[@carlosm328]

Thank you Maciej!

[@andrewagliata9554]

Great video. Thanks for sharing,bro!

[@gmiles119]

Great job from start to finish Carlos. Thank you.

[@carlosm328]

Hey Duane thanks!

[@rafaelcastrorivera9332]

Wow..!! the best lesson of Level 2 ever..!! Thanks man.

[@BearBullTraders]

Glad you liked it!

[@rogeliohernandezaguirre3749]

An amazing explanation, thanks Carlos!

[@BearBullTraders]

You're welcome!

[@pedromacedo6202]

You guys are unbelievable! Thanks you! Cheers from Portugal

[@BearBullTraders]

Thank you so much for watching!

[@juanvargas912]

Excellent video carnal. Probably the best L2 video i’ve seen.

[@carlosm328]

Dimelo Amigo! Thank you Juan!

[@kareemd90]

Fantastic Video!

[@gregdebenedetto223]

Loved the video, especially the examples!

[@carlosm328]

Thank you! Hope you are well!

[@sergiomuniz350]

Great video

[@vijeshvijayakumar3113]

Fantastic information

[@carlosm328]

Thank you Vijesh!

[@ganeskmr]

great video Mr. Carlos sir. thanks

[@carlosm328]

Thanks man!

[@domiflichi]

Thank you Carlos (and Andrew)! Great video, very informative. See you in chat tomorrow

[@carlosm328]

Thanks Domiflichi!

[@yonchu747]

Awesome video!

[@sandrafox]

Great teacher! Thank you.

[@BearBullTraders]

Glad it was helpful!

[@downuk]

Wow man finally someone managed to teach me the tape. Thank you carlos youre a good man

[@RegencyWealthManagement]

Best video on this subject I have seen. Good work Carlos

[@BearBullTraders]

Thank you Matthew!

[@Prasannakumar-yk7bf]

Useful, informative and a great video. Thanks Carlos.

[@carlosm328]

Thanks Prasanna!

[@omowaleaiyenuro7107]

GREAT CONTENT

[@carlosm328]

Thank you!

[@hotmasked1]

Thank you Carlos Excellent Video and example.

[@BearBullTraders]

Glad you liked it!

[@rogisotnas]

best L2 video on You Tube, you just provided me a aha moment!!! thank you!!!

[@BearBullTraders]

Glad it was helpful!

[@xezaro]

Great video. Carlos thank you for sharing

[@carlosm328]

Thank you!

[@dontrinh7686]

Like what everyone else said in the comments, most straight up explanation of the level 2, thank you for sharing carlos!

[@bs65]

Thanks Carlos ! Very informative ...

[@carlosm328]

Hey Bal! How are you? Glad you liked the video.

[@Indigenousim]

That was great thanks

[@thomasq9181]

Very detailed ...Thank you!

[@carlosm328]

Hey Thomas thank you!

[@lolasan7697]

Great video, Carlos! Thank you

[@carlosm328]

Thanks Lola! Glad you found it insightful!

[@westcoastkicks2411]

Awesome information. Thanks a lot Carlos

[@carlosm328]

Hey West Coast Kicks, Thanks! And hope all is well.

[@qaisurrehman]

great video on level 2 thanks carlos for your help

[@carlosm328]

Thank you, it is our pleasure!

[@grltrader]

Just found this video.. great stuff. Thank you!

[@BearBullTraders]

You're most welcome! Glad you enjoyed it!

[@yanknoz9710]

Thanks Carlos. I am currently learning the L2 . Still finding a little difficult but am making progress. This recap was clear and I'll be trying tomorrow. Just watched Thors recap on this as well. Great educational resources at BBT. Best investment I have made. Cheers.

[@carlosm328]

Thanks Yanknoz! Glad you are with us!

[@jyy5386]

thank you for this video! very good explanation.

[@BearBullTraders]

Glad it was helpful!

[@TradingPriceAction-ok1bd]

Great video Carlos good job!👍👍

[@carlosm328]

Thank you! 🙏

[@chuckgish5637]

Thank you for this!

[@BearBullTraders]

Glad it was helpful!

[@fgomecs1]

This was an awesome video @carlos and @andrew. Thanks!

[@BearBullTraders]

Thanks for watching!

[@acorntraderss1659]

Awsome! Great job man!

[@carlosm328]

Thank you!

[@arthurisa7517]

wow, amazing video ! thank you

[@BearBullTraders]

Glad you liked it!

[@millenialbachelor6956]

Hey Carlos, Thanks for the lesson!

[@carlosm328]

Millenial Bachelor Your welcome!

[@JaimeMeraz8]

Great info! Thank you!

[@BearBullTraders]

Glad it was helpful!

[@marekliyanage9279]

Great video Carlos!

[@carlosm328]

Thanks Marek! Saw you had an amazing October, closing out really strong. Nice work!

[@brianhard-workhogan5393]

Thanks for making such a great video!!

[@BearBullTraders]

You are so welcome!

[@FelipeBuilesLoaiza]

Pure gold here. Thanks.

[@carlosm328]

Gracias Felipe!

[@juancarlosguzman2827]

awesome video thanks for sharing, OMG I thought it was the opposite when you got a lot of order on the bid it was a bullish sign!

[@ThinkAndGrowAwesome]

Thanks for the great lesson!!

[@BearBullTraders]

Glad you liked it!

[@anishjariwala2584]

Amazing teaching!

[@BearBullTraders]

Glad you think so! Thank you!

[@rawfit4960]

Very informative! Thank you for the explanation.

[@carlosm328]

Hello, Wise your welcome! When we record more examples we can make a shorter video to show the action and how often this occurs.

[@rawfit4960]

Carlos Moreta 🙏🏾🙏🏾💯

[@jonathanlee5185]

👍Great teaching.👍

[@BearBullTraders]

Glad it was helpful!

[@the_noble_lefty]

Great Video!

[@carlosm328]

Thank you!

[@Hhumdsh9132]

Damnnn you are the best bro

[@mardipring9446]

Thanks Carlos, one of the best videos put out by the BBT community.

[@carlosm328]

Hey Mardi, thank you very much. Hope you doing well!

[@mardipring9446]

@@carlosm328 Yes i'm doing great, ABCD pattern waiting for 15 min into the market open has helped me out alot.. just being patient with quality setups works better for me than trying to take the trade right at open

[@carlosm328]

@@mardipring9446 That's gerat man! Sticking to one pattern and mastering helps with consistency. Glad to hear you are doing good!

[@enzoben941]

Great video!

[@carlosm328]

Hey Enzo, thank you!

[@brucemasson]

i new i wasn't crazy. Great info.

[@carlosm328]

Thanks Bruce and welcome!

[@osakann]

Thank you!

[@carlosm328]

You're welcome Osakann!

[@erciliaencarnacion3644]

Great explanation!

[@carlosm328]

Hola Ercilia! Thank you!

[@myo3387]

Thank you so much

[@BearBullTraders]

You're most welcome

[@superinvandrare9326]

Pure GOLD. can you please make more videos like this.Can you plz make a video and explain volume. whats a good volume? on a stock and whats a bad volume? on a stock

[@carlosm328]

Super, we absolutely can. Let's see if we can get some video examples on this. Everything is clearer when you have actual recordings of the action. Let's see what we can come up with.

[@superinvandrare9326]

@@carlosm328 thank you. Bearbullmember

[@jeffa7083]

Thanks, Carlos!

[@carlosm328]

You're welcome Jeff!

[@yassineelhaddadi5281]

Best explanation of L2!

[@BearBullTraders]

Glad it was helpful!

[@AchrafDhayni]

thanks a lot.

[@carlosm328]

Anytime, glad you liked the information.

[@brendond747]

The man in the flesh CaCaCalos, thanks for providing L2 indicator content.

[@carlosm328]

B D lol , You're welcome!

[@cao2019]

great video. just bought the books. need to know more. simple questions: how will big bid volume will drive the price down? how will those big buyers (at bid price) will be able to make money if the price is going down? all the other text book says big bid order will drive the price up based on demand/supply imbalance.

[@keen2461]

This is a very interesting topic which I've been trying to understand and hopefully master someday. On your approach to see big orders, it'd make more sense to see those orders as Stops and not traders wanting to get involved on trading on the opposite direction. Maybe that's why price tends to move towards those orders and filling them passing through them (but not for too long). That would be what is called Stop hunting (which is something actually exist). Well, food for thought on this interesting topic. Thank Carlos for this video.

[@carlosm328]

Yes thanks Elkeen, correct it can be traders trying to get in or out of their position creating a huge Bid or Ask.

[@coryshol]

When there is a big buyer there are many scenarios that can happen. If you go through all of them than you are prepared. So you have to know the if than statements (If something happens do this else you should do something else). For example if @ 10.50 on CRON you see a huge bidder and 500000 shares and people hit the bids and it goes to zero (I get short as it gets close to zero) and then drops rapidly that is bearish and you are expecting a explosive move to downside. If 10.50 goes to zero (I get short before it goes to zero) and goes to 10.49 and then quickly reclaims 10.50 and I am short at 10.50 I am not happy about it. I expected it to be an explosive move to downside as soon as 10.50 got lifted. I should get out and re evaluate. Scenario 3 If 10.50 goes to zero (and I am short) but refreshes over and over and holds the bid then I am thinking I should cover my short and Now I am going to get long risking a break below 10.50. Scenario 4 if big bidder at 10.50 and I don't see people hitting the bids/low volume I might want to get long at 10.51 ahead of him and use him as a stop. There are more scenarios but basically with a big bidder or offer you can find really good risk reward plays where you risk a couple cents to make 20 cents - 1 dollar.

[@jinyboi]

@@coryshol excellent answer. thx buddy

[@caseygatesrolfing]

Hey Carlos, this video finally made a lot of stuff click for me regarding price movement. One thing I'm trying to understand, where are the shorts and their covers? I get that buyers are the bids and sellers are the asks. If someone is going short are they under ask and when they cover are they under the bid? Part of me thinks that it's the other way around because technically they never bought the shares to sell. Maybe that's where the correlation between volume and L2 is. Lots of buyers with low volume would be shorts covering? and lots of sellers with low volume would be Longs taking profits? Lots of buyers with high volume would be longs entering. and lots of sellers with high volume would be shorts entering? Man, the more I think about it the more confused I get. I know this is a ramble but any advice you have would be much appreciated. Thanks buddy.

[@JAYX1NE]

Loved it. Hey Carlos maybe you can do a video comparing TOS level 2 with DAS Level 2 so people can see the difference and the lack of depth that TOS offers. I have compared them and many orders do not show up on TOS, including these big orders Andrew looks for.

[@sethaldrich6902]

I think you have to have the $200 one in order to see the most depth possible in Das, I'm making the switch now.

[@sethaldrich6902]

actually nevermind, the $150 one will work but see my above comment about changing the tiers to see more data

[@carlosm328]

@@sethaldrich6902 Yes $150 works perfect $200 is not needed but if you are with IB you can get the additional info with extra cost to BBT members.

[@sethaldrich6902]

Ok guys, we were having a discussion in the room today and I figured out why I was not seeing as much level 2 data thanks to Thor. You have to right click on the level 2, go to config then there is the tier section, you need to set the ARCA and others to much higher than 5, more like 20 to see more data.

[@carlosm328]

Hey Seth correct! Thanks for sharing!

[@sethaldrich6902]

@@carlosm328 yeah I think alot of people didn't know that and were missing that data when all they had to do was enable it!

[@jasonlantin9260]

MY Time and sales is completly different opposite colours ask is red and bid is green why was that? when i got das trader it was set up default that way..... your videos are so good. thanks alot

[@TJ-ho4st]

Can you explain how more buyers would drive the price up as well in comparison? Otherwise this was very interesting to watch live especially

[@markh5268]

Traders buy shares for both long and short positions. My thoughts on large amount of bidders are people taking profit by buying back a portion or all of their short positions.

[@carlosm328]

Correct I am sure there were many there looking to be exit their position. The idea is there is a transaction happening between 2 parties buyers and sellers. Let's say there are all covering some else is picking them up.

[@b2andre]

I've always been told when you see large orders at or around a certain level on the L2, that it creates a level of support(or resistance)This video seems to contradict that notion entirely. Can someone clarify please?

[@Fluegame5]

Can the part where he explains how large amount of bids/asks (out of the spread) corresponding to bearish/bullish behavior (around 10:50), respectively, pertain to short sellers setting their take profit (on the bid) and long buyers setting take profit on the ask ?

[@BearBullTraders]

Huge bids could be fore sure sellers trying to get their profit, which means that they believe that the price is dropping into that area, which is a bearish sign if you are looking for a short, and vice versa

[@kilamkam]

Just WOW.. Like.. Almost everything else Ive seen on lvl2 says huge orders on the bid indicates price will move to the upside.. Would that be the case if those huge orders were closer to the top of the list on the bid?....

[@BearBullTraders]

If buyers eagerly absorb sellers supply we can expect a price increase. Thank ypu for watching!

[@hotmasked1]

Can you show a bullish version with level 2?

[@BearBullTraders]

Watch our L2 videos here bit.ly/3N0u2Cz

[@marvinwilson7568]

why are huge orders on the bid side bearish? you would think if people are buying the bid is will go up right?

[@BearBullTraders]

Big bids DOWN the L2 mean bearish, buyers are patiently waiting for the price to come to them. Those orders take the price down.

[@dealstobid]

This is my current edge is to look for big-level signals. But remember guys, always get out if the large level disappears sometimes.

[@drewdesimone4778]

Hey Carlos, so I have a question that maybe you can answer or maybe not. I used TD Ameritrade and feel that I do not see these large order on there. Is this the difference between TD and DAS trader level two data? Maybe I am missing it but like I said I feel like I don't see the large bid and asks

[@carlosm328]

Drew that is a great question. I have a TD account and will be making a video in the near feature comparing TOS to DAS, I love TOS but DAS is soo much faster in regards to price action and level 2. You should be able to see bid and ask on TOS, I will make sure to include a more in-depth answer on my video.

[@drewdesimone4778]

@@carlosm328 Thanks Carlos!

[@drewdesimone4778]

The main reason I asked is because Id like to trade with how bearbulls uses the level 2, but if TOS doesn't show those large bid/ask, it makes it tough to use as a tool

[@carlosm328]

@@drewdesimone4778Agreed it does make it difficult. This is why DAS is great because of the speed of the data design for active traders. Which TOS is really not.

[@acorntraderss1659]

Can you guys make a vid about tape reading?

[@carlosm328]

Hey Acorn! Yes, we have to add this to the list for sure. Thanks for the suggestion!

[@acorntraderss1659]

What about options?! Thanks for all you guys do. Made some fake cash twitter and eBay today You a good man @Carlos Moreta

[@carlosm328]

​@@acorntraderss1659 Nice! I do not know how to trade options but would love to hear in the future. There are some members of the community that are trading options as well.

[@acorntraderss1659]

Any vids on options from the community?@ Carlos Moreta

[@Fm-ho8kc]

Thanks a lot Carlos!! What is the difference between $150 and $200 packages for DAS+IB?

[@sethaldrich6902]

I'm using the $150 one right now and I don't see nearly as much depth as on Andrew's recaps, he is using the $200. After finally realizing this after struggling to read the tape for months, I'm making the switch over to it.

[@coryshol]

Seth Aldrich If you dint trade options you can swap ARCA book for the options level 2 and still remain at the $150 price point. Just a tip for you.

[@sethaldrich6902]

@@coryshol and that includes all routes or as much market depth as is possible with das?

[@coryshol]

Seth Aldrich open up a chat with das trader pro and ask them.

[@BearBullTraders]

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