Reading Level 2 Was HARD Until I Learned This Easy 3-Step Trick

[@419-m9u]

clarifying when you look at the level 2 and when you look at the charts. that was a huge gem thank you

[@archetype1987]

Ross has been dropping HEAT all month. What did we do to deserve this?

[@AbsoluteJ-uu2tz]

FACTS

[@jaydonnethery5559]

we could never be worthy of papa ross

[@blueboyd5297]

Yea he really has. Really like pertainent stuff!

[@jcole4819]

💯

[@Percalator]

No I thought I was tripping or he was just too genuine it’s crazy bc he’s getting more active when the market is at its most volatile moment like gme and just now nvidia

[@mr.futurestrader2115]

I’m 7 years in and just now getting into level 2. I’m decent but need to get to the next level. I think this is it! Videos like this help a ton!

[@Jake-xe9kt]

I agree Ross that TOS could definitely be improved in its Level 2 module and stock scanner such as adding in the float as a selection criteria. Getting back to TOS's Level 2, I do two things many might not know about. 1. I expand the default view by clicking on the drop down in the upper right corner and selecting the Nasdaq Order Book. 2. I then detach it to the right side of my screen and back on my Flexibke Grid, do the same thing but open the BATS Order Book and detaching that Level 2 to the right of my screen next to the detached Level 2 of the Nasdaq Order Book. I then drag both modules down the full side on the right of my laptop screen. I only take a trade when both detached Level 2 order books shw more buyers than sellers. I think you understand this but hopefully others can figure it out. Occasionally I take a trade when both order books buyers and sellers are equal and filled up but I try to stay out of congested stocks. God bless. Jake

[@Rick-lm2tt]

Jake do you have a video on how to do this?

[@DeandreMccullum]

Make a video.

[@kota2223]

Some level 2 allows for highlighting extra large orders in level 2. i set up das trader to highlight any order > 100k shares with a white background and red text. if i see that, i immediately know to keep my eye on it.

[@jesusnieto6911]

THIS was the video I needed. Thank you so much for just being as open as you are, eventually i hope to be investing in your course.

[@DwayneS777]

Game changer! Keep 'em coming Ross on Level 2.

[@yacineamdaoud7031]

The way you moved level 2 to the right side of time & sales when you supposed you were a short seller says a lot about how efficient you are ... Love that man ! Thank you again for explaining so easily what no one could IMO cheers

[@ArcGlowingVision]

This was really confusing and will need to invest time in it, however you've got me pointed in the right direction. Wonderful breakdown. Look at the pattern then confirm with level 2. When a ton of green orders roll in, but price is stationary, look for hidden seller (iceburg). Look for half and whole dollars on the level 2 and tape. Great education Ross. Have a fabulous day! 🍰

[@bajektechbytes]

every time i'm stuck or had a couple red days magically a video on a topic I need to go forward shows up. Just another piece to my trading puzzle. Your morning lives and chat helps a lot too

[@stellach2571]

I had problem comprehending trading in general. I tried watching other KZbin trading channels, but they made the concepts more complicated. I was almost giving up until when i discovered content and explain everything in detail. The videos are easy to follow

[@DaytradeWarrior]

Glad it was helpful!

[@williefaison3200]

I'm just amazed at how you are always simplifying trading methods... I've been watching you way too long without pulling the trigger to personally change my own success in the market.

[@6mallards]

Another great teaching Ross, see you Monday morning

[@Beauchot78]

Thank you for the detailed description on how you handle the L2. i also watch the ask and green on the tape to punch it.

[@DaytradeWarrior]

Right on!!

[@Robi-jw7fc]

I really like it how the quality of the video has now gone up to 4K. I really enjoy watching your videos

[@clickbait9256]

please make a video REPLAY showing how you use Level 2 when trading

[@tonycampbell4663]

Thank you for sharing your knowledge for free on KZbin. You are my first stop for all trading content.

[@5GWGuerillaFighter]

@21:34 Unconcious competence derived from effortful habit forming, which ultimately inculcates a dynamic understanding of the data.

[@earlwayne5472]

Thank you Ross. Excellent video!

[@sstuff66]

Thank you Ross! As always great lesson.

[@robertwalker9515]

great vid, thanks brother

[@boa4582]

Ross , i think you’re a blessing 😂 I just thought about getting more education on level 2 since i wanna be good at it and improve my self. And you uploaded a video ! Thanks ross!

[@Vade1313]

Thanks for the Vid!!

[@Jam3sLow8558]

Humbly giving unconditionally is your greatest strength, for that god blesses you with wisdom, power to succeed in everything you do. Big fan of your work and life lesson, THANK YOU! shout out from Singapore💪

[@FranciscoColonJr]

Thank you for finnally explaining this...which TOS would revamp the Level II...I have just used the Time in Sales to guide me which direcction it was going but with your explanation of the hidden seller show casing 100 on the Time Sales...makes sense. One way to suplement the TOS level II....

[@Roughneck7712]

What’s really sad is the ToS mobile app now has a Level II tab that shows colored prices (like how Ross has his L2 setup) but nothing within the desktop version allows users to change L2 formatting to match what the mobile app does. It’s pretty ridiculous imo

[@SalahGrey]

Exactly the video I was waiting for!

[@TinkerandBuild]

So so good man. I've learned a ton from you in the last 2 weeks.

[@DaytradeWarrior]

Thank you!

[@hunter4783]

Good lesson today 👍❤

[@debra9853]

I bought your book today. Can't wait to get it. I'll get mire books an candles interpretation. Next month. I have a list that you suggested and a few more

[@ThomasRobert-xb4yf]

Wow! Masterpiece..

[@is-ma-elditoro6100]

Outside of contact amazing production quality

[@jjakehicks]

My Sunday fix… thanks Ross!!

[@JackDespero]

It would be great it these tools allowed you to put subtle color differences on the Level 2 depending on the volume of the the contract. For example, light green for normal lv 1 and very bright green for lv 1 orders of more than 100 shares.

[@dreamsolutions3037]

Idk why it took the algorithm so long to start pushing your content to me, but I'm stoked to be here

[@101criminal]

Ross you’re the man, I was just thinking a out level two data !

[@stacyjomcdermott693]

Learned so much from this!

[@RTRT-jr8jv]

Great insight, thank you!

[@AmIsraelChai4Trump]

I'm trying. It'll be a while before I'm reading to absorb L2. I'm still getting comfortable with ToS... by that I mean... I'm stopping trading entirely until I get a handle on ToS.

[@RemoteTrooper]

Thanks for this

[@perryberens618]

Really good schooling Ross. I use think or swim . Your right in my opinion on "could be improved." However, somehow I hit a study that puts a dot on time and sale which seems to correspond with "Iceberg" buys sell and fill. Unfortunately I didn't save whatever study that was and it's gone. I think it has something to do with think or swim rainbow study. But I am not into tech at all. That's a major disadvantage in any platform. I appreciate your tutorials.

[@mateodemaj6871]

ahhh yes the lvl 2.....a beautiful art easily manipulated.

[@SuperBigbill2]

Well! to be honest I have watched other videos of ross, demonstrating level 2, but not in a such a fine text of this nature. I am not sure if all trading platforms provide it, I am at present, just using the chart and yes, been successful with it having other indicators to rely on, which helps me predict what might happen. Level two to me seems like a turbo charge version of buying and selling shares, which gives you a clearer picture of what’s really going on with a particular stock. Would love to get seriously into this later on, but for now as I am still learning to trade on a professional level, best leave it until I am ready to grasp it and make it part of my trading strategy. But! I will be watching other warrior tutorials on This in the meantime, which will allow me to understand it better and long term, prove to be a powerful trading tool, that will help me to make more positive decisions, whether to buy or sell a particular stock. Thanks for another great lesson ross. Regards Bill.

[@alexandrebrousse7324]

Informative video, as always. Just became a Pro member and thoroughly enjoying it all. I was wondering, how did you superimpose a portion of your trading platform onto your dashboard? TIA

[@DaytradeWarrior]

Hi! With Lightspeed you can pop a window out and float it wherever you want

[@alexandrebrousse7324]

@@DaytradeWarrior Good to know, thank you.

[@JamJells]

Awesome as always. Thanks Ross

[@namename3139]

u say if u want a deepp dive in elevel 2, click here, but theres notthing there , were ur clicking,

[@davidpds98]

Wow Ross! You're by far the best trading KZbinr. Thank you for all the knowledge

[@goldPanthera]

Please make a video on how to setup Level 2 on IBKR TWS

You make it look so easy!!!

[@HannahMcFarlane-jg4bu]

I looooooooove you Ross the Boss. Great teacher par excellence!!!!

[@DaytradeWarrior]

Thanks Hannah!

[@HannahMcFarlane-jg4bu]

@@DaytradeWarrior My processor is AMD Ryzen 2 3250U with Radeon graphics, 2600 Mhz, 2 Core... Will that meet the system requirement for warrior trading?

[@MysterERaps]

So if there's a hidden seller, does that mean price upwards will have alot of resistance

[@devinagu]

Which flat form is this TOS??

[@jasonmccorkle8760]

Thanks

[@catchafishllc]

Great content as always

[@matthewcaskey1051]

Ross on TOS they have under timeframes, actual times, Ticks, and Range, have you ever looked at Range and set price to ATR? It is literally Averaging out over several aspects from Volatility to orders, etc.... if you could I would love to see a video on how to trade using this? Thanks!

[@MjWoodJr]

So on thinkorswim can you or can you not edit the colors on the Level 2 👀👀

[@verveblack]

sigh you could’ve zoomed into the lvl 2 window. why do we have to see the charts at all when focusing on one window. hard to see on a tv

[@DaytradeWarrior]

I’ll try to zoom on next episode

[@hamzehghazawi9253]

thank you ross

[@markbush8536]

Where do find the level 2 on your broker?

[@mjay512]

Awesome, thanks! Give those algorithms a run for their money. Does the level II you use require Win 10? Does it include the candlesticks?

[@Zxmbino]

Thank you Ross you are truly doing gods work with your videos. I plan to be joining warrior pro trading asap!

[@DaytradeWarrior]

Cheers!! Happy Saturday! Study up 🙏

[@MinDTraX]

Is it possible to see your live trades including commentary later on in the day when I subscribe? Given the time differences.

[@SD-mg7np]

Ohhh snap. Good stuff ross

[@tiagolimp]

Awesome! I'm a bit confused regarding which subscriptions to enroll in. There are many different ones with different prices. For this type of trading, what are the necessary subscriptions?

[@robertwalker9515]

so at the phych levels as a long biased trader you look for sell orders on the bid at whole and half dollars ? thanks ross?

[@hjoseph22]

Where can I find a free tool to view the level 2 data?

[@DaytradeWarrior]

Since level 2 requires live market data which a subscription is required for there aren't free versions typically. You can look into something like ThinkorSwim by Schwab, however you have to have an account with them.

[@benoiskool]

How do we get access to your stock scanner ross?

[@DaytradeWarrior]

You can learn more here: www.warriortrading.com/scanners/

[@aljones8519]

I.d think that the time and sales readings would exactly correspond to a candlestick's changing shape, why not????

[@ryancope7841]

What is the difference on the T/S between the red and green highlighted with white lettering and the solid red and green?

[@DaytradeWarrior]

Green are orders on the ASK, white are orders in between the spread and red are orders on the BID!

[@mrdirexion]

A gem!

[@burtyful1]

Just what I needed

[@coolnerd6147]

Where I can got level 2

[@mayakaahla_WFI]

Ross can we get a another shadow theory breakdown

[@bobpeterson9207]

I agree why wouldn't ToS make a better level 2

[@ryancope7841]

What does the white on T/S represent in comparison to the red and the green?

[@DaytradeWarrior]

The white orders are orders in between the bid and ask

[@minht5588]

thanks Ross

[@yvettewhite7496]

Ross this is off topic but what scanner do you use

[@DaytradeWarrior]

Hi! I’m using custom scanners available for warrior members

[@nicojenkins986]

Hey Ross. On the T&S, you have red, green and white. I undertsnaad that...but you also have some places where the green is on the background, or the red is on the background...could you explain that?

[@DaytradeWarrior]

When green or red are on the background, it means an order swept the book and printed outside the best bid / offer. Very bullish/bearish.

[@Joseph-u7n]

Big bro Ross Cameron nearly perfect. This also allow me to see when broker is selling against me and as I sell the buy back hints why price goes up after nearly every time. Because they are so greedy

[@DrAL00isin]

Hopefully now that Schwab has bought TD there will be needed improvements or options for things like level2. I really like the active trader on TOS or I likely would have changed platforms.

[@bigggmustang73]

What does the spread tell you as far as bullish or bearish?

[@ToniGonzalezandCJ]

Ross is a gift. 🎁

[@koyaaanisquatsi]

does L2 color changing only work in Lightspeed, or can I do it in other software as well? What platform would you recommend using for displaying L2 like you do?

[@SF-fb6lv]

3:28 60,000 shares not 600 shares, right?

[@DaytradeWarrior]

Yes add 2 zeros

[@WSmart1]

Each line on the level 2 is an exchange that has at least one order at that price. The depth is total shares of all exchanges. ???? Thanks!

[@DaytradeWarrior]

Yes different market makers executing different routing options! Example ARCA BATS NSDQ

[@mohamedbemax3281]

hi ross what about the difference between orders types and what the best ioc or fok or gtc or day or opg or gtx

[@DaytradeWarrior]

Instant or cancel, fill or kill, good till cancel, day order (auto cancels at end of day), opg (at the open order) gtx good till cancel

[@dnadns8453]

Does level 2 show bids and asks for executed orders? Matched orders? Before matching

[@danieldengL4R]

I think level 2 only shows *orders waiting to be filled.* Once filled, they are taken off the books & will pass through the T&S as executed orders!

[@DaytradeWarrior]

Level 2 is a book of limit orders sitting and waiting for somebody to execute a trade a buy/sell from them. Market orders go through instantly and show up on the time and sales but never the level 2.

[@whereismymind6696]

On the level 2, does a "2", for example, represent 2, 20, 200, 2000 shares?

[@DaytradeWarrior]

Always add 2 zeros “00”. 2 = 200, 20 = 2000, 200 = 20000 etc

[@mauriziodavidebonalumi2230]

is the Market Maker important in any way? Why not just consider price and size?!?

[@steve6597]

Need to do more live trading.

[@kevinnugent8570]

What trading platform has the best level II display for day trading?

[@DaytradeWarrior]

Etrade, Lightspeed, and das trader

[@kevinnugent8570]

@@DaytradeWarrior thank you!

[@weifeiisplaying7648]

Noob question, why are you looking at the ask price? Like does it mean it’s the correct price or does it tell the price going up or down? Sorry quite confused on this lvl2 part

[@DaytradeWarrior]

It shows me that the ask price is moving up when I see the buying

[@allsportsbarbershop5887]

hello Ross. I'm a rookie just getting in to learn how to trade. my question is does this level 2 trading apply also with trading cryptocurrency?

[@mo938]

why does TOS have such bad level 2 display?

[@DaytradeWarrior]

I have no idea, I guess they don’t care about tape reading.

[@mo938]

@@DaytradeWarrior I meant like why do you think they do? What is the diff btwn what you use and what TOS has?

[@Roughneck7712]

ToS desktop only shows a color gradient within the L2 when differentiating between the different prices (ie the different prices are all just a slightly different shading of the same color instead of different prices being completely different colors). This makes it more difficult to quickly see when there are “stacked” buyers and sellers, something that can help quickly assess when certain price points have strong buy/sell sentiment. What’s really sad is the ToS mobile app now has a Level II tab that shows colored prices (like how Ross has his L2 setup) but nothing within the desktop version allows users to change L2 formatting to match what the mobile app does. It’s pretty ridiculous imo

[@eduardoaleman2773]

ToS doesn't let me change the LII color.

[@DaytradeWarrior]

I know 😓

[@Roughneck7712]

What’s really sad is the ToS mobile app now has a Level II tab that shows colored prices (like how Ross has his L2 setup) but nothing within the desktop version allows users to change L2 formatting to match what the mobile app does. It’s pretty ridiculous imo

[@alita123csi]

AWESOME! :D

[@rc28ify]

Even now it's just flickering

[@JamesPro-yi5nl]

Ross the best

[@Lewic99]

14:06

[@Lincoln-HRL]

👍👍

[@hadiza1]

💚💚💚