How to use Level 2 data in your Day Trading Strategy (WITH LIVE MARKET EXAMPLES)
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- Опубликовано: 1 окт 2024
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Warrior Trading // Ross Cameron // Day Trade Warrior
It pays to watch this man. After watching the video I saw the stock was still doing well so I jumped in and made a quick 60 bucks. Thanks Ross!
Appreciate that kevin, happy to help!
Excellent technical analysis kevin hamilton lmao
Made over 2k trading KRTX
Nice Tyrell!
This was a great analysis...really helped me understand about hidden buyers.
I'm happy to hear that!
That was an awsome learning experience today. I jumped in and back out with a 100 shares of paper trade money on think or swim and made 39.00 bucks. Lol. My first Green Day!
Same here! I never knew there was such a thing! But I'm guessing it may have been institutions that were accumulating the stock once they discovered what was going on.
@@Jeff-xy7fv I agree!
@@DaytradeWarrior Absolute quality!! Why not, as you said near the end of the video, do a quick ride of the wave/momentum this whale was creating? If it's a short, it's a long, even a small one... right?
And here we are, 7 months later and the stock is indeed $100+ ... very interesting!
👍
Do a real challenge, do the Robin Hood free stock challenge. See how high you can turn the free stock you get for opening an account without adding any of your own money.
👍
He's so humble...! Thank you, Ross. Sadly I can't afford to join your community but I will follow every bit of knowledge you share on your videos.
What software are you using to screen record or go back in time?
OBS
Made today 20% on KRTX on my 100$ challenge, tiny step on this journey, long way to go
What a crazy run at 2pm krtx hit 100$ per share
Awesome work DBA!
seriously...so many stock market videos to watch, i have chosen you to be my guru and regret nothing!
Love to hear it, that's why I do these videos!
I don't see any reason to not buy a stock like this with a small account. Just buy a single share. As long as you limit your risk on each trade to 2% or so, which is $10 in a $500 account, which would be a 20% drop on a $50 stock. I certainly hope your stop isn't that loose! Plus, cheaper stocks have higher spreads relative to how much they move (a 1 cent spread is a big chunk of a $5 stock).
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I had $1000 in my account, with 1:3 lev. Made $1214 on KRTX today. Feel bad because I should have made more.
Awesome Art, green is good!
+436% as of night now, somehow I managed to lose $60 on a circuit breaker hualt🤦🏼♂️
It happens
Keeping the losses small is important.
What I see on the chart is a hammer, and bullish pennant.
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Great video - finding that Level II spot to know big whale in the background supporting and using that to make a great play
Thanks Kim!
I think it wasn’t a hidden buyer but more like a short seller in pain and it became a short squeeze??
Could be!
Warrior Trading either way it was a great example of a “held bid” learn it from Mike Bellafiore from SMB Capital
Ross, this was by far, one of my favorite informational/instructional videos from you on Level 2. You are a scholar and a gentleman!
Thanks Randy, happy to share!
Cameron can u try to do the same set up with TOS? You think it's possible?
Yes I do think it's possible.
@@DaytradeWarrior ❤
Just shorted 20 shares on KRTX at 97, risk level 100$ whole dollar, covered 91.5, a quick 5 minutes trade, made 100$.
Baah, now it's at 85, covered too earlly.
Nice Roy, that's awesome!
I traded it ....took 600 shares and got about 1.30 move and got out.....💸💸💸
Nice Luis, that's awesome!
Awesome breakdown of the KRTX morning rally
Thanks Alex, hope it helps!
Alex, just started following your channel! Did not know you were in Ross comments🤣 see ya monday.
Stupid question: price started roughly at $32.50 went to $66.53 and you say it is up 248% in finance it is only up a little more than 100% why the 248%?
Larry, I was going off of percentage it was up from the previous days close!
I speak from total ignorance here, but could someone code a screen to show the level 2 extra large buying consolidation adding up. I mean extract out in real time the addition of all these buying orders by "buyers name" consolidating them in an easy to see layout, so that, the invisible buyer or buyers becomes blatantly obvious.
The level 2 scanner gives the information but it does so in such a "fast paced spastic way". If someone could consolidate the data and methodologically present it in a clearer way, I think it would bring everything to the next level of clarity.
And again I know nothing about Level 2 scanners.
I would definitely be interested in that if it was available!
what’s wrong with 10- 20 shares on a 70 point move, relativ to a 500$ account? well that’s me wondering about it in hindsight. do you teach your students how you approach the market with a 500$ account?
That's true Mac, however, because of the spreads, the risk would have just been too high. If you'd like to learn more about learning to trade a small account you can here: webinar.warriortrading.com/signup
ref hidden buyer... how come the bid didn't come in? there was only 500 offered and there was 300,000 bought. How can it print that large without a bid of size showing. Are you suggesting that the were that many small bids getting taken out one after the other?
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/
Is there a way to make a TD Ameritrade scanner to get the similar scanning result like yours?
Daniel, I am not sure, I haven't tried.
Extremely informative video, Ross. Huge thanks for this one...
Wasn't there also a hidden seller at 54.75? (at 24 min and 49 seconds into the video).
If you see both big hidden sellers AND big hidden buyers, do they cancel each other out, and you keep on trading "normaly"? Or you don't actually know how big they are, so you just sit back and wait for it to unfold?
Hey Robert, there are always hidden sellers at levels. Many times the orders will either hold, which means that they didn't fill the full order, or the stock will move through that level which would mean that order got filled or was cancelled by the trader.
I don't understand how that buyer who is accumulating such a big position wasn't showing up on the 10-second chart? How are they able to hide the positions they're accumulating? It should be actively painting his candle
If the supply was matched by the demand, then it wouldn't have a big impact on the price chart
Where, an how can I get access to KTRX source you used here?
So You know , You get a lot of trash being labeled as a low float price manipulator. But this video has good fundamentals and I understood your reasoning!! can you share youre thoughts on people that diss you for that?
Hey Orniz, I think it's crazy that people actually believe I have the power to manipulate the market.
What is level 2 bro I don't get it
You can learn more about level 2 here: www.warriortrading.com/level-2-definition-day-trading-terminology/
so a hidden buyer will show up on the tape not bidding for shares?.. so you can kinda figure out how many prints of shares are flying by.. that are being bid for? that could be a sign of a big hidden buyer and of course massive support?
Hates, yes the orders will still be shown on time and sales
@@DaytradeWarriorthank you..
Celena’s RSI tutorial really helped me with KRTX today, made $254 with 100 shares, that’s $2.54 per.
Thanx Ross for having Celena on your team
Cheers
Awesome, really great to hear it Ruststar!
I am starting to unsubscribe to tge others and focus on to you. I am learning so much. Thank you for teaching and making more videos like this
It's my pleasure Sharon!
Ross, why would a buyer want to hold up the price? If it was that obvious the price wanted to go down, why didnt he try getting shares cheaper?
Hey Mike there are many reasons, sometimes due to outside factors, hard to know for sure, our jobs are traders is to recognize it and take that into account for our trading.
Opportunities like these are why traders trade. Great break down of the level 2 and the “hidden” buyer. Was definitely a tricky stock to trade technically.
Happy to help, it certainly wasn't an easy trader.
Ross could the two red candles with volume you were referring to as people shorting be that the buyers were taking profits then reentering at the support?
That could be possible!
Perhaps it was a short seller trying to cover after he noticed a bull flag pattern in development with decent buying pressure at support. What do you think? Btw I love your work, Kudos!
Great video just checked the stock today you pin pointed that CRAZYYYY
Thank you!
If you can see the selling on the tape, how come the buying doesn't show up? Am I missing something?
If there is heavy selling there is still buying, however, the selling pressure leads to more orders going through on the bid as traders want to get out and aren't worried about getting out at a higher price.
Hi Ross, thanks for another great video. For this newly, can you explain why with a small account you wouldn't buy 10/20/30 shares? If your 10 shares go up 200%, that's still a 200% gain.. what am I missing?
hey! I buy the most shares I can afford!
Warrior will you be resetting your account to
Ross is currently hosting a small account challenge but he does not have plans for another one at this time
Hi,
who knows a broker where you can trade all US papers. He also takes customers from Germany. And where you can trade every day. Daytrading. Without 2x the week only. Thanks for your help.
Feueauge, I'd recommend checking out CMEG or TradeZero, www.warriortrading.com/capital-markets-elite-group-review/ www.warriortrading.com/trade-zero-broker-review-how-it-matches-up/
@@DaytradeWarrior Thank you
Taking Notes on this one!!!!! I will gladly take all the Level 2 training that I can get! This is also Great example of reading volume! (turning volume indicator back on as we speak!)
This stock reminds me of so many others that have burned me! Typically I jump in during the middle of the first rip, then stop out while it trickles down......only to watch it spike back up.
This exact pattern has caused me a ton of confusion & discouragement throughout the years, mostly with mid/small caps.
Very helpful!!!!
Thanks again Ross
Love to hear it, keep it up!
Thanks Ross ! You explaned how the hidden buyer was there, but wasn't the seller(s) hidden as well ? I didn't see any sellers on the ASK @ $54 when $54 was printing. Anyone that can help me understand this will be most appreciated. Thanks !
Hey Cliff, I did not see a hidden seller, as the ask was moving around alot, whereas the bid stayed steady at $54 on small share size. If there was a lot of trades going through at the ask of $55 and the price wasn't moving, then I would think there is a hidden seller.
Warrior Trading Thanks Ross, I'm learning every day ‼️
$155 dollar stock today. Someone knew what they were doing at $54.
Yes that was a great trade for them!
Thank you so much for sharing - you are the find of my life in my day trading learning journey -
It's my pleasure!
I'm starting with $100 account on June 1st to see how far can I get with it by December 31st. 💪
right on!
How's it going so far?
Was in krtx at 13$.. my money was made waking up selling at 36
👍🤓
Hey Ross Great Video. This reminds me of Nikola stock in the past week it showed crazy high buying volume on Level II but the stock kept tanking even though the buying volume shown was more than 20 times the selling volume, you couldn't even compare it but the stock kept tanking. That made me realize how deceptive level II Market data can be. What do you think could have happened that made Nikola stock go the opposite way of Level II data?
Interesting! It could have been that most of the sellers did not have their orders on the level 2 and instead kept selling the bid
Very new to trading. What do you mean level 2? Does that mean the second run up?
Level 2 shows orders on the stock at the different price levels. You can learn more here: ruclips.net/video/pJuG5YtVF84/видео.html
#WarriorTrading hi #Ross i was wondering if your trading simulator is real time in the markets?
Samuel, yes it is real time! www.warriortrading.com/paper-trading/
didn't find my way in here either - though I do appreciate your insight as to why stocks may defy certain technical analysis - might show some nice moves when there is more chart
That's true Robert, nothing wrong with watching and learning!
132 today. Solid predictions. My hindsight isn't even as good as your foresight my man. Thanks for sharing.
Thanks for watching!
got in this at 82 bucks and dont even feel bad. LOL trailing stop and a cold shower. HAHA
Glad you were managing your risk!
Can someone help me out I have forex background. When we speaking about hidden buyer is that mean that there is not enough shares left for buy/ need to enticed more sellers to have liquidity for a buy from perspective of a price action and meaning that this is over bought already. Thanx
Hidden shares are liquidity that someone is trying to add, but don't want others seeing their large sell/buy order.
@@DaytradeWarrior So it means if you have intention to buy. Than you can not go all in one go. So for example if someone wan'ts to buy 500 000 shares He needs to split whole position to at least 10X 50 000 shares to hide it other vise it will be visible on LEVEL 2 data . Also what I'm trying to understand is there liquidity is enough for opposite side on any given moment or you need spots like these ones when people are filling to try to sell us example high of the day increased volume on red candles when they seeing some spot where to enter. Thanx
So cool seeing this. This was actually my first big winning stock. No clue what I was doing I bought 30 shares around $48 with no day trades left and was forced to hold over night. I think the next morning it ran up to $160 or so. I was hooked after that haha
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When are you doing another 500$ small account challenge ?
No plans yet.
KRTX some ghost in the level 2 god this stock was small price but big spread if we crazy get in u must burn a big loss with in sec. i always stay away from this type stocks. but Breakout pattern i will sure enter and get out as soon as possible. any way Ross Sir thank u for the video.
Certainly not something for less experienced traders to be trading.
@@DaytradeWarrior Ross sir i make some loss trade in when i trade start i dont know any thing just stock go up i buy and it return i make loss so one day i understand we must learn some experience ideas from market so i put a small amount and but i trading more than 2 years and i trade daily 2 to 8 stocks i never give up i got some different ideas so in that idea i find out a great idea today last month i pass ( 2 red day and 18 green day) and i again doing same thing for 6 months. i saw u r recap every videos really u r the great trader, Thank u sir.
Great Video Ross. Even after a year and a half of being warrior pro student it's always great to watch your RUclips videos. I always seem to get some new Perspective and knowledge out of them. Thanks
You're welcome Marcel!
2/4/2023 - this stock is now trading at $192 per share
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made 132$ after watching this video!!!
Really awesome to hear that!
i appreciate it but dam, a 27min long video just to get that point across? a gist next time would suffice. save everyone a lil more time to go do our DD lol.
Noted, appreciate the feedback!
@@DaytradeWarrior Ross, to begin with i was having an off day so my apologies. i made that comment before i even watched your video. i commented on one of your other videos and told ya thank you. once again i was just having an off day. this was a great video. you do a good job and i appreciate it very much. Sorry for my rude, outlandish comment.
Ross - Just The King - Thank You Again N' again.....
Thanks for the thoughts!
That scanner you have set up. is that part of E Signal, Lightspeed or something different?
It's Trade Ideas - www.warriortrading.com/trade-ideas-review/
Damn good vid!!!!!!
I was geekin' all the way through your analysis and finding. I need to get a better understanding of Level 2's. Thanks for your contribution to the 'little guy'.
Great job Ross!
Awesome, thanks for watching! Search the channel for level 2 we have a few other videos on it as well!
how did you know there were 40,000 shares sold at 45?
DLe, I could see the order on level 2.
you are already famous from your ''Whats up everyone''
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very useful video, watched it 3 times and went back many times. So valuable! Thanks Ross, cant thank you enough for making these videos.
Good call on $KRTX and thank you for the lesson on how to identify a potential hidden buyer with level 2
You're welcome!
17:50 it looks like a bull flag so the next move could be up?
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Why does the number of shares matter? ...isn’t 5% = 5% regardless of share size?
Yes it is but your profit/loss will still depend on how many shares you have
@@DaytradeWarrior is this because stocks with lower price shares are more likely to be more volatile relative to their share price? In other words, why do I care whether I buy 100 stocks at $10 or 10 stocks at $100? Either way it costs me $1000 to enter my position and a 5% gain will net me $50 (regardless of how many shares I have) Obviously, this would require the $100 share to increase by $5 to hit 5% whereas the $10 share would only need to increase by $0.50 for the same gain. Is it more likely a small stock will increase by 5% than it is for a larger stock?
Listening to you explain this in the chat room and then watching it jump 10 bucks was unreal.
Pretty crazy right!
Is Interactive brokers good for day trading?
You can read my review for interactive brokers here: www.warriortrading.com/interactive-brokers-review-warrior-trading/
It was like watching Houdini perform while Ross analyzed this ticker and he was 100% correct when he says @ 16mins,"someone is buying this stock" The darn thing hit $100! Ross knows his shit. WOW! Thank you for showing us how its done since I was at work while this was all going on. Figures hahaha
Crazy move Probing that's for sure!
was thinking about buying KRTX at 55 and holding until the end of the day, seen this so much with these big gainers but don't have the balls to trade them!!!
lol it's certainly a tough trade to make
I got a piece of this and made $1.25 a share on 100 shares. I was up almost $600 when I clicked sell bid, but I didn’t notice the spread and sold as the bid as it was dropping. I’m not sure why it didn’t sell. So I had to cancel sell bid and click sell market. The price action was crazy, I clicked buy twice because the first order didn’t fill. The price jumped some $0.95, then it dropped down and I got two orders filled on the dip. I was afraid I was going to be $1000 in the hole so I sold way too early, but I just could not manage my risk in this kind of price action. But I wanted to play this move so I switched to my paper account and made $1100. Funny how calm one gets when there is no risk.
It certainly can be tough to manage risk on volatile stocks, that's for sure.
I am new here. What brokerage are you using to buy these stocks from, so that you dont have to pay all those fees like on E-trade? Thank you
My main broker is Lightspeed, however, I do also have a cash account with TD Ameritrade which offers free commissions.
@@DaytradeWarrior Thank you for the quick reply and information. I am an VoIP Engineer and have a bit of money to invest. I think my best bet is to get started with your free day trader program. Going to look into that now. Thanks again. I am very excited to start. :)
Of course, let us know if you have any questions here: team@warriortrading.com
as a short pers.. I mean uh someone going short XD
Thanks for watching!
great content thanks for sharing your knowledge with us thanks
Thanks Cisco!
Hey Ross, i use think or swim level 2 and under order size sometimes it displays n/a, ive never seen this before and cant find out why also ive only noticed it happening with 1 stock in particular so far, any ideas? and thanks your awesome!
Sorry to hear that! Unfortunately we're not sure what could be leading to that issue. You'll want to reach out to their support team at 1-800-669-3900
I'm new to all this, but the past few days I've seen this a lot! Like, again, I'm a total noob, but I'm looking at Level 2 thinking, ok, the stock is going to go this way based on this info... then it does the exact opposite and I see stuff like this being sold way under current sell price and I'm super confused. How common is this? And why isn't the $54/$53 "buy order" showing up in level 2? it's like it just comes out of no where.
Damn it’s crazy to think of the different types of traders there are. At 20:30 how you talked about these investors that were taking potential shares of 200k making millions, and us on the other hand think 10k shares is a big position and others think 1k shares is even big. Everyone is still trading that stock but come from way different approaches?!
That's right, there's many different types of traders
Ross, in the monring I saw the YT video w/ search results ofunder $10 strocks. As part of the WP program, when/how would students/members notified of this KRTX opportunity?
Hey Beach, all our members in the chat room were watching once it popped up on scanners in the AM! You can learn more about getting started with us here: www.warriortrading.com/day-trading-chat-room/
Ross the madman Level 2 has lots of spoofing
Thanks for watching!
Made over 900 bucks on this one today, but really not happy about how I couldn't get in when it was climbing. But in my defense it was really scary lol. As you can see. But man, I had my eye on this one and should have taken the plunge and just cut losses if it didn't work out. But I'll take my 940 bucks. Also this was tremendously insightful thank you.
Nice, way to make it out green!
Ross, you are amazing. Thank you for being such a generous teacher. Awhile ago you were down and after introspection you are rolling again. Thank you!
Thanks Adam, appreciate the support!
Never understood how the price of a stock prohibits entry by small account holders. Higher price simply means fewer shares to buy. What am I missing here ???
Hey Wave, for me I just couldn't justify taking the risk due to the spread, though for some it may work well. That is just my personal opinion
Dude everybody made money on KRTX today haha. You left a lot on the table it looks like. Your just confusing people discussing short selling this stock when its having the day of its life.
discipline is muscle, today it will be stronger. This stock didnt' fit into my wheel house for a small account. I also promise you there are people who lost money on this stock today.
He never said he should short it, he said it looked like a potential short and while he was watching it looking for a break below support, is when he found the hidden buyer at this point he felt that it may continue upward. I’m sure lots of people took short positions today and took losses.
Can someone tell me. What‘s to the right of the ask and what does it mean when it’s red or green or white?
Molten that's the time and sales, the green is orders going through on the ask, red is orders going through on the bid and white is orders that are filled between the ask and the bid.
Warrior Trading thank you so much
15:05 Where do you see that the hidden buyer bought 33k shares where is the number on the level2? Time and sales or on bit and ask or where? i really don't see it.
And if the hidden buyer set his limit order at 54$ and is buying and getting filled at 54$ why is the time and sales red and not green at 54$ like why are all the the orders that are going through at 54$ red and not green if he is buying the stock?
the red orders are the market orders selling to the hidden buyer
The mysteries of volume. Good eye for analysis of time and sales and level 2. Years ago I was shorting 10K shares and watching buyers buy 100K blocks into the close. My analysis was pure technical and probability based. My broker at the time was a market maker and had him call the floor to see if he could get any more information that's really hard to do. I was curious to know who was buying/selling. Essentially its confidential and off limits. I was swing trading at the time and the next day the stock broke down. My analysis was correct. I Love how you say this looks weak. This is my favorite place to buy. I am either right or wrong really fast. I think this was just a big trader setting up rookie shorts many times they will do a false break buy it up and sell all their open position into the short squeeze. This is called smart money. Follow the smart money. Many things can be learned by watching the volume very closely. 👍👍
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Love what you're doing here. Thanks for walking us through this trade with such detail and clarity. Subscribed and looking forward to comparing screeners with you. Cheers!
Thanks for watching!
This morning I attempted to purchase options on $KRTX but it wasn’t possible. Great video! I’m currently learning about DOM
Crystal, most small cap stocks don't have options chains available. Glad you enjoyed the video!
Brother, can u help me to open trading account in America please? I have learned it through paper trade and i really love to trade America stock. But unfortunately i cant trade it because i live in Indonesia? Can u help me?
There are brokers that do accept international members. Here are our favorite 3 brokers:
www.warriortrading.com/the-3-best-online-trading-brokers/
That was great. Thank you. Not yet a trader, just trying to see if it's a for me.
Thanks for watching! 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 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/
fantastic video thank you man!
You're welcome Alec!
This video ages well. Now when you look at KRTX chart on the daily, you can see what that buyer was looking for. Gives you a new point of view coming back to this video again and looking at everything in retrospect. Ross you tha boss.
Thank you Casey!
Sir you are real hero and best teacher and words can not be enough? I just start your Chat Room and I have learn lot from you .God bless you🌹🌹🙏🙏
Thanks Rajesh!
Have you ever traded U.K.shares?
Ross has only traded the US markets
First thing I noticed was the bullish pennant pattern that it made. From what I was taught that means the stock is usually just pulling over for some gass before it decides to keep driving up. That high volume red candle fallowed up with a bearish hammer really threw me off also. That level 2 really helped identify this break out forsure!
It certainly can help at times that's for sure!