Level 2 Trading Secrets (How to Read the Tape Using Time & Sales)

THE KEY METRICS

1) Is this stock in play now?
- Volume traded
- RVOL
- ATR
- Net Change - from prior close and from open

2) The next step is the chart, what is the Set Up?
- What is the price action telling us?
- What levels on the chart seem REALLY important?

3) Then it’s the Time and Sales
- How is it printing?
-- Speed
-- Slow
-- Fast
- What size is it printing?

4) Then Level2. What does that look like?
- Thin and spready?
- Thick and heavy?
- Choppy?
- Fluid?

This checklist seems to be a long one, but in reality it’s less than 3 seconds once you practice it.
So take this process and practice it every time you pull up a symbol.

#tapereading #level2 #scalping

[clayjeffries]

I came in to learning this stuff knowing that the Dunning Kruger effect is real. . That being said your videows have thuely openend my eyes as to how deep this profession can go., I liken it to learning Guitar. Ive Played sinse i was 10. Id learn a few chords and think " I got

This" then id learn Scales and think : I got this . but at 60 years old im still learning how much i still have to learn.. This channel makes me see the things i must think about before i go live with my trading. thank you yet again

[genice]

This was so helpful. I like how we could actually see the level two. So many videos like this we can't actually see the numbers. Thanks for pausing and talking through it.

[fumagoo]

More of these videos smb please, this is real content to learn from. Not just theory

[mojohashimoto]

So far this is the best Level 2 and Time/Sales video I've watched. Like the disciplined process. I've incorporated it into my trading better my Alpha edge. Thank you SMB. Much appreciated.

[NupeAtl]

RVOL: The Relative Volume (RVOL) indicator compares volume data for each price bar with the average volume over a specified number of prior bars. The RVOL ratio produced allows chartists to easily spot setups where unusually high or low volume is powering a price move. When the indicator value is greater than one, the volume is higher than average; conversely, a value less than one means lower than average volume.

[neilhess]

Best video I have seen yet on tape reading and level two. SO helpful! Thanks guys!

[tyronejohnson]

"I think you're jumping ahead" my guy had a double shot of expresso before the video. Lol . Very informative video you guy explain in detail how to utilize level 2 data. I have been a fan since my introduction to SMB Capital. Keep up the great work we appreciate you!

[RMPM.]

It was extremely helpful having the pause and replay commentary on the tape, with expectations set once for when the tape is resumed.
Thanks for highlighting what you were looking for and comparing to what was actually happening, this was a great video.

[bibbidi_bobbidi_bacons]

Thanks Mike. I lost a bunch and considered holding my breath until I died. Statistically knew that it wouldn’t work. I appreciate your content and find it very helpful. Hopefully between you, your guys and other resources I become successful and confident. Thank you. 🙏

[jle]

lol this material is so good I almost forget that this is on YouTube and not from my SMB online training module 😅 although I primarily swing trade, reading the tape is so important to taking an entry and going in big ⚾️

[michaeldarken]

OMG...that is THE best reading the tape video i have seen and i watch a lot. Where yiur eyes are focused is always a question for me. More more more of these details. Love it!

[billfranz]

Thank you guys! Your videos are getting better and better.

[GCrewHomeschooling]

Best video ever!! It was awesome 🎉 I love the easy going environment. Reminds me of homeschooling my crew of 5.😂 sometimes it good to show the fun😂 Knowledge was learned, laughs were had, and memories made!!

[Jaysnipes]

I'm going to watch this studiously. I want to improve my trading knowing I'm using all of the required arsenal suggested by the pros in the game.

[justinstu]

this is an amazing video ive been on a mission to master tape reading and this has definitely the single most helpful video i have seen so far thank you SMB

[dknyvjy]

Thank you so much for sharing these videos. As someone brand new to trading, these are extremely helpful. I will be integrating the checklist right away.

[zoratrading]

Great video to help understanding Level 2. This video and the book "Day trading: Momentum, Level 2 and Reading the tape" sharpened my edge to make better trades.

[ryanp]

Great content and the level of jeffs enthusiasm to get his point across to the trainee is priceless it shows the importance of having that checklist and now the trainee wont forget, big thanks to the guys at smb for the great content on a consistent basis.❤

[gbf]

Wow! I really enjoyed this video. I've been struggling to get better reading tape and especially the level 2, while applying what I see to my trade. This video helps a lot.

[mousewl]

When you guys talk about RVOL and ATR in your videos, what kind of timeframe and lookback are you referring to?