How To Read Level 2 For Beginners (3 Ways To Use It)

  Рет қаралды 15,954

James Rich Young

James Rich Young

Күн бұрын

For every buyer there needs to be a seller, and for every seller there needs to be a buyer. This is why it's important to know how to read level 2 data which I explain in this video. I also go over 3 ways I use it.
You can also connect with me on:
Instagram: @jamesrichyoung
Twitter: @jamesrichyoung
Disclaimer: All information presented in this video and channel is for educational purposes only. Nothing is intended to be financial advice.

Пікірлер: 61
@mo938
@mo938 Жыл бұрын
Great explanation! A few other points that may help some people: - If you place a limit order, that order shows up on LEVEL II - If you place a market order, that order shows up on the TIME AND SALES - Market orders get executed against, or matched with, limit orders - Limit orders are sometimes referred to as "resting orders" or "passive buyers/sellers" - Market orders are sometimes referred to as "aggressive orders" or "aggressive buying/selling" - If you Market BUY your order will hit a limit order which is "resting" on the ASK - If you Market SELL your order will hit a limit order which is "resting" on the BID
@ewlincueto
@ewlincueto 9 ай бұрын
Thank you brother .
@thinkittoitstudies
@thinkittoitstudies 2 жыл бұрын
One of the most concise and efficient telling of the use of Level II... Thank you!
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Great to hear!
@nostalgic65
@nostalgic65 Жыл бұрын
Great content and very easy to understand. Thank you for the knowledge.
@1woto_
@1woto_ Жыл бұрын
Liking the structured way you explain things!
@deleongirl72
@deleongirl72 2 жыл бұрын
I kept hearing "level 2" and was not sure what it was .....NOW I KNOW :) yess it is a lot to take in but I believe when you say we will get better at it. T H A N K Y O U !!! for the explanation.
@walisatari-xu7zu
@walisatari-xu7zu 4 ай бұрын
I need to watch again...possibly more, this went right over my heard...it's the simplest I've found yet, but, super newbie here.
@chipetto21
@chipetto21 Жыл бұрын
Great explanation. Thank you James
@Vizurraga
@Vizurraga Жыл бұрын
Thank you for the break down. Very informative and helpful.
@dorinator27
@dorinator27 Жыл бұрын
I found the answers in some of your videos , thanks James !
@chadinovejas
@chadinovejas Жыл бұрын
Wow Great job with this explanation James. Probably the most simplest and easiest to understand explanation I have come across. Thank You
@sujaymessi
@sujaymessi 8 ай бұрын
I didn't even know something like this existed. 😮😮 . Thank you for explaining it so clearly. It is crazy to think how your channel hasn't blown up yet.
@Gelexremix
@Gelexremix 4 ай бұрын
Well done. I received your teachings 100%.
@tannystakeaways8511
@tannystakeaways8511 5 ай бұрын
You're fast becoming a legend to me as I watch all your videos. Thank you.
@taiellis4992
@taiellis4992 10 ай бұрын
Thank you for the very clear and concise way you manage to relay information. Super helpful and much appreciated.
@nobodycares4434
@nobodycares4434 8 ай бұрын
best explanation of Level 2 on KZfaq, by far. thank you
@harvle8090
@harvle8090 2 жыл бұрын
Your channel definitely deserves more subscribers. Thanks for sharing!
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Thanks Harv! That means a lot 😃
@DIYerGirl
@DIYerGirl Жыл бұрын
Thank you for explaining not only what Level 2 is but how to read it for more precision trading. I just came across your channel from the YT gods. Great timing!
@tikig204
@tikig204 Жыл бұрын
Another great video!
@carllemelin9155
@carllemelin9155 Жыл бұрын
That is so crystal clear its the perfection ! Can you make a video and explain us the concept of scalping on level two please ?
@johnsmith-tu9ii
@johnsmith-tu9ii Ай бұрын
Great tutorial.
@rhymschym6714
@rhymschym6714 2 жыл бұрын
Very good explanation
@shanedavey6993
@shanedavey6993 2 жыл бұрын
Awesome video, thanks James!
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
🙌
@peteryoung21
@peteryoung21 2 жыл бұрын
Thank you for sharing this info!!!!!
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Thank you for watching!🙂
@FlyingUberTuber
@FlyingUberTuber Жыл бұрын
Excellent finally someone explains Level II in plain and simple english, thank you! Also what Level II are you using that has the total Bid and Ask shares boxes?
@Sincere369
@Sincere369 4 ай бұрын
Thank You
@edleiva1979
@edleiva1979 Жыл бұрын
Awesome content.
@tie_breaker
@tie_breaker 4 ай бұрын
Great explanation of Level 2, especially the concept of acquiring a certain # of shares and what average price would you be able to sell it, based on the price gap. It makes me even more curious if there is historical daily data on the price gap to determine if it stays constant or is variable throughout the day.
@LaceyJackson
@LaceyJackson Жыл бұрын
When you started out what Level 2 did you use? Is Sterling worth it for a beginner? Love your content man. Keep it coming
@eg7990
@eg7990 Жыл бұрын
Nailed it 🔥
@jasonunruh9605
@jasonunruh9605 10 ай бұрын
Your videos are amazing. I hope to be where you are one day
@user-ss9yu5lc5d
@user-ss9yu5lc5d 10 ай бұрын
Hi James Firstly thank you so much for these videos. They are extremely helpful as a beginner learning this trade. I'm literally in the initial stages so still getting accustomed to everything. Potential video idea if you're open to it: "The steps you took before you went to your week long mentorship" Before that seminar.... What did you learn and master + time frames you set yourself before attending ? What resources did you use to get yourself up to speed? If applicable, how long did you paper trade beforehand? What did your operational set up look like in those stages - computers + other equipment, SAAS you subscribed too? What were the costs for those initial stages? What did your days look like in these stage? Were you studying full time during the day then working a side gig or on your fashion business to supplement income? I'm sure a lot of subscribers new to this industry looking to emulate your footsteps may also be curious to learn this. Anyways my man, thank you so much for your content. Rowan
@omowaleaiyenuro7107
@omowaleaiyenuro7107 Жыл бұрын
Great Content 👍🏿👍🏿👍🏿👍🏿👍🏿
@dorinator27
@dorinator27 Жыл бұрын
Hey James good work ! I really like how you have set your monitors out, would you please share with us the brand of the monitors, and how you have multiple charts on one screens, are you using an app, or can you do this in Trading View ? Cheers !
@rhymschym6714
@rhymschym6714 2 жыл бұрын
The best so far since .i am a biginner in the field
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Thank you!
@morrisodioko2776
@morrisodioko2776 Жыл бұрын
The best life applicable example of Level II explanantion I have seen. Waiting on your Coaching videos, ready to pay for 1:1 if necessary.
@jamesrichyoung
@jamesrichyoung Жыл бұрын
Thanks Morris!
@Ianshhs
@Ianshhs Жыл бұрын
Thank you James! Do u recommend any literature on level 2 / time and sales ?
@apexvadeor3670
@apexvadeor3670 Жыл бұрын
I use bookmap it’s the best for visual imo
@namq95
@namq95 Жыл бұрын
I'm actually learning a lot from you than 99% of the day trading videos on youtube. Are you planning to sell courses in the future? Thanks James for everything.
@cadehaak
@cadehaak Жыл бұрын
How dependent would you say you are on level 2; could you get away with trading without it? If not, at times do you use it as an entry signal instead of a bar break and also use to cut before stops are even hit?
@relaxedvibe2382
@relaxedvibe2382 2 жыл бұрын
THANKS FOR THE VIDEO. Can i get Level 2 window on mt5?
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Thanks for watching! I'm not familiar with the mt5 platform but check out their depth of market tool.
@Apple55330
@Apple55330 10 ай бұрын
James, we got the "beginners" video for reading Level 2. It is time for the "advanced" video for reading Level 2 🙂
@rupulstilskin
@rupulstilskin Жыл бұрын
Is reading level 2 essential to trading successfully?
@edisonguintivano2620
@edisonguintivano2620 2 жыл бұрын
does time and sales and level 2 data matter if you're using limit orders instead of market orders?
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
Yes the only difference would be that the limit orders will “limit” what you get filled based on the availability of shares, and market orders will fill you at any price available
@fpotochney7318
@fpotochney7318 2 жыл бұрын
What’s up man what platform are you using on the level 2?
@jamesrichyoung
@jamesrichyoung 2 жыл бұрын
hey Freddie I use Sterling for my level 2s
@Augie..
@Augie.. Жыл бұрын
What platform was this L2 from?
@AneurisRivas
@AneurisRivas Жыл бұрын
DAS Trader Pro
@Augie..
@Augie.. Жыл бұрын
@@AneurisRivas that is not das trader. Unless he’s on some super old ass version, I use das on a daily basis
@AneurisRivas
@AneurisRivas Жыл бұрын
@@Augie.. You are incorrect because that is Das Trader Pro, I use it on a daily basis as well
@Augie..
@Augie.. Жыл бұрын
@@AneurisRivas did they update the UI or something? I must be on an older version or something
@AneurisRivas
@AneurisRivas Жыл бұрын
@@Augie.. Honestly, Das has been having this UI for a while. You must have a very old version of it or a different platform all together.
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