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
Great Video Ross. Even after a year and a half of being warrior pro student it's always great to watch your RU-vid videos. I always seem to get some new Perspective and knowledge out of them. Thanks
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. 👍👍
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.
@@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?
Your analysis, teaching through live stocks, coordinating chart with level2 orders is my favorite thing about you and when I learn the most. When you do this, I gain confidence. Thanks Ross. Btw, I saw this stock and was surprised but didn’t take a trade because my account is way to small. Have a great evening Ross! :-)
After watching you and picking up tips from you for about 10 days , I have finally stopped loosing money, I am gonna watch every video and everything you do and I bet I will be making money soon. A big thanks to you from everyone that trades. 👍
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
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.
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.
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!
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!
Great analysis Ross. Couldn't agree more. Someone clearly wanted this stock to go up, definitely not a typical retail stock. No doubt institutions were involved.
I've learnt in this Video more than what I have since I started thinking about Day Trading... Thank you Ross... Definitely coming to class as soon as I can.
The best way for you to learn more about my trading strategies 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/
Ross, you are a mind reader!!! :) . I was actually searching youtube this weekend wishing there was a video showing how practically use level 2 while trading. I have found many videos telling us 'theoretically' about level 2 (yes we know we have buyers in one column sellers in second and sizes of their trades) but how to actually act upon this info... lol
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!
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.
Great video Ross, and great videos from the weekend! I've made the 3 changes to my TOS account, can't believe the default settings? So much great info in these last batch of videos, from LULD, to hidden buyers, to TOS layout and changes, just awesome!! Thank you Ross! How about SSR on TOS? Not that I'm very short bias, just nice to know, thanks.
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.
Great video, very good analysis....the level II tape is going fast....hard to catch the hidden buyer....I guess you have to train your eyes for this stuff.....amazing insight Ross.
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.
Wish I would've traded the options on this. Each percentage point gained on the stock basically converts to 10 percentage points on the option side. Great stuff.
Incredible observations and so impressive. As you mentioned in another video, it's like gradually learning to play a guitar building your intellectual muscle memory to where it becomes instinctive - second nature. Though you were/are doing the small account challenge, no one could blame you for firing up the big boy account and taking a punt. If you didn't then you truly have the discipline of 'Yoda'.
someone is a genius, letting it set up a classic short analysis and then sucking up all the short sellers. I notice it was coming in blocks, probably to keep it from taking off too soon.
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).
Thanks for the video Ross. What do you mean by Big Spread? Does it mean that the current price on a stock is at 4.50 and the ask is at 4.75 at that specific moment?
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?
Good evening ROSS , what will be ur attitude if it was a low price stock , what will be ur stop loss? How u will deal with this , and thank u again for the analyse : )
That would all change if this were a lower priced stocks. If you'd like to learn my strategy, and learn how to get started with Warrior Trading join us in our next webinar! It's free to join and sign up and you will receive a copy of Ross' best-selling eBook "How To Day Trade" just for attending! Sign up here: webinar.warriortrading.com/signup
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.
Thanks Ros, why does somebody buying large at $54 mean the price is likely to be going higher? Who would drive it higher if the big buyer was all at $54? Thank you!
Hey Dan, If price is holding, this will lead to more buyer being interested, and will also cause shorts to get uncomfortable and eventually covering, which will lead to the breakout I wen't over in the video!
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.
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?
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?
Thanks for the video Ross. Question, if I had 3-4k account with leverage would it be ok to go in on a stock like this if I'm ok with risking say a 1.50 stop? Thanks
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?!
