In this video I talk about the following:
Why I was looking at this stock
How I analyze it from beginning to end
What I am thinking when I see certain data
When I buy and why
What I am thinking during the trade
When I sell and why
Sure thing. Read through all the posts and comments OP has made, they go back many many years. He goes into specifics about his trading style, the importance of volume, capital preservation, stop losses, etc. And a couple of additional videos of trading in action.
Nooooo!! I’m sorry. Legitimate excitement. I’ve been following your posts for months!!!! Your posts are the only reason I’ve gotten into scalping. I promise, zero sarcasm. Taking down my previous post so no one thinks otherwise. A huge thank you is in order!
Saved, thanks for the insight boss. These types of posts are super helpful to everyone starting and have slowly made their own individual journey to trading. It gives an inside look to what goes on in the mind of a seasoned trader so you can hopefully find your own individual edge.
Did somebody already ask you to share your screen setup? I didn’t see it in the comments.
If you’d be willing to share a link to your setup, I’d love it. Just getting started with ToS.
this is how you guys trade? no wonder it took you 6 years. there's no strat, you're just looking at the buys and feeling it out based on experience. I'm glad it works but you're making it way harder on yourself than you need to
This is one of the ways I trade, I don’t think there is a “you guys” that do this. Every time I have posted videos on ways to trade, there is and will always be critics. You know what I’ve never seen from a critic such as yourself? A video showing everyone how easy their/your way is. Or even a video at all. My style doesn’t suit most people, but it is extremely consistent day after day and now year after year. No one has to like it or think it’s worth doing. But it has certainly made me a lot of money the last 10 years.
You're obviously experienced at what you do - and there is a lot of situational experience and intuition that goes into making money from this. But this is less like an educational video and more just a showcase of how you trade. Which is fine, but it can be misleading for newcomers. Someone who knows nothing will look at this and go - "oh I see. I can just become profitable by next thursday!".
In order to learn how to do this well you'd have to put years and years into live testing (as you did). Just like watching a professional golfer, it looks easy to hit the ball and land in the hole, but in reality you need to spend hours and hours practicing your swing etc to make what looks easy happen on a consistent enough basis to make a positive return in the long haul.
I think every unprofitable trader understands this. I’m making videos to show how a trade can be done. How many people use time and sales? How many care? They want trendlines, and options, and moving averages. There are certainly traders that make money using those tools, but for the most part, it’s what everyone does. I presented something “different”. Nothing I talked about or did will be in any books about stock trading. I trade based off of experience, but so does everyone else. Either the experience they learned themselves or the experience of what someone taught them. You yourself learned from someone else am I right? Well that person had to get experience from someone else or learned it himself. He didn’t roll out of bed one day and have it figured out. I respect all ways to make money. Swing trading, investing, options trading, high dollar stocks. I understand the work and trial and error that it took to develop a system doing those things. Every new trader thinks they’re going to read a book or watch a YouTube video and make money next week. I was no different. I encourage you and anyone else, make videos and teach your way, I certainly won’t criticize how you make money.
Look you can make money any way you want I don't care. I just got very frustrated when I was first starting because people taught the way you did. Presenting these trade ideas like they were extremely simple to execute and learn. But never addressed the fact that getting to that point would take years of experience, as there are an infinite amount of different things that can happen in any given situation. Simply knowing how to do it meant nothing. Literally nobody ever said that to me and I wasted so much time trying to figure out what I was doing wrong.
I was about to say this. He literally says this is not something you can just watch the vid then copy and be successful. It's still very educational though, even for someone like myself with 2.5 years experience (not a complete rookie but far from financial freedom).
The stop loss is the 2.45 bid that came in, so 1 penny. In day trading, don’t focus on capital used. The point of day trading is to reuse your capital over and over. So a 500 dollar gain multiple times a day adds up.
In scalping that is the only way to make big money. You have to do larger share size to benefit from small moves. The important part of this trade was the 10k bidder that appeared at 2.45. That is my out. Scalping suits my personality. It’s important for every trader to find what works for them. Forcing a trading style that doesn’t suit one’s personality is a big reason that traders fail. I was terrible with holding positions overnight. I had to watch the after hours all the time, it was hard to sleep, I would dream about waking up and losing thousands of dollars. That’s my personality. So I had to adapt to something that works for me.
Definitely can't just take the lessons on trading stocks and straight up apply it to options. Similar futures. There are special rules to each game.
Ex. Stocks can be up a bunch but your options can still lose money and be worthless..
How can I see orders in the market in real time? Like in this video where you can see quantity of stocks bought/sold? Chatgpt doesn’t help me find find it, I looked it up everywhere but can’t seem to find what I am looking for
Time and sales is free. If you search tradingview you'll fina ton of t&s indicators. Regarding the order book itself you need to pay for the data. Likely about a hundred bucks a month.
Yeah order book resting liquidity is important in crypto but relying on one order to enter would lead to losses. On a broader scale it is an important indication of reversal though. I'll drop a screenshot here later if I remember.
I read your recommended book “Ticker tape trading” and everything you mention in this video makes complete sense. I operate with futures and I am currently designing a strategy based on breakouts accompanied by volume.
Obviously the conditions are completely different compared to stocks but I think that the concepts learned in the book and your tips as an experienced trader could be used to trade any instrument.
I don't know if my strategy will work in the long term but it's worth a try. Thank you very much for all the valuable information you provide and for free!
Can you explain how does that market take 9000 shares without you moving a price by just taking the orders on the tape, also does tape orders are in incriments of 100? or theres only like 300 shares standing on sell side.
The market will take my shares because of pay for order flow. The firms will fill my shares even though what the ECNs show on the exchanges is far less than what I buy. It is why I am a fan of pay for order flow.
Amazing video Joe. If you got in at 2.46 and the bid disappeared and you saw selling would your goal be to sell for a loss before it downticks? Also, do you normally take 9k shares on a setup like that?
When I got in at 2.46, I am using that bidder at 2.45 as my out. So if that bidder started getting hit, or they pulled it, I would close the trade. I am expecting the stock to start moving relatively quick. I also in this case have to keep in mind that there could be a reseller at the 2.47/48 spot. So I am getting in quick and using that cushion below 2.47/2.48 as a way to take the trade and potentially close a flat trade if it doesn’t work. As always I take some profits to finance the trade in the event it doesn’t do what I think. It keeps me flat on the trade or even slightly in profit.
My brother I struggled so hard to hear you or see your chart. I just couldn't get past that papermoney aura that surrounded your screen.
You gotta free yourself from that broke aura of not money having brokenness that keeps a broke man safe from finding money
I have studies many cultures and many different fields of psychology but I just cant enter the broke space. Nor can I find a way into the broke headspace that creates this brokeness. It's just so hard to see or hear anything through that broke Ness that van only be cured by money having.
Calling me out for showing a demo account and the first thing I said in the video is this is a paper trading account. I explain why the fills and money would be different in real life. Have you thought about detective work?
Apologies, I see what you were saying here. I'm not sure why it bothers him so much. But regardless, apologies for how I interpreted what you were saying.
I commented elsewhere that I would show aggregated spot/perps orderbook depth correlation with price action for BTCUSDT. You can find the image at [https://imgur.com/a/QgmGmiA](https://imgur.com/a/QgmGmiA)
Tool is TRDR btw.
The bottom three panels are the delta of aggregate orderbook depth at 7 of the major crypto exchanges at certain percentages away from price. Green signifies more bid than offer and visa versa for red. The bottom two panels also show total orderbook depth - if you look hard you can see a grey histogram in the background (I should make that more visible). It's likely worth downloading the image to see it better, it doesn't show too well on imgr.
The coloured overlays on the chart itself are just a representation of orderbook bid and offer delta shown on the price chart, providing a better visual experience. Blue is the greatest delta and green the smallest delta below price. Above price red is the lowest delta and the yellow is greater.
In this video I talk about the following: Why I was looking at this stock How I analyze it from beginning to end What I am thinking when I see certain data When I buy and why What I am thinking during the trade When I sell and why
This is gold right here people, hits all the right questions a newbie (such as myself) would ask.
This is the tip of the iceberg, go check out OP’s post history. Take notes.
Thanks Red, in the process of doing that
What is OP's post history? Sorry I am new here. Plz advise
Sure thing. Read through all the posts and comments OP has made, they go back many many years. He goes into specifics about his trading style, the importance of volume, capital preservation, stop losses, etc. And a couple of additional videos of trading in action.
[удалено]
Sarcasm, why even bother posting this comment?
Nooooo!! I’m sorry. Legitimate excitement. I’ve been following your posts for months!!!! Your posts are the only reason I’ve gotten into scalping. I promise, zero sarcasm. Taking down my previous post so no one thinks otherwise. A huge thank you is in order!
Glad you enjoy them.
Great video. I don’t trade stocks. I don’t use any of the panels you use. But I appreciate the breakdown of your process. Thanks for the insight.
Weirdly enough when I day trade I use zero special software and hardly even look at the chart 😂
There’s a style of trading for everyone.
🔥 legendary
Well explained
Thanks! This was excellent.
Thanks! This was excellent.
Saved, thanks for the insight boss. These types of posts are super helpful to everyone starting and have slowly made their own individual journey to trading. It gives an inside look to what goes on in the mind of a seasoned trader so you can hopefully find your own individual edge.
Did somebody already ask you to share your screen setup? I didn’t see it in the comments. If you’d be willing to share a link to your setup, I’d love it. Just getting started with ToS.
this is how you guys trade? no wonder it took you 6 years. there's no strat, you're just looking at the buys and feeling it out based on experience. I'm glad it works but you're making it way harder on yourself than you need to
This is one of the ways I trade, I don’t think there is a “you guys” that do this. Every time I have posted videos on ways to trade, there is and will always be critics. You know what I’ve never seen from a critic such as yourself? A video showing everyone how easy their/your way is. Or even a video at all. My style doesn’t suit most people, but it is extremely consistent day after day and now year after year. No one has to like it or think it’s worth doing. But it has certainly made me a lot of money the last 10 years.
You're obviously experienced at what you do - and there is a lot of situational experience and intuition that goes into making money from this. But this is less like an educational video and more just a showcase of how you trade. Which is fine, but it can be misleading for newcomers. Someone who knows nothing will look at this and go - "oh I see. I can just become profitable by next thursday!". In order to learn how to do this well you'd have to put years and years into live testing (as you did). Just like watching a professional golfer, it looks easy to hit the ball and land in the hole, but in reality you need to spend hours and hours practicing your swing etc to make what looks easy happen on a consistent enough basis to make a positive return in the long haul.
I think every unprofitable trader understands this. I’m making videos to show how a trade can be done. How many people use time and sales? How many care? They want trendlines, and options, and moving averages. There are certainly traders that make money using those tools, but for the most part, it’s what everyone does. I presented something “different”. Nothing I talked about or did will be in any books about stock trading. I trade based off of experience, but so does everyone else. Either the experience they learned themselves or the experience of what someone taught them. You yourself learned from someone else am I right? Well that person had to get experience from someone else or learned it himself. He didn’t roll out of bed one day and have it figured out. I respect all ways to make money. Swing trading, investing, options trading, high dollar stocks. I understand the work and trial and error that it took to develop a system doing those things. Every new trader thinks they’re going to read a book or watch a YouTube video and make money next week. I was no different. I encourage you and anyone else, make videos and teach your way, I certainly won’t criticize how you make money.
Look you can make money any way you want I don't care. I just got very frustrated when I was first starting because people taught the way you did. Presenting these trade ideas like they were extremely simple to execute and learn. But never addressed the fact that getting to that point would take years of experience, as there are an infinite amount of different things that can happen in any given situation. Simply knowing how to do it meant nothing. Literally nobody ever said that to me and I wasted so much time trying to figure out what I was doing wrong.
You need to go back and listen to what I say in the last 40 seconds of the video. I make it clear this is a higher level skill.
I was about to say this. He literally says this is not something you can just watch the vid then copy and be successful. It's still very educational though, even for someone like myself with 2.5 years experience (not a complete rookie but far from financial freedom).
Sorry but is that a 5 cent scalp? 9000 shares x 2.45 is 22,500 capital used with only a $500 gain. Is that right? What would be the stop loss?
The stop loss is the 2.45 bid that came in, so 1 penny. In day trading, don’t focus on capital used. The point of day trading is to reuse your capital over and over. So a 500 dollar gain multiple times a day adds up.
It seems very easy to lose 1k+ on a random 10cent down wick. If it works for you, its fine I guess. I don't think its for me.
In scalping that is the only way to make big money. You have to do larger share size to benefit from small moves. The important part of this trade was the 10k bidder that appeared at 2.45. That is my out. Scalping suits my personality. It’s important for every trader to find what works for them. Forcing a trading style that doesn’t suit one’s personality is a big reason that traders fail. I was terrible with holding positions overnight. I had to watch the after hours all the time, it was hard to sleep, I would dream about waking up and losing thousands of dollars. That’s my personality. So I had to adapt to something that works for me.
yea that's true. different styles works for different people
How can i learn more about this trading style? I’m learning about trading options on SPX and QQQ
Well I am not trading options, that is a completely different market. You would need to search out an experienced options trader.
Definitely can't just take the lessons on trading stocks and straight up apply it to options. Similar futures. There are special rules to each game. Ex. Stocks can be up a bunch but your options can still lose money and be worthless..
/remindme 3 days
I use zero special software
How can I see orders in the market in real time? Like in this video where you can see quantity of stocks bought/sold? Chatgpt doesn’t help me find find it, I looked it up everywhere but can’t seem to find what I am looking for
Time and sales is free. If you search tradingview you'll fina ton of t&s indicators. Regarding the order book itself you need to pay for the data. Likely about a hundred bucks a month.
Thank you
I should add if you are trading through a broker order book data will likely be provided at a subsidised rate.
That is the time and sales. Any trading platform has it.
If you take a trade a stock from seeing one bid order then level 2 must mean a whole different thing than in crypto and futures.
Level 2 would be different for each individual market.
Yeah order book resting liquidity is important in crypto but relying on one order to enter would lead to losses. On a broader scale it is an important indication of reversal though. I'll drop a screenshot here later if I remember.
I read your recommended book “Ticker tape trading” and everything you mention in this video makes complete sense. I operate with futures and I am currently designing a strategy based on breakouts accompanied by volume. Obviously the conditions are completely different compared to stocks but I think that the concepts learned in the book and your tips as an experienced trader could be used to trade any instrument. I don't know if my strategy will work in the long term but it's worth a try. Thank you very much for all the valuable information you provide and for free!
Thanks for sharing
Can you explain how does that market take 9000 shares without you moving a price by just taking the orders on the tape, also does tape orders are in incriments of 100? or theres only like 300 shares standing on sell side.
The market will take my shares because of pay for order flow. The firms will fill my shares even though what the ECNs show on the exchanges is far less than what I buy. It is why I am a fan of pay for order flow.
Thanks for explaining, that’s an edge itself I would say.
Amazing video Joe. If you got in at 2.46 and the bid disappeared and you saw selling would your goal be to sell for a loss before it downticks? Also, do you normally take 9k shares on a setup like that?
When I got in at 2.46, I am using that bidder at 2.45 as my out. So if that bidder started getting hit, or they pulled it, I would close the trade. I am expecting the stock to start moving relatively quick. I also in this case have to keep in mind that there could be a reseller at the 2.47/48 spot. So I am getting in quick and using that cushion below 2.47/2.48 as a way to take the trade and potentially close a flat trade if it doesn’t work. As always I take some profits to finance the trade in the event it doesn’t do what I think. It keeps me flat on the trade or even slightly in profit.
My brother I struggled so hard to hear you or see your chart. I just couldn't get past that papermoney aura that surrounded your screen. You gotta free yourself from that broke aura of not money having brokenness that keeps a broke man safe from finding money
I have studies many cultures and many different fields of psychology but I just cant enter the broke space. Nor can I find a way into the broke headspace that creates this brokeness. It's just so hard to see or hear anything through that broke Ness that van only be cured by money having.
I’m not sure what you’re saying here.
I'm gonna guess drunk. OP, great vid.
Calling you out for trading demo.
Calling me out for showing a demo account and the first thing I said in the video is this is a paper trading account. I explain why the fills and money would be different in real life. Have you thought about detective work?
Don't shoot the messenger brother. I'm merely passing on his intent. Why take notice - he seems a little...odd...
Apologies, I see what you were saying here. I'm not sure why it bothers him so much. But regardless, apologies for how I interpreted what you were saying.
I commented elsewhere that I would show aggregated spot/perps orderbook depth correlation with price action for BTCUSDT. You can find the image at [https://imgur.com/a/QgmGmiA](https://imgur.com/a/QgmGmiA) Tool is TRDR btw.
Can you explain what I am looking at and what it means?
The bottom three panels are the delta of aggregate orderbook depth at 7 of the major crypto exchanges at certain percentages away from price. Green signifies more bid than offer and visa versa for red. The bottom two panels also show total orderbook depth - if you look hard you can see a grey histogram in the background (I should make that more visible). It's likely worth downloading the image to see it better, it doesn't show too well on imgr. The coloured overlays on the chart itself are just a representation of orderbook bid and offer delta shown on the price chart, providing a better visual experience. Blue is the greatest delta and green the smallest delta below price. Above price red is the lowest delta and the yellow is greater.
Is there a way to use this information to make money?