How to Read the Tape with Level 2 Data
Early in my career, I was losing money on trades I was right about, and reading the tape is the skill that changed everything for me. In this video, I break down exactly how to use the Level 2 box, Time & Sales window, and ECN book together to identify large buyers and sellers before they tip their hand. You'll learn the difference between visible, refreshing, and hidden orders, how to measure buyer and seller aggression in real time, and what strong bullish vs. bearish tape action actually looks like. This is one of the most powerful and most overlooked skills in short-term trading, and it took me 15 years on Wall Street to fully develop it. I'm handing it to you here so you can start building an edge that pays you back for the rest of your trading career.
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ABOUT ME
If you’re new to my channel, my name is Lance Breitstein. I spent over a decade trading equities at Trillium, setting the record for the highest PNL in a single year as their Top Trader. I trained dozens of traders to become successes while managing Trillium’s Chicago office. With over $100m in verified profits, I now spend my time focused on turning good traders into greats and greats into GOATs. Advisor to SMB Capital and mentor of 7- and 8-figure PER YEAR traders. I am to be profiled in the next edition of Jack Schwager’s Market Wizards.
The journey is never easy. Trading is one of the most difficult, but most rewarding jobs imaginable. I am here to help you on your path, wherever that leads you.
May you want it bad enough to overcome any obstacles.
-(The One) Lance B
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DISCLOSURE Information shared here is for educational purposes only. This is not investment or trading advice. Make your own independent decisions. Full terms: https://theonelanceb.com/terms-of-ser...
Chapters:
00:00 How to Use Level 2 for Trading
00:47 "Reading the Tape"
01:35 Understanding Level 2 Trading Data
04:36 How to Apply Level 2 to In-Play Stocks
6:06 Types of Buying and Selling
10:00 Is Level 2 Bearish or Bullish
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