 All right cyber traders welcome on back here for another fantastic edition of our traders talk workshop here this Tuesday January 16th shortly after 11 a.m. Eastern time. I am tardy my apologies just there So all of a sudden just patiently waiting inside our live trading room and on YouTube and social media like great to see Chuck Grant David Mark Alicia have Charles Manny Margin Kathleen got Wayne Joanne Lee Jeff a full house Actually, just joining us right there inside our live trading room Otherwise like I just said before on social media at cyber trading you you don't have me a webcam today. So I saved you There pretty much from seeing this ugly mug No, actually I got bunch of stuff going on around my home office around my whole apartment now They're finally doing some much needed renovations around my apartment So a lot of banging and drumming going on but otherwise I'll be back on webcam next week Just at cyber trading you be afraid to tell a friend look to spread the good word right there Just on all of our social media streams and platforms alike now With that said wow, we have had a pretty interesting morning at least coming off Martin Luther King and normally for a holiday It takes like a couple days for the market to trickle back into its normal volume and volatility Hey, we were coming off the CPI last week So, you know people were waiting on that and then I'm sure a bunch of families took off Just with the weekend in mind with the three-day weekend maybe make it a four-day weekend either way It's not always right away coming off a major holiday where you're expecting oh for this to start moving this to start moving I mean, hey, we're beginning to get into earning season again All the banks reported on Friday or most of them did and got a couple today in this week But it's just to say that again. We're not getting all the mega caps right away So it's gonna take an extra week for things to get back into the swing of things not only that actually just for what's ahead I don't want to go too much into this but even for what's ahead February we got Washington's birthday in a few weeks time from now So I There's always something that will pop up that kind of puts a pause on the overall Volatility of the stock market of a lot of the trades that we were following now in the sense of Mara You know, hey, how could I not start off by talking about Mara because it's one that we've had our eyes on for a long time You're in traders talk. I'm sure consecutive weeks at this point But since traders talk last week this thing's taken a huge hit ended up falling Breaking below big chart level that we had back from like 20 was it 2670. It was at 2670 I think this was right here this big resistance back from the week before and We were looking for that to become support or hoping for it to be in order for us to see another move up higher Well, if Bitcoin's not gonna look to hold support and if we're gonna see a shake on that Well, of course, we're gonna see these miners look to go with it But man that does not necessarily mean that we would be seeing Mara at damn near 18 or much under that from earlier this morning Right, so even dating back from just Friday from Thursday last week That was Mara broke below this big level 2670 ish it was and really started a big pull back But you know, hey, that's where you say the more it drops. Okay Like where could you find support and the more it dropped throughout that day? I was like then saying, okay Well, damn like if this is really gonna get down to like 20 bucks Then perhaps even we can go lower and down towards a level like the level I had was basically this it was like 1918 1920 ish back from like even the weekly graph here holding really well support back from early 2022 it broke under it it held under it as resistance well broke over it When stock breaks above resistance and it pops off of it, perhaps resistance could become support and going into Friday just the end of last week I was hopeful to see that happen. Well, obviously over time throughout Friday It was we did not really see that support hold Started to but then it eventually broke lower, right? So let me even pull that up for right now This all plays into basically the move that Mara made this morning But you know, y'all kind of tell you what happened on Mara for me earlier today I mentioned it for all this insider live trading room to where I didn't really give this the light of date this morning I didn't really care about it at all this morning. I didn't really set any levels up on my graph So where you happen to see this line on plotting coming up will make it purple I guess just daily chart level weekly chart level it broke under it it broke back above it and At first things were looking pretty good. It made like a 50 cent move off it at the time I even remember writing that in our chat board back on Friday Well, again, we can mention this on a litany of other trades. I mentioned this every week here in traders talk So once again, I'll say what happens when the foot's taken off the gas pedal for this stock for this chart Well the difference between a stock and a car an Automobile that you may be driving is that when you take your when you take your foot off the gas pedal for a car Well, the car just stops The car does not go in reverse for you and tank 60 miles 70 80 miles per hour the other direction does it? At least the court won't buy that so it's just to say at least here the stock Mara the chart ended up seeing this make a lower high it paused But then it ended up pulling back and you know, what's more bound to happen once this support level keeps getting Poked at over time this one here. So eventually it broke below it eventually support became resistance and it tanked into the afternoon so at first it could have been a strong level over time though, we realized it wasn't and Once again, once it breaks down from this as support going into this morning even I would be expecting that 1920 ish 1919 area to be a strong resistance here for today Now with that in mind for today, I just mentioned it before but coming off a major holiday I know better and I'm sure most of our students here know better to where you're not trying to be aggressive with your trading In fact, I want to pull this up inside our room here. See if I can get it posted on kind of just on social media all this right now Yeah, here we go. I just wrote it before I want to get the snipping tool up right now and just show all of us on stream I wrote this at 835 this morning 835 this morning mark it down plus coming off a major holiday Equals I'm taking it lightly today. There's my ugly mug But you know, otherwise at least with that I did not give Mara the light of day I actually didn't have a student private chat me this morning asking what I was looking at But if you know, I work to normally I get a couple and I always, you know, invite you to Well, if anyone were to have messaged me at 9 o'clock this morning, I'd be telling them Hey, I didn't even plot any levels on this Mara chart here I didn't really the only levels I started plotting on this graph were on a coaching call I just had with one of our students before so once the market opened today. What happens? Well, Mara dropped. I mean we saw this pull back pretty quickly and it's not really much of a surprise just yet I mean last two days we saw a drop off For anyone here on social media, especially inside our live trading room because I know, you know, like Bill Grant Wayne, etc I know, you know this But for anyone new anyone on social media, I love Bitcoin and crypto. I'm a, you know, bull long term I'm always looking for a move on Mara, especially a bounce or a breakout either or I'll take either or bounce or breakout But I'm looking for a move right where I could buy So when I see this drop off right away, I'm thinking all right Well, you know, if there is a really easy to see level that I can quickly gravitate to then I could try and jump in But if it keeps dropping off after 9 35 and the time is like 9 40 in the morning 9 41 in the morning 9 Well, that's where I'm going to ask us right here, especially those that, you know, no, like I'd said before Bill Wayne, you know, Grant What time normally do we expect reversals to happen? If it's not at 9 35 in the morning or right before 9 35 in the morning, then what time is it pretty much afterwards? Mani, Wayne, Sam, yeah 10 15 10 30, right? So when Mara started to bounce back up out of nowhere here I was a bit thrown off especially especially Since I didn't have any level set. I mean, hey, what if there was a strong level from the daily chart? You know around 1750 ish or 1740 ish for that matter I still wouldn't tell you with a straight face that I definitely would have jumped in there But if I had my levels already set if I knew where the big money was trading at beforehand You better believe I'll have at least a little bit more confidence in me to try You know what I mean, but it just goes to show. Hey, this popped up pretty quickly and unfortunately I wasn't there to take the initial entry All right. Well key phrase initial so over time we ended up working with what we were dealt with here, right? Now this made a very strong bounce back up basically over a dollar bounce back up towards where it was trading at prior to the market opening, right? All right. Well, you see the purple line at the top of the screen there I did the elite one of the lines just before so the answer to a degree was on the screen just earlier But if I don't have any levels set on this graph just yet And this is starting to bounce back up here pretty suddenly and I think that there could be a chance to jump in Then let me ask Let me ask all of our students here inside our trading room You know when you're when you're trading yourself when you're about to jump in a trader when you're looking at a stock regardless of Mara here What levels do you find? Yourself to be the most confident in using Now the way I'm phrasing that question I'm framing that question specifically because there's Going to be more than just one answer. I'm looking for here You know, I'm asking students that are trading themselves that are risking money themselves on trades that they're taking So, you know when you're pulling the trigger when you're looking at a stock and hey, you don't have any level set yet You know what prices what levels come to mind to you that you would feel overtly confident in at least considering Now a lot of us are answering 50 cent levels whole numbers and you know, hey, that's part of the answer That's part of it. That's our north star There is going to be another answer though here for this one I mean, of course, that's the first one that you could think about For a trade like mara here. I'd probably just resort to whole numbers I would not really be too jumpy to every 50 cents. This is a You know level three stock. I'd say category three stock at least sometimes a level four So maybe 18 maybe 19 there, right possibly Sam the v-wap possibly right that could be a good one You know, you want to see how it looks at least prior to the opening bell You want to see how it looks prior to you jumping in if the stock is very chippy and going around that v-wap price Quite often not like holding it well then I wouldn't say so but it's possible I mean, you can I guess say that on any trade right or on any price But you know, we'll consider v-wap there now otherwise a lot of us are saying though the closing bell print And then otherwise the opening bell print, right? Now if you were with me in the morning on the audio while I was on the mic with Fausto You heard me mention. Well, hey the stock is moving back up towards its open price here Basically where it was at right when the market opened And here on book map. I'll show you It's that 1863 The 565 000 share block print that got filled there right at the market open Like alan says who most recently chatted here big money. Yeah, I'd say that's big money if anything, right? now compare that So, you know, some of the iceberg orders that were at least out there this morning, you know, this did have a few different icebergs out there Well, this one at least this one was at 18 bucks Whole number level one of the lines that we just plotted 209 000 shares It's pretty damn big to me Let me ask us though I think you know the answer if you've been a a member here inside our live trading room but What's the bigger size you tell me what a larger number is 209 000 or uh 565 000 you tell me And we know the answer But if we are factoring 18 in as a key level, oh, it's a whole number Well, yeah, of course Not only is it a whole number, but it just blatantly shows at 210 000 share iceberg here So this of course is a level 18 Well, if this is of course a level then how meaningful how you know, how obvious should this be that 1863 565 000 share block print, right? Now One other thing though is we'll dull this chart up here in just a second We have a few lines already, but you know, some of us already wrote it in the chat I hope I can go back to it with the holiday, right? We were off yesterday Martin Luther King Hope I can go back to this Oh, so it's suck if I don't if I'm not able to show it I got the cheat code to basically show you but you know really at the closing price back on Friday the last trading day And just from last week, you know, I'm certain that we had perhaps an even larger transaction that got filled there All right. What's a larger size? 565 000 or 806 000 So This right here is the closing bell print just from the previous trading day, right? Just from the previous trading day now It's not just the previous trading day It's it's Friday and that means that this closing price at 1898 is not just the closing price from the previous trading day But it is the closing price From last Weeks candle, right? And you know, hey going into this morning that is a point of significance to me So we have two levels that we'll look to plot right here, you know, 1898, which Mind you is right there next to 19. You know, we assume 19 to be a level We assume it but you know, hey when we have this 806 000 share block print filled there from the end of last week on Well, that's going to provide some extra padding to that 19 level, right? You got to believe that 19 level is now going to be that much stronger with that 806 000 share block print So we have that and then we'll also go. We had the 1863, right? Basically right there, right? Basically right there Now there's a lot of lines that might look like here. I'm going to zoom in make it easy to say Just give me a sec. I don't like having so many lines my graph either, trust me But when you have it pretty much set here a little bit easier on the eyes to kind of see where support resistances and the more it goes up, then you'll kind of see All right, what's your next level here over time? More or less from the time where this did pop here pretty suddenly It threw me for a loop Fausto took a nice trade on I think it was coin based if I'm not mistaken Maybe it was Mara. He jumped in maybe it was Mara. He actually jumped in on as it ran up from this point You know, hey, I'm thrown off because I didn't have my level set, but Even if I did this popped Randomly kind of in the sense of the cyber clock time, you know after 9 35 and prior to 10 30 10 15 So I am playing by the rule book here where I'm normally not trying to just jump right in there Well, hey, did pop So that's where we have to say let's just kind of work with what we're dealt with and say If this could break above resistance and it could run from resistance for Sam Cath and all of our students here in the chat board What do we expect resistance to get flipped into? support Okay, so by the time this breaks above 18 and it runs up Well, it's easy to say what happens. You're looking at this already painted graph, but This is what I was focused on in the moment at least I didn't have my levels set before the open But it gave us a really good opportunity to anticipate support off that 18 level and from there It led to the entry so, you know, I was not confident to do this on full size because of just kind of being caught off guard initially so I wasn't doing this on a thousand shares, but Hey, I mean at this point it's primetime trading still and Let's see if there's some trade that we could take at least on the stock Right at least something I can grab money off of so if it's not full size It's half size and from there it made a nice move back up towards 1850 and even higher But that's where I ended up getting out just right off that 1850 level under that 1863 price Now over time. Hey ended up making a pretty good bounce, but It failed to eventually break higher It tried to actually here at this point But when I was on my coaching call with one of our students Hey, I didn't have some of these levels plotted just yet Actually, the only one rather I should say I did not have plotted really was Both the 19 level or 1898 So by the time it started to push back up here I was not back in it But I was looking for a move and you know, I was on on the call with one of my students just before and Obviously I'm answering questions that he had you know sent over previous and Hey, if there's a move I can capture on this stock then I'll go for it But I wasn't as focused yet on 1898 I was not as focused yet on friday's closing price at the time Well again, because I didn't have my damn level set from pre-market. I didn't do my homework this morning I was lazy So I had to kind of improvise with my student for an end. I'm like, all right. Well, what's our next level here If there is a trade and I went back. I'm like, well, you got the 1898 here and plotted it I'm like, well, okay. Well, that makes sense as to why it held so strongly right here as resistance Now from there I told him like, all right Well, the more times that this could look to nip and gnaw that level perhaps it could look to make a better move over time But just on the next test from there it led to that reaction, right led to that big move shortly after Not the big move that you'd want to see if you took the trade but once it pulled back It's like, okay. Well, unless it gets back up there soon enough Otherwise it's more bound to make a lower low If it's not going to make a higher high It's not guaranteed to make a lower low, but the probability of it making a lower low sharply increases Right. So at that point once it really broke down here, we just kind of moved on said, all right Well, I guess we'll kind of see what happens while I'm in traders talk or afterwards or whatever So even here just recently, I mean, I'm kind of just doing this one on the fly now But you know, as you can see, I'm not in Mauer or anything really at this time But this didn't make my famed under and over here It's kind of glossed over 18 right see that there If I was jumpy to take that trade looking for a bounce I would not have taken that trade right there because I at least want to stick with my under and over rule Right that you know looking for a support level at least in the sense of looking for a bounce I'd rather see it make that under and over so, you know, transparently enough If this was like really here at the time and I was kind of saying that to you and it bounced without me I wouldn't have cared about missing 30 or so cents 40 or so cents Uh, you know, there's always stocks that are going to make a move that are not In accordance to the strategy that you're you know really using So you just got to you just got to kind of live with that and eat it a little bit Maybe there is going to be a bounce over time here as soon as it's dragging back down Maybe with this already kind of hitting 18 a few times or trying to hold over 18 a couple times Maybe the next time it comes down to 18 Maybe just slashes right below that level and there's just no entry at all in that sense You don't want to catch a falling knife. So you are looking for that under then over If this just breaks under and just stays damn under that's it. I mean even earlier Before it bounced it broke under 18 here and dropped down like 20 cents Immediately off the break of the level So that's where pretty quickly. Okay, well it's dropping 20 cents insta from that level All right, well clearly supports being broken there for a bit. It's not just a you know, tiny dinky little under and over In the sense of over and under this is a pretty good example of that seeing a false breakout and resistance holding here over under drop Right Same thing happened here over under drop So you should know pretty quickly in that sense of looking for that reversal That's all All right, so I'm actually going to keep these levels up here because I didn't have them set prior to traders talk So I got to make sure I'm prepped up for this afternoon if I'm looking to trade mara at least right All right, so again case and point is it's not just josh being lazy on a given day It's just we're coming off a holiday So we're not really expecting a whole lot to be happening out the gate. I know that I think there is the uh Caucus last night, you know, there was a little movement on the trump stock d-wack And actually just popped before so I'm happy. I didn't really miss too much on this just now since it's now completely tanking But you know, even this in pre-market there was a chance for this to try and pop, but It wasn't even looking too good in pre-market at the time. So Coming off a holiday there really is not much out there that I'm really seeking as a great move You know, if it shows it's up 100 pre-market if it shows it's up 50 percent pre-market 30 percent And it's trading millions of shares then that's something I'd be more gravitated towards and I didn't really set too many levels up on this one coming up this next one I'm going to kind of just go over with you here, but the el ab I mean, this is in the trash now. It's been in the trash since 10 a.m It's I mean completely filled the gap at this point I'm going to give you a little history lesson before I go into the meat and potatoes of this trade here But the stock was basically one of the two up big in pre-market that we were a lot more gravitated towards early on, right? So that's where I said, you know, that's kind of where my initial focus was But let's do a little history lesson here. I don't even know if the stock's still listed here. Hopefully it is You know vs me. They're probably not going to be soon 38 cents. Now. Are you kidding me? I remember this like the back of my hands I wish I can go back and actually show you the exact day This stock back on october 5th. It was broke all-time highs new IPO in just from a few days prior We don't really trade IPOs too much Uh now in the event where it's breaking an all-time high That's different and if it's showing really good volume on the order book Meaning if level 3 here shows a very tight spread and if level 3 shows a really filled in order book buyers and sellers Big orders alike It's tradable So on this day, if you can at least believe it here, it doesn't look good But this was a really good trade on this morning It broke out from like four bucks at the open popped and broke new all-time highs It was a really great trade for the first hour But I remember this next part like the back of my hand because it ended up popping back over $8 at the time and I jumped in the trade action And it popped up instantly like 50 60 cents As quickly as it popped up 50 60 cents it dropped back down to my level And hey, you know, if you've been around the block with us long enough I've been you know, obviously here going on 10 years I've learned the hard way at times, but You learn not to learn the hard way, right? So you learn to get out of the trade before the thing really corrects that much further And thank god I did on that day because look at what happened almost immediately after you could basically see this just Continue dropping down and down and down and down and down it and I kept going right Great trade at first Horrible trade over time Follow along ELAB New IPO go back on the daily chart here This is all the the you know history that we have on this stock. It's an IPO back from like november so all-time high was four dollars and 24 cents And this morning in the pre-market session at least This stock was breaking all-time highs. It made a pretty good pop at first Now when it first made this move I was pretty jumpy towards it, but the order book was not Good, it's not what I wanted it to be So I I missed out on this pop and I was waiting for the for the order book to fill in a lot more And it really didn't fill in much more But I said, all right, at least if we just do this on a really small size and we're not going to like do this Too crazy There is a case to see this make a nice pop So this was actually a good trade in pre-market from me where this broke It was right here once it broke back above 350 and really the v-wap here it was, you know led to a good push But And this is the big but behind this because of course it ended up going up a little bit more It popped up a little bit higher and it broke all-time highs technically right It broke above the you know daily chart all-time high that we had at 424 So I was feeling really good about this trade But as soon as it made that pop and it broke all-time highs it pulled back and it Immediately sank back down again, and I knew rather quickly it reminded me Just I have that vs me trade in the back of my head permanently going forward, you know You don't forget a move like that over time So once I saw this pulled back after right breaking all-time It just reminded me instantly and I just got out I forgot even where I got out on the trade it was above four But it was just to just get the hell out. That's it just that's it run And afterwards well, you know, there was a case to see a try again There was I mean, you know, hey, there are stocks that Gain our trust over time just look at Although unless it's tanking right now as I'm talking, you know look at la. Yes The stock's been doing pretty good for us the last few days You know on the first day it popped I wouldn't have expected it, but it's gaining our trust It's certainly possible for that elab to gain our trust But if it's not going to make that high or high over time Again, I kind of give you the the greatest hits here every week in traders talk all my You know famous catch phrases But the difference between a stock and a car again The the card does not go in reverse for you The card does not magically put its foot on the gas pedal for you as you're in reverse And the car does not go 60 80 80 miles per hour the opposite direction, right? The car just stops This goes in reverse for you. All right So That's where you don't want to get stuck hoping and holding on to a day trade that we're calling out Let alone something that we have no experience with really trading before we're not familiar with this stock at all We've known it for a cup of coffee this morning and that was it That was pretty much it So wouldn't shock me if this only continues to pull back lower over time here, but You know that was pretty much the two I wanted to kind of go over as far as I kind of trade analysis at least there Now there's a bunch of questions. I did want to get through at least from email So actually a couple that I had mentioned to my students here that I told them I'd get back to them in this workshop on actually so first one actually sent in from last night from remesh And you know, this was just kind of in accordance to think or swim So remesh was asking in according to think or swim only level two information is available Where do we get level level three information from? so When we use the the phrases level three and level four That's kind of ctu Codename that's like ctu nickname Language for the order book for the data that you should be subscribing to and getting What I mean by that is and I mentioned this with trade station, but the same to be said with thinkorswim If you were to say to thinkorswim, hey, let me get your level three data or oh, let me get your level four data They're not going to really know what you're talking about as much. They're going to say, hey, that's like for market makers That's our nickname for the type of data that's available out there generally So not every broker even has the type of data that thinkorswim has or trade station has When you're talking to thinkorswim mentioned specifically Book map that's what we nicknamed level four That's going to give you the data at least there now And I know there's a big transition with Schwab and thinkorswim. We've been talking about this for months now So, you know, if you are not able to get book map data via thinkorswim If you are not able to then I would strongly suggest for you to go directly to the nazdac website data store dot nazdac.com I'm typing that here in the chat board Oh, it doesn't hyperlink. All right, give me a sec here rich Maybe you could hyperlink that there for me if you can but um, basically if you're going to go to the link I'm going to type d in the chat board there again. That's data store data store dot nazdac dot com Right from there the nazdac book viewer is 15 bucks a month. That is directly from the nazdac site That's the one that Faust on myself heavily recommend for anyone else at least now You know, if you're on thinkorswim, you should be able to get at least book map. That's what we nickname level four So that's what I'd recommend there Um, but if not, though, then the nazdac book viewer and that's the you know, the link right there So what's the difference at least between what we call level two and what we call level three? That's a better question. I could definitely answer there for remesh. So uh level two is my program right here In the colorful program with all the red blue, you know, yellow beige By all the numbers and colors here Uh, my level three is i nick name it. This is officially known as the trade station matrix So this is what we nickname level three. This aggregates all of the orders at each Price level together. It does the math for you. It adds up all of the orders being routed at each price level Regardless of the ecn or exchange So just level two breaks that down more makes it more specific for you to see And if you don't have this type of program or if you don't have quote unquote level three Again, the nazdac book viewer would be great for that Then i'd say that it would be a little bit more difficult to only rely on the level two data All right, uh during the trial period We were given to understand that your entire strategy is to follow the money based on order flow analysis Which platform gives the total picture of the order flow redirecting or reflecting all orders on various ecns so again if Um, you're on thinkorswim. I'd say that you're in great hands there because they've had this new or at least Recently new partnership at this point with book map again book map. So, you know talk to thinkorswim about that But otherwise though, I would say trade station is a great brokerage. I'd say that uh Interactive brokers is a great brokerage, you know a very day trading friendly And they have the type of data that we encourage traders to subscribe to Those are the three best I'd say, you know, if you're on fidelity active trader pro We have a few long time students that use that and it's a really sleek platform I like I like active trader pro too from fidelity So, uh, and of course, obviously Schwab street smart edge Uh, you know, I'm kind of linking that in my head with thinkorswim like you so You know, really those are kind of your major ones that we would normally recommend You don't want to have a um online brokerage meaning if you don't have the platform Visibly downloaded on your computer if you're just on www.you know e-trade.com or trade station.com even if you're just on the web Version Then I don't find that you're going to have as clean order execution Compared to using the downloadable platform at least so to me that plays a large part with my entries at least Pretty much if the brokerage is direct access You know, if it has real time buy and sell data, then you're good to go All right So actually this plays on part with the question from remesha actually just before from sayed Question from him and he would like to understand how to use the book viewer better nasdaq book viewer. That is so actually a really good segue Give me a moment and pull this bad boy up right now Nasdaq book viewer up here in full One sec. Let me just make sure i'm good to go Share his bid order. Ooh nice and clean. They made it for me today. Good. All right, so Sayed wants to understand how to use nasdaq book viewer better Watched a few videos of foustas but not able to fully grasp the concept Uh, we could be going over this in real time. Absolutely. So first and foremost make sure with nasdaq book viewer Oh, I might I say actually just a little housekeeping here I I take an infinite amount of more time to break this down in our full classes phases one and two namely I take at least three separate 60 minute classes. I guess that's not infinite infinite. Is it but you know We have three full 60 minute classes to go over Level three the nasdaq book viewer here, you know and otherwise like the matrix So, you know using the nasdaq book viewer. Let's just go over a quick example Make sure that this price uh, this price field is checked off Because that's just where you're going to be able to kind of see the orders a lot easier Let me actually do this That's throwing me off there. Okay, so let's move around for a split second. We'll just kind of do a quick live example Something that is moving in a direction that we like Spy is really choppy. So it might be a little tough Uh, navidia amd. Okay amd is a good one because it popped up early this morning simple trends All right, so amd is going to have some resistance You could even you could even use the filter button right here And you can actually just filter this to only show a certain order size So let's just really only show, you know orders of 500 shares Or larger Prices where there's only 500 shares or larger So this is where I would show you right here On the naztac book viewer at 160 dollars right here It changes with the color because you know, the price is going up and down So what I want you to focus on is the fact that there is a price here 160 It has 81 848 shares on the sell side Meaning that that's resistance. You have that many shares looking to be sold Now the column to the right of that That's even you know, at least for this example that much more kind of You know glaring there's nearly 1300 total orders out there making up the 81 500 plus shares I mean, that's a huge difference in orders in the number of orders might I say You know, even if that was 100 total orders making that up I'd find that to be pretty large, you know a much larger number of orders compared to 17 or 11 or 26, you know, I mean this is 1300 shares or 1300 orders might I say making this Total size up. So it just goes to show that at 160 dollars. You have a clear definitive support level to work with there Or resistance level might I say if I said support my part 160 is a definitive resistance level to work with All right, so I mean right now I would not be expecting AMD to pop this 160 just yet It has to test it the first time there and normally for the first test of big resistance I would expect resistance to to hold meaning, you know, it might make a pop and drop Or it might just hold it perfectly from there and that's it So even if it does touch 160 later on today The initial touch or test I would be expecting a false breakout Now actually really quick. Let me jump over to YouTube getting a chat right now mark me. You know, keep in mind Just join us inside our live trading room to get the full service of our trader stock workshop and really our full You know live trading room. So I'm just catching this chat right now from mark on youtube Please explain better level three and how to place Trades with take profit and stop loss. So again, just in terms of the overall answer that I can give you I need probably More hours on a hand that I can count probably to give you the full a to z full service answer I'm just catching this chat right now. So I really hope a lot of what we've covered already Explained at least how to better use level three But in terms of just the where to set stops where to place your entries I need a lot more time to work with students within it, you know in our classes on that really go over several examples and just the mechanics of setting your order up I don't know why that was even on market right there. That could have just been a quick touch right there But normally using limit orders for any of our entries and you know, a lot of our entries are based on preparation I mean all of your entries should be based on preparation, but If you're not prepared to take a trade then you're then you don't know where your big levels are And if you don't know where your big levels are to risk thousands and thousands of your hard earned dollars Then that kind of sounds like gambling to me my friends So that's where I say I'm not here to just take a trade to take a trade, right? And I feel that every one of us listening to this conversation Are you know pretty much in agreement with that like obviously yeah, of course that makes sense well We all love trading. We all love being here. This is fun, right? I mean hey be honest with you if trading wasn't fun Probably wouldn't still be here after doing this for 10 years, right? I find this worth my time and fun not literally just in the sense of making money I mean it is but in the sense of the passion behind it what that means is Emotions can come into play that can take you away from your strategy and perhaps you take a trade Oh, this looks pretty good. Oh now he's making a bounce back up here. Maybe I could jump in over 18 and Well, what's the overall trend here recently and from earlier and yesterday or friday? Just there there's a time and a place, right? Now I say that when it comes to having more confidence than not Uh, there could always be a time and a place to take a trade But I'm not always going to feel overtly confident to do so So as a new trader joining us here, I just want you to realize it takes a little time to shake the emotion off of Oh, shit. This is moving up without me. Ah, damn Guys markets not permanently closing outside of holidays like we just had for mardin luther king day Uh, we're going to be back at it the next day There might be a trade in 10 minutes from now that we call out after we finish up traders talk That is actually a much better trade on the eyes and it's easier for us to set up and You know, there's more confidence to take that type of trade, right? Or even later on today Let's just say during a more appropriate trading time 330. There could be something even easier there, right? so That's where I just want to generally say I'm not smiling and doing backflips if I miss out on a giant move and the stock's pumping up without me But if I didn't have the time to prep that trade up and if I didn't know where my big levels were I can't beat myself up too much just move on to the next trade You know, that's kind of just my Mindset it's easy to kind of blurt that mindset out to you here when I'm not in a trade right now when we're you know In a workshop, but you have to do your best to try and keep that mindset at all times There's a lot of factors that could take your That that could really mess up your psyche when it comes to trading not just bad things good things You might be killing it on a morning and you might not really you know really be Too focused on on your stops after a certain point, you know, you might be up so much like oh, okay Let's keep it going Right and we'll talk more about this in our classes more even the phase two course coming up in a couple In a week from now. We'll talk more about that with discipline trader psychology, etc. So uh really quick Email from one of our students here as well I was going to mention both mara and coinbase, but you were talking about it in the trading room I have options trades on both. I may e-cat a win on mara, but coinbase not so much at the moment Maybe we could discuss the overall market and what is going on there. I'm focused on classes and training this week. So Again, this is from an unnamed student. I did not name the student So the reason I did not name is because this is a similar conversation that I had It could have been with this student or someone else, but it's just to say this What's the direction of the stock market folks the last three months could I ask you that? What's the direction the last three months? What's the direction the last year? I'm not i'm not looking for curveball questions either. I'm not looking I'm not asking like up then flat then down then Up or down right over the last 365 days up or down From november, which is about you know two months ago certainly up. So that's the answer to the first question and then back from this time last year up We are moving up right That's the general direction and not only from the last year, but of course where we look more on a macro level aside from covet What is the direction for anyone? You know Waiting for the grass to turn purple instead of green I hate to break it to you the grass is going to be green and what I mean by that is it's a silly comparison, but If you're waiting for a pullback and a drop It might happen. Maybe it will And and if you're bearish and the market pulls back I am rooting you on but That's an if and that's not based on any sort of charting or any sort of trend right That's the first two things that come to mind with talking about not just a day trade which we've been doing mainly here but for my student More on a macro level more on an overall market basis, right? And you know again to be transparent that was a conversation I had with a couple students and I think this one as well from months ago right and We are still pushing up Now not to this specific student to others but to actually long time students that've been with me for like Well, not even long time might I say but really if you've been with me back from even august You know, I was looking for a melt-up in the stock market really at that time And I was wrong at first because we pulled back into september into october, but then Obviously we got what I was looking for and but it's largely based off the overall trend So that's what I'm saying here. I'm still bullish. I'm looking for more of a pop over time here across the markets Uh, you know, why not? You have a nice trend here And now if you can kind of see resistance get flipped into support a very loose line might I might I say I'm just placing here But roughly around 472 on a number of weeks in a row It seems like it was holding pretty strong I could probably polish that line up a little bit better, but either way. I mean it's pretty good Well, look what's happening right now even this week so far to begin We've had a good bounce And we're holding over 472 So unless if we continue to hold back under that price I wouldn't be overtly Jumpy to look for a bearish move And even if that level does break and this drops off a tiny amount Well, you still have to take it level by level here. It looks like roughly 458 459 was a pretty good level Below that I mean that would have to be broken next for the next leg down from So even if you start off good on a bearish move with the market here Like if you were to get that coming up You're not out of the you know weeds just yet and it's just really to say look what happened over time You know for anyone waiting for the next pandemic or a next big drop or recession in the market I don't know how long you'll be waiting. Maybe it's not too long. Maybe it's a long time from now I don't have that answer Because the charts are telling me right now at least that that's not my focal point So once I start to see a true case of lower highs build And really more so kind of seeing a lower low over time Then that would be something for me to focus on as a potential short Like just this is a very shoot from the hip very shoot from the hip here because I wasn't looking to go short as much around this time But it's just hey once this ended up kind of breaking from this little consolidation area here I wasn't really expecting a strong bounce just yet right Once it makes the lower low. All right. Well, that's a bit more confirmation to see more of a downturn, right? So that's just overall when it comes to the spy and the overall markets But you know the same to be said for pretty much most stocks something like coinbase is a little different because You know if bitcoin does run up really strongly heading into this year and at some point if the s&p You know goes the other way if there is divergence there Then what way would coinbase pop or drop? You know what way would it move because they own so much bitcoin that hey Maybe it goes up with the value of bitcoin going up But if it's a major us equity that follows, you know the s&p or that and the dow is dropping You don't have that answer So it's a little tougher for a stock like coinbase or even a stock like mara in that sense, but Just overall markets you gotta respect the overall trends and if you haven't yet I Hope you're not down a lot of money It's as simple as that You know go encounter trends You either need to be very high probability trader in order to have the confidence to trade real size You're not going to have the confidence and you'll continue to do it without kind of learning the lesson of You'll probably get more meat off the bone working with the trend compared to going against it or You'll lose enough to where you just say All right. Well, I don't really think this is for me And we don't want that part to happen because we want you to at least focus on going with the trend first The more that we can at least do that then we're going to gain confidence over time with knowing when it's more appropriate to Go with the trend versus certainly going against it All right, so really quick folks just got a couple more emails to go through here They might not even be questioning emails actually it might be just kind of uh Yeah, like here's one really quick email from kent actually just saying thanks for email I've been trading amd in this morning and watching the spies So hope kent has been doing pretty good on that amd trade I know one of our gold students tiago called it out and pre-market off of 150 and I said to him right away Which I mean, how could you not say to him? It was like such a good call out. It was a good setup It was just yeah, I mean if it could break over 150 there is a case to see a decent move I would not have expected up 8% today But man for kent or tiago that they have jumped in on that amd trade. I hope you killed it kent basically just saying he uses you know, quote-unquote level three and he has for a while It's a big help. He's interested in learning more about book map level four is we nick name it So, uh, you know again, that's something I could dive a lot further into in our main curriculum I did show it a lot here in our classes in this workshop just before So I hope that you learned a little bit more about it as I kind of showed mara and went through the opening bell print there things of that nature But definitely if you want to chat me just on the side I can go over that a little bit more in a private chat but a lot further in our main program the gold the gold course there Uh, last one from syed actually you had to send this one actually just before we started traders talk as well So, uh, one stock if you can cover city group see I expected it to drop after the negative earnings in bad quarter, but instead it went the other way Let me know what you have to say on this. So To a loose degree, right? You could say well, hey, if the markets keep moving upward then it's going to be tougher for this to go Really that sharply down on its own news But otherwise, yeah, I would figure with down earnings Maybe and I don't know if this actually happens. I didn't say this but like let's just say if they Uh lowered their guidance I mean to me that's even more of a reason to try and go short, right? So when did they have their earnings? That's the question that I don't know. Is it was it from the 11th? Was it from the 11th to scap down? That part i'm not really too too fond Not too sure on just there But either way just to say on this trade well level three and level four do play a big part with knowing Is it going to continue dropping or is it more prone to make a bounce over time? Right, so i'm just going to use this from today just from this morning Mind you, but we'll see if there's anything that popped up here on level four for this city bank trade Actually, I'll kill two birds with one stone I'm going to go over city bank for sayed and I'm going to go over book math for kent as you wrap up So let me ask us here in the chat right now. Manny, jill, rob, jeff, alex, all of us here Where do you see the dark red line going across the page there the dark red line going across the page? Yeah herb and sam 51 15 ish 51 like right there right pretty much perfect So 51 15 ish. It's about 11 12 000 shares on the buy side Uh, you know for a five dollar stock 11 12 000 shares not really that big for a 51 dollar stock I'd say it's pretty decent Book map shows dark red line here going across the entire page here really prior to the opening bell So that was at 51 15 Basically right there just a couple pennies off might I say but It broke under it it dropped off from it here and that's where you're thinking Oh, okay. Well broke below support like that and dropped so All right. Well, I guess support should become resistance at first And it tried to become resistance there initially But over time once it begins to move above it if it could hold back above where we had that order on the bid It leaves to a pretty good chance where this might look to reverse right? Easy to say in hindsight, you know, I didn't call this out this morning. We just went through this really fast here, but Hey, we had that line on level four from, you know level three and level four otherwise at 51 15 that 12 000 share order on the bid And the more it holds over that price then there is a chance for this to look to reverse and make a move back upward, right? So although this ended up bottoming out actually around the same time as Mara did around that 9 45 time Uh, kind of unexpectedly compared to the cyber clock Well, it ended up making a pretty good move up, right? And it really started to make that better move well Hey around 10 15 a little before 10 30 a little before 10 30 But at least you had time to wait and there was some good support to see there From that iceberg and you know timed up pretty nicely with the cyber clock there going into 10 30 All right, folks, I got to jump off right now We got a long day of coaching ahead on the stick pretty much up until 2 30 this afternoon, right? So coming up just at 2 30 p.m I will be back on the mic just for the afternoon meeting if you're on social media right now We encourage you to join us inside our live trading room get the full service of our main chat board Get the chance to speak to fellow students and instructors like myself And of course the man himself that being Fausto But if you if you have any other questions feel free to shoot me over a quick email josh at cttrading.com Otherwise just scan that qr code on the top left of the stream Get you access to our live trading room for a week long trial Get all these workshops recorded for you there on our student portal shown on our website But otherwise we look forward to seeing you at least next week and uh