 All right guys welcome back. It's Fausto again with part 3 about how to use the book viewer on Nasdaq and how to compare it to other Platforms that are out there. I mean book viewers not the only platform out there But it is the most popular one So a lot of people like to get it and review it if you see them some of my other videos You probably notice that we we really stress using the book viewer because this is where the level 3 is It's where the market makers are this way they place all the orders Actually, it's where you see a lot of the high frequency trading and if you haven't noticed watching New York Stock Exchange It's really nobody down there anymore. Everything is electronic now So the question is where are these orders are where they coming from? So what we're looking at right now is we're looking at the book viewer And if you notice from part 2 that I just did I kind of showed you how to come or Customize it and how I like it and how you should be viewing it and most importantly what we should be focusing on on what's called the iceberg orders on the On the book viewer now what I have over here. I'm going to bring this over here on the left So can you just give me a second put this over here and I'm going to bring over a Platform that's pretty popular we use here at Cybertrain University. It's called the The trade station platform and you're looking at the new version of 10.0 And I want to kind of like compare and show you a little bit of how we utilize it because I want to use the charts on The on the trade station platform and I want you to compare their book viewer verse How what they call their matrix version of it now once again, let me just bring over the stock You could see it right here. Here's the book viewer right here and You know it I'm going to go out there and I'm going to bring up a stock Let me see like for example looking at the stock symbol JD right Now JD is a stock that's you know, it's up today a little bit. It's up about 5% You got about close to about What time is it now? It's about almost one o'clock in the afternoon here here in New York on the on the east coast and JD's up, you know trade about 27 million shares almost so stock was pretty active today And this is a little bit more of a brand name stock You know the problem when you're dealing with a little bit of these random stocks You can't really see as much as you would like now right here in the middle You probably heard of this is called level 2 now level 2 has been outdated personally since the 90s NASDAQ was really trying to get rid of it a long time ago, but apparently they haven't It looks great. It looks cool, and I did a video on level 2 So you're more than happy to learn a little bit more about that I don't use level 2 because it's completely outdated You don't really see all the orders out there You're only basically seeing the best bid and best offer out there So it's one of the reasons why a lot of people, you know, like I said broker firms give me to you for free and That's all it's worth now when you look over here on the right. This is basically called The Matrix now I'm gonna bring the book the the I'm gonna show you the big difference between the book viewer and The Matrix now the Matrix When you're dealing with more of a professional platform and when you're somebody like me a day trader you have to You just can't depend on where you'll see just one Market one order. There are other ECNs out there now ECNs once again are abbreviated electronic communication network, which allows you to become a market maker Now if you look over here on the level 2, there are a few ECNs out there. There's a Cincinnati exchange There's bats there's EGG X is a New York Stock Exchange. So there are multiple ECNs. They're just not the book viewer now When you're looking at the book view, unfortunately, you're only looking at one book It is a very popular book a lot of people use it You'll see a lot of big orders out there, but when you're looking at a stock like this and You're looking at these orders like for example, if we're looking all the way down here For example, let's see $29.19 so you got about what close to 17,000 shares if you go over here and You look right here at 20 at 29 19 which is what we were just looking at Those orders are pretty much the same. So you're basically Looking at those orders actually this one's moving a little bit quicker But those orders are pretty much the same right there. It looks like there's one order a little bit higher On this one. So it looks like there's a it looks like all the orders that are that are on the book viewer are actually on the On on on here. So babe, but on the the Matrix I apologize now but look over here at 2912 you see it says a thousand shares. Well, guess what? There's more than a thousand. There's five thousand four thousand He said number trading two thousand. So there's actually more Orders that are trading at these levels than the ones above So when you're looking at it and you're looking at book viewer and say well, there's really there's only 1,100 shares Looking to be sold at the best offer. That's really not true There's actually more orders because there are more markets out there So that is really the big issue about you know, you when you're looking at the book viewer It's a great tool. It's got some great features but you're not always seeing all the orders that are out there and that could cause a big issue when it comes to Trading in today's market. So that that's where that comes now Let me look at look at show you something a little bit a stock that we basically traded today and I don't know if you guys saw a stock. This is what would us day traders look at We look at a stock like if you look over here on the left hand side. There was a big runner-up today Bpth is what day traders basically trade and this stock if you notice, which is kind of shocking It ran from $2.50 here in in the morning hours and within an hour and a half A little bit more up to about 1130 stock ran almost all the way up to $8.50 now Some of us probably never even seen or been in a stock like this But here at Cybertrain diversity this risk basically what we trade all day long we look for stocks like these with these really big moves and we basically they trade them and You know and and but how do we know what's going up? See that's what people always ask How do you know what's going up? Well, remember one thing how to stocks go up and go down Supplying demand and when you're looking at this chart over here And this is an intraday chart up on top and this is a daily chart on the right And if you notice us day traders, we don't use indicators Okay, we keep it very simple the problem with indicators is their laggers, you know And if you watch an indicator by Tommy figure it out. You're usually too late It works for swing trading option trading forks, but if you are a day trader, we would never taught ever to use indicators Because once again, you're always one step behind and plus there's so many out of us so many them out there our number one indicator Really is just following the money. So I'm gonna bring up the stock right here and When you're dealing with something that's not so much of a brand name stock because this is what day traders do We look for stocks like this now if you look at this BP TH she was a big big winner and You know stock had some really big moves and if you scroll down what we're looking for is we're looking for a big big orders And you could see that we got 5,000 share orders 2,000 share orders at these prices and when you're looking up over here on the right, you know You're obviously getting more you're getting you getting 5,000 you're getting On the bid you're getting we bring this down. You're getting 2300s. You're getting some You know, you're getting some pretty decent orders. You're not gonna see a lot of these orders in here Right here on the on the bid and ask you'll notice that they're you know, 1,000 shares 500 and it's changing pretty rapidly 1,000 just came in you're not seeing that on the book viewers So the book viewer not only is a little bit more delayed because you got a browser base And you could see when you're dealing with more of a professional platform You're getting the data a lot quicker, but you're seeing a lot more orders out there. Now. Here's another stock Us day traders also we're having a lot of fun trading and There was a stock NH this one ran. Well, this actually, you know what a little on the cheaper side I don't want to show you something too cheap That was moving but this one was actually a little bit easier to trade LX LXRX now if you notice this one right here, you got orders you got 2000 you got 4000 and let me just put it on the book on the book viewer LXRX is typing it in over here and You could see that when you're looking at these orders The thousand to 700 you're not seeing them up on the top of the best bid and best ask So really kind of just you know wondering what is this going up? Is it going down? Well first of all It's right smack of the mill today So really there's not much going on but this stock if you see it it really had a really big run It ran from 560 to about 680 think about you bought a thousand shares of that stock You know do that every day you make up, you know on the average more than a buck a day There's a quarter million dollar salary. That's why people love day trading But why did the stock is stopping? How do stocks hit resistance levels? Well, the big thing is looking at these iceberg orders out there looking for bigger blocks Like here's a 5000 share seller. You could see here at 702, you know Why why would it stop at 702? You know, why is there a big order out there? And if you look over here, you see how you have a double top right there on the intraday that That resistance levels right there why I had a tough time breaking it because it was getting close to that big seller out there That's at 707 remember how do stocks go up and down? Supply and demand so once again, let's just get back to the book viewer and and and the the matrix The big difference is that when you're trading, you know, and you and you want to know what's going up What's going down? You have to follow the money. You got to know where the buyers are you have to know where the sellers are you got to know where they are and the only thing I could do that is level 3 and Because the book viewer is a very popular item and you know and some of you might have a platform that might not offer That's why it's so important to always do your homework on a brokerage firm There are a lot of good brokerage firms out there But they don't always give you the right tools depending on what kind of trade you are but as a day trader, you know, we do use the book viewer a lot because We deal with people all over the world and not everyone can have the luxury of having a certain platform maybe due to Marginal requirements, maybe you record maybe because they have this brokerage for certain brokerage firms are not in their area I know we have people have issues up in Singapore and and Australia Canada, you know, you asked you pretty much limit it You know, you basically unlimited but also gotta be careful because a lot of them don't always give you the tool so what I recommend you to do is if your brokerage firm doesn't have the Level 3 version and aggregated version. We can have multiple ECNs. That's okay. You go to the Aztec book viewer You can use it temporarily It works perfectly fine You're just not gonna see every single order out there, but you're gonna get a lot you're gonna get a lot So so hopefully you enjoyed this video Hopefully you started it from part one and worked your way up to part two and part three and Get a little bit more about it And if you want to know more about if you if you want to know more about seeing real live big Monster iceberg orders. I'm talking about monsters. I'm talking about 50,000 hundred thousand share orders Just click on the bottom like us register for one of our events We do an event see every week and I'll be happy to show you because you know what ladies and gentlemen fellow YouTubers and and and traders and online traders I just we don't you know, there's no reason why you should lose money in the market You just got to know how to play the game and that's why I enjoy teaching people because you know I do events all over and I see people getting in positions and they had they spent all this money on software and and Then and they just blow up their accounts You know if you knew the first time how to do it you wouldn't have that issue and the biggest thing is You just got to follow the money and only you can follow the money is using level three. So ladies and gentlemen Thanks for watching this video Clicked on the bottom like us and we'll have more videos like this We're all start teaching you how to read charts keeping it simple See more iceberg orders how to use something called time in sales and all that good stuff. Thanks everyone