 Hello everybody, this is me again, Falstow from Cybertrainversity. We just got a very big, big request regarding about the NASDAQ TotalView, and you've probably seen the first video, it actually was, it's actually been a very popular video, didn't know it was gonna be as popular, and basically came out with one part of it, and now I want to come out with the second part of it. I want to explain to you the importance of the book viewer. Now, for some of you probably don't know what the book viewer is, it's basically, I kind of call it my version of a level 3 of trading, and in the book viewer, you're going to notice that there is some very important features on it that's going to help you, you know, kind of follow the money, because that's how trading works. Now, I'm a day trader, and day trader is what we look at, and remember I've been doing this for 25 years, we all look at following the money, finding where the dominated market makers and everything else, and what happened over the years, a lot of ECNs, which is what a book viewer is, it's stands for electronic communication network. Basically, it's where everyone can put their orders, you can put your orders out there. So I kind of went over a little bit of an introductory version of it in the first video, and it's been over, you know, I think over a year now, maybe more, that people kept requesting. Where's the second one? So I want to do a second one, want to go over it and show you a little bit more about it, a little more detail on it. So basically, if you notice here, this is actually the home page of NASDAQ's website, and you can see there you have all the features right here on the left-hand side. Now, I'm just going to go ahead and log in, okay, and you can see right here, he has a little bit of a description, exactly if you want to read more about it, what exactly it is, and all I could tell you is this guy is that the book viewer is, you know, the exchange, these ECNs make up close to almost 70% of the volume. Now, I know everyone is looking for free stuff, and I'll be honest with you guys, you can't be trading on free stuff. Free stuff is, the reason why it's free, because that's all it's worth. Now, the NASDAQ book viewer for non-professional, it's cheap, it's like $15 a month, and you know, and by the way, I'm not getting promoted by NASDAQ, I'm nothing to do with NASDAQ, but I'm just here to try to tell you where to find level three, because that's one of the biggest things we teach at Cybertry University. So you can actually go to NASDAQ's website, buy it, $15, a non-professional. Professional means that if you're like a stockbroker, you know, if you're a professional, you know, and they have a full explanation of it, but when you go there and you download, what's going to happen is, actually, let me click over here on book viewer, and just want to do step-by-step and show you what's going to happen. So what's going to happen is, where'd it go? There we go. Let me just log out and log back in again. All right, we click launch over here on the bottom right-hand corner. You see it right here. We're going to click launch, and what that's going to do, it's going to open up a browser, okay? It's a totally separate window. Now, I'm going to exit out of this because we don't want to get distracted, and basically right here, you're looking at the NASDAQ book viewer. So I want to just tell you how you're supposed to customize it, because let me just show you what happens. If you click over here, let me expand it. I don't like that. Okay. Let me bring it over here, and if you click on select columns, if I put all, if I check all these boxes, you're going to notice it's going to pick up all these windows. I mean, like all this stuff, it's going to tell you the time, the market maker, the market value, the total, the shares, but this is all just overkill, and this is why a lot of people get confused when they look at trading, and that's why a lot of people use charts because they look at these numbers, and they're like, what the hell is all this stuff? So what I'm going to do is I'm going to click over here. I'm going to show you how I customize it. First of all, I don't care about what time was the last time there was a new post put on the book viewer. I really don't care about the NASDAQ because it's all NASDAQ, you know, so I'm going to uncheck that one. Market value of buys and sells, that doesn't really is important to me, and I think that's about it. Let me just, I think I got everything. Let me click apply. Okay, so now you got three columns, which is realistically what you need. Now, what you're seeing right here is that you're seeing, you're seeing the levels right here. You're seeing like these, as of right now, like looking, we're looking at NASDAQ. Let me look at something a little bit slower for you. Let me be JD. You know, stock JD. Okay, so in the stock JD, right now, it's trading at 29.07. And if you look over here on the left, these are the buyers and these are the sellers. I mean, you look over here on the left-hand side, this is real-time data, by the way. This is exactly what's happening on the market right now. And you could see that they're about roughly, I don't know, one, two, three, four, five, six people that are looking to buy it at 29.08, and you can see it's changing. There's several people here buying it at 29.07, probably like 15 people. And these are the basically, this is what you have as in the amount of shares that look gonna be bought and the bid. Now, what I do is this. I really don't care how many people are bidding for it, you know, how many people are making up that are trying to buy it at that price. So if I go out there, I will go out there. So I'm gonna uncheck this box right here. And what I'm doing is I'm aggregating the orders. What that's doing is it's taking all 10 orders. By the way, let me just check out totals because I really don't care, total buys and total sells. It's really the three ones right there. Here we go. Click OK. Click on Com. All right. So basically what I care about, I don't care about the 13 buyers out there looking to buy it at 28.08, which is if I unaggregate that again, that's what it looks like. OK, because what happens, I lose the depth underneath it. And it's not how many orders that make the stock go up and go down. It's the amount of shares. Remember, one thing is very important. How stocks go up and go down is supply and demand. So right here, you have a lot of supply and demand. And then what we're looking for is on the shares. And that is what makes makes a support and resistance levels. So one thing that I came up with a word, I kind of invented this word about like almost like 20 years ago, watching a show called a movie, I'm sorry, called the Titanic, had the Titanic sink, the most unsinkable ship, it got sunk by a iceberg. So I came out with this word icebergs. And what I teach here with my traders is we try to find these iceberg orders and these iceberg orders are what we're looking at over here on the book viewer. We're looking for those big block orders. Because remember, when you look at a chart, which I'm going to make another video, it's going to come up next right after this. And when you look at a chart, you want to see where we're basically looking for support and resistance levels. What really makes support and resistance levels buyers and sellers? So when you look at here on TotalView, you're noticing, like, for example, sellers, you got 3,000 shares, 3,000, 2,700, 1,700, made up 12 orders, 12 different people out there. So, you know, but that isn't really, you know, it's a lot of shares, but you know, really is a lot of shares. The nine different orders out there of the person that's trying to sell 16,000 shares at $29.19, or the guy that's looking to sell this 34 orders of 20,000 shares at $29.50, or how about this one? The two really big orders are down here, $29.29 and $29.30, 13,000 shares and 62 different orders out there making 42. That, ladies and gentlemen, is what you call a iceberg order. Now, once again, how do stocks go up and go down? Supply and demand. So what do we look at on TotalView? We look at on the book viewer, we're looking for big, big iceberg orders. We're looking for, you know, things that are going to prevent the stock from going to higher or things that are going to help support it from not going any lower. So there is your basic explanation of what is the book viewer, what we're seeing. Now, if you want to subscribe to me, go down to the bottom, click Subscribe. I'll send you another alert on this because I'm going to get in more detail about the book viewer and I'm going to compare it with other platforms specifically like the TradeStation platform, which has a better book viewer, which is more of an in-depth level three. And I'm going to show you how to apply it towards a chart and see how these big iceberg orders are, how they affect the actual chart itself. All right, so once again, if you enjoyed this video, click that you like it, share with your friends and look for the next one that's coming up. Thanks, everyone.