Name: 如何閱讀第 2 級時間與銷售、錄音帶閱讀 - 日間交易初學者 2024 (How to Read Level 2 Time and Sales, Tape Reading - Day Trading for Beginners 2024)
Uploaded: 2024-06-29T07:07:31.000Z
Duration: 17 min 48 s

情態助動詞 A2

There are some traders who swear by it religiously and cannot trade without them.

有些交易者對它信誓旦旦，沒有它就無法進行交易。

頻率副詞

And there are also traders who think level 2 is full of fluff, and therefore they never use it.

還有一些商人認為第 2 級充滿了花哨，是以他們從不使用它。

I'm not here to tell you whether you should or should not be using level 2 and a tape as part of your trading.

我不是來告訴你是否應該在交易中使用第 2 級和錄音帶。

But what I will do today is break down what level 2 and time and sales are, how to read it, and what exactly you should be looking for in there.

但是，我今天要做的是分析什麼是第 2 級、時間和銷售額，如何閱讀它，以及你應該在其中尋找什麼。

After watching this video, you'll be able to decide for yourself whether you should be incorporating reading level 2 and a tape into your own trading style.

看完這段視頻後，你就能自己決定是否應該將閱讀二級和錄音帶納入自己的交易風格。

This was a highly requested video by you guys, my loyal followers here on YouTube.

這是我在 YouTube 上的忠實粉絲--你們強烈要求製作的視頻。

So a lot of time, recording and research went into this.

是以，我們投入了大量的時間、錄音和研究。

If you wouldn't mind, I'd really appreciate it if you could drop a like on the video.

如果您不介意，請在視頻上點個贊，我將不勝感激。

好吧，讓我們先從最基本的開始。

This is a recording of my execution platform DAS trader.

這是我的執行平臺 DAS 交易員的錄音。

Over here is the stock chart, intraday chart for one minute.

這裡是股票圖表，一分鐘的盤中圖表。

This is the window where you see all the colorful blocks.

在這個窗口，你可以看到所有五顏六色的積木。

This is the montage window, also known as level 2.

這是蒙太奇窗口，也稱為第 2 層。

And on the right side where you see the numbers, the white, the green, the red.

右邊是數字、白色、綠色和紅色。

This is time and sales, also known as the tape.

這就是時間和銷售，也被稱為膠帶。

Level 2, over here, the left column is basically the buyers.

第 2 層，在這裡，左欄基本上是買家。

The pending orders waiting to buy or cover the stock at a particular price.

等待以特定價格買入或賣出股票的掛單。

The right hand column, these are the asks or offers.

So these are orders waiting to get filled to either sell the stock or short sell the stock.

是以，這些都是等待成交的訂單，要麼賣出股票，要麼賣空股票。

So basically just remember left hand side are the bids, the buyers, the asks, or the offers of the sellers.

是以，基本上只需記住左手邊是出價、買方、要價或賣方的出價。

These are abbreviations for the exchanges.

These are different exchange routes that the orders are coming from.

And the price, you can see $3.91, $3.90, $3.89.

價格方面，你可以看到 3.91 美元、3.90 美元和 3.89 美元。

So these are the orders waiting to get filled to buy the stock.

是以，這些都是等待成交的訂單，用來購買股票。

So these are the buyers waiting to buy the stock at $3.91.

是以，這些都是等待以 3.91 美元買入股票的買家。

還有 3.91 美元、3.90 美元、3.89 美元和 3.88 美元。

These are the orders pending to sell the stock at $3.93, $3.94, $3.95.

這些是以 3.93 美元、3.94 美元和 3.95 美元賣出股票的掛單。

And these numbers, the single digit numbers, these are the size of those orders.

這些數字，個位數，就是這些訂單的規模。

So the 4 stands for this buyer wants to buy 400 shares. 2, 200, 0 is an odd lot.

是以，4 代表這位買家想買 400 股。2、200、0 是奇數。

So that would be an order size less than 100.

是以，訂單數量將少於 100 個。

And 102, this is a pretty big order right?

102, so that means the seller is trying to buy 10,000 shares.

102，也就是說，賣家想買 10 000 股。

如果加上 2，0，是的，我加了。

And the same for the sellers. 26, so that's a sell order for 2,600 shares.

賣方也是一樣。26，這是一份 2600 股的賣單。

它們都是按照這個順序排列的。

And as for the colors, you see these really pretty colors, the yellow, the green, the blue.

至於顏色，你會看到這些非常漂亮的顏色，黃色、綠色、藍色。

But they are actually really useful when you want to see if the buyers or sellers are stacked.

但實際上，當你想了解買家或賣家是否扎堆時，它們確實非常有用。

And it helps a lot to group them together when you are trying to read it on the fly, really fast, in real time.

當你想快速、實時地閱讀時，把它們組合在一起會有很大幫助。

稍後我們將進一步討論這個問題。

If I place an order, if I want to buy the stock at $3.89, let's say I want to buy 1000 shares.

如果我下單，想以 3.89 美元的價格買入股票，假設我想買入 1000 股。

If I click the buy button right now, this is recording so I can't buy.

如果我現在點擊購買按鈕，就會出現錄音，這樣我就不能購買了。

If I click this right now, my order is going to show up with the ARCA exchange.

如果我現在點擊這個，我的訂單就會顯示在 ARCA 交易所。

You'll see me showing up on level 2, pending order, $3.89.

你會看到我出現在第 2 層，掛單，3.89 美元。

If I want to buy 1000 shares, you'll see 10 over here.

如果我想買 1000 股，你會看到這裡有 10 股。

If I want to sell 1000 shares at ARCA, then you'll see my number added up to this ARCA exchange right here.

如果我想在 ARCA 賣出 1000 股，那麼你會看到我的數字加到了這個 ARCA 交易所。

Keep in mind, all the orders on level 2 are pending orders that haven't been filled yet.

請記住，第 2 層的所有訂單都是尚未執行的掛單。

And if my orders are pending, once they get filled, you'll see them on the tape, the time and sales.

如果我的訂單還未完成，一旦完成，你就會在錄音帶上看到訂單、時間和銷售額。

So these are the actual transactions that has been filled and gone through in real time.

是以，這些都是實時填寫和通過的實際交易。

Ok so let's talk about time and sales or the tape right now.

好吧，我們現在就來談談時間和銷售，或者說談談錄像帶。

So these are like we talked about, once an order gets executed on level 2, then they show up on the tape.

是以，這些就像我們說過的，一旦訂單在第 2 層被執行，它們就會顯示在錄音帶上。

So you see $3.88, that means the order got filled on the bid side.

是以，您看到 3.88 美元，這意味著訂單在買方成交。

And you see quantity, these are the actual number of shares that's being traded.

你看到的數量，就是正在交易的股票的實際數量。

So you can see at this exchange, they traded, somebody do the math really quick, 1015 shares on the bid side.

所以你可以看到，在這個交易所裡，他們進行了交易，誰來算一算，買方出價 1015 股。

And the greens are basically the orders that got filled on the asks.

綠色的基本上是在要求中得到滿足的訂單。

So somebody bought and sold on the ask $3.89 for 200 shares on ARCA.

是以，有人在 ARCA 上以要價 3.89 美元買入並賣出了 200 股。

So these are the orders that's been filled.

So you have the price, the quantity which is the actual share size, and the exchange.

這樣就有了價格、數量（即實際份額大小）和交易所。

You also have the option of adding in the time, to see what time the orders got executed at.

您還可以選擇添加時間，查看訂單是在什麼時間執行的。

But for me, I had that hidden because I don't want to see too much information.

但對我來說，我把它隱藏起來了，因為我不想看到太多資訊。

This is all I need, the price, the quantity, and the exchange.

這就是我所需要的，價格、數量和交換。

And for me when I'm trading, I care more about the tape rather than level 2.

對我來說，在交易時，我更關心的是盤面，而不是二級市場。

Because I want to see the actual orders being filled.

因為我想看到實際訂單的成交情況。

And whether they are being filled on the bid side or the ask.

以及它們是在出價方還是在要價方成交。

Because these are the actual transactions that's gone through in real time.

因為這些都是實時進行的實際交易。

The stuff you see, all the numbers and orders from different routes on level 2 that you see, they are just pending orders waiting to get filled.

你在第 2 層看到的所有數字和來自不同路線的訂單，都是等待執行的訂單。

A lot of times, especially when you're trading large caps, you see a lot of algos and HFT high frequency trading on level 2.

很多時候，尤其是當你交易大市值股票時，你會看到很多算法和 HFT 高頻交易在二級市場上進行。

Anyone can cancel their order that's on level 2 and pull their order anytime.

任何人都可以取消處於第 2 層的訂單，並隨時撤消訂單。

And that's why you see a lot of orders come in and disappear really fast.

這就是為什麼很多訂單來得快去得也快。

Whether they are real or whether they are just there to spoof the sellers or buyers, we don't know.

至於他們是真的還是為了欺騙賣家或買家，我們不得而知。

And on top of that, it's very easy to hide your size on level 2.

此外，在第 2 層隱藏自己的體型也非常容易。

So maybe I'm trying to sell 10,000 shares, but I can have the order pending on level 2 just as 100 shares.

是以，也許我想賣出 10,000 股，但我可以在第 2 層掛單 100 股。

So that's why you see a lot of fake numbers on level 2, and white people say there's a lot of fluff on level 2.

這就是為什麼你會在第 2 層看到很多假數字，白人說第 2 層有很多花哨的東西。

So I also want to talk about adding and removing liquidity.

是以，我還想談談增加和減少流動性的問題。

So if I'm trying to buy the stock UAVS, there's two ways for me to get filled.

是以，如果我想購買 UAVS 這支股票，有兩種方法可以讓我買到。

I can either sit on the bid on the left hand side and wait to get filled at $389 or $388 and under.

我可以在左手邊出價，等待 389 美元或 388 美元及以下的價格成交。

Because I have to wait for somebody to hit my shares.

因為我得等著有人來打我的股票。

Or the other way is I can hit the ask and get filled right away at $390.

另一種方法是，我可以在 390 美元的價位上提出要價並立即成交。

Because I'm trying to get filled right away.

I'm removing the shares available in the market.

And generally speaking when you are removing liquidity, it's more expensive and there's more fees.

一般來說，如果要取消流動性，成本會更高，費用也會更多。

Unless you're using one of those flat rate brokers like Fidelity or thinkorswim used to be like that.

除非你使用的是像 Fidelity 或 thinkorswim 以前那樣的統一費率經紀人。

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如何閱讀第 2 級時間與銷售、錄音帶閱讀 - 日間交易初學者 2024 (How to Read Level 2 Time and Sales, Tape Reading - Day Trading for Beginners 2024)

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