Shared by
metp2202
Tags:
No news, SPRT was gapping up this morning, the open was weak and we failed twice to reclaim VWAP, once we dropped below 8 I got involve at 7.95 with 3k shares, I took it off at 8 because it did a hammer candle, felt like it wasn't weak but then there was a big offer soaking at 8 and hiding size so I got back in at 7.93 with 3 k shares. Covered most of my position around 7.45 ish. Good trade, could have been slightly bigger with size, I think 6k would have been fine, not sure if I would have been able to fill though because of SSR.
Execution detail:
| Date/time | Symbol | Qty | Price | Position |
|---|---|---|---|---|
| 2021-07-28 09:58:14 | SPRT | -1500 | $7.950 | -1500 |
| 2021-07-28 09:58:14 | SPRT | -1500 | $7.951 | -3000 |
| 2021-07-28 09:59:00 | SPRT | 1500 | $8.000 | -1500 |
| 2021-07-28 09:59:00 | SPRT | 1500 | $7.999 | 0 |
| 2021-07-28 09:59:43 | SPRT | -1500 | $7.930 | -1500 |
| 2021-07-28 09:59:44 | SPRT | -1500 | $7.931 | -3000 |
| 2021-07-28 10:01:06 | SPRT | 185 | $7.690 | -2815 |
| 2021-07-28 10:01:07 | SPRT | 15 | $7.690 | -2800 |
| 2021-07-28 10:01:13 | SPRT | 200 | $7.720 | -2600 |
| 2021-07-28 10:03:21 | SPRT | 200 | $7.550 | -2400 |
| 2021-07-28 10:03:30 | SPRT | 200 | $7.480 | -2200 |
| 2021-07-28 10:03:43 | SPRT | 200 | $7.480 | -2000 |
| 2021-07-28 10:04:36 | SPRT | 200 | $7.390 | -1800 |
| 2021-07-28 10:04:43 | SPRT | 67 | $7.420 | -1733 |
| 2021-07-28 10:04:43 | SPRT | 100 | $7.420 | -1633 |
| 2021-07-28 10:04:43 | SPRT | 33 | $7.420 | -1600 |
| 2021-07-28 10:04:52 | SPRT | 200 | $7.430 | -1400 |
| 2021-07-28 10:04:56 | SPRT | 200 | $7.435 | -1200 |
| 2021-07-28 10:04:56 | SPRT | 200 | $7.435 | -1000 |
| 2021-07-28 10:04:58 | SPRT | 200 | $7.430 | -800 |
| 2021-07-28 10:05:06 | SPRT | 200 | $7.449 | -600 |
| 2021-07-28 10:05:06 | SPRT | 100 | $7.450 | -500 |
| 2021-07-28 10:05:06 | SPRT | 100 | $7.450 | -400 |
| 2021-07-28 10:05:07 | SPRT | 200 | $7.449 | -200 |
| 2021-07-28 10:05:07 | SPRT | 100 | $7.450 | -100 |
| 2021-07-28 10:05:07 | SPRT | 100 | $7.450 | 0 |
| 2021-07-28 10:53:32 | SPRT | -13 | $7.610 | -13 |
| 2021-07-28 10:53:59 | SPRT | 13 | $7.595 | 0 |
Comments
metp2202
Yo chris. First year trading full time, traded for about 3-4 in total I would say. the lvl 2 on TOS is really bad IMO. I use a regular level 2 and time and sell on sterling. Basically there was an offer sitting on the ask at 8 showing relatively low size (I think it was showing 1k). But when you look at the time and sell, it was printing 10k blocks (green prints going quite fast) at 8. The offer didn't lift and then we went lower and it was my signal to get involve. Honestly all you need is screen time to recognize those little details, it takes a lot of time.
ChrisC
Thanks brother. Starting recording my screen which has been helpful to go back and re-watch the level 2 and tape in those key areas, but TOS level 2 and time and sales leaves a lot to be desired even when I have it paused or watching in slow mo lol.
100%, if you can afford DAS demo platform I think that this is your best option for good lvl2 and time and sell. If I remember it's 120 per month for the platform and real time data... It's definitely worth it IMO if reading tape is a big part of your system/ strategy.
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When you saw the hidden seller soaking at $8, what level 2/time and sales do you use? How long have you been trading? I have trouble spotting things like that on Thinkorswimswim level 2. Need more screen time.