Lesson Of The Day: Using Time/Sales Window
All trading platform have a Time & Sales Window. MOJO preferred T&S Window looks like this:
The Time & Sales window are the actual trades that were made in that particular stock.It has the price listed on the left. It's in green, white and red. The white color is stock priced between the buy and the ask. These are called “Dark Pools” – to be discussed another time.If the color is red, those are shares being sold at that price. It also means that the price is at the bid or in between the Bid and Ask and represent SELLS. If you see a lot of red, there is a downward trend action on that stock.The opposite is true if the color is green. These are the BUYS and they can be at the ASK or in between the BID and ASK.You will also want to pay attention to the volume size. This will tell you if there is lots of buying happening and will help predict the immediate direction of the stock price.
Remember, although you can see how bids and offers are stacked up on the Level 2 (Image Below) it is ONLY the Time & Sales window that shows the actual prices and volumes that traders were willing to buy and sell. When you place the Time & Sales window beside your Level 2 Montage, you can get a good feel for the momentum of the stock and the actual prices and volumes that people are putting into a stock to make your most informed trade.
This is all taught to MOJO Traders in MOJO University – the World’s Best Business Based Stock Trading System. For information on the next class – click here