L2

stock777

stock777

Anyone that says, and there are many, that L2 doesn't mean anything, is a doofus.

Like saying Sanscrit doesn't mean anything just cause u cant read it
 
L2 matters for sclaping, illiquid instruments, or afterhours.. but I would argue that the order book for very liquid stocks/futures/options/whatever.. mean shit, if the market is going to move.. it doesnt matter what the bids/offers sitting outside the money are.

if you are an investor or swing trading.. do you really think you can find a better entry by looking at the book? and does it matter? i still have it on my workstation, but i dont trade based on it.

look at SPY/ES today.. what would L2 tell you right before the first leg down?
upload_2014-8-15_18-37-43.png
 
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