Thanks...but I "recovered" only from an angio that concluded that I must go in for open heart surgery in a few days, to replace a bad aortic valve....I will know more after meeting with the surgeon on Monday. Thanks again!!
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
level 2 OPINIONS please
- Thread starter marketsurfer
- Start date
Thanks...but I "recovered" only from an angio that concluded that I must go in for open heart surgery in a few days, to replace a bad aortic valve....I will know more after meeting with the surgeon on Monday. Thanks again!!
Originally posted by Zed
I have traded profitably for 2 years scalping stocks using just L2.
Since the implementation of decimalization and supersoes, L2 has become an unreliable indicator. It acts more like a "slip n slide". If anybody can "truly read" L2 since supersoes, I would like to hear their comments. It was a sad day for the scalp traders.
:eek:
Zed-
I couldn't agree with you more. I consider myself a pretty intelligent guy. However, if there is a trader out there that can honestly say that when trading, lets say CSCO he/she consistently and more importantly, profitably uses LVL II for the majority of their decision making when putting on a trade . . .I'd say to them PROVE it. I couldn't have said it better "Slip n Slide" is the perfect analogy. In terms of helping time the entry or exit of a trade I find it to be only marginally useful. You might save yourself a .01-.03 taking note of the LVLII at the time you place the trade. Beyond that you are much better off taking note of T&S- price and size along with 1-min & 5-min chart.
-momo
Level 2 is very useful!
I use Level 2 mainly for trading decisions on NAS stocks. There are a number of things you can do that work. Take advantage of the fact that that ECNs allow you to show and hide size, which makes for a poker game no doubt, but I'll take it over the NYSE specialists any day!
You want numbers? ok. I make about 600-1000$ day from my Nasdaq trading (I have other strategies I employ in other markets as well), so I think traders much better than me must be cleaning up!
I use Level 2 mainly for trading decisions on NAS stocks. There are a number of things you can do that work. Take advantage of the fact that that ECNs allow you to show and hide size, which makes for a poker game no doubt, but I'll take it over the NYSE specialists any day!
You want numbers? ok. I make about 600-1000$ day from my Nasdaq trading (I have other strategies I employ in other markets as well), so I think traders much better than me must be cleaning up!
the thing with L2 is that its a short-term tool. For a swing trader,who cares if you get that 2cents. For others, like me, i certainly care. I'm good at reading L2 and the charts, and when combined i do very well. To each his own. But to say it's completely useless is incorrect. Like all information, understanding what's important and what isn't is the key to the game.
cheers
cheers