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Level 2 reading
- Thread starter stylelad
- Start date
Don't waste your time.
Hybrid has made tape reading far less useful, and the L2 window is full of lies.
Hybrid has made tape reading far less useful, and the L2 window is full of lies.
ok, but what is hybrid? I'm an emini trader and I haven't heard of hybrid. Is that for stock trading?
Quote from stylelad:
as i saw for example we sometimes should trust to specialist book only cause often the specialist adds his own lots to manipulate the price...
It is not just the specialist. All the Nasdaq marketmakers engage in extensive tape painting. All those shares and trades that you see going off in T&S is a crapshoot. The same bastards buying and selling their own stock. Also ECNs are not as anonymous as people think they are. These pricks can identify retail orders vs institutional and squeeze the s--t out of a gullible retail trader.
The SEC does nothing and is probably ingesting some serious moolah from these well-heeled a$$holes aka goldman, morgan stanley etc
Quote from 88888accountant:
Don't waste your time.
Hybrid has made tape reading far less useful, and the L2 window is full of lies.
TAS still shows all the deals on the stock even if they were made on the floor of exchange still EVERY deal has to be printed out in TAS. so we cant see the orders of big players but we see their execution in tape. Agree that L2 is pretty tricky but still we can get lot of info from it...
before started trading i've signed the papers in which i claimed myself not to buy and sell 1 stock on 1 price in the same time. its called wash trading and strictly prohibited.Quote from ak15:
The same bastards buying and selling their own stock.
also manipulation of the stock price is strictly prohibited so how can all those "a$$holes" do that? its SEC's main purpose to struggle that...
i've found level 2 to be more honest (in naz stocks) on stocks which aren't popular. that doesn't mean there aren't hidden orders, buf if there's size displayed, it's more often honest.
by the same token - there's a bunch of naz stocks where someone has an auto-sell / auto-buy through ARCA like 10c/15c outside of NBBO. so, the only way to hit/lift them is to direct-route it to ARCA, and pay the extra price to get in/out.
by the same token - there's a bunch of naz stocks where someone has an auto-sell / auto-buy through ARCA like 10c/15c outside of NBBO. so, the only way to hit/lift them is to direct-route it to ARCA, and pay the extra price to get in/out.
Quote from style:
before started trading i've signed the papers in which i claimed myself not to buy and sell 1 stock on 1 price in the same time. its called wash trading and strictly prohibited.
also manipulation of the stock price is strictly prohibited so how can all those "a$$holes" do that? its SEC's main purpose to struggle that... [/QUOte
All these rules don't apply to MarketMakers. They can pretty much do what they want. They are not supposed to buy and sell pre-market and afterhours but they do. They can and do buy and sell stock from their own inventory to manipulate the price. There is nobody policing their activities or keeping detailed records of all their trades. Why do you think Brokerages like Goldman, Morgan stanley make huge trading profits quarter after quarter. The SEC turns a blind eye to their activities. Also they don't have the means and infrastructure to monitor the activities of these a$$holes. If you can come up with some data that shows how the SEC monitors their activities on a day to day basis, let me know. I'll be really interested.