Hey UKXâ¦
I was the originator of this thread and had subscribed to esignalâs CME and CBOT market depth (w/ level II) for awhile (although I have since unsubscribed to it) and found it pretty useful (and more helpful than your garden variety market depth), so I would imagine it would be helpful to LIFFE or Eurex as well.
However, since the time I had subscribed to it, I started using marketdelta which is software I found on the web. Apparently, it was written by traders who at one time traded in the pit at the CME (this is what the website says at least). Anyway, since I have started using it, I have found that it is CONSIDERABLY more helpful than market depth (both the garden variety market depth and esignalâs). It not only shows market depth, but it also shows completed trades at both the bid and the ask (each of them separately, like reading T & S). But unlike T&S, it shows these trades in relation to the price movement in real time. I have used it for almost 2 months now and every day it becomes more indispensable to my trading. Initially, I used it as I had tried to use market depth (and T&S) in the past, i.e. for confirming entries/exits, etc., but now I use it more for the entire life of my trade and sometimes I find myself watching it before I look to my system to see if a setup is starting (in other words, I am sometimes looking at my system to confirm what I see in marketdelta!). It is really a neat piece of software. On the downside though, it can sometimes be sluggish and can only display one symbol at a time, which I feel greatly limits its potential. I emailed their tech support about this a few weeks ago and they said they were going to be releasing a new/improved version very soon which will be rebuilt from the ground up so it will be considerably quicker and will also be able to show multiple symbols at one time (although I donât know how many that will be). Back in Feb, after about a week of using it I was so impressed that I actually wrote a review here at ET (my first!) (
http://www.elitetrader.com/so/?action=view&SR_ProductID=97), so if you want to see that, it may give you more informationâ¦
Oh...and another thing. As you can probably tell from my first post in this thread, I had a lot of confusion around the dynamics of buyer and seller, supply and demand, etc. But since this software shows all of these things in such a straightforward manner, I understand this process much much better (I also say this in my review). I practically laugh at my ignorance when I read my first post to this thread now.
Parker
