Introduce Yourself

This is a discussion on Introduce Yourself within the First Steps forums, part of the Reception category; Hello all T2W folks, just registered today. Its been a busy day - I also started to receive Level II ...

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Old Feb 28, 2002, 8:08pm   #25
Joined Feb 2002
Hello all T2W folks, just registered today.

Its been a busy day - I also started to receive Level II data this pm. I understand the basic principles but would anyone with more experience like to say how they ae using it? (successfully I mean, of course)

Me - Been buying shares about 3 years after short unsuccessful and costly period of traded options (never to be repeated, believe me). Short-term trading only in last few months as a way of getting something out of a falling market - ARM and Barclays traded regularly - also trade shares on TA buy signals and results announcements but usually stick to FTSE350 stuff to cut spreads and reduce risk to bad news.

Anyway, enough woffle.

Hope to speak with more traders soon.

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Thanks! The following members like this post: wasp
Old Feb 28, 2002, 9:14pm   #26
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Joined Nov 2000
Get into the chat room and talk to GOLD about L2. I think there is also a lecture planned for L2, but have no details at this time.
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Old Feb 28, 2002, 10:46pm   #27
Joined Nov 2000
Hi tomorton, welcome...

Effectively using L2 in one's favour requires both basic knowledge of the order book and the way orders work and handled, as well as experience...

You can get the basic knowledge on the following link:

Then as ChartMan says you can discuss certain issues in the chatrooms or post spesific questions here...hope this helps

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Old Mar 2, 2002, 10:08pm   #28
Joined Feb 2002
Thanks Riz and Chartman

Will do as you say, looking at the ADVFN source first, then probably a bit of studying the L2 moves when market re-opens next week.

Have a nice weekend.
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Old Mar 10, 2002, 3:12pm   #29
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Joined Mar 2002
Hi Folks, another new member. Searching for the holy grail like everyone else, knowing it's unattainable, determined to find a reliable low risk (and high return obviously (Ha!)) method of non-directional trading, having had disastrous failures with judging direction in the past with commodities. Recently had a splendid run fixed-odds betting with on "double-no-touch" figures for FTSE 100, then they dicscovered they'd cocked up the odds, so now its not worth the risk. Looking for something as easy as that again. Any ideas welcome.
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Old Mar 16, 2002, 3:36pm   #30
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Joined Mar 2002
Hi all. Registered today and looking forward to finding what's where in the coming weeks.

Like Tomorton I have access to L2 data (at advfn) but need to get better at interpreting what it shows - including the placing and pulling of real/fake/disguised orders on SETS, and the tactical antics of MMs on SEAQ stocks.

I make my living from investing/trading/spreadbetting UK shares. Been doing so for over 4 years since quitting the day job. Not easy, but surviving. I mostly avoid highly liquid FTSE100 stocks, preferring mid-range ones so I get time to think between each price change! Tend to avoid mining/oil/exploration stocks - just not comfortable with those. Cantor's recent introduction of weekly bets on shares (much tighter spreads than quarterlies) has made intraday bets viable. I typically have holdings in 10-15 stocks and bets running on 10-20.

I'm focussing on improving my performance within the areas I already deal (a Zulu Principle approach, if you like), rather than widening my activities beyond UK shares. I would rather become good at one or two things than average at everything. So I'm not likely to get involved in non-UK stuff or in sophisticated derivatives. I use charts a lot but still have lots to learn there. I also need to get a sounder grip on risk/reward ratio calcs to help avoid taking on trades I shouldn't have!
Don't fight the market..... milk it.
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Old Jan 1, 2003, 5:40pm   #31
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Joined Jan 2003
Just joined 31/12/2002

I'm starting from absolute scratch, no knowledge whatsoever. (Maybe a good thing, mind uncluttered by pre-concieved ideas!). I've done so much reading today, my brain has turned to soup, there's so much to learn! It's all very exciting though, I'll take it a step at a time. I currently make a good living selling on Ebay, but I'm always reliant on finding stock, so share trading etc to me seems a logical step up.
I'm looking forward to learning something new, with the idea that in the future, it will become my main income generator.

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Old Jan 1, 2003, 6:45pm   #32
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Joined Mar 2001
Hi Andrea

Welcome, I'm sure you will enjoy and learn so much from t2w.

Good luck
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