Recent content by razorgirl

FTSE Beater, I was interested in what you said about exits when a trend is too steep. When I'm day trading equities I use a trailing stop based on the 5 minute chart, but when the trend goes vertical I use Level 2 to time my exit. With practice it's possible to spot when the move is running...

Finally dumped ADVFN (takes 30 days to go through however), after further Level 2 errors. Apparently they do not have any verification systems for their feed from the LSE. So when a blip in the feed happens (as it did at 15.19 yesterday afternoon), changes to the order book during that blip...

It now seems that the new Level 2 service will be launched in mid January, although I don't yet have any pricing information for it. As Mr. Charts says, very reputable people, so I await it with interest.

Gosh, underselling themselves then - their website says you can only have 3 Level 2 windows active at once.

Yes, 8.30 is a lovely time for putting a trade on in the opposite direction when the opening price has overshot

4500 would have been the target had a sustained break of 4200 taken place (with a close above).

Agreed - but trouble is, the ADVFN interface, when it works, is very user friendly and allows me to tile four Level 2 windows. It also shows all the orders on the book - the other providers generally allow fewer windows (e.g 3 with proquote) and/or only show the last few orders on each side. I...

Ah yes, as you have reminded me there is also the prospect of Bullie's rival service - wasn't aware it was likely to materialise that soon.

The Proquote service costs about 50% more than either Updata or ADVFN uncontended. FWIW ADVFN say they now have a script which runs every 30 minutes looking for rogue orders which should have been deleted. I love the readability of the ADVFN Level 2 screens. I think I'm going to do nothing...

Just to say that I have been warned off Updata, and steered towards Proquote by the following post: http://boards.fool.co.uk/Message.asp?mid=7590091 The problems he describes are similar to those I have been having with ADVFN (to do them credit they did act promptly yesterday morning to get...

streetwise, I make far more overall by trading off Level 2 and fine tuning my entries and exits, which needs the immediacy of online trading, than I lost on that single trade - not to mention being able to react much more quickly to fast moves than if I have to phone up

BeM, better to take a bit of time out until you calm down if you find yourself chasing losses like that - why not have a max loss limit for the day/week/month, and if you lose that much, walk away until the next day/week/month. Works for me (so well that I have never actually had to walk away!)

traderjoe, ADVFN.com - provider of streaming prices, intraday charts and Level 2 information

Streetwise, you haven't read my post properly. The newsflow occurred in the very short interval (perhaps 20 seconds) before my buy order being filled and my stop order going through. As I have done thousands of trades it is not surprising that this should happen eventually.

streetwise, so have I - the point was about levels of risk not about actual levels of drawdown. Unless position sizes are kept very small there is always the risk of getting stuffed if something exceptional happens - and I am not just talking September 11th type stuff or overnight events. I...