A few questions before choosing a broker - day trading in US stocks

fabiansc

Junior member
10 0
Hi guys,

I'm currently thinking about a broker for my trading comeback after digging in some books and learning and planning how should I really trade and I came up with a few questions I'd really like to hear your opinion about them:

1. Level 2, I know what can be seen in it, the question is, is it really helpful these days? Or is it being to manipulated by market makers to such an extent that the data can only be confusing and price action + volume should be enough?

2. Does anyone here uses volume spread analysis for day trading? Or is it mostly for swings?


Thanks in advance :)

Fabian
 

numbertea

Well-known member
257 9
I was always interested in trading using the L2 data but could never readily follow the real time ladder in a way that helped me due to movement faster than my eye or brain could absorb. I recently have switched to a L2 provider where I can use their API and create my own cumulative L2 charts. I am trading now with much better profit. I highly recommend L2 if you can find a way to view it that makes sense to you. I always use pattern recognition and all L1, L2 data now. I won't trade any other way now. I day trade the ES and I don't hold over night positions.

Cheers
 
 
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