Any recommend ADVFN platinum with Advanced Level2?

[FTSEBOY]

Hi there,
I've just got my IB account set up and am looking to trade FTSE futures within the next two weeks. I have had a quick look at ADVFN's UK Platinum with Advanced Level 2 and it looks like what I am looking for i.e streaming real time FTSE cash and future charts, although its a little on the steep side £99-00 + VAT a month. Does anyone use this package at the moment and if so what are your thoughts?
I don't know whether its any testament to ADVFN but I sent a mail last Thursday asking for the free 1 day trial and as of yet I am still awaiting a response.
Cheers
FTSEBOY

 

[options]

Do yourself a big, big favour. Advfn's L2 will not work on ftse future. It is for stocks only. That 's the idea of a L2 set up. And in any case it will be cr*p. Let me quantify that by saying that it is years behind the L2 nasdaq set up. (All in my honest opinion of course.) It will not show you who the market makers are. Just the buying and selling which tells you absolutely jack.
£99 per month is nothing to pay for something that works for you.
If it works for you!
And until the uk comes up to scratch with the usa...

Sorry if this reply sounds a bit strong, but I tell it as I see it.
You have the IB account set up?
Then look at their site for a list of software that works with their feed.
Like a lot of people here, I use Sierra charts. It's real time trading.
Others use MyTrack. Even Medved is coming on strong. Why use a secondary feed when you can use real time chart and trade?

And you are right with the e mail. Whenever you're thinking of joining something, send the Governor an e mail. How they respond will tell you something about the company.
By the way, IB are crap at this, but they are a no holding hands set up.

 

[options]

Oooh Sharky, the software allowed me to say 'cr*p'. Sorry I thought it would block it

 

[Naz]

Of course Options is correct UK level 2 doesn't even come close to Nasdaq level 2 direct access,which normally will be free from your broker.

I ask myself sometimes,why would anyone who wants to know what's going to happen next even consider UK level 2 when the Rolls Royce of level 2 systems is available for free (subject to the amount of trades being traded/month) on the Nasdaq,a market which makes the UK look pedestrian!

 

[fltbear]

Hi Naz

Who provides 'NL2 4 Free' (sounds like a good name for a US brokerage or spread betting firm!)?

Seriously, I'm looking for a set up giving at least the following at a realistic cost:
a) decent charting with convenient fibonacci;
b) good NL2 direct access with hidden island, ability to colour highlight the primary & secondary ax, hatch mark the ECNs, incorporate the island book etc;
c) 'realistic' charging structure.
d) telephone support for the occasional platform disaster.
No one outfit seems to have the lot.
Any suggestions gratefully received.

 

[Naz]

fltbear,

Of course things always seem to change slightly.I was using tradestation 7 with exptrader which covered everything you mentioned.

However exptrader has been discontinued and although i get tradestation 7 for charts which is great.Esignal would work just as well.

Now for the trading platform.As exptrader has been discontinued any of us that used it have been put over to directaccess elite.

Ok the problem for many and myself at the moment is this.I found exptrader good enough for scalping and swinging.It had everything that you mentioned you needed in your post.However near the end the platform was becoming unstable,so it had to go.

Now it seems that i can only find what i think are gentle level 2 platforms for beginners or fast scalpers platforms.Although i love scalping the fast morning moves,i also like to swing Nasdaq stocks because of their immense potential profits.So for me it will be two accounts one probably with lightspeed from e trade and the other at the moment with the one that i'm with.

Just one other thing,spend a day with myself or another good Nasdaq trader if your going to trade Nasdaq level 2 and haven't done it before.It will REALLY help you.Even good UK level 2 traders come and spend a day with me before they switch over.

Good luck.
Naz

 

[options]

Blimey, you start early for a usa trader Naz. It's only 8.15 am.
Mind you I have hit my target points for the day on liffe future so I can go back to bed now if I want. In truth though I will probably be glued to the screen all day.

Anyway the reason for the post.
If you get a chance would you have a look at this set up and offer a view please.
http://www.spectrenet.com/sl4/index.html

Ta.

 

[Naz]

Options,

I've just had a very quick look.I see that they do a free 1 week trial and one would have to do this in market hours to get a good overview,which i might do when i've got the time.The main thing i always look for are the orders and in this department they were lacking a little.When i'm trading quickly i want as many different combinations as possible.If you ever use lightspeed you'll know what i mean.

So it looks like an executive car with all the toys but lacking in execution tools and that matters to a trader trading fast morning moves.However that opinion is with one just a quick glance.

Thanks for the link i'll check it out again when i've got time.

 

[del]

Naz,

What charting software, Nasdaq level 2 platform and/or brokers are you currently using? In previous threads you mentioned etrade/lightspeed and tradestation 7.
Del.

 

[Naz]

Del,

I'm using tradestaion 7 and directaccess elite.However i will be no doubt br opening a Lightspeed account,because i've traded with it before and their is nothing finer in trading those fast morning moves.Make your money in the first 1hr-2hrs and call it a day.For that you need the best.Its all right seeing and trading those moves on a chart but in real life you have to transact at those levels.For that you need lightspeed.

 

[del]

Naz,

Who is running the Lightspeed platform and what speed internet connection would be required?

 

[Naz]

For Lightspeed contact [email protected] Mention my name if you want. You would need broadband for it. Hope this helps.

Naz

 

[del]

Many Thanks.(Currently with NTL cable modem access of 512kbps)
From reading t2w (a fantastic site) level 2 seems to be the solution if serious about becoming a daytrader. As a novice I'm still on a steep learning curve. But hope to meet you via your cousre in the near future.
Del.

 

[Naz]

Hi Del,

We know that Nasdaq morning stock moves are very profitable and the odds are the ax is running the stock.He is the one that can start,stop and end the moves.He can be seen on the level 2 screen.

I was showing the COST move to two traders yesterday.There was no spread a lot of the time.they looked on in amazement that the stock can be traded without any spread.With the direct access orders this can be done.Every 1c saved doing this saves a standard day trader $10.

So if you can see the ax moving the stock and you can take the position without any spread and transact in the blink of an eye.You've got the perfect trading platform for those fast morning moves.

Day traders in the US use Nasdaq level 2 direct access to trade these moves,they just wouldn't use anything else.Its not a set up thats only for experienced traders its a must for traders of all levels if they want to make $1000 in the first 30 mins.

Why because you have to keep your stops tight.If it goes against you as fast as you make money it will take it away from you.If youre trading from a chart how do you know you can exit where you want to? Remember these are stocks not indices.

You may look at the chart and think oh yes thats my exit,i look at my screen and see if its a reality that i can trade that many shares at that level.I then have a plan using my direct access skills as to how i'm going to work my order and who i'm going to hit.So as we're going up my stop is reality rather than hope.Remember a chart will only give part of the story put it together with level 2 direct access and you have the whole picture.

The chart is closing the gap with COST yesterday.

 

[del]

Thanks for the prompt reply.

Before applying for your course need to ensure I have the right hardware (computer- CPU, Power Unit, Iternet access(ntl cable)etc.) and software/platform. Emailed Ramesh for Light speed demo and await his reply.
As regards hardware will be checking t2w members. Your comments are appreciated.

I have a month or so of researching to do - you'll see me asking the novice questions on this board e.g. what is COST?

Del.

 

[Naz]

Hi Del,

The cost is £345 for the day and can be booked on the home page of t2w.Its a small price for the benefits it will give you in being able to trade Nasdaq stocks correctly.

 

[theknifemac]

Hiya Naz and Del. Naz I suspect that Del was asking what COST was as a ticker, it is Costco Wholesale Corp. A company that I spend a lot of my money at or rather my wife does.

Cheers

Mac

 

[Naz]

He,he,

Mac of course your right.