Better information

[Real-Numbers]

Guys, i see here a lot of people praising or condemning day trading. I believe that the only successful one is done by using better data. Long time ago there was the famous stock tape, after, when the charts were introduces, the novelty was not accepted as people were still using fundamentals. After the banks started using in a successful way the charts, and after that technology became more affordable, traders started also to subscribe to them and now everyone uses them on a daily basis. Same i believe will happen with Level 2 Data, the Market Depth. Until now only big institutions had access to neural networks, making a sense of that data whilst we only had flashing numbers of the current state of the market, with no option to display historical data. I am sure that when we will have that type of graphs and information that trading will not be so random as so many people say. I think that the fact that proves that is the difference in using the tape and using the charts to make a trade. What do you think about it?

 

[new_trader]

After the banks started using in a successful way the charts, and after that technology became more affordable, traders started also to subscribe to them and now everyone uses them on a daily basis

Charts don't require technology. Not sure what you mean by this. Traders drew charts by hand using pencil and paper and according to some accounts, the candlestick chart was used by Japanese traders in the 17th century.

 

[Real-Numbers]

I am not sure what you mean by ,, charts don't require technology'' ...... It's a given that they are a digital display of the price, so by definition you need technology to be able to see that on another piece of technology, the screen. I understand you talk about 17th century charts, i just hope you don't use them. I talk about the market depth, all the information in that market, everything that until now was not possible to see graphically, as there was no technology for that. Mentioning the charts back in the days, the ones that were not accepted by old school traders, i just compare them with Level 2 displays that we have now. I assume that Level 2 will be accepted and used as much as traders use now the price charts.