level 2

davidwebbthegreat

Junior member
23 0
hello just srumbled across this, wondering if any traders use it here, is it a usefull tool and does it give you an advantage or an edge when trading.
thank you.
 

Inquisitor

Active member
194 79
Level II was great before the move to decimal increments and after that it became of limited use and since HFTs have come onto the scene it is virtually useless for any edge at all. You will only be wasting any money you spend in trying to make use of it.

Why are you keen to want to use it?
 

davidwebbthegreat

Junior member
23 0
Level II was great before the move to decimal increments and after that it became of limited use and since HFTs have come onto the scene it is virtually useless for any edge at all. You will only be wasting any money you spend in trying to make use of it.

Why are you keen to want to use it?

I thought it may give you an edge that's all I haven't seen it in action and know very little about it I thought it was yet another useful tool for trading giving you confidence when placing a trade.
 

pennycapitalist

Junior member
39 15
Hi David,

If you are going to try Mr. Charts snipe setup, open up L2 and the time and sales. Paper trade a few and watch the Price Action, the bid/ask, and the time and sales. See if it helps. It's a bit like watching cars on the freeway. If the traffic is too fast, you might get hit by a truck, but if the traffic is a bit slower, you might see the truck coming before it hits you.
 
 
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