Level 2

Dow Dog

Well-known member
409 0
Questions for experienced Level 2 traders :-

Is the use of Level 2 an absolute necessity for you to trade successfully or is it just an add-on that gives you enhanced success ?

If the latter, then what approximate percentage enhancement to profits do you think it gives you ? eg. if you can make 1,000 points without Level 2 in a given period, then how many points would you make in the same period with Level 2.
 

Trader333

Moderator
8,655 981
DD,

I agree with Mr Charts comments and in my own case I primarily use Level II for reducing risk at entry.


Paul
 

Dow Dog

Well-known member
409 0
I have decided to bin Level II. For me it is more trouble than it's worth and I am not going to throw good money after bad in a desperate attempt to learn more.
 

Naz

Experienced member
1,391 24
I've just noticed the thread.

Many of the books out there written on level 2 can be a little out of date.The best level 2 demo in my opinion is
directaccesselite.com.

Those of us that use level 2 i'm sure we just wouldn't be without it.I think Bramble was correct when he said "L11 is a powerful additional trading tool in your arsenal.You just need to learn to use it as you did TA in the beginning."

ANYONE can email me at [email protected] and i will gladly have a chat about anything and if they leave their telephone number talk to them directly.

Naz
 

Dow Dog

Well-known member
409 0
The best level 2 demo in my opinion is directaccesselite.com.

Went to their site but saw no mention of a Level II demo.
 

Dow Dog

Well-known member
409 0
Trader333 wrote :

No problem then, you can open another Level II screen and just click on "Site" and select Island Level II Streaming then open another Level II screen and select Arhipelago Snapshot and set the refresh time to 1second.

Paul, I have tried to open more than one window for a particular stock, with Money.Net and it doesn't appear to work. It only allows me to open a single LII window per stock.
 

Dow Dog

Well-known member
409 0
Naz.

Thanks for phoning me this morning on your weekend and taking the time to go over various Level 2 issues.

It was very helpful and I am sure that I can begin to make some progress as a result.

I will not now bin Level II - lol.
 

Trader333

Moderator
8,655 981
DD,

It is on Quotetracker that I was talking about being able to open more than 1 Level II screen. It is done as follows:

Click on the equity in your portfolio and Right Click.
You will get the left hand screenshot view and you just select the area I have highlighted in red.

With the new Level II screen now shown you click on "Site" and you will then get the screenshot view shown on the right. I have highlighted the 2 sites you may want to include. Obviously if you want both then you have to repeat the above to open another Level II screen.

My setup is shown in the second post but is when the market was closed, however you can see on the left I have the standard Level II screen then T&S then the Island book and then the Arca book.

When the market is open there is much more depth across all screens. Please bear in mind that I use Level II differently to others and my setup is specifically to address that need. I know that Alan and Richard have an entirely different approach and what I use would no doubt be inadequate for their needs but my setup does work extermely well for me.


Paul
 

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Trader333

Moderator
8,655 981
Level II Screen Setup and I apologise for a overly wide screenshot
but I am unable to maintain the same quality by making it smaller.
 

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Last edited:

robq

Active member
139 3
Click on the equity in your portfolio and Right Click.
You will get the left hand screenshot view and you just select the area I have highlighted in red.

With the new Level II screen now shown you click on "Site" and you will then get the screenshot view shown on the right. I have highlighted the 2 sites you may want to include. Obviously if you want both then you have to repeat the above to open another Level II screen.


When I tried this I did not get a second level 11 screen. However, if I did it for a different equity then I got a second screen and if I change the symbol to that of the first equity I could get data from a second site as Paul has shown.

Rob
 

Dow Dog

Well-known member
409 0
Just as a matter of interest, am I right in saying that on the main Level II screen, Island = cinn, and Archipelago = arcx ?
 
 
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