Do not confuse UK level 2 with Nasdaq level 2,they're as different as chalk and cheese.I have written a small article further down the board called Nasdaq level 2 direct access trading which shows level 2 along with a write up explaining what it is.
Do not be fooled into thinking well i've looked at it and it dosnt look that much to me.Nasdaq level 2 is the chess board on which the Nasdaq takes place.You are a player and therefore must know all the moves,you must also understand how the large players are moving the game.they have to participate,you do not.So you watch and wait.At oppertune times you strike based on your reading of the game.You are now in play and must manage the trade with your skill as a trader and your reading of the screen.
Level 2 Nasdaq is the Nasdaq market,where the stock is going is shown in advance by how the players are playing it.This therefore allows you to take positions before the move starts.It also means you get in early with tight stops which allows you to extract more profit out of the move.
It sounds difficult but if you spend a day with someone who can read it well,your on your way.
I look forward to talking to any of you who are already booked and coming to the clickevents seminar this saturday at Guilford University where i will be lecturing on Nasdaq level 2.(i'm afraid there are no more seats as it is fully booked.)
Alternatively i run 1 day crash courses on the subject and can be contacted at [email protected]