Using Level-2 for Indices Trading

[gmarsh]

I've been trading Indices, specifically Nasdaq and Dax for some time. I've also been reading a lot about level-2 data for which the examples are always for specific stocks. I'm fairly new to level-2 so please bear with me.

Is there a way of using level-2 to help with indices day trading? I was thinking that getting level-2 data for a NASDAQ tracker ETF such as QQQ would help. And a respective DAX ETF too.

There is a further issue I see if I sign up to level-2, most of the time it's going to be UK level-2 which means I'd have to follow a UK ETF, perhaps CDNX and XDAX. Will these be decent proxies though for the market as a whole? Should I actually start trading CNDX rather than Nasdaq?

 

[sheridanmurray]

you will need to subscribe to cme and eurex to get level 2 data but if your going to do that you need to learn about volume profile ect , sierra charts is probobly the best platform for what your looking for . so your best sticking to one exchange first to learn what you need to . I have courses and books accumulated through my trading journer if you want to DM me for info . Level 2 is the way to go if your looking for better entries and exits get your head around it with videos from smb capital and john grady to see what your in for good luck with trading .