Just stick with what's happening inside market, basically what you can see. I personally don't find level II useful for a whole lot other than for pinpointing pivot points during a selloff or rally. Charts are the best thing to watch. Check out the Market Guys candlestick chart seminar on Etrade if you're not familiar with this method analysis. GE's 5-minute chart showing dojis on selling pressure, at the top of an uptrend, plus traders always takes profits in about 70-90 mins. You can take your profits, or set a trailing stop and follow it up further if it gains.
I just sold at 31.02 It looks like it does not want to go much higher past up to 31.10 hopefully If they are not going to trade why bother putting in those prices? I like looking at all the different screens, real interesting stuff, Whats amazing is how all this stuff is fed so fast to the computer all at one time. (level 2, streaming news info, time/sales,charts,etc..)
Thats what I am using the candle stick charts 1 minute with volume on the other half. I am going to watch that video in the evening to get more knowledge. I notice when the volume starts to go down with more some more reds than green then things seem to settle down. I also filter the streaming news for GE so if something pops up I can see it also
Every trader is a noob at some point. I started trading in February, got all excited and made a bunch of incredibly successful trades before my first big loss hit home when the market reversed. Then I read the books and took the seminars. Wrong order - start with education, then trade :eek:
original poster....don't listen to this idiot who posted this, he is ET's biggest loser .......and keep up the good work. Use stops and you will do well. #1 Rule to Follow......Protect your capital at all costs. Good Luck.
Market makers that work with a stock are normally required to "make a market" so they will always have a bid and an ask. Being that GE is NYSE that market maker probably normally trades the stock but chooses not to at that time your watching LII
shut the fck up...you havent ever traded a stock asstard...go suck your mothers nipple you 14 yr old puke.You just post nonsense all day under different id's.