Level 3 is nothing. Level 4 is what you want access too. I can't even tell you what it does. bob111 knows
I remember visiting my friend at Knight. Watching him pick off the daytraders using level 3 was a lesson I will never forget. Clearly showed how futile daytrading stocks is-- you simply can't compete against this tech in the short term.
fyi nite was getting order flow from sucker venues like etard and ameriturd. now the hft scum do the same thing to the entire market. doesnt anyone here know a damn thing?
I am hiding on Level 77. Level 77 means I can see your ip addresses. Once I have this information, I remotely hack into your computer to see your trades. Since most of you suck at trading, I usually take the opposite side of your trade and target your stop.
Partly because there are zero retail day traders with an edge greater than spread + comms. Excited retail day traders .. market maker heaven. One or two, it seems.
many years ago, i believed in 1998 this site EliteTrader used to offer an online tutorial on Level2 trading. that is, how to read the bid ask and how to identify the Ax. i remembered paying a small sum (less than $100 not expensive kind) and had password access to the tutorial chapters. then the site was revamped and i lost access. does any old timer remember this tutorial? Baron wrote it and it was actually quite comprehensive, talking about Level1, Level2, and mentioned that market maker workstations are called Level3. does Baron still have this tutorial in storage? http://en.wikipedia.org/wiki/NASDAQ the original post obviously did not know how to use Wikipedia. it was mentioned clearly Level3 is for Market Makers. Quote availability NASDAQ quotes are available at three levels: Level 1 shows the highest bid and lowest offerâthe inside quote. Level 2 shows all public quotes of market makers together with information of market dealers wishing to sell or buy stock and recently executed orders.[9] Level 3 is used by the market makers and allows them to enter their quotes and execute orders.