How Powerful is your level II

Discussion in 'Order Execution' started by SitrusTrader, Mar 10, 2004.

How Powerful is your Level II?

  1. I Don't have a Level II.

    26 vote(s)
    34.7%

  2. My Level II has bids/ offers only from Market Makers

    2 vote(s)
    2.7%

  3. My Level II has also bids/offers from some ECNS

    3 vote(s)
    4.0%

  4. My Level II has bids/offer from all ecns

    4 vote(s)
    5.3%

  5. My Level II has bids/offers and books from all ECNS

    13 vote(s)
    17.3%

  6. My Level II has all that, and I can use it in my platform (ie selecting who to hit, enter orders, ie

    26 vote(s)
    34.7%

  7. Other (please discribe in the thread)

    1 vote(s)
    1.3%
  1. SitrusTrader

    SitrusTrader

    I want to know, after reading many posts about your Level IIs, how powerful are they that you have. I.e what can you see, how can you use it?
     
    #1     Mar 10, 2004
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  2. TorontoTrader2

    TorontoTrader2

    Ironic that CyberTrader is sponsoring this thread but I use CyberX2 and get full ECN books on BRUT, ISLD/INCA (now INET), and ARCA, plus all market makers and can click on the one I want that hit buy or sell. I could not live without it!!

    Also get streaming Level 2 for all 5 options exchanges. As I trade mostly options that is very nice.

    Cheers
     
    #2     Mar 10, 2004
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  3. SitrusTrader

    SitrusTrader

    That's exactly how i feel
     
    #3     Mar 10, 2004
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  4. Turok

    Turok

    How powerful is my level II?

    Anything your level II can do, mine can do better. Mine can do anything better than yours.

    JB
     
    #4     Mar 10, 2004
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  5. Kicking

    Kicking

    My level 2 is all powerful, it has all these nice moving colors , with all those MM symbols, makes me think I am one of them. I can't help but stare at it. I click on any color and bam I made a trade ! I can't help but click on these nice colors, I like the yellow and the green, it's a change from all the usual red .
     
    #5     Mar 10, 2004
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  6. nyc-hotshot

    nyc-hotshot

    I've used Cyber and several other firms in the past. Currently I use the DAS software offered by Realfasttrader.com and it is very good and user friendly. Good execution speed and has all the Level 2 quotes, charting and other bells & whistles that I need.

    The Level 2 has the INCA, ISLD, BRUT and ARCA books built in, along with the regular Level 2 market maker and exchange info.

    I attached a screen shot I had taken for those interested to see how level 2 looks with all the books in there.
     
    #6     Mar 10, 2004
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  7. AnonymousTrader

    AnonymousTrader

    Here's my Level II
     
    #7     Mar 11, 2004
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  8. lescor

    lescor

    Who's L2 combines ecn's and nyse into one box?
     
    #8     Mar 11, 2004
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  9. c_verm

    c_verm

    I like level II for playing breakouts on minute by minute chart patterns. If you understand Market maker traps then you can Scalp or make a quick few cents on stocks several times a day.

    My level II only has Market makers on it so I can see if there is a MM trap to profit from. I also havea Island book open so I can see other big orders which would act as support or resistance.
     
    #9     Mar 12, 2004
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  10. Ares1

    Ares1

    I noticed that the last post was on 2004.

    While I was in the chat room a few months ago, I remember someone commenting that shadowing the Ax is "old school" (not the exact words but the general idea on how I received the comment).

    I'm just wondering how powerful a Market Maker Trap is for traders these days (2007)?
     
    #10     Jul 16, 2007
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