I have another newbie question. I am looking for any information on Level II quotes. I can go anywhere on the Net or the library and find out information on RSI, MACD or any other indicator. The one thing I can't find is using Level II quotes. Any ideas?
In the old days, there were many websites offering level II quotes (for a fee) and a *free* trading "class" in how to read these quotes. Theory was, that you could just look at a lev II screen, step in front of the big boys and scalp your way to riches. Yeah right. A quick search on the web didn't prove fruitful.
Go to the bookstore and look for sections in many daytrading books about using Level II. But as TGregg said, Level II is not the goldmine it was once portrayed to be, especially if you are newer to trading.
These books are a little dated. However, they will provided useful information to a newbie looking for a tutorial on Level II. Financial Freedom Through Electronic Day Trading by Van K. Tharp The Nasdaq Traders Toolkit, by M. Rogan Labier. -- Z
i believe rogan was doing his book online, as well, because he recognized that methods which work today won't work tomorrow..and vice-versa.
Labier *did* have an online, ever changing order execution manual. It was called the "Tools of the Trade." But, it is gone now. My understanding is that the publisher of his "Nasdaq Traders Toolkit", a hardcover book on same topic, bought the rights to the web version as well, and then did exactly nothing with it. It is a shame, since that book was the best source of order execution info around. The hardcopy book IS a bit dated at this point. But it is still, imho, the best conceptual guide to execution. It conveys the correct mindset and tools you need to have to execute effectively in any situation... Wish the author would come out with an update.
www.datschool.com/course I saw this thread a few days ago and it reminded me of this link-which I have been looking ever since. This course used to be for sale for hundreds in the bubble days....now it appears to be free! IN my opinion it was some pretty good stuff in terms of the content and presentation. It helped me immensly when first starting out and is a GREAT resource for newbies. Another victim of the bubble crash former pay out the wazoo for the content and its now FREE!! No one can pimp me for this as their ain't no benefit to free snake oil! I love the after effects bubble mania.
Steve72, Thank you for the link. I just glanced at it and it looks very interesting. I will look at this weekend and let you know how things go. Colin
No prob. Like I said it is amazing what has transpired the crash of bubblemania and to see this available for free now is like WOW
Did you check it out? Did the volume on the self-narrated portions work for you? I think I may have sound card issues or something?!