NYSE Open Book

Discussion in 'Trading' started by 777, Nov 17, 2006.

  1. 777


    Is it true the NYSE Open Book has no ( 0 seconds) delay?

    In the beginning It had a 10 second delay for subscribers.

    What is the story?
  2. My limited experience with OpenBook is that it is, at times, even ahead of the T & S tape on eSignal.

    It also will occasionally show things like the bid being higher than the ask for a few seconds.
  3. tradethetrade

    tradethetrade Vendor

    777, ob has no delay...at least not a 10 sec delay and I find it very important if you want to scalp listed stocks. It looks like you don't have it but I'd recommend it.
  4. 777


    When using the Open Book, what are the best things to look for?
  5. tradethetrade

    tradethetrade Vendor

    777, the open book is good for all sorts of things that would take me a long time to explain...that being said, the open book is very important. It tells you where to get out, when to get out, when to stay in the trade, it tells you where the stock might find resistance or support, it tells your entry point, it tells you when to get into a trade, it just tells you a whole lot... but it does not give you the complete picture so you have to use it along with a bunch of other tools to make entry/exit decision...e.g. charts, size, volume, prints... Tell us if you have the open book and we could give you some more tips.

    Hope that helps.
  6. is quote for open book on level 2 nyb?
  7. Crosses, stepping shorts, big size, big size that pulls when the price approaches it, flashing size...
  8. 777


    Yes, brazilianwonder, I have the Open Book.

    I believe it will help me if I learn how to use it better than I do now.

    Thank you for your posts.
  9. tradethetrade

    tradethetrade Vendor

    Can you see the things PinkBunny mentioned? Basically you are looking for relevant size on the OB. Then recognize if the size is a stale size (does not move) size that is stepping up/down (agressivelly trying to get filled), fake size (size that flashes and dissappears), maintaining bids (part of the size gets halved and steps up). Size could be 2500 shares and beyond. I would not pay attention to anything below that in most cases. With experience you will know what size is relevant to move the stock.
  10. mcelitetrader

    mcelitetrader ET Sponsor


    The openbook used to have a 5 second refresh. It is now realtime.

    However, stocks that are not yet under hybrid rules will still refresh at the realtime rate although orders are being matched by the specialist. This leads to delays on the book as the specialist cannot instantaneously match incoming bids and offers. At times the book therefore seems slow to react. The hybrid stocks.....up to 1k now......http://www.nyse.com/pdfs/hm_activation.pdf
    trade more quickly with direct+ taking all orders as they appear.

    Hope that helps
    #10     Dec 10, 2006