Hey guys I am Naz trader that recently started trading some NYSE particularly the brokers. Anyway I dont use the NYSE open book but was wondering if I shuold get it and if it is really useful with the new hybrid system, I would appreciate any advice thanks.
No it really isnt worth it. I have it, but if I had to actually pay for it I would not use it. It had its time....and it has long since passed.
if you use level 2 to trade on a scalping basis,, then yes,, youd be stupid not too,, either than that, im not sure,, and a little to drunk to think about it,,
If you're scalping/daytrading it's important. It's not as useful as it once was, and there are lots of games played in it which you have to learn, but it's still important to know. Sometimes you'll come across highly aggressive buyers who will willingly show their hands. Sometimes you'll pick up on patterns on the games being played. It's worth paying for unless you're never scalping or doing short term trading.
is it worth the $50-$60? yeah i guess so. like others said, hybrid made it alot less useful but i would still rather have it than to not. probably the main thing i use it for is to get an idea of how thin a stock is trading. alot of size on the book is fake but you can still get an idea if something is tradeable for a daytrader.