open book.

Discussion in 'Trading' started by Free Thinker, Nov 15, 2002.

  1. i am on my second day with the nyse open book through far it seems rather useless.i was hoping to get some idea of size pre market but it doesnt show anything premarket.maybe it takes some getting used to but i cant see anything usefull during market hours either.
    does anyone care to share any tricks or tips they use with it?tia.
  2. Dustin


    Depends what you trade. I've had open book from IB for about a week now, and couldn't imagine trading without it. Most of the stocks I trade are <5m vol/day. Anything over that will be useless imo.
  3. I don't like the open book. Most of the time they play just as many games on it as they do with TOS. Mot of the people I talked to swore in the beginning that they couldn't trade without, but changed their minds some time later, after the beginners luck with it wore off.

    But there are others that I know, very few, who trade less then 5 stocks who really use it well, but they trade much thinker stocks.
  4. Dustin


    I expected to see all these "games", but so far I just see nyse posting real bids and offers. Sure they get new orders that print aside from those prices, but usually what you see is real and reliable (in<5m vol/day stocks).
  5. I don't doubt the validity of the size, but what they do is yank the offer or bid off open book temporarily and get people to cover, and then put it back in.
  6. tntneo

    tntneo Moderator

    I agree with Dustin.
    However, I also noticed the book data is not visible anymore before the open. it used to.
    And that's not fair.
    by the way, just like any tool, some will find use, some won't. it's just a fact of life. get over it.
  7. Exactly.