I'm kina new to the day trading but have done a little regular trading years ago with datek. Since then nothing for many years, I want to get more into market and have been taking time to study up and practice but my biggest concern is selecting a good broker that will offer great execution, level II quotes since day trading, and low execution fees. I see most give level II for extra 10bucks a month. I see scottrade at a nice $7 per trade but not to sure how good there elite software is and their execution times. I'm sure others here have much more experience in suggestions on this?
I'm from IB and I'm sure we can satisfy your criteria. However, I don't think there is much info or importance with level II anymore. Do a couple searches on this site. You'll see the pros/cons of many brokers and also should find a few threads discussing the merits (or lack of) on level II.
Why do you say " I don't think there is much info or importance with level II anymore" ? Am I missing something that someone can help fill in.
I would recommend looking into trading "es" (e-mini sp500) instead of nasdaq stocks. The deal is just so much better for small independent traders.
thanks, for that but still curious why he said " I don't think there is much info or importance with level II anymore" ? Am I missing something that someone can help fill in.
l best defer to others on this. Given the level of automation in the markets these days, I just don't think there is much to be gained looking at a level II screen. I recall reading some similar input from others. Perhaps you should start a thread specicifically dedidated to level II and ask the same question. You'll probaly get a better response.