TradeStation - LDLU (LULD) Information?

Discussion in 'Retail Brokers' started by Cypherdude, Jun 27, 2020.

  1. Hello, can anyone tell me if TradeStation gives LDLU, also spelled LULD, information for each stock? LDLU is "Limit Down, Limit Up". Some brokers call it LULD for "Limit Up, Limit Down." It's the same thing.
  2. what is the purpose of LULD, what it does for a trader ?
  3. piyayo


    In level2 you will see a price level with a "LULD", for example "12,27 LULD" in the bid colum, that means that if the stock goes down and touches that price and stays there for few seconds (I´m not sure what the exact number of seconds is), the stock will be halted and will start a volatility auction.
  4. GotherL


    Not all level 2 have luld. Never used tradestation so I wouldn't know. But if it does you'll see it in the level 2.
  5. Correct, for example Das Trader Pro software, I believe, will have "LD" on the Bid side and "LU" on the Ask side. Das Trader Pro will also have LDLU dollar amounts above the Level 2 columns. When a stock hits Limit Up or Limit Down, above the L2 columns will change to say "Trading Paused!" and all retail trading will stop/freeze.

    When a stock hits either LD or LU on the Bid or Ask side, respectively, the stock will halt for retail traders. IMHO, this is where trading becomes unfair, rigged even, against retail traders. Even though trading is halted, once the stock resumes trading 10 minutes later, the stock price can sometimes be substantially different from before the halt. I believe the stock keeps trading for the bigger players, possibly in dark pools. I'm not exactly sure where. The point is, if you are in a trade and hit a trading halt, if you are in the wrong direction, you could lose 20%, 30%, possibly even 40% of your position.

    IMHO, this is why having LDLU (LULD) information is so important. If you get stuck in a trading halt, you are probably going be hurting. Smaller retail traders need to be able to dodge around these halts. BTW, beginning this year, 2020, I believe the trading halt levels have been made even smaller by the SEC. IMHO, this has rigged trading, either intentionally or unintentionally, even more against the smaller retail traders.

    I believe neither TD Ameritrade, E*Trade, nor TradeStation will tell you where the LDLU levels are. This is surprising considering how critical these levels are to retail traders. If I am wrong about E*Trade or TradeStation please LMK but I have never seen LDLU on them. If I discover they have them I'll post it here.

    The above was my opinion. I make no recommendation either for or against brokers, software and any investment instruments. You and you alone are responsible for your investments and trading.
    Last edited: Jun 28, 2020
    S-Trader and comagnum like this.
  6. You should never get caught in a halt. So many think they hit the band and your stuck but that is so not true. Once a stock hits the band you have 15 seconds to exit as the stock has to stay at that level without moving for 15 full seconds. Plenty of exit time
    j_medved likes this.
  7. wpost


    I'm using MedvedTrader, you can add an indicator to a chart that will plot the LU/LD price minute by minute. Kinda cool watching the price touch the limit line and then trading halts.
    j_medved likes this.