Level 2 access data

[Gringotts Bank]

Anyone have level 2 data on any market?

Can you show me a screen shot of what it looks like?

Thanks

 

[CanOz]

NK, level II presented in the Jigsaw DOM.

 

[Trembling Hand]

Want some more of other markets?

 

[CanOz]

You just had to one up me with video didn't ya!

 

[Trembling Hand]

You just had to one up me with video didn't ya!

I just took a good one of the AUD, Oil and Taiwan during the China PMI.

Will post it later if anyone is interested?

 

[Gringotts Bank]

Thanks for this. What about for equities? I notice you can buy level 2 access data for ASX but I'm not sure what that actually gives you.

 

[CanOz]

Thanks for this. What about for equities? I notice you can buy level 2 access data for ASX but I'm not sure what that actually gives you.

It gives you the depth...like this, this is IBs market depth.

US equity traders us the depth, and time and sales to stalk trades...they look for similar things as index traders such as held bids and offers (absorption), hunt orders, etc. Their depth also has whether its Arca, or whatever specialist that is handling the orders. You can tell if that entity is coming back to the bid or offer frequently to do business.

ASX is a little more ambiguous i believe...

CanOz

 

[Trembling Hand]

Thanks for this. What about for equities? I notice you can buy level 2 access data for ASX but I'm not sure what that actually gives you.

HUH??!!

How can you possible make half the claims you have about bot manipulation if you have never even seen a DOM screen before let alone watched one live

 

[Gringotts Bank]

HUH??!!

How can you possible make half the claims you have about bot manipulation if you have never even seen a DOM screen before let alone watched one live

level 2 = DOM? That's all it is?

I thought it was something special.

 

[Trembling Hand]

For anyone who is interested, here is the DOM action during the China PMI announcement an hour ago.

AUD left, Oil middle and Taiwan on the right,

[video=youtube_share;igvvOyLJDoY]http://youtu.be/igvvOyLJDoY[/video]

And then the Kospi a few minutes latter,

 

[kid hustlr]

TH whats the colour code in the Kospi clip?

The purple is 'last traded' i assume but whats the yellow?

 

[Trembling Hand]

TH whats the colour code in the Kospi clip?

The purple is 'last traded' i assume but whats the yellow?

Highest Bid and lowest Offer. Last traded has priority thats why it looks like its coming and going.

 

[dlineinvestor]

G'day,
Couple of questions about reading the tape and level 2 data :
These questions might seem pretty general but I know alot of ppl would like some ideas including myself

Which platform has the best ergonomic level 2 data

Is there a site that can help better understand how to use L2 with time and sales.

Do you have to use time and sales and L2 together

Is L2 suited for mainly for scalpers.

Pic is IG Markets L2
thank's in advance

 

[Trembling Hand]

Pic is IG Markets L2
thank's in advance

I don't think that is real data. Just synthetic rubbish from a CFD provider and I would think without actual real tick volume so even more useless.

 

[skc]

I don't think that is real data. Just synthetic rubbish from a CFD provider and I would think without actual real tick volume so even more useless.

It's actually real. L2 platform by IG is DMA so real prices and volume.

Which platform has the best ergonomic level 2 data

Take a look at Iress, Spark and Paritrade for equities. For futures consult others.

Is there a site that can help better understand how to use L2 with time and sales.

Not really. It's too dynamic and complicated to be easily described by a site. You might find some videos on Youtube explaining what happened, but each market / time period / stock etc are so different it's difficult to learn from and apply it successfully.

Do you have to use time and sales and L2 together

Yes. You need to see at least the last few trades so you know if the drop in volume of the bid queue was due to: order pulled, order hit or order dropping and hitting ask etc.

Is L2 suited for mainly for scalpers.

No... it's for anyone who cares about their entries and exits (which should mean every trader). Obviously the smaller the movement you are trying to catch, the more a tick or two on entry matters. If you are planning to hold something for 20 years, then perhaps a tick here or there wouldn't matter much.

 

[dlineinvestor]

I don't think that is real data. Just synthetic rubbish from a CFD provider and I would think without actual real tick volume so even more useless.

Hi,
I don't plan on sticking with this data.
Everyone has to start somewhere right, from my enquiries Lightspeed has what I'm looking for. I'm told reading the tape is not that hard.
Of course for anyone that has not mastered it yet many unknowns will exist.
Just wanted to know if anyone on this forum has a product they like.
Seems not many here do, (I could be wrong pipe up if you do) I think it will be necessary to master if one want's to lower your entry risk and better know when to get out of a position.
Premarket is where it's comes in to it's own.

 

[dlineinvestor]

Cheers, SKC I'll look into that information
At this stage I only understand the importance of it ... now for the second stage

I've seen L2 for US traders and their L2 screen shows market makers and retail orders. The MM become known to the trader over time (via showing prefixes not just numbers)

 

[dlineinvestor]

Take a look at Iress, Spark and Paritrade for equities. For futures consult others.

For futures do you have a preference.
I have CQG powering NT but the L2 (DOM / Ladder) isn't really what I'm looking for.

Anyone else have an opinion on the NT DOM ?

 

[CanOz]

For futures do you have a preference.
I have CQG powering NT but the L2 (DOM / Ladder) isn't really what I'm looking for.

Anyone else have an opinion on the NT DOM ?

Contact jigsaw and trial their DOM...there are others as well now copied from the same idea.

 

[dlineinvestor]

Contact jigsaw and trial their DOM...there are others as well now copied from the same idea.

Cheers, I'm looking over options right now, I've heard good things about Jigsaw.

Here's a bit on the tape and what it can do for the trader :

Reading the tape is one of the essential indicators when active trading. Many traders know about the hundreds of indicators readily available on most trading platforms, but very few have an idea of how to read and interpret the tape. Interpret is really the best way of describing how you need to approach your relationship with the time and sales window. Unlike other indicactors which have oversold or overbought levels, reading the tape is specific to each situation. This goes beyond how a stock trades, but how a stock is trading on a given day and at a given price level (e.g. 10, 25, 100). The basics of the time and sales window and tape reading (speed of the tape, size of orders, etc.). The tape is most important when validating breakouts and supply vs. demand at critical price points.After mastering the message of the tape, you will be able to accurately decide when to enter and exit a trade.

A few have stated that T/A doesn't work .... but you couple T/A with tape reading and I think that would be a real game changer.