Level 2 access data

[Trembling Hand]

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.

Highly doubt it.

 

[dlineinvestor]

Highly doubt it.

ur too predictable mate ... bit like the tape speeding up through resistance
B nice and post an instructional tape reading video

 

[Trembling Hand]

ur too predictable mate ... bit like the tape speeding up through resistance
B nice and post an instructional tape reading video

Let us know how your next 100 trades goes with it. I'm sure lots of people will be interested in some hard stats on the outcome before they jump off to "the next big thing".

 

[dlineinvestor]

Let us know how your next 100 trades goes with it. I'm sure lots of people will be interested in some hard stats on the outcome before they jump off to "the next big thing".

"next big thing ... I don't see it that way I've know about it for a while now. But feel free to add something constructive.

Looks like only a small % of ppl on this site use it. Still very early days ... but was watching it with the DAX saw a couple of things that made sense.

Prints at "before ask and before bids bids.
Block orders
Speed of tape ... still heaps to learn !

Took some trades with it, surprised me in some cases.
It will take a while being self taught ... always does. Couple of good sites I've found if any one is interested.

 

[Trembling Hand]

"next big thing ... I don't see it that way I've know about it for a while now. But feel free to add something constructive.

Looks like only a small % of ppl on this site use it. Still very early days ... but was watching it with the DAX saw a couple of things that made sense.

Prints at "before ask and before bids bids.
Block orders
Speed of tape ... still heaps to learn !

Took some trades with it, surprised me in some cases.
It will take a while being self taught ... always does. Couple of good sites I've found if any one is interested.

My point is you can use the same ball as Tiger Woods still won't make any difference to your handicap. Everyone raves on about,

I think X would be a real game changer.

It is just a tool that everyone has (100% of prop and disc insto use it to execute). They can all help with a tick or two here and there but in no way are these things "game changer". More often I have seen people get them and all of a sudden they are reacting to the next 2 ticks and spoofs in the orderbook when their targets and stops are 50-100 ticks away. Thats is a game changer..... for the negative!

But feel free to add something constructive.

What about this,

http://en.wikipedia.org/wiki/Quotation_mark
In English writing, quotation marks or inverted commas, also known informally as quotes or speech marks[1] or as quote marks, quotemarks or speechmarks, are punctuation marks placed either side of a word or phrase in order to identify it as a quotation, direct speech or a literal title or name. They are also used to indicate that the meaning of the word or phrase they surround should be taken to be different from (or, at least, a modification of) that typically associated with it;[example needed] in this way, they are often used to express irony. They also sometimes appear to be used as a means of adding emphasis, although this usage is usually considered incorrect.[2][3]

 

[skc]

Perhaps you could buy one of these.

 

[darkhorse70]

haha SKC that's sick.

 

[dlineinvestor]

hmm at risk of going off topic "I said constructive not sarcastic ... lol
Take some "Ritalin and stay on topic please, but your input greatly appreciated.
SKC,
I checked out Iguana Spark and Paritrade loved Iguana very quick with everything hotkey based.
Wish I had one of those machines worth a mint now most likey

A real game changer "winning lotto

 

[DeepState]

"next big thing ... I don't see it that way I've know about it for a while now. But feel free to add something constructive.

Looks like only a small % of ppl on this site use it. Still very early days ... but was watching it with the DAX saw a couple of things that made sense.

Prints at "before ask and before bids bids.
Block orders
Speed of tape ... still heaps to learn !

Took some trades with it, surprised me in some cases.
It will take a while being self taught ... always does. Couple of good sites I've found if any one is interested.

So let's push the envelope a little further. Moving from Level 1 to Level 2 provides additional depth which you perceive to be valuable. I can confirm that it is valuable to some. For example, HFTs who adopt machine learning methods by the tick deploy their stuff on the basis of this information in part. It was a game changer more than five years ago. The whole pattern of trade has changed and they are a very large part of turnover. They don't use the sites you are talking about which makes this seem early stage. It is mature. The game has already changed.

TH and SKC have more or less intimated that more data is only useful if you can actually harness it. Otherwise, it is just more data. The downfall of this is, when you have more data, the tendency to datamine or otherwise see patterns in it that are not meaningful grows with it.

This is a well known result:



The use of this data is well worn and already very widespread. More data without a meaningful edge at this level will yield overconfidence in general and also unleash an additional barrage of cognitive biases that may cloud judgment. Beware. More data can be worse than less data. Goldilocks (1837).

 

[Joules MM1]

So let's push the envelope a little further. Moving from Level 1 to Level 2 provides additional depth which you perceive to be valuable. I can confirm that it is valuable to some. For example, HFTs who adopt machine learning methods by the tick deploy their stuff on the basis of this information in part. It was a game changer more than five years ago. The whole pattern of trade has changed and they are a very large part of turnover. They don't use the sites you are talking about which makes this seem early stage. It is mature. The game has already changed.

TH and SKC have more or less intimated that more data is only useful if you can actually harness it. Otherwise, it is just more data. The downfall of this is, when you have more data, the tendency to datamine or otherwise see patterns in it that are not meaningful grows with it.

This is a well known result:

View attachment 60371



The use of this data is well worn and already very widespread. More data without a meaningful edge at this level will yield overconfidence in general and also unleash an additional barrage of cognitive biases that may cloud judgment. Beware. More data can be worse than less data. Goldilocks (1837).

the challenge is as always, does the traders technique warrant more data to refine any edge they might have

in most cases the poster is divulging a lack of technique thinking that more of someone elses "expertise" changes their own game

 

[dlineinvestor]

So let's push the envelope a little further. Moving from Level 1 to Level 2 provides additional depth which you perceive to be valuable. I can confirm that it is valuable to some. For example, HFTs who adopt machine learning methods by the tick deploy their stuff on the basis of this information in part. It was a game changer more than five years ago. The whole pattern of trade has changed and they are a very large part of turnover. They don't use the sites you are talking about which makes this seem early stage. It is mature. The game has already changed.

TH and SKC have more or less intimated that more data is only useful if you can actually harness it. Otherwise, it is just more data. The downfall of this is, when you have more data, the tendency to datamine or otherwise see patterns in it that are not meaningful grows with it.

This is a well known result:

View attachment 60371

The use of this data is well worn and already very widespread. More data without a meaningful edge at this level will yield overconfidence in general and also unleash an additional barrage of cognitive biases that may cloud judgment. Beware. More data can be worse than less data. Goldilocks (1837).

"RT
A very insightful post thank you. I will use this post to address other posts if you don't mind.

Allow me to make a few points clear. Something that might even help others sleep better at night
I am looking into using level 2 at the moment, I have no prior experience.
I am going to teach myself as much as I can
I like the potential it can offer a trader
I will continue to learn about it until such a time I find it of no use (if that happens doubt it)
I do not think it is the "holy grail

 

[dlineinvestor]

the challenge is as always, does the traders technique warrant more data to refine any edge they might have

in most cases the poster is divulging a lack of technique thinking that more of someone elses "expertise" changes their own game

To generalise "In most cases but to be specific in "my case I'm looking into L2 for interest and comparison. I'm also looking into options trading
If financial markets interest a person they will explore.

 

[Trembling Hand]

To generalise "In most cases but to be specific in "my case I'm looking into L2 for interest and comparison. I'm also looking into options trading
If financial markets interest a person they will explore.

What" instruments and what time frame are you looking at "trading with "L2? If you "haven't seen it before "what have you been trading "and what data have you used?


"
"

 

[Joules MM1]

To generalise "In most cases but to be specific in "my case I'm looking into L2 for interest and comparison. I'm also looking into options trading
If financial markets interest a person they will explore.

to contribute constructively to the thread; you could divulge some of your trading techniques, stratagem and planning so newbies could see how adding more data streams would enhance or refine what you already do

specifically, that is

 

[Joe Blow]

Folks, I am trying to salvage this discussion and I am asking for your co-operation.

Firstly, can we please stop the petty squabbling? It is completely unnecessary.

Secondly, can we get this thread back on topic?

I have removed a number of posts but if I go back any further I will have to remove a number of additional posts that don't deserve to be removed but unfortunately quote one or two that probably should have.

So can we please move forward in a civil and constructive way? I don't want to see any more posts containing personal attacks or insults.