I just recently started using level 2 quotes(started yesterday) and i am quickly becoming familiar with it. However, im a little confused about 2 things...
What does "size" mean on level 2? i know its not shares or trades, is it a unit of measurement for soemthing? I dont quite understand, can someone explain?
Another thing is that i always thought that a strong ask and weak bid would indicate sell.. and strong bid and weak ask would indicated buy.. but it seems that i have to look at the time and sales box and see which side is favored by the buyers.. is this what you all do as well?
All and any help is apprecaited, thanks