I'm very new at trading and I screwed a little but on a stock last week. The stock, ADPR, went up like crazy on Friday. I wasn't looking at the Level 2 Quotes for the stock so I wasn't able to follow the price changes. Actually, at the time I didn't understand what the Level 2 Quotes are. Actually, still don't.
Can someone explain to me what exactly are the "Level 2 Quotes" and what is the best way to follow them? I know allstocks.com has some places on this site to follow them. Would you recommend one of those?
Thanks for any help anyone can provide. SA
Posted by zo on :
I can help you out more if you talk to me monday moening while the market is open...Contact me then through email...fzhowandai@yahoo.com...But as for now I can tell you what is gonna make you a better investor...Get The biggeners guide to investing by toni turner...It is 150 pages long, but will be the best move you ever made...Read it!...Good luck...Farhad...
Posted by kiknazz on :
I'd have to agree with zo on that one...
Just recently purchased the book, and it's great. Lots of level 2 info as well. Picked it up @ chapters for 25.00.(15.00 us). Enjoy.
"Beginners's guide to day trading online".
gl hf
Posted by RestStop on :
I have read this book as well. It is a great beginners book that will give you a good basic understanding of the level II system, the basic laws of supply and demand on the market, as well as a brief description of how market makers think.
But be forewarned! The candlestick technical analysis is more directed to major NYSE or NASDAQ stocks more than it is directed at penny stocks. I have already found out the hard way.
Penny stocks move on hype, rumor, and news, very rarely T/A alone.
quote:Originally posted by kiknazz: I'd have to agree with zo on that one...
Just recently purchased the book, and it's great. Lots of level 2 info as well. Picked it up @ chapters for 25.00.(15.00 us). Enjoy.
"Beginners's guide to day trading online".
gl hf
Posted by seif_adam on :
Hi, thanks guys for your help. I think I will pick up that book. Sounds like a good start. Also zo I'll probably take you up on that offer and send you an email sometime. For now though, thanks very much for the advice.
SA
Posted by Machiavelli on :
I havent read that book by toni turner but i have ordered her Beginner's guide to short Term trading which someone told me is geared more towards swingtrading then daytrading ... but for daytrading im reading How to Get Started in Electronic Daytrading by David S. Nassar... it also explains Level II quotes as well as routing systems like SOES, SelectNet, SuperDot, & ECN's.. right now im reading about T/A (technical analysis).. if you dont know what a Level II quote does sounds like you shouldnt be daytrading for now and maybe swingtrade till you get either book and have read them.. i hope you haven't opened/risked a daytrading account for $25,000 (seem thats the minimum requirement for most brokerages for daytrading) without at least knowing basic knowledge like what a Level II screen is and does... anyways hope this helps...
[This message has been edited by Machiavelli (edited March 24, 2004).]
[This message has been edited by Machiavelli (edited March 24, 2004).]
Posted by mlove001 on :
Definitely agree with everyone else here. Two weeks ago I can honestly say I didn't know very much AT ALL about trading stocks. Based on a recommendation by Machiavelli I bought Toni Turner's Beginner's Guide to Short Term Trading... The books about 250 pages long and I'm almost half way through it already. It's very easy to read, and has a ton of useful information. I'm also reading an online book by Peter Leeds called Penny Stocks: The book, It's still just another learning resource, but it's geared more toward strategies for stocks under $5 ("Penny Stocks"). Also, there is a ton of good information on this site as well.... start reading!
Blues! Merrick
Posted by Machiavelli on :
Hey Merrick.. whats ur emaily addy? ill add ya to my email list and anyone else who wants to...
Posted by az20020 on :
can you add me to your list -- thanx jhgrr2 at aol.com
[This message has been edited by az20020 (edited March 29, 2004).]
Posted by Machiavelli on :
oki doki Az... i added ya to my email list. if you like you can email me anytime to chat about Trading.. my email addy is Lrsk2000@aol.com ...
Posted by mlove001 on :
quote:Originally posted by Machiavelli: Hey Merrick.. whats ur emaily addy? ill add ya to my email list and anyone else who wants to...
Hey man, here's my email: m_loveland9@hotmail.com. (anyone can use it, as long as I don't get a lot of junk LOL).
Blues! Merrick
Posted by Machiavelli on :
no prob.. Merrick... maybe ill only send jokes related to stock trading or cartoons lol .. other then that you and the rest are welcomed to email me about trading...