Anyone know of a site or book that can break down how to understand Level 2. Like how to find the ax and understand how the MM's are moving and all?
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the complete idoits guide to day trading like a pro.. read it.... great book... gives u a great base to start understanding day trading / fast and simple.. to the point
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posted
reading level 2 is almost worthless, a lot of the visuals walls etc...are FAKE. It is unreliable, you will hear level 2 resistance but that is crap.
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quote:Originally posted by keithsan: reading level 2 is almost worthless, a lot of the visuals walls etc...are FAKE. It is unreliable, you will hear level 2 resistance but that is crap.
I day trade and use L2's all day long.. If there are 5 MM's stacked on the ask it isn't gonna move 80% of the time.. I am not trying to fight, but I see it everyday.. But also good point on readin L2's will lead u to riches.. nothing is a sure bet even if the L2's are thin and look prime.. price can still sit or drop..
best advice don't listen to us and just read some books..
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andy, I see those stacks fall all the time, on both bid and ask. Now if they happen to be on a resistance point, different story. I've seen them disappear, before the stock even got to the price....they don't have to be anywhere, if they dont have shares to sell, they just have to leave, very early or last minute.
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very true... but for the most part it can go either way.. I have sat on many that have shot up in 5 mins and I made a grand or in three hours they didn't move... but it is nice to see what the MM's are doing.. also I think he is asking more so for day tarding.... I think u play real stocks.. lol I am into the turds.. pump and dump baby..
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posted
you also have to keep track of WHICH MM's are where...some of them disappear quickker than others...GNET can really handle a lot of traffic and NITE on the ask all by hisself can stop anything...it's just head-games...
intraday RSI is helpful...nothing is ever the same all the time...
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or just a topic post with Ktrain's name behide it.. lol damn cult leader!
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quote:Originally posted by glassman: microcptrde chart montage is really L1.5... and YES it's important to count the trades...
what do ya mean count the trades glass??
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I play pumps and anything better, try to stay away from dumps.I'll buy anything if it'll bounce,pop,run,move etc....just bought WLSF its a POS should move on monday though.
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keith check out PDVN... should run for a few days next week..
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posted
see how many shares the MM's are buying and how many they are selling... keep a running tally.... volume is only half the story...the other half is which way the power is moving... RSI is also an indicator of this....(but not as good as watching the trade list) it's all those in between bid/ask trades that get me peeved...can't tell what the sneaky bastages are up to...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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glass u mean the trades that show up on the montage but not on my t&s for scottrade?? those are all MM trades?? help a kid out.. I love learning..
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posted
I had a good week last week without level 2 only had one loss. My laptop crashed and at work I used it outside of our firewall so I could see level 2. If microcaps L2 is any good when it comes out. It should work behind our firewall at work because it works now. But there is supposed to be codes MM's send and ways to figure out what they are thinking like 500 uptick and stuff like that. That is what I am trying to figure out. There are supposed to be some stocks that MM's want to see run up and there are ways to see it once a person understands whats going on. That is what I am interested in finding out.
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lol nah he has the 500k for sale only @ $1 a share.. he can't sell them for less... also they just had three PR's come out after hours friday.. sales and everything are way up.. the dip came just from a fear dip.. nothing with dilutin or bad buisness.. the o/s is down 10% since this time last year I believe it said.. they had a major holder 10% of the company buy another million shares are the open market while it was droppin..
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i work on picking 50% gainers that you don't have to be too quick on the trigger either way on....
i actually read the filings bad filings? i generaly don't post it...
congrats on yer success by the way..
dardog and i have/had different approaches.. too bad he left, but YOU HAVE come on strong...
anybody who isn't happy with 25% in a week is crazy....that's what i TRY to offer people who don't want to buy the second i yell.. you guys are into buying instantly--that's fine if that's yer gig... i'm not always right, but nobody else is either..
i see the same top400 list as you do, but i don't yell till i check the share structure and the lates PR's
i don't post a lot of money makers cuz they are just dilution plays..no big deal, just not my gig...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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respect.. i usually do just the runners unless I really like a bottom play.. then I might spend a day on her and see what she can do for a swing..
here I will take 25% anyday!!!
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im no dardog.......that is who i learned from, he is still king at the runner's but im tryin' to catch up........lol.......it makes for a damn fun day, playin' fast ........i love to gamble.....so this is right up my alley.......
-------------------- "IT'S NOT LUCK IT'S DAYTRADIN'"
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quote:Originally posted by keithsan: ANDY the stock dropped from 1.50 to a 52 week low about a nickel, THAT WAS FEAR?
doubt it, let me know when it hits 1.50 again and i'll kiss my own A$$ goodbye.
will it bounce, mabye, just last week it bounced from .071 to .13 so not a surprise but its a hot potato, no one wants to hold.
lol come on baby!!! I am all about risk.. honestly no one has any idea why it dropped.. I have called the company and talked to other holders.. only thing I have been told is it will go back up and very fast.. I am siting on some shares gonna see how she plays out next week.. if it hits I will PM with the gians.. lol
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posted
I wouldn't be surprised if someone tries to run it, and if they do wouldn't surprise me if i played it.
other than that its a pos, i told you why and since that day, its been high volume red. believe what you will. and don't PM me with no nickel t0 .08 cent game. I've already said that can and will be done on this one. come with a 2/3bagger and i'll talk.
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I wouldn't have bought into PDVN, but I went through all the sec filings and found out that the PR's were due.. nothing has changed other then everything is 100% better since last year.. so not risky if ya ask me... but I know some ppl won't even buy into a stock under .50
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
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quote:Originally posted by keithsan: I wouldn't be surprised if someone tries to run it, and if they do wouldn't surprise me if i played it.
other than that its a pos, i told you why and since that day, its been high volume red. believe what you will. and don't PM me with no nickel t0 .08 cent game. I've already said that can and will be done on this one. come with a 2/3bagger and i'll talk.
lol will do.. i could careless about a nickle jump.. lol it is gonna bag big...
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
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"Do I come to where you work and knock the license plate out of your hand?" BIOTCH!!!!!!!!!
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
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