posted
First, is there a really in depth link on charts somewhere? My Google searches weren't very good.
Also, I am learning the level 2, but I'd like someone with good level 2 knowledge to explain what trend should happen if the bids by the MMs out number the asks by about 2 to 1.
Lets say the 1st 12 bids are all size 50 and range from 1 at 0.0049, 3 at 0.0048, 2 at 0.0047, 1 at 0.0045, 1 at 0.0043, 1 at 0.0042 and 1 at 0.0041 and 3 at 0.004. The next 12 bids go from 0.004 down to 0.0001.
Now there are only 13 asks. 1 at 0.004, 3 at 0.0065, 1 at 0.0071, 1 at 0.01, 0.0106, 2 at 0.02, 1 at 0.07, 2 at 0.10 and 1 at 1.00.
I'll give my thought, but would like someone to support it or fix it. It seem to me there are twice as many buyers as sellers, thus the demand is great, causing the PPS to increase. Once maybe the 0.0064 and the 3 * 0.0065 are sold the PPs jumps to 0.0071, then to 0.01, etc. Am I correct?
Thanks for this help and everything I've learned just reading y'alls posts.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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posted
I guess, I am looking for a "school" to teach indicators, patterns, etc. as far as the charts are concerned. I'll try the stockcharts.com school.
The buy vs. sell. If there are 50 bids by the MMs and 25 asks, I would think that meant 50 to 25, 2 to 1. Looks like more MMs haves bids out there vs. asks. I might not be explaining it very well.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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I must be totally confused on the whole level 2 thing. I'm only paper trading now, but trying to understand the whole MMs deal.
Thanks for answering my newbie questions. How is old Cowtown? Ex-TCU here.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes. Posts: 1450 | From: TX | Registered: Feb 2006
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MMs deal? simple: they're guaranteed the opportunity to profit while also fulfilling their obligation to {tempt holders into selling} + {tease non-holders into buying}, ie, "make a market."
Ever go to big ol, giant flea market? Imagine a 1,000 acre flea market...imagine 5 guys in charge of all transactions...
lol, may not be *accurate* but should help you get the idea...
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