Level 2 can get you headfaked in & out of stocks faster than your $$ can hold out. I've seen many a trader waste months, years, only to finally learn that you have to study pro trading technics to become a successful trader. The level 2 is only good for NASD listed stocks and the mm are known for not supporting a stock only when you decide you want out. Or in. SOES trading is a sure way to lose. When you're right, they won't give you your shares or only a small % of them at a higher price, when you're right, you have the same problem getting out. You will do far better studying the stock you wish to trade, know which direction the market is trending short term & long term. Knowing how strong or weak your stock is in the industry group & watching the S & P futures, bonds & cash. Keep a eye & ear open for Greenspan, wars upgrades, downgrades, and of course Maria B. You don't need to waste money and valuable time to find out you don't need level 2. It's a suckers bet at best. You're better off using Schwab 500 team with good fast executions with their higher commissions than to spend a fortune in numerous in & outs charged to your account with crappy partial fills added in.
Mahalo, Terry |
