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Strategies & Market Trends : Trading For A Living

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To: Rick Faurot who wrote (734)	7/6/1998 12:46:00 AM
From: Darren	Read Replies (2) of 1729

The more I watch (in Wolff's chat room) the more I realize that daytrading on L1 is not smart, to put it mildly. Works for him, but my feeling is it's inefficient. If I see 1 MM on the Bid, and 4 on the Ask, I'll wait a second or two and he would buy, because he didn't have that extra knowledge. On the other hand, there are times when 1 MM will move the market and I would be wrong to wait... My feeling about why he doesn't use Level II is that he has a hidden secret he will never document in his chat room or in his writings -- it's the clock.

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