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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Mare Britton who wrote (58103)	9/9/1999 4:02:00 PM
From: Tim Luke	Read Replies (2) \| Respond to of 90042

tim- if one were to invest in day or momentum trading tools, would level 2 be the single most important thing to get? What exactly does it tell you? Is it easy to interpret? I sense it would make a big difference, sort of like wearing glasses when you're near-sighted but I 'm just guessing.>>>> i will go over all this in more detail tonight...but what you get is the advantage of trading right off of your level 2 screen...you can see all the time and sales...where the market makers are lining up..but most of all you can get 2 second fills...your order goes from your PC to the floor and back to you... .with your discount junk broker you have to type in the order..submit..confirm..send....it goes to your broker then he routes the trade to the floor and the back to your broker and then back to you.....a fast moving stock has moved so fast in the time for you to do all this....it insane to trade like this

To: Mare Britton who wrote (58103)	9/9/1999 4:02:00 PM
From: kathyh	Respond to of 90042

mare, absolutely a level 2 trading system is essential... in my opinion... here is a tutorial tim gave me when i first started out that talks about level 2 and will give you some idea what it can show you... phactor.com also go to the home page and look at rt3 tutorial...

To: Mare Britton who wrote (58103)	9/9/1999 4:15:00 PM
From: HarryF	Read Replies (1) \| Respond to of 90042

Hi Mare (and thread) I've been day trading about 6 months now. I have an AB Watley Platinum Acct (w/level 2) and a Discover Acct. I would not even attempt trades like AMPD on anything less then a level 2 set-up with instant execution, real time charts, and being able to see the "real action" on the stock. Having said that, I must admit that the last 6 months have been a very expensive learning time for me. Level 2 is just another tool. The market is just the market (it doesn't care about you or me) There's only one thing that I can control: ME! and sometimes it's the hardest thing to do! I feel that only the last few weeks am I beginning to master my own emotions and actions. Good luck - and keep asking questions and learning from the wisdom & experience of Tim and the others on this thread.