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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: aldrums who wrote (7441)	3/14/2000 10:29:00 PM
From: OZ	Respond to of 18137

Isn't L2 the closest thing to a preview of the future (what will be) you can get? The only future preview L2 is good for is about the next 5 seconds. Nothing is better at shaking one out of a trade. It is more for micro-managing the entrances and exits of a trade based on other criteria. OZ

To: aldrums who wrote (7441)	3/14/2000 11:15:00 PM
From: Cormac	Read Replies (1) \| Respond to of 18137

Mr. Ectomy - I agree with OZ and his post re:level II...IMHO it is more of a valuable *execution* tool (I am not a swing trader) IMO it is not and should not be used as an indicator. Briefly I look at Level II as a portion of the inventory (existing in a state of possibility) that time & sales and supply/demand must work its way through. I have been thinking about the prediction of some posters of the impending crash and or Bear market and that daytraders will cease to be - I exaggerate a little bit :)) I agree with Vadym (#7289) *yeah, market crash at some point, so what? Market still will be here after crash, nothing will change in general. Some will lose during bear period, some will win...* I really believe that daytrading will remain much as it is...company news, earnings reports, management reorganization, mergers and acquisitions, insider trading, micro-economics, macro-economics, interest rates, new products and technology, analyst upgrades and downgrades, rumor and rumors of rumors...this is the fuel the daytrading engine needs...there will always be plenty of fuel I know this is a simple view of the market and daytrading but I believe trading is about context and you match your style of trading to a certain level of relative/familiar context...certain styles require layer upon layer...just my opinion...this is a method (for me) to understand my trading and its relation to the market. Another simple analogy that I sometimes think about when I look at time & sales and Level II...The trading engine is running at high RPM's...without shifting thru the gears (pace) all that energy and power (volume) is not going thru the drivetrain (Level II) to the wheels (time and sales) and moving the car (stock) up or down the road (support/resistance and intraday highs/lows)...I know it is a little simple and has some holes in it...oh well, I am trying hehehe Sorry if some of you have heard all this before Cormac