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

To: Dustin who wrote (7547)3/21/2000 7:58:00 PM
From: gaj  Read Replies (1) | Respond to of 18137
 
dust (L2) - that's absolutely true. i went to one *terrible* seminar about it in nyc, where the guy spent the first 15 minutes discreetly pumping his company and treating the class as if the people there had never traded a stock before. he then got offended when a few people left and one guy said "so, when are you going to discuss level 2?"

i've heard one of the other seminars was bad as well; don't know about roman's from mb trading...



To: Dustin who wrote (7547)3/21/2000 10:26:00 PM
From: OZ  Read Replies (1) | Respond to of 18137
 
From being at the expo last year, I can tell you one
subject that everyone wants to hear about. The Tricks of
Level II ie. MM head fakes, how to read it, etc.

I think a better alternative would be The Myth of
LevelII. The very fact that everyone wants to
know it (and that every commercial on CNBC touts it as such
a powerful secret and tool) should be the hint that it is
not what they say it is. Here is a million dollar piece
of advice for free:
With the exception of the person scalping for just a few
seconds to a minute or two, the only importance of level2 is
to micromanage entries and exits that have already been
decided by reasons other than level2 itself. Do not let
level2 shake you out of a trade. But the value of level2 is
extremely important when deciding how to execute in and out
of a trade. Based on that, I would never trade without it.

OZ


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