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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: William G. Murray who wrote (4894)	1/18/1999
From: Trader J	Respond to of 56535

William: Welcome to the thread. Great to have you and I hope you will stick around and contribute. During the day I keep a number of things open depending on whether I am at work or at home. I always keep my Schwab account up, the quote.com live charts app to track the NAS & DOW, a Real Time Quote system such as Thompson's RTQ, and usually two SI threads open (This one, and TokyoMex's thread)...although recently I have just kept this one up. I usually identify those stocks that will be in play before the market opens on a current day and those are the ones that I monitor. I also leave myself open to momentum plays that reach the Tmex thread or from any other source, such as CNBC or Bloomberg. I have never used Lvl II and I don't know how long it will be until I do. I haven't needed it thus far and I would argue with those that say that you cannot be successful without it. I do agree however that if you plan to trade many, many times a day and scalp teenies (1/16ths), you MUST have it as it is imperative to find out who is on the bid/ask and where the support is. But, being a position trader with day trader tendencies I have not needed it. I used to trade very often up until 1998 but I took the first 7 mos. of 1998 off except for a few tech trades here and there. I still do not see the need for lvl II yet. And believe me when I say when I feel that I am missing the boat, I will get lvl II immediately... until that time, I will continue to do the work necessary and hopefully continue to have good results. I don't know why it would change now. I currently use Schwab but will be changing to Brown and Co. If I were to use a Lvl II service right now I would most likely choose MB Trader as I have heard very good things about them. Hope this answers your questions. Welcome again. TJ