Questions tagged [level-2-quotes]

The tag has no usage guidance.

Filter by
Sorted by
Tagged with
0
votes
0answers
20 views

What is the disadvantage for trading stocks with access to real time data for only one exchange (Webull on Nasdaq)?

There is no realtime data for other exchanges like EDGX, ARCA, BATS, etc for Webull. I'm a bit concerned about this because if were a scalp trader, I would want good execution when reading the level 2 ...
0
votes
1answer
79 views

Level 2 Ask Price

In the market depth image shown, watching in real-time, I noticed this behavior. The ask volume (260,000) wouldn't change even though transactions on the right kept hitting the ask price in volumes ...
0
votes
0answers
57 views

Practicalities of pre-market trading

I was interested in pre-market trading and see that Nasdaq for instance has some activity from 4am (hours in the fig below are shifted to GMT+2, 7 hrs ahead, as I live in Israel). The stock shown ...
4
votes
0answers
130 views

Live market data confusion

I have been exploring different data packages for a while and I learned that simply level 2 means top of the book (best bid/offer) for a specific exchange. In order to see other “worse” bids and ...
2
votes
1answer
339 views

Why doesn't every successful trade appear on the Level 2 order book?

I have noticed that not every successful trade appears on the Level 2 order book. Particularly for illiquid shares. Take the example below, where the book is filled with Market Makers. A lot of the ...
1
vote
1answer
449 views

What exactly are Level 2 quotes, and how are they related to the limit order book and "market depth"?

I am trying to understand the definition of "Level 2 quotes" and their relationship to the "limit order book" and "market depth" ("depth of market"). I have ...
2
votes
1answer
251 views

What are the risks of placing limit orders on illiquid securities without knowing the Level 2 quotes?

I only have access to Level 1 quotes (best bid and ask) for some illiquid securities. Suppose I place a buy limit order on such a security based only on the Level 1 quotes. What are the risks I could ...
5
votes
1answer
13k views

Level 2 manipulation: types and how to spot

I've heard in quite a few trader interviews and trading videos to be wary of manipulation tricks used in Level 2 (Depth-of-Market [DOM] and Time-of-Sale [TOS]) to deceive "retail" traders, ...
0
votes
1answer
100 views

Do level 2 quotes help a non day trader?

My broker is trying to sell me expensive data packages that show level 2 quotes. If I am not a day trader and my minimum holding period is 3-4 days, do I get any advantage by purchasing level 2 quotes?...
1
vote
1answer
635 views

Difference between limit order book and level 2 quotes

Is there any difference between 'Level 2 quotes' and 'Limit Order Book'? Are they different words describing the same thing? i.e the buy and sell orders that are queued up with different market makers ...