Hello PSL Subscribers!
I’m happy to report that I now offer Level 2 quotes with our advanced PennyStream package. I’m also offering $5 off per month by using coupon code: 5level2
Are you a seasoned, more experienced trader or simply looking to know what the pro’s use to get a better understanding of how a particular stock is being traded?
Level II can provide enormous insight into a stock’s price action. It can tell you what type of traders are buying or selling a stock, where the stock is likely to head in the near term, and much more. Here we explain what level II is, how it works and how it can help you better understand open interest in a given stock.
What Is Level II?
Level II is essentially the order book for Nasdaq stocks. When orders are placed, they are placed through many different market makers and other market participants. Level II will show you a ranked list of the best bid and ask prices from each of these participants, giving you detailed insight into the price action. Knowing exactly who has an interest in a stock can be extremely useful, especially if you are day trading. (For further reading, see our Electronic Trading tutorial.)
The must have tool for trading Penny Stocks in real-time.
Save $5 per month with coupon code: 5level2