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Worth understanding why buy sell volume is irrelevant and why if you have access to DMA the buy/sell prices are reversed.
How Level 2 can help your trading
Understanding Level 2 will help you spot trading opportunities and improve the timing of your trades.
Dominic Connolly, author of The UK Traders Bible says "to trade without Level 2 is like trying to drive blindfold".
When you deal via your stockbroker, you buy at the offer and sell at the bid (that is, you buy at the higher price and sell at the lower price). Brokers buy at the bid and sell at the offer. That's one of the key ways they make money. Some brokers allow private investors to do the same through Direct Market Access (DMA). Becoming familiar with level 2 is the first step to being able to use DMA.
However, just having access to Level 2 and an understanding of the price formation process, can help you to time your trades better or get a better price from your broker (dealing inside the spread).
Dominic Connolly, Author The UK Trader's Bible
By watching the prices and volumes of shares available on the bid/offer (market depth), by seeing how some market participants try to manipulate the order book, you can gain an insight into the price formation process.
As you watch buy and sell orders being filled, and new orders being added, you can see the pressures on the bid and offer and where order volume is creating support and resistance. With practice, you'll learn how to improve the timing (profitability) of your own trades. Even for longer term investors, Level 2 can help you make significant savings.
For less liquid stocks, level 2 allows traders to see which market makers are showing the most interest in a security, to identify the patterns for each market maker, and to see how liquid a stock is at any point in time.
You'll also be able to track price action during the opening and closing auctions. This can be a great time to trade at or near the day's high or low. Your broker may allow you to trade during this period.
For short-term traders, there are a host of trading strategies that go with Level 2 access. We recommend "The UK Trader's Bible" by Dominic Connolly.
Learning how the order book and auction process works will give you the necessary skills for Direct Market Access (DMA) - available from certain brokers. DMA enables you to participate directly with the market - entering your own buy and sell orders (i.e. you can buy at the bid and sell at the offer).
Well said Janus, I don't believe his fantasy shares portfolio, for one reason, he makes no comments on any other share discussion boards only ITV, a company that he holds no shares in, his only reason for being here is to discredit Dame Carolyn McCall. His hatred towards her is unhealthy to say the least. I strongly suspect that he bet the farm in a company that Carolyn McCall was involved in and lost his cash, so he now blames her for his financial mess that he now finds himself in. Bitterness can eat away at you if you let it, he should get some counselling to try and come to terms with his loss and take responsibility for his own actions.
Tomtit aka Tomlondon now know as BournemouthTom - same old tune based on the predicament you find yourself in due to previous heavy losses in both financial and personal terms. You need to give up. I doubt anyone believes your so called extraordinary gains so why don't you just stick to facts and figures and not the ramblings of a bitter irrelevant person. Despite support given to you as TT you continue with your fantasy world. Just stick to coffee making.
Do we have ITV employees here trying to bolster the share price? Paid employees who are only putting a positive spin on ITV results and news releases? Trolling small investors into believing in a board and CEO who have repeatedly failed to deliver?
When a serious investor puts up an exit strategy for ITV investors burnt by the failings of this company's leadership they just mock and go on the attack. Fast forward 12 months and all investors sat on losses here could have benefited from the recovery of other FTSE listed companies and returned to profit.
Alas too many have followed the ITV stooge who told them to hold or risk losing out on a potential takeover which has failed to materialise in a decade.
Judge posters by the results on their investments. A certain self proclaimed expert here is still down on his/her investment, here. Lost out on the best market conditions in our lifetime by sitting still here.
I bought RDSB at £9 to £10. They are hovering around £18 and this Thursday will publish exceptional results and most likely a further increase in dividends. Potential of £20+ and a dividend of 10%+ by comparison to this share where a full recovery to pre covid levels and a dividend are still a long way off.
Then take it a stage further and your stock market crash prediction in the media.
"Decades ago, manipulators had to publish hit pieces in the newspaper. Now all they have to do post a few comments on a stock message board. Decades ago, they had to come up with elaborate lies worthy of being published in a reputable newspaper that investors would take seriously. Now all they have to is make an account like SuperBullishInvestor, and post a comment like, “This stock is poop. Glad I sold it.” The only way to protect yourself against this manipulation is to learn how to spot it."
The discussion boards are full of trolls, they appear on any underperforming shares discussion board advising shareholders on where they went wrong, trying to get them to sell their shares. We have one on this board that keeps returning under a new alias after he/she keeps getting banned by LSE. Ring any bells...?
https://www.griproom.com/fun/10-signs-your-stock-is-being-manipulated