RE: Question Level 211 Mar 2021 15:41
Roly - in same position as you. Don’t currently use L2 yet, but some guys here do.
These are my thoughts currently based on what I’ve read up
L2 is a definite adavantage if day trading or doing short term flip trades as it will help you gauge markeet depth, appetite bid/ ask And sentiment / momentum on the day to judge net Entry or exit price. But you should be supporting this with some charting prowess as well to determine when best to use it for,your portfolio, else it can consume a lot of your time looking at it all day
If you r portfolio strategy is more medium to long term hold and trying to get value entry points, it won’t be as crucial in my opinion than using charts and fundamentals. It may help an extra 10% to judge best entry exit possible , but amount of dedication and effort involved is only possible if you do the full time as it can take a lot out of you imo and if you are looking at gains over period of week and months it won’t make a huge difference in my humble opinion
If you. Go to YouTube there are lots of traders on there that give their view on L2s.But it mainly boils down how intensely you want to trade and invest and your general trading Strategy.
But sure some guys on here who useIt can give Some first hand experience