Yahoo or T212 prices?

L2 is where my knowledge and experience fall short. take your word for it then. thanks for the info, always good to learn something new

Essentially what we have is L1 where we only see the best ask and bid (the top row) and we can’t see the size.

L2 helps show support and resistance. It shows a list of buyers and sellers stacked up and at what bid and asks they are wanting to pay/receive and at what size. So you can see where the movement is going say if you have lots of buyers wanting to hit the ask or a seller wall preventing the SP from going higher.

There’s also L3 but that’s MMs for entering quotes, executing orders.

i’d genuinely want to dig deeper for this if i didn’t need the rest of my brain for my day job. these kinda statistics related things make me happy :slight_smile:

Most retail including myself will never need it, and most will never know or care what actually goes on behind the scenes.

To add to it the L2 can be bluffed and manipulated, it’s a bit like chess I guess. And spotting signs like splitting large orders into smaller chunks. There’s also signals using the size like “hold it here don’t let it go up”, “need more shares” etc

The key thing really is Time & Sales basically what are the trades and size that’s getting executed.

You might need to right click open image in new tab to see :face_with_monocle:

that’s my weekend reading then ha!

i will read before i make another comment on being annoyed at horrible execution delays on pie orders :confused:

@phildawson what app is this a screenshot of?

unfortunately its US based, but you can be UK and look a the order book on US stocks. 3 mths free, then its $2 a month I think.