Yes your right Boy.
I've just got them to switch it on for me to have a look at and its just showing a DOM screen which I believe is just showing the best 10 limit orders above and below the current price.
I dont think theres much to gain from it unless your trading with size.
I've just got them to switch it on for me to have a look at and its just showing a DOM screen which I believe is just showing the best 10 limit orders above and below the current price.
I dont think theres much to gain from it unless your trading with size.
Well its just confused the hell out of me.
As the Dax was falling to 3600 you could see some size on the bid at 3600, over 250 contracts, so you might read into that there might be some support. Some large trades went through at 3600.
it went through and down to 3560 so I cant see how you could use it to forsee possible support/resistance or am I reading it the wrong way round.
As the Dax was falling to 3600 you could see some size on the bid at 3600, over 250 contracts, so you might read into that there might be some support. Some large trades went through at 3600.
it went through and down to 3560 so I cant see how you could use it to forsee possible support/resistance or am I reading it the wrong way round.
Blash,
when u said L2 in Dax that was the first i have heard about it as well- I think the nearest thing u can get , is like usay the volume- unfortunately not many people here trade the dax here by the looks of it, so not too sure how much info u will get.
Sudden volumes on a tick chart ( around 100/200 contracts), could prove short term supp/resis- but that is only general info............
when u said L2 in Dax that was the first i have heard about it as well- I think the nearest thing u can get , is like usay the volume- unfortunately not many people here trade the dax here by the looks of it, so not too sure how much info u will get.
Sudden volumes on a tick chart ( around 100/200 contracts), could prove short term supp/resis- but that is only general info............
Right.
Dax trades on Eurex, the Exchange publish the best 10 bids/offers and associated volumes...It's up to your broker whether they distribute this information to you and given bandwidth considerations many just limit you to best bid/offer. As an anonymous Exchange you won't get any other information (like counterparty) so using a cash equity terms like Level 2 is perhaps a little misleading.... Many Futures scalpers and spreaders use the Depth to help them see where size is building up - to counter that there are many (large) traders who will 'spoof' the market by showing large bids and offers with the knowledge it can be seen and may influence others. Another major advantage of being able to see the Depth is to take advantage of the Exchange matching systems - Eurex is First in First Out - if you're 'first' on a 3000.0 bid, your buy will match as soon as anything trades at that price...... if you're behind 250 lots, that has to trade before you get your fill, using the depth you can see where there are 'gaps' in the order book where you can get this advantage. In short, pro's do use the Depth of Market, but the only people who really allow it to influence their trading decisions are the short-term scalpers and spreaders who trade every few seconds/minutes.
Dax trades on Eurex, the Exchange publish the best 10 bids/offers and associated volumes...It's up to your broker whether they distribute this information to you and given bandwidth considerations many just limit you to best bid/offer. As an anonymous Exchange you won't get any other information (like counterparty) so using a cash equity terms like Level 2 is perhaps a little misleading.... Many Futures scalpers and spreaders use the Depth to help them see where size is building up - to counter that there are many (large) traders who will 'spoof' the market by showing large bids and offers with the knowledge it can be seen and may influence others. Another major advantage of being able to see the Depth is to take advantage of the Exchange matching systems - Eurex is First in First Out - if you're 'first' on a 3000.0 bid, your buy will match as soon as anything trades at that price...... if you're behind 250 lots, that has to trade before you get your fill, using the depth you can see where there are 'gaps' in the order book where you can get this advantage. In short, pro's do use the Depth of Market, but the only people who really allow it to influence their trading decisions are the short-term scalpers and spreaders who trade every few seconds/minutes.
