Level2 from Esignal and other types of views

[ipoppy]

Hi
I repost it again since I have send this question in wrong section.
I am subscriber to Esignal and I have started to focus more in Level2 direction. Can someone kindly explain what is the key difference between Level2, Regional, Total view and Singlebook? Which one is the best to look at. And perhaps someone will be kind to share some tips as well?
Thanks in advance

 

[amit1986]

-Level2 for NASDAQ stocks.
-Regional (best) for NYSE stocks. Also, Level2 does show the MM on NYSE stocks, but they'll always be far away from the action, so it's kind of pointless.
-Total View (I think) is a combination of Level2 and Regional all in one screen.
-No clue about Singlebook, but you can always google it and find out more.

 

[ezreddy]

-Level2 for NASDAQ stocks.
-Regional (best) for NYSE stocks. Also, Level2 does show the MM on NYSE stocks, but they'll always be far away from the action, so it's kind of pointless.
-Total View (I think) is a combination of Level2 and Regional all in one screen.
-No clue about Singlebook, but you can always google it and find out more.

Total View shows all bids/asks for each market participant whereas a typical level 2 only shows the best bid/ask for each market participant. So for instance, if UBS had the best bid of lets say 18.01 at a volume of 100 but also had a bid of 18.00 at a volume of 1000, then the normal level 2 would only display UBS at 18.01.

I would start off with paying for totalview which will also give you the ability to use the normal level 2 view. Use this for a while and see if you can gain an edge in your trading. If so, then it would probably make sense to opt for the premium open books that are available for NYSE and other participants. If, however, you really do not realize any more profit from using these services, then do not pay for the premium services. I like to view market depth just to know what levels of support are available, but never did quite learn how to trade using level 2. There were a few instances when everything did line up and I watched in awe as the hammer went from the inside ask to the inside bid and I made a dime, but those are few and far between for me and the premium services would have just been wasting money.

Good luck with this.