last two days i did not have any internet,today i traded from hotel chopenhagen but took a loss
Summery -312
Saturday, February 2, 2008
Wednesday, January 30, 2008
Tuesday, January 29, 2008
What is level 1 & level 2
Level 1 means where a trader can see the bid & ask price & the size. A trader can also see the last price & last size.
Level 2 is more detail ,a trader can see the highest bid & size, lowest ask & size.
Level 2 is more detail ,a trader can see the highest bid & size, lowest ask & size.
On the left we can see open buy limit orders which is called bid, starting with the highest price. On the right we can see the ask prices, which are open sell limit order arranged starting with the lowest.Next to the bid & ask price we can see the size .
Order Types traders use:
- Market Order - an order to buy or sell a stock at the best bid or asks price. A market order will get filled for you fast, but you might not like the price! By then you have no choice but to take the price and hope your day trade is heading in the right direction. If the market is moving fast and you simply have to get in, sometimes a market order is the only way.
Limit Order - an order to buy or sell a stock at a specified price or better. This is the day trading order of choice for day traders and indeed traders of other types..
Stop Order - an order that becomes a market order when a specified price is reached. This order mostly use to protect a day trading position from incurring larger than acceptable losses . A "buy stop" order is placed above the current price and a "sell stop" order is placed below the current price.
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