Level 2 data

blinko

Hi does anyone here use Level 2 data for the stockmarket ? is it worth it and how much do they pay ?

thanks

Loughton_Monkey

Quite expensive. Gives you 'live' access to all the buy/sell 'offers' out there. With shares like Vodaphone, it moves so quick you can't see what's going on.

With the smaller shares, it provides entertainment to watch the market makers "Tree Shake" where they are sitting there with an inactive share bid £1.35, Offer £1.50. When they feel like a laugh, they lower the £1.35 to 75 pence, grab your shares (that you bought for £1.40, and had on 'automatic stop loss' of £1.00), and then they shove it back up to £1.36 and £1.55.

Just their little way of buying your shares cheap. Some other idiot will come along before too long and buy them at £1.55 because they think they are on the way up.

I used to subscribe for a couple of months, at around £25 a month. Absolutely not worth it. Theoretically of value to 'day traders' but in practice a bit of a chocolate teapot.

blinko

thanks bdudy, one thing that annoys me is i really like advfn monitor and i keep on getting timed out which is annoying as i really like there data but i dont think its worth 12 quid a month !

its just annoying the only way to get live prices you have to pay for it,

has anyone tried moneyam.com interface is that any good

cepheus

There is free one for US stocks here if you are interested

http://www.level2stockquotes.com/level-ii-quotes.html

I think you can get a free trial UK one

http://www.stockmarketlevel2.com/free-level-2.html