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The 1 stock market secret pros know and you don’t.
What did Apple do today? Were you able to follow it with the most up-to-date price data or are you still living like they did in the bad old days.
In the old days a call to your broker would give you this information and you might buy or sell a stock from what they told you on the phone.
You could of course wait till the next day and read it in the newspapers.
Today no one would dream of trading like this today.
Even back then, the Pros had the edge. It was called the Ticker Tape and they would stand by the machine and “read the tape” so they would be the first to know if something was happening to a share.
Without ticker tape, you simply couldn’t trade and make money.
Then along came computers, where ticker tape and phone calls became obsolete.
If you didn’t have real time prices you were in the same fix as a trader without a ticker. Level 1 became the gold standard for trading.
Most people think that it still is the gold standard, but they are horribly wrong.
Real time is as obsolete as a ticker tape.
Pros don’t trade watching “real time” or the crippled versions of it offered for free by search engines.
They use Level 2.
That’s right, they have a generation of market information that makes “real time” look as antiquated as reading prices in the newspaper tomorrow!
Here is an example of Level 2
How do you feel about the chances of someone making money trading now when they have this:
Whilst the Pros have:
You can get crippled real time information on search engines FREE. What a surprise! Trading the stock market is just like a poker hall, all novices are VERY welcome.
It’s no surprise then that Level 2 is pricey, Pros on a Bloomberg terminal will spend thousands a month on their setup. That’s tens of thousands of dollars a year.
But then the rewards are high.
WAIT it’s not all bad news!
There is hope.
Private investors can get Level 2 and stock markets like the Nasdaq and NYSE let ADVFN offer it at a fraction of the price Pros pay.
There is some justice.
It is no surprise the market isn’t making a song and a dance about wanting you to tool up with Level 2.
The pros would prefer you to bring a knife to a gunfight.
Don’t make that mistake.
Find out more about Level 2 and how it works here.
