|
PureBytes Links
Trading Reference Links
|
A.J.
This is what I found also -- using my normal technical analysis techniques
in TS, I was much better able to find viable trades, but in this scenario I
could send my orders in via pony express and didn't need L2.
So now I'm really confused! What's the point in having a $3000/month L2
setup (cheaper now, I hear) if there's no advantage???
_____________________________________
At 11:03 PM 8/29/98 -0300, you wrote:
>Ron Augustine wrote:
>
>> Question: How do you know when it's REAL and when it's MEMOREX??? (and
>> please don't say you need to be psychic :)
>
>The best advice I can give you here is this: If you're trading with such a
>technique, you are going to find yourself messing up a LOT of exits. I'm far
>from an expert in reading nuances in MM action, mostly because I have found
this
>sort of thing to be highly detrimental to trading. In fact, I've found that
>even watching a L2 screen while in a trade causes me to be tempted to make
>stupid mistakes. Sticking to charting, which ignores MM movement, and attempts
>to smooth out intermittent price fluctuations, is the best way to avoid getting
>shunted around by this stuff. Provided your technical skills are sound, you
>should be able to benefit on balance without getting "fooled" by any of this.
>This is not to say that L2 action isn't useful, but the tendency is to put too
>much weight on intermittent MM action, which must be avoided.
|