TRADING TIPS

Can You Trust the Data?

Hubert Senters here. Got another question from looks like Russell. What is your opinion of Level III data vs Level II? As far as being able to see where the big orders are which may show a support/resistance levels. It’s ok. It depends on your style like if you’re micro intraday super duper real instantaneously fast scalping it’s useful. If you’re not doing that stuff it doesn’t really matter. Like if you’re going to get Tesla and you’re going to hold it for three days. A support level on III, IV, V or level X whatever the level. The depths of markets is telling you it’s not going to really matter in a couple of days. I have also heard about Level IV data. I have heard that some of these are fake therefore misleading information. Now, the bad thing about depths of markets is with thin markets you can manipulate is not really the right word because you can’t really push it far very much. Like in a thin market like in a gold you can potentially take 8 to 10 contracts in the overnight session. And you can push that market around a little bit. Now, you’ll be one of the only buyers. You’ll also be the one of the sellers. So you’ll be buying from yourself and selling them to yourself at a higher price. But there’s people that are participating in that market. You can potentially show that you want to buy one and get a fill on 10. I call it mental masturbation level II and level III in depth of market. Like figure out what you want at what price and do that. Don’t worry about so much what everybody else is doing. Worry more about what you’re doing and waiting for your setups and executing your plan as close to perfect as you can. And you’re never going to get perfect. But I really don’t worry about what other people are usually doing at that point. Unless I’m just micro scalping really quick. And then it’s just me getting a pin point accurate area where I want to kind of jump in and jump out. Hopefully that helps you. I will be speaking at the Wealth 365 event this Friday. I will HYPERLINK you to the registration page. Good luck. Hope it helps. See you on the next video. Hubert.

1 Comment

  1. Khaliel Rasheed

    very effective and educational commentaries.Precise and to the point.Thank you.

    Reply

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