Can't beat free level 2 Data
Why isnt Level 2 data dispersed freely all the time? Is it because the information being widely dispersed would lower the Nasdaqs profit percentages a couple of points? Nasdaq has a net income of over a billion dollars a year which it could consider necessary in order to maintain its talent level but seems a bit excessive for that. Or is charging for the data necessary in order to have a little fall back cushion in the case of a negative unforeen event?
Two stocks that could have breakouts this week:
$OneMedNet(ONMD.US$ .51 is where it ran big from last time and it is very close to that price which means shorts could be triggered to cover any day now.
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munwaii : So is now the time to wait for the rewards?
Mcsnacks H TupackOP munwaii: Going to be a great week.
Ultratech : it's worth subscription if you make extra bank off it....
Mcsnacks H TupackOP Ultratech: But that's not a guarantee. And using that data actually increases your market risk. So it's a terrible deal. They are guaranteed to make money and I'm lowering my chances of making money by using it. This is because Level 2 data is only useful to high-frequency traders(Daytraders), technical traders or High volume traders which retail investors aren't high volume traders. Only 1% of Daytraders will be successful over a 5 year span. Only 13% are able to have consistent profits over 6 months. 72% ended 2023 with losses. Of that 28% that profited, .05% had gains over the $13,000 profit median.
90% of technical traders will lose over 80% of their funds 3 months after they start trading. The average "trading span" for a daytrader before he quits is 6 months.
I'm like a stock market "black swan."