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Re: Trading with level II and T&S
right
the tape is what ACTUALLY is happening. it cannot lie. it is what it is.
level II is simply (to a large extent) what market makers and institutions WANT you to think is happening.
you are correct about the market adjusting. there WAS an edge to level II watching (a relatively obvious one) so of course the market adapted.
heck, there was a big edge with the SOES bandits. needless to say that got taken care of
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