[brownsfan019]

Originally Posted by Soultrader »

The matrix shows bids/asks 4-5 levels deep. With futures, it is nothing like watching Level 2 market maker games but it is quite interesting when you see 200-400 lot bid/ask getting pulled away.

Soul - on my trading platform I have 10 levels deep on the YM. I understand that the CBOT offers 10, but some platforms only provide 5. Just an FYI in case that's of interest to anyone.

[dalby]

I have 10 too.

Ime (limited as it is), I have found that the sizes on the bid/ask are bogus a great percentage of the time. It's mostly to try to fool people.


I will look at the sizes as to where to place orders sometimes, but never to try to predict market direction.

Tape doesn't lie. the order book does

[Soultrader]

Originally Posted by dalby »

I have 10 too.

Ime (limited as it is), I have found that the sizes on the bid/ask are bogus a great percentage of the time. It's mostly to try to fool people.


I will look at the sizes as to where to place orders sometimes, but never to try to predict market direction.

Tape doesn't lie. the order book does

Totally agree. I never trust those darn Level 2. Just once in a while you catch something interesting .

Originally Posted by brownsfan019 »

Soul - on my trading platform I have 10 levels deep on the YM. I understand that the CBOT offers 10, but some platforms only provide 5. Just an FYI in case that's of interest to anyone.

Actually the CBOT offers 15 levels deep; at least that's what I see from my broker on the Dow contracts and the US Treasury futures...

Interesting thing is that the TS matrix (or at least the T&S and charts) are actually faster than the order matrix from one of my brokers - go figure.

[brownsfan019]

It can get real interesting in premarket times on the indexes. Here was one example on the YM this morning.