Level 3 and time/sales window

General
1

Hi,

@siva @nithin

I’m a developing trader and want to learn more about level 2 tape reading.
Can someone pls. share more information on this? Does any broker provide this feature in the context of Indian market?

Thanks in advance!

2

I guess u get level 2 already , do u mean level 3 ?

3

Oops…I got it wrong…let me change subject line…
Yes I mean level 3 and time/sales window…

4

By level 3 you mean 20 market depth instead of the 5 you get normally?

I don’t really know if 20 market depth is needed for that, but we have been working on something to make that happen to all retail traders.

Btw, check out the book - Reminiscences of a stock operator, Edwin Lefevre.

5

Yea nithin level 2 is already helping great for my scalper , level 3 will be awesome and 1st in india.(not sure if bloomberg has it in india , but even if they do they are not affordable)

6

Do you know any vendor that provides time and sales window for executed order alongside level 2?

Thanks.

7

You can check with vendors directly but doubt if they provide level2, but you can check with Fox trader and spider platforms guys, I think they provide this but not sure.

8

I have checked with spider software guys, they have time and sales window but not level 2

9

You will never be able to succeed as a lvl2 trader without shortcuts and you won’t be able to trade with the current system where the data stream is delayed by 0.5 seconds.

10

Okay. Shortcuts as in?
And why can’t that be fixed?
What you suggest?

Cheers

11

You need to enter and exit positions very quickly while watching the tape. To do this the broker as well as your internet must have a very low latency high speed internet connection with shortcut keys to get in and out of position. Expert scalpers in US have this kind of setup, they make thousands of dollars in matter of seconds just by watching the order flow feed. Scalping is not a simple thing, if you want to master that with nifty you need to master 1min or 30 sec charts with a third party trading setup, definitely not zerodha. Here is an example of Level 2 trade

1 Like
13

No plans to offer for currency. Only 4 instruments we have and current future are liquid enough for retailers.

14

when do you plan to introduce time & sales window, it’s an essential scalpers tool.

3 Likes
15

dartstock by upstox provide time and sales .