Short-Term TSLA Price Movements - 2014

[pz1975]

Does anyone follow level 2 stock quotes? If so, what is the best free site for them? My broker doesn't have them and I found one site, but it is hard to follow. I'd prefer one where the bids and asks are shown in a graph-form for ease of viewing.

 

[hershey101]

Does anyone follow level 2 stock quotes? If so, what is the best free site for them? My broker doesn't have them and I found one site, but it is hard to follow. I'd prefer one where the bids and asks are shown in a graph-form for ease of viewing.

Your not going to get good L2 data for free... That type of stuff is very valuable, and can cost upwards of a few hundred dollars a month for an active feed.

 

[kenliles]

Does anyone follow level 2 stock quotes? If so, what is the best free site for them? My broker doesn't have them and I found one site, but it is hard to follow. I'd prefer one where the bids and asks are shown in a graph-form for ease of viewing.

from Schwab. It's provided at no charge if you make sufficient trades- something like 3 per month I think. Accessible using their StreetSmartEdge product

 

[hershey101]

from Schwab. It's provided at no charge if you make sufficient trades- something like 3 per month I think. Accessible using their StreetSmartEdge product

How accurate are these quotes? Most likely by the time the L2-data gets sent to your computer, wherever you are in the world, and you view it, the market has already moved by that time. Just due to the latency aspect of things... I really don't see what additional tradable information a retail investor can get by looking at L2-data vs. L1-data.

PS I work at a HFT and have a cs degree, so I'm not just making random statements, I'm somewhat knowledgeable about the area.

 

[Curt Renz]

Does anyone follow level 2 stock quotes? If so, what is the best free site for them? My broker doesn't have them and I found one site, but it is hard to follow. I'd prefer one where the bids and asks are shown in a graph-form for ease of viewing.

TD Ameritrade allows all of its clients access to Nasdaq Level 2 quotes as long as they are not “professionals”, i.e. not registered with FINRA.

 

[InTheShadows]

What info can you gain from level 2? The only thing I found it valuable for was seeing prices where large orders were placed so I could jump in front of them.

 

[kenliles]

How accurate are these quotes? Most likely by the time the L2-data gets sent to your computer, wherever you are in the world, and you view it, the market has already moved by that time. Just due to the latency aspect of things... I really don't see what additional tradable information a retail investor can get by looking at L2-data vs. L1-data.

PS I work at a HFT and have a cs degree, so I'm not just making random statements, I'm somewhat knowledgeable about the area.

What info can you gain from level 2? The only thing I found it valuable for was seeing prices where large orders were placed so I could jump in front of them.

From my perspective, I think both those statements are pretty accurate. I use them to occasionally look at after hours trades real time. I also use them for very low volume stocks that tend to have high bid/ask to measure the actual spread vs market maker spread.

But in terms of actually timing and beating trades to the punch- I take a different approach; and slow down to place myself way out of the HFT time constants (like months). By the time they get there, I've already been there, so I actually beat them to the trade. The best way imo to deal with HFT & bot trade is to leverage their weakness- by definition, they have to look only at their feet while running-
Prefer the horizon scenery myself- I can Walk straight faster than they run their zig-N-zag obstacle course. Must admit they sometimes hit me from the side as they move across my path. bot boys achilles though is their myopia (buy on the flash-of-the-crash).

 

[AlMc]

From my perspective, I think both those statements are pretty accurate. I use them to occasionally look at after hours trades real time. I also use them for very low volume stocks that tend to have high bid/ask to measure the actual spread vs market maker spread.

But in terms of actually timing and beating trades to the punch- I take a different approach; and slow down to place myself way out of the HFT time constants (like months). By the time they get there, I've already been there, so I actually beat them to the trade. The best way imo to deal with HFT & bot trade is to leverage their weakness- by definition, they have to look only at their feet while running-
Prefer the horizon scenery myself- I can Walk straight faster than they run their zig-N-zag obstacle course. Must admit they sometimes hit me from the side as they move across my path. bot boys achilles though is their myopia (buy on the flash-of-the-crash).

Ken, you really should start a 'LEAPS as replacement for stock' thread!

 

[Raffy.Roma]

China Considers More Electric-Car Incentives: Official - Bloomberg

"The development of such vehicles carries grave importance for helping ease China’s energy dependency, combating air pollution and nurturing the local auto industry, he said."

Nice, nice, nice.

+ 1

 

[ggies07]

Did you guys see this on 60 minutes this past Sunday night?

Is the U.S. stock market rigged? - 60 Minutes Videos - CBS News

I had read about high speed trading from the book 'Dark Pools', but this was something new.

 

[AudubonB]

...by definition, they have to look only at their feet while running-
Prefer the horizon scenery myself- I can Walk straight faster than they run their zig-N-zag obstacle course. Must admit they sometimes hit me from the side as they move across my path. bot boys achilles though is their myopia (buy on the flash-of-the-crash).

Nice writing, Ken!

 

[hershey101]

Did you guys see this on 60 minutes this past Sunday night?

Is the U.S. stock market rigged? - 60 Minutes Videos - CBS News

I had read about high speed trading from the book 'Dark Pools', but this was something new.

I saw it, completely overblown. Total publicity stunt on information that is now almost half a decade old. I wouldn't buy what the author is selling if I were you. Trying to front-run based on time lag is old news.... Hasn't worked for a long time. The HFTs are moving away from equities for more lucritive buisiness like FX. And his reporting is very bias, no mention of anything intelligent that HFTs or algo funds do to make money.... There is a lot more intelligent work that goes into making a profitable trading strategy than just scalping pennies... Although I'll admit, 10 years ago, scalping pennies could have made you millions if not billions...

 

[FluxCap]

I saw it, completely overblown. Total publicity stunt on information that is now almost half a decade old. I wouldn't buy what the author is selling if I were you. Trying to front-run based on time lag is old news.... Hasn't worked for a long time. The HFTs are moving away from equities for more lucritive buisiness like FX. And his reporting is very bias, no mention of anything intelligent that HFTs or algo funds do to make money.... There is a lot more intelligent work that goes into making a profitable trading strategy than just scalping pennies... Although I'll admit, 10 years ago, scalping pennies could have made you millions if not billions...

I have a good friend working hard writing code for Bloomberg clients to scalp pennies. He calls it good business, I view it as a barely-legal, definitely unethical version of The Wire Con.

 

[kenliles]

I saw it, completely overblown. Total publicity stunt on information that is now almost half a decade old. I wouldn't buy what the author is selling if I were you. Trying to front-run based on time lag is old news.... Hasn't worked for a long time. The HFTs are moving away from equities for more lucritive buisiness like FX. And his reporting is very bias, no mention of anything intelligent that HFTs or algo funds do to make money.... There is a lot more intelligent work that goes into making a profitable trading strategy than just scalping pennies... Although I'll admit, 10 years ago, scalping pennies could have made you millions if not billions...

without really knowing, that's the flavor I got from it too. So good to get some confirmation from a more knowledgeable person hershey. There was definitely some validity to it but for a very narrow set of circumstances that seemed fleeting to me. I thought they were going to draw more sweeping lessons from it and apply them, but they never really did. Was fun to watch as a warm up to the Tesla story though- which was well done I thought

 

[The Blue Owl]

I saw it, completely overblown. Total publicity stunt on information that is now almost half a decade old. I wouldn't buy what the author is selling if I were you. Trying to front-run based on time lag is old news.... Hasn't worked for a long time. The HFTs are moving away from equities for more lucritive buisiness like FX. And his reporting is very bias, no mention of anything intelligent that HFTs or algo funds do to make money.... There is a lot more intelligent work that goes into making a profitable trading strategy than just scalping pennies... Although I'll admit, 10 years ago, scalping pennies could have made you millions if not billions...

Your position is far from being the consensus. Plenty of fund managers came out recently in support of what Michael Lewis is saying, and based on what I heard from him and the other participants in the epic debate that happened yesterday on CNBC, it seemed to me he has a point.

 

[kenliles]

I have a good friend working hard writing code for Bloomberg clients to scalp pennies. He calls it good business, I view it as a barely-legal, definitely unethical version of The Wire Con.

like a modern day Sting-Op I guess- interesting

 

[DougFreshYeah]

after hours made a Tesla "T" I will take that as a good sign lol

 

[The Blue Owl]

The news about the Norway sales is bubbling up to the mainstream media. They just talked about it on CNBC.

 

[justdoit]

View attachment 46413 after hours made a Tesla "T" I will take that as a good sign lol

Haha. This is awesome! Thanks for sharing

The news about the Norway sales is bubbling up to the mainstream media. They just talked about it on CNBC.

I agree. I think the news is just getting out and will help us this week heading into next. This week has had a great run, we might have one more green day before we slow down and take a breath on friday. But I'm really excited about next week.

 

[AudubonB]

Awwwwwwwwwlllllllllright!!! Now there is some

echnical patterns even I can agree on!