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Views 79Mar 25, 2024

U.S. stocks lv2: Get deeper quote information easily

In short line trading, market information changes rapidly. For all traders, who can consistently make an accurate judgment in these wind shifts and who is the winner. It is very important to get comprehensive and reliable trading data if you want to increase your winning rate.

At Futubull, you can easily access deeper quotation information using the depth chart feature, and make better investment decisions by understanding the actual market supply requirements.

How do I find the Depth Pendant (Level 2)?

  1. Click on a US stock for details > Charts

  2. Scroll to view live Bid/Ask and Order Book information

圖片所顯示的內容非最新信息, 顯示的任何證券僅供說明用途。
The content shown in the image is not up-to-date and any securities displayed are for illustrative purposes only.

How to interpret the Depth Pendulum (Level 2) data?

The pendulum area has a total of two areas, BBO and Depth Pendant.

1. BBO (Best Bid Offer), is a free Level 1 quote that shows only the order ratio and the best offer in the market.

2. The depth chart is displayed at Level 2. You can not only see the latest prices, but you can also see the latest pricing patterns, including orders that have not been completed on the following list. At Futubull, all you need to do is open access to NYSE AcraBook Lv2 data free of charge (available to users in the US region for $100 or more), every 0.3 seconds to allow traders to see the current supply requirements.

  • The green area on the left is a buy order and the red area on the right is a sell order.

  • “ARCA” is the name of the exchange.

  • The middle number is bid/ask price. Bid prices are arranged in high to low order, and sell prices range from low to high.

  • The number on the right is “hand” (1 hand = 100 shares), which means how many shares there are at that price waiting to be traded, and the number of shares at the same price overlaps.

The depth pendulum has 3 personalization options:

  • “house icon” can switch quotes from other exchanges that have been purchased;

  • Options in the Adjust icon allow you to personalize the adjustment chart, including Price Color Difference, Order Quantity Distribution, Same Price Match, Multi-Void Distribution Chart;

  • “Digital icon” can select the number of quotation columns to display, supporting viewing up to 60 lines.

The thing to keep in mind is that all that is displayed on the depth dial is only pending orders that have not been traded, and if your order is executed, it will disappear from Lv 2.

圖片所顯示的內容非最新信息, 顯示的任何證券僅供說明用途。
The content shown in the image is not up-to-date and any securities displayed are for illustrative purposes only.

How do I use the Deep Dial to capture trading time?

1. Determine the time of entry using a buy order to find the support level

For technical analysts, the best time to enter is when the stock price reaches the support level, so how to find the support level? For example, AAL has a 13.06k big order at $13.96, which means that there must be an equal number of sell orders on the sell before all of them can be traded. Therefore, we can judge that the stock price is less likely to fall below $13.96 in the short term, forming a support level. If you want to buy stocks that are priced higher than $13.96, you can buy them before the big order.

圖片所顯示的內容非最新信息, 顯示的任何證券僅供說明用途。
The content shown in the image is not up-to-date and any securities displayed are for illustrative purposes only.

2. Using Bids to Determine Support Levels and Deploy Anti-Erosion Strategies

After buying a stock, it is common for experienced investors to default to stop the depreciation in order to reduce the risk of trading. When the price falls below a strong support level, it means that there is significant selling pressure at the moment, and the probability of a rebound in the share price is greatly reduced. Therefore, finding a suitable support level is a prerequisite for setting an anti-erosion position. With Scenario 1, we know that a large order on the order can be seen as a relatively strong support in the short term, so you can set a stop to the erosion below this price.

3. Set a stop-profit strategy to determine stock price gains by using stock markets

In contrast to a buy order, a sell order implies short-term upward resistance in the stock price. If the stop earning position is set at or above this price, you can sell the stock before the big sell off and get a profit.

圖片所顯示的內容非最新信息, 顯示的任何證券僅供說明用途。
The content shown in the image is not up-to-date and any securities displayed are for illustrative purposes only.

All in all, Deep Dial Lv2 trading can help us gain more market information in short line trading, making it more accurate to grasp entry, stop, and stop earning times, which is practical and easy to get started. But at the same time, we all need to consider other integrated factors and conduct more comprehensive analysis and evaluation in order to make better trading decisions.

Disclaimer: The above content does not constitute any act of financial product marketing, investment offer, or financial advice. Before making any investment decision, investors should consider the risk factors related to investment products based on their own circumstances and consult professional investment advisors where necessary.

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