We have lots of experienced traders on MoneyAM who would be glad to help if you have any trading questions.

When I look at L2, I always enter a figure in the filter as there are orders which are there to distort what you can see and this removes them!

At the end of the day a MM is there to make money - and they do sometimes play against each other.

Thank you little woman

Can you please explain how I can use the filter as I cannot find one on the level 11 screen and what figure would you use. Is the filter on the level two screen?
Thanks again

washlander, trades inside the dislayed bid offer spread with no associated trade code are often trades executed via a retail service provider and are often small trades (NMS or below). If you use an execution only service like comdirect or idealing, you will almost go through an RSP or 'price-improver' although the 'improvement' in price is often modest.

Washlander - I presume you have Moneyam L2 screens? On theirs (I've not used anyone elses so don't know if they are the same) above the actual orders are the words BUY ORDERS Filter (%) & SELL ORDERS Filter (%). Next to both is a box - you can enter a number in this box and as you do it watch the change at the bottom of total orders & depth. Some shares you can use whole numbers, whereas others you need to use fraction. Just experiment.

Firstcall.
The sentence was 'It should jump out at you'
Make of that what you want to....
ZOLTAR

Thanks Dominic.
Hello Little woman. I have level 11 [i paid for the top service with moneyam]. However I do not see anything on the level 11 screen other then the edit display that I can enter anything in. This only appears to allow me to change the default colours.
Sorry to be a pain.

Washlander - can you see the words "BUY ORDERS filter(%)?

Washlander. On the image above you will see 2 white boxes under the yellow strip on SETS stocks only, these are the % filters for the order book.

Mike

Just click your mouse in the box and you can then enter a number

I do not have that on mY screen. Is that because I am lookig at RTD? and not at a blue chip stock.
Thanks again.

Washlander - yes. It's not on SEAQ stocks.

I was caught out with this one, though. You just put in the figure in the box (on SETS and SETSMM screens only) and it automatically cuts out the prices below that figure. I tend to use 1 or 2 per cent for quick day trading, to show just the offers and bids that are really interested in the current price or thereabouts. It depends on the likely swing in the next five or ten minutes or so; I gauge (guess) this from the five-day charts. For longer-term trades you will probably need a considerably larger figure.

Zoltar

Quote: "It should jump out at you"

Very enigmatic.

Has it really made a difference to your trading?

Yes - as far as stock selection goes....I can whizz through stock charts on Sharescope to see which ones I'm interested in.
Still got to get timing right though....which is easier said than done!
ZOLTAR

Zoltar

Would you then reccomend the course you went on to others?
Who ran it?
How much do they cost?

Has anyone else found useful training anywhere?

Firstcall

http://www.glomtc.com

Firstcall.
It all depends how much time you want to put in and how much you want to spend.
I like books.....you get much more for your money, and you learn at your own pace. Courses are much more expensive, and you get lots of information put in front of you in a very short time - easy to miss things.
I went on the GLOMTC trading course, which cost 350. It was very good, and was run by David Jones (limpsfield chartist) and Mike Boydell (bullshare).
Was it worth the money? hmmmmmmmmmmm???? On balance yes, even though I'd already learnt lots from my books - I've got most of the common ones that everyone talks about. But they emphasize which are the most important things.....coz there's lots of 'non information' on trading that just acts as a distraction.
In this game knowledge is power......and there's lots to learn and lots of traps and pitfalls.......which I've been caught in many times......and still do......I'm only just learning that spreadbet companies are b******rds, especially their rip off spreads.......and put a stop on something and it becomes almost magnetic for their quotes...but enough moaning...
Overall, it depends how serious you want to take things and how much money you want to spend.
Hope this helps
ZOLTAR

.....and one other thing. You need your own software. Sharescope is the best use of twelve quid a month I've ever spent. It's all too easy to just rely on a few people's postings on a bb, but you need to do your own thing to ever make it trading...not that I'm saying I have coz I haven't.....but I know you won't ever improve at all, not even on to the first rung of the long learning ladder, if you just take others' tips. And sharescope gives all the fundies and charty stuff you need....
ZOLTAR

Can you please explain why, after acting on your tip (Cytomyx Holdings), It would seem I have lost substantially as a result of consolidation. I originally tried to purchase 8000 of stock at the end of Dec 2003, however I could at that time only purchase blocks of 25,000 shares @ 1.65p (412.50)
Two days later I found I could purchase 8000 of stock which I did at 1.75p.
The following day I received a letter from my stockbroker informing me that subject to approval at an EGM to be held on 12 Jan 2004 that the ordinary shares would be consolidated at 2.5p for every 25 ordinary 0.1p share. This effectively valued my holding at approx 6500 a loss of nearly 2000. Surely this cannot be correct. can you comment please