What is level 2 market data on MooMoo? | Rookie Trader Journal 21 Jun 2021

MooMoo provides free access to unlimited LVL 2 market data & 24/7 instant news!

What is level 2 market data?

"Level 2 is a generalized term for market data that includes the scope of bid and ask prices for the given security. Also called depth of book, Level 2 includes the price book and order book, listing all price levels of quotes submitted to the exchange and individual quote."


What is Level 1 vs level 2 market data?

"Level 1 quotes provide basic price data for a security including the best bid and ask price + size on each side. ... Level 2 shows market depth typically up to the 5-10 best bid and offer prices."
https://www.investopedia.com/terms/l/level1.asp

Infographic

https://stockstotrade.com/understanding-level-2-quotes-infographic/




How's my purchasing power today?

  • I can buy 1 stock using Moomoo. 
Any stocks in my Moomoo watchlist to buy? 
  •  CAT
Any stocks to add to the watch list from the Moomoo Heat List and Market Opportunity KDJ Golden Crossing?
  • DAL

Any tips from TraderTV Live?
  • CAT
  • Nervous about the NASDAQ negative. 
  • Death Cross

Which stock in hand can I sell?
  • ADVM. Bought $4. Stop $3.47. Target $4.40. 
  • METX. Bought $1.60. Stop $1.53. Target $1.90.
  • AAPL. Bought $125. Target $138 or cut at KDJ dead fork. 
  • VISA. Bought $233.27. Target $256 or cut at KDJ dead fork. 
  • TCOM. Bought at $37.37. 

How to track medical biotech stocks, meme stocks, and penny stocks... As well as any popping stock?
  • New strategy using Moomoo.    
  • Started on 7 June 2021. 
  • Scan Trade Heat list to look for 3 signals.
  • 1st signal - Buy on KDJ Golden Crossing
  • 2nd signal - Confirm uptrend with SAR and MA. 
  • 3rd signal - Double confirm with Oversold Analyses. 
  • Sell on opposite signals. 

See you tomorrow. 

~ Rookie Trader 


PS: I would like to thank the following...
Buy Crypto?

Footnote to self:
  • Buy Market price when I see a signal. Don't buy at a Limit price. 
  • Buy on dip from late April to early May 2021.
  • Sell in May and go away. Reinvest in November.
  • August is a particularly strong month, September is an especially bad month for stocks.
  • 10% strategy is not efficient. 5% profit is faster to reach. Hence Change to >$100 target strategy instead. 
  • Buy quickly once I identify a stock to buy.
  • Queue GTD for every buys and sells. 
  • Missed SEAC spike 3 times within a week. Dropped to negative immediately after the spike. Lesson - Queue up to sell using GTD. Forget about using alerts.
  • Premarket moves are irrelevant and distracting. Stop tracking them. 
  • Sell immediately if price spikes on news.
  • Remove emotion from the equation.
  • Sell. Don't hold. Don't be greedy. 
  • Sell when the target is hit. Don't hold. 
  • I need a cut-loss strategy.
  • If I don't sell, I will have no capital to buy. 
  • Locking the profits at hand is better than risking the opposite direction.
  • How to recover from stock market losses? How to recover my money lost? How to win my trading losses back? 
  • The best way to recover after losing money in the stock market is to invest again. 















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