My broker offers Level II quotes for currency pairs. My instinct tells me that this should be powerful information, but I have absolutely no idea what to do with them. Occasionally I pull them up when I'm in a trade just to see the open orders that are hanging out there, but I'm not doing anything meaningful with this data.
It seems that any serious day trader in the traditional stock market would not be caught dead without a Level II provider. However, I never hear anything mentioned about this in forex.
Does anyone here actively use Level II quotes in their trading process? If so, could you please give me some guidance on how they can be used?
It seems that any serious day trader in the traditional stock market would not be caught dead without a Level II provider. However, I never hear anything mentioned about this in forex.
Does anyone here actively use Level II quotes in their trading process? If so, could you please give me some guidance on how they can be used?