Help understanding the LEVEL II data screen

[robforee2]

I am looking for understanding of how to interpret the Level II data screen.

My Google searches are not turning up anything useful, any suggestions on search terms / web sites / training resources?

[NinjaTrader_Jim]

Hello robforee2,

Thanks for your post.

As a tip, you can press the F1 key in any open window to get to the documentation page for that window to learn more about using it.

I am including our Level 2 window documentation below.

https://ninjatrader.com/support/help...8/level_ii.htm

If you have any specific questions, please don't hesitate to ask.

[robforee2]

Thanks Jim,

I'm looking for something more fundamental, like what is "bid by price" and why should I care.

I guess what I need is the perspective of a market depth expert... maybe I can find someone in app share.

[NinjaTrader_Jim]

Hello robforee2,

Level 2 will show market depth, or volume being traded at certain prices. This could influence ones trading decisions depending on where the resting volume lies. For a trader's perspective you could reference some publicly available resources. I have linked a couple below.

https://www.investopedia.com/articles/trading/06/level2quotes.asp

https://www.investopedia.com/terms/l/level2.asp

Trading advise regarding how to use the level 2 data to make better trades would be outside of what we would address on this support forum, however. If you are looking for a trading educator, you may find someone in the EcoSystem. If you would like more information on browsing the EcoSystem, please let us know and we can have a colleague chime in.

We look forward to assisting.

[robforee2]

Great Jim, that helps, thanks.

I will take a look at the EcoSystem too.