I learned a lot this morning as I followed the three stocks on my watchlist (KNDI, KEM, DRAM).
1. I need to trade smaller. For now on, I will only use $1,000 max for each stock. The point is to learn at this stage, not to become rich.
2. My level 2 knowledge is lacking. I need to study up on it. I studied it before, but not enough. I have to master it. Period.
3. I had DRAM picked to go higher. It went lower (-20%). In hindsight, this stock had the potential to go lower at the open, I should have been ready for a short, just in case. So I need to see if I must call my broker to get the shares. In other words, I need to do this long before the market opens. I need to have my phone fully charged and with me. I need to be prepared with the ticket order.
4. I bought KNDI at the open. The stock went sideways, and then slowly started going lower. This stock was becoming a shorting opportunity. But I wasn't ready for it. I NEED to be ready for it. I need to have the ticket order ready. This stock had been up a lot recently, so a decline was certainly a possibility.
5. Keeping to a small watchlist helped (3 stocks). It was less to worry about.
Hey! I remember when I had no idea about level 2, I wish someone had told me but its quite simple. The biggest advantage of the level two is the left side which is buyers and the right side which is sellers. When you are looking to execute the trade if you see a wall of sellers for instance today I bought $FNMA at 3.79 and it shot up to 4.05 however on the right side the sellers were stacking up at 23k shares, 10K shares, and 50K shares. I sold because typically when that many shares are bein
being sold its hard for the price to push higher
@Wallstreetfinest Thanks for the encouragement. I have studied level 2 before, but I have barely used it, which means I know NOTHING. I need to know more by trying to use it on a daily basis.
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