
One of the biggest challenges that new traders can face is lack of access to the same information and resources as professionals. If you have the right tools and information then it is easier to see the bigger picture in your analysis, and to develop your edge in the market. If I told you that it was possible for you to see exactly how many other traders are willing to buy or sell at each price level, would you think that might be useful information to you when entering and exiting positions?
Welcome to Level 2
Well this type of information – known as Level 2 Data - is available to you with the right choice of broker. Your broker has access to this information otherwise they couldn’t match your orders, but most brokers choose not to share Level 2 Data with their clients. Level 2 data feeds come directly from a stock exchange, and are commonly referred to as ‘direct market access’ (DMA). Colmex Pro is one of the most established and trusted brokers among those who can provide Level 2 data for your trading.