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DEFINITION of 'Ax'

The market maker who is most central to the price action of a specific security. The ax can be identified by spending several days studying level II quotes and noting which market maker seems to have the greatest effect on the security's price.


BREAKING DOWN 'Ax'

Identifying the ax is a common strategy among day traders, and trading in the same direction as this market maker can drastically increase a trader's odds of making successful trades.

Any given stock can have several market makers, and the ax for any given security can change every day. It may take a trader several days to determine which market maker is primarily controlling the action of a certain stock.

Read more: Ax Definition | Investopedia http://www.investopedia.com/terms/a/ax.asp#ixzz42Q6aiggd

Introduction To Level II Quotes
By Justin Kuepper | Updated March 06, 2016

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

Level II can provide enormous insight into a stock's price action. It can tell you what type of traders are buying or selling a stock, where the stock is likely to head in the near term, and much more. Here we explain what level II is, how it works and how it can help you better understand open interest in a given stock.

What Is Level II?
Level II is essentially the order book for Nasdaq stocks.

When orders are placed, they are placed through many different market makers and other market participants. Level II will show you a ranked list of the best bid and ask prices from each of these participants, giving you detailed insight into the price action.

Knowing exactly who has an interest in a stock can be extremely useful, especially if you are day trading.

Read more: Introduction To Level II Quotes | Investopedia http://www.investopedia.com/articles/trading/06/level2quotes.asp#ixzz42Q7Wvqm6

You are misguiding yourself...Basic Level II

Information...NITE is the AX he lead
the other Dealers follow Level II 101

I do not have a problem with your understanding
how Level II works...works for you. However,
if I were you I would get a clear understanding
how it is designed to be use.

Not my rules...Just saying '-D