a quick add to that if i may..
in regards to a bounce play...
i have told many people that it is not enough to have L2 on a bounce play, imho it is crucial to be able to see if the mm's have ut'd or dt'd...that way you know if a "wall" is for real or not..
what i like about mytrack is the colors, if that last move of an mm is ut, then the letters on them turn green, and a dt = red..so, if a stock is tanking and all of the mm's have dropped down to form a wall at say .2 - and they are all "red" - then i'm not even interested yet...but if i see another mm or 2 turn green and join the wall, or even move up on the 2nd or 3rd tier, then i've got my finger ready on the button...
there is a moment of truth on a bounce that lasts about 10 seconds, where she's either gonna turn or not, and unless you've been nibbling right before ( which i only do if it's really tanking and i know the stock will go back above the nibble point ) then you will not get filled unless you start submitting the orders at that exact moment...
and knowing if the same mm's that were just pushing a stock down for 30 minutes, finally start showing some "green" or, finally moving up there low bid, is crucial..