ct_here.....
Together with using my charts, L2 is the most important tool in my trading. The 3 "big" MM's are NITE, JEFF and SCHB. They are the important players in 95% of all pink and OTC stocks.
You have many different ways of trading. You can (day)trade on news, on charts, invest for the longer term, etc....
In this case with QBID, which was a longer term investment for me, and which I have been following on L2 for several months now, I already know GVRC has been the big dumper on the ask(who doesn't know that by now, lol). Now that this week the 3 other big ones have joined him, selling shares, tells me to keep away for the moment. When the big boys are selling shares, you don't want to be in. Now, they always say, the big boys know everthing first. And I've seen it several times, that when NITE and/or JEFF and/or SCHWAB are accumulating shares ON THE BID for a few days, something is about to happen. Take a chart with it, and you'll see it in the chart also. Usually, a few days later some good news is released.
That's what I mean here also. The moment GVRC sets himself on the bid, starts accumulating, maybe together with JEFF, NITE and/or SCHB, that would mean they are BUYING shares, just for one thing, to sell them higher when news is released.
This is in a few simple words, in reality it's a little more complicated, but I hope you get my point :))
Only way to learn is looking at L2 for hours and hours, days and days, lol. The thing I usually do when I'm familiar with some stock's L2, I "try" to predict what's going to happen. If I get that right 2 or 3 times(which MM will raise and which will lower), I'm confident enough to start trading it.
In short, NITE, JEFF or SCHB on the ask, stay away. If they're on the bid, keep a close eye on it....:)) It's not a rule, but it helps 90 times out of 100. The other 10 times are called MMM(Market Makers Manipulation)
This is all just IMHO. I've learned all this from other traders, and it works pretty well with my trading. And when I invest in a stock for the longer term(very rarely), which I did with QBID, I use the same tools, and they(usually) work there also....
goldwing
AI
