That are people who still want in @ 2.... my guess it that won't work. Give it some time becouse people will get fedup with not getting filled @ 2 and change there buy order to 3.
I think I might trade a little different. I bought a load @ 2 and put another relative small buy order in @ 2 (again)in case somebody needs to take a dump....
Lets say L2 looks like this
3MM @ 2 bid 1MM @ 3 ask
And some greenhorn decides to dump his shares @ 2 becouse he does not understand how L2 works... Then I MIGHT get them and will have a almost instant 33% if the 3's are pushed over.
Slapping the ask is of the same importance as building the bid.
And the people that did not understand me buying at bid this morning will understand now cause I made a 50% in 2 hours:)
All is IMO. I only trade for myself and I am no financial expert. GLTA always.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.