Investor Help (NO Ihub questions)

[cintrix]

I can't imagine not using level II while I am trading. Although when I first began trading, level II wasn't even available back then! Regarding market orders - I have no idea what type of plays you are doing but I truly hope that you are not using market orders with penny stocks. Some brokers don't even allow market orders with penny stocks - you could end up buying something for a lot more than what the current ask is. To tell you the truth I never use market orders ever - even when I am buying a 20 dollar stock. The only time I ever used them in the past is if say an event happened that made it move hugely and every time you put an order in the ask kept upticking - if you want the stock no matter what u can put a market order it so you know it will fill.

Also, level II doesn't represent every single retail order. Sometimes if you put an aon order in they don't show it on level II. Or you can put a limit order in say for 30k shares of a penny stock - u would see your order there and when it fills, u see it gone, but there may still be a mm representing 5k shares and a few hundred thousand can go through and that 5k is still there - mm's have inventory and especially when there is a diluting stock there could be much more shares to go that you can't see.