In this video i go over how to read an order book/level 2 data and how to use it as a trader.

How to read order book level 2. The best bid is the highest buy limit order. It is showing open orders to buy/sell. Order book level 2, and market by order.

The more basic of the two types, level 1 market data generally provides the following information; Order books are organized in such a way that the highest bid and lowest ask are always on the top of the order book, as they are the first to get consumed. Then you click on “subscribe to level” as shown on the screen below.

To put it another way, only the spread is visible, the difference between the best bid and ask. So if you see an order for 0.7, that has nothing to do with the chart showing actual trades. In the example below there is an open buy order in the amount of 20.24 at a price of $8218.50.

On the right hand side in red, the sellers orders (30 orders are used to summaries this view) volume is what is. The best ask, on the other hand, is the lowest sell limit. Can someone please explain this like i'm a 5 year old money who's been chewing crayons for the past 3 years.

The easiest way to get the webull level 2 subscription is to go to “help center”. This means the entity who opened this order would like to purchase 20.24 units of. When a large amount of limit buy or sell orders are placed at the same price level, it constructs a wall that limits price movement.