RE:RE:AsksHouse.of.steve wrote: Never trust the Level 2 ... They use it to scare people to sell or buy ... Only trust the actual bid and ask.
You state: never trust the Level 2
I firmly agree!
You state: Only trust the actual bid and ask.
I say even then, you are at risk of being manipulated. For those large bids/asks you see quite often, can disappear in a split second.
The institutions [larger players] actually use software with algorithms that will pull their misleading bids, should sellers start to hit it. And the same thing on the ask side should buyers start to hit it.
If they are trying to sell their stock, they obviously don't want their fake bids hit. And if they are trying to the buy the stock, they don't what their fake asks hit.