$Ishares U.S. Energy Etf (IYE.US)$ can someone explain the o...
$Ishares U.S. Energy Etf (IYE.US)$ can someone explain the orderbook on here and how can it be used to our advantage
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hey im tim and i love this life style i do my best to help
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SmrtTrader : Sure. So the order book let's you see the orders, well in order. So let's use Tesla for example (mind u market is closed but act as if it was up and running). This book allows you to see where price action is at basically. You have to understand that the market makers wants a desirable price where people are buying and selling.. supply and demand. It also tells you where support and resistance may be at in terms of price.
Ok, so look at the Tesla pic with yellow #1 in the pic. See that top line I circled? That is the current BID & ASK. Just under it is the second in line as shown by the number 2 to the far right if the line & left. See the second pic with #2 circles at top - see that big order where someone is ASKing for $432 per share X 3227 shares. That could be a resistance point bc it may take longer for ppl to buy at that price.
So when there is more on ask side (supply side) that means there is more supply than people want to Bid on (demand side). So if you have 3227 shares at 432 dollars and 200 shares at 428 dollars (just example) on bid side then the bid side will more than likely be wiped out before the 3227 shares the person is selling gets sold. As u know once the bid price is wiped out it goes DOWN to the next highest bid. Make sense?
Hopefully I didn't lose u.
Spartakus OP SmrtTrader : hell yea perfect thank u
SmrtTrader Spartakus OP : no thanks needed.. happy to help
Spartakus OP SmrtTrader : glad to be on the winning team u seen bbby jump up
SmrtTrader : oh hell yeah I did..they killed it