051: Bryce Edwards – Tracking ‘Stocks in Play’ and Acting on Order Book Activity, Intraday Momentum
Chat With Traders
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The Importance of the Order Book in Trading
The order book is just the same as the tape or level two for, you know, those listening outside of Australia. In terms of predicting the short term move in a stock, the order book is at the very forefront of where the trade's happening. So if I'm going to buy a stock, I'll see a big line of bidders behind me and that will help determine my position size. But there's a really big difference between the Australian market and the US market in terms of microstructure. The order book in Australia is probably a whole lot more reliable.
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