Level 2 is a tool..about the best we have at our level of trading. Streaming quotes are almost useless because they give you no idea of where the orders are. Look at the point spread above the ask and below the bid. At times, when the next two prices are only a point apart (.01) the fact that there is suddenly a 2 to 3 cent gap at the next two levels tells me that that is where they are taking it. For instance there will be "bids at .85 and .84 and then nothing till .81....while on the other side there are "asks"at .86, .87. 88. 89 and because there are active MM suddenly placing orders at these levels which keep the same margin of .01....that is where they are headed.
It doesn't work all the time but is usually a good indication for me.
Today was a good day, I increased my shares by 200, just by getting out and buying in at a lower price. Tomorrow should be a better day...back to the .90's. We'll see where the shorts who sold on Wednesday take it.
I get free level 2 so I know what you mean. When you use it to trade it helps make up the money even at your $15US.
the only thing level2 will tell you is where the price is possibly going in the next 60 seconds. If you trade like that you might as well be sitting in front of a slot machine because at least you get free drinks.