Scalping futures based on level 2 data

#1
Hello traders.
I had a doubt. I just wanted to confirm the fact that while scalping futures for 4-5 ticks, it doesn't make sense to make use of level 2 data comprising of bids and asks because the future's price is not affected by the orders placed, but is derived from the spot price of the instrument.
Am I correct about this?
I'm asking because a lot of people use level 2 for scalping futures and it just doesn't make sense to me.
Thank you.
 
Last edited:

newtrader101

Well-Known Member
#4
This is Level 2 data right? (from Zerodha)
What is Level 3. Can anybody share a screenshot.
1617613480832.png
 

Similar threads