101,000 Price Is a list of prices for each transaction made on the market. The price glass is also known as book orders. This is a window that shows the number of open buy and sell orders at different prices for the asset.
Suppose the current price is 1 US dollar, glass will show how many orders are available at the price of 0.90 US dollars, 1.10 US dollars and so on. It is a great tool to see where supply and demand levels are.
So some traders specialize only in trading glass prices. They observe what orders arrive when trading based on what they have analyzed in the price action.
How to open a price glass?
Connect to a broker account that supports Level 2 data. Click the DOM button on the right bar of the chart. DOM will open for the current security. If it is empty, the symbol you are looking at cannot be traded through a broker.
Default data is displayed in semi-static format. This means that the price lines are fixed as long as the price moves within a certain range. If the price is higher or lower visible range, it recovers after 5 seconds.
Price Glass Trading
Trade Price is what all scalpers should know about forex trading with retail brokers. Because trading with a glass of prices is one of the most successful ways of scalping. The main problem of such trading is the rarity of software to work with glass in the forex market. This is due to the fact that most retail brokers do not provide their clients with a direct stream of currency price data and do not have access to data on order flows.
Glass of Price is what almost all retail brokers lack. At the same time, it is one of the most profitable ways to trade in any market. This is a great tool that you can use if you are a scalper. But many retail brokers simply are not suitable for scalpers because they have deprived traders of the opportunity to use this style of trading.
However, there are ECN accounts and direct market accounts that offer glass prices. The trader’s aim is to obtain order data from a large bank to enter the market directly. Scalper tries to reduce profits with a payment plan based on micropips and pips.
ECN and direct bank accounts make it easy to get your scalp through level 2 and you can scalp less than pips of profit. However, an ECN account that gives traders access to much-needed data requires a much higher deposit than a standard forex broker account.