More detailed market data that includes the order book, showing depth of market (DOM) with pending buy/sell orders at various price levels.
Level 2 data helps traders analyze order flow and liquidity, making it easier to gauge support/resistance levels and anticipate short-term price movements.
A trader sees large buy orders stacked at 4,495.00 in the DOM, indicating strong support. They decide to enter a long trade just above that level.
A financial instrument is the entity being bought and sold while trading.
A firm that provides traders with capital to trade financial instruments, such as futures. Traders retain a percentage of the profits they generate, while the firm assumes the risk.
The specific account or evaluation package offered by the prop firm. Plans vary in account size, evaluation difficulty, profit targets, and rules.
A smaller-sized futures contract (e.g., 1/10th the size of a standard contract), which allows for more flexible risk management.
The standard-sized futures contract traded in the market.