Rognvald
Established member
- Messages
- 916
- Likes
- 15
Stevet
I am interested in your explanations about the unsuitability of IB RT feed for charting.
I appreciate the point about only getting the ticks from switch on but would like to know more about the technical issues you refer to. If you are willing I for onewould welcome an article on this. If you don't feel it appropriate for this thread and have time I would appreciate a PM on the subject
I am interested in your explanations about the unsuitability of IB RT feed for charting.
I appreciate the point about only getting the ticks from switch on but would like to know more about the technical issues you refer to. If you are willing I for onewould welcome an article on this. If you don't feel it appropriate for this thread and have time I would appreciate a PM on the subject
Rognvald
there are quite a few issues - and partly i dont want to get too deeply into it - because i just think all this trying to save a buck in this way is just gonna screw up peoples chance of making money in the markets - the few dollars someone thinks they are saving - they are going to piss away bucket loads more in losing trades
but for one thing - to save bandwidth - IB only send out sampled data so you are not getting everthing - and also - there are algorythms which confirm the status and validity of the last trade -and it is real important to having an understanding of basis of pure exchange data in order for its use in trading to be of value
but the fact that u just have the latest tick only for the charting at start up makes it pointless to try to trade off this data in a chart form
there are quite a few issues - and partly i dont want to get too deeply into it - because i just think all this trying to save a buck in this way is just gonna screw up peoples chance of making money in the markets - the few dollars someone thinks they are saving - they are going to piss away bucket loads more in losing trades
but for one thing - to save bandwidth - IB only send out sampled data so you are not getting everthing - and also - there are algorythms which confirm the status and validity of the last trade -and it is real important to having an understanding of basis of pure exchange data in order for its use in trading to be of value
but the fact that u just have the latest tick only for the charting at start up makes it pointless to try to trade off this data in a chart form
JonnyT
i am well up for anything that saves bucks -
but the point i am trying to get over is that a real trader capable of making thousands a day would be way more likely to make money by just looking at the price in analogue form and trading off that - than a new or an unsuccessfull trader would be trading with all the best kit in the world
trading is a nightmare - and only beginers feel there are shortcuts or ways to save money - but if someone is starting out in trading - they sure as hell better start with something good until they are able to discern what is good or bad for their trading - and price is a reasonable way to tell if something is good or not - not a perfect way - but sure is a guide
i know a lot of hobbyist one lot traders in the US use the set up you have - but i cant see anyone trading 25 contracts with $1,250 at risk on each point with just that sort of data set up you describe - but if it works for you - great
i am well up for anything that saves bucks -
but the point i am trying to get over is that a real trader capable of making thousands a day would be way more likely to make money by just looking at the price in analogue form and trading off that - than a new or an unsuccessfull trader would be trading with all the best kit in the world
trading is a nightmare - and only beginers feel there are shortcuts or ways to save money - but if someone is starting out in trading - they sure as hell better start with something good until they are able to discern what is good or bad for their trading - and price is a reasonable way to tell if something is good or not - not a perfect way - but sure is a guide
i know a lot of hobbyist one lot traders in the US use the set up you have - but i cant see anyone trading 25 contracts with $1,250 at risk on each point with just that sort of data set up you describe - but if it works for you - great
Last edited:
"but i cant see anyone trading 25 contracts with $1,250 at risk on each point with just that sort of data set up you describe "
you might just do people the courtesy of making sure this is the sort of trading they are actually involved in ?
but its up to you ?
you might just do people the courtesy of making sure this is the sort of trading they are actually involved in ?
but its up to you ?
bonsai
yep - and that is kinda my point
this is a public forum and when people come in for the first time and read the messages in here - and someone says - this is the way you should do it and this is how - the new person assumes the person is some high powered trader and that is the way all traders do it
but a lot on here trade for fun or a hobby and that is great and good for them
but, and i have made this point before - the site is called trade2win which to me is more about working hard to make a commensurate return
i am specificlly aligning my points to the concept and opportunity for full time professional trading which may not be what a lot of people want from this forum - but it maybe what some people want - and there is plenty of the other stuff for them
what do u think?
yep - and that is kinda my point
this is a public forum and when people come in for the first time and read the messages in here - and someone says - this is the way you should do it and this is how - the new person assumes the person is some high powered trader and that is the way all traders do it
but a lot on here trade for fun or a hobby and that is great and good for them
but, and i have made this point before - the site is called trade2win which to me is more about working hard to make a commensurate return
i am specificlly aligning my points to the concept and opportunity for full time professional trading which may not be what a lot of people want from this forum - but it maybe what some people want - and there is plenty of the other stuff for them
what do u think?
stevet, I agree that one shouldn't skimp on feed, software or hardware, they are the tools of your trade. I made this point a long time ago on this board. What I'm looking at is to get some use out of programmes I've bought. Whether the feed is up to it at the moment, I'm not too bothered about. In the future it may become useful though. IB are only just developing this and are not giving support. Whatever the outcome, I'm learning about this computer stuff :cheesy:
oatman
absolutly - i think u r on the money with that
IB have been real keen for a long time to promote electronic trading - the first as it happens - but they run their operation real carefully and their attitude is - we will provide you with the tools - but we wont lose money helping you to use them and we dont want to charge you - so just have a go
but i love it on this site now, that there is a real interest and debate in understanding and confrolling data - way to go!
absolutly - i think u r on the money with that
IB have been real keen for a long time to promote electronic trading - the first as it happens - but they run their operation real carefully and their attitude is - we will provide you with the tools - but we wont lose money helping you to use them and we dont want to charge you - so just have a go
but i love it on this site now, that there is a real interest and debate in understanding and confrolling data - way to go!
bonsai
yep - but i am lost on that point, in that whoever is the "normal" user of the site must have done the "standard" old stuff from every which way and if they want to keep doing that - thats cool
but there must be new people coming to the site all the time - surely - and they are a whole new cycle of people interested in the site and keen to look at all aspects - and in particular - a chance to make a lot of money and work for themselves perhaps?
do u see something wrong in putting up a few messages for them to read and both inspire them and be realistic about the obstacles and introduce them to some elements of real trading that they might not have access to normally?
you know what - sometimes i just despair at attitudes in this country!!!
yep - but i am lost on that point, in that whoever is the "normal" user of the site must have done the "standard" old stuff from every which way and if they want to keep doing that - thats cool
but there must be new people coming to the site all the time - surely - and they are a whole new cycle of people interested in the site and keen to look at all aspects - and in particular - a chance to make a lot of money and work for themselves perhaps?
do u see something wrong in putting up a few messages for them to read and both inspire them and be realistic about the obstacles and introduce them to some elements of real trading that they might not have access to normally?
you know what - sometimes i just despair at attitudes in this country!!!
Last edited:
i could knock you up some charts with trend lines, fibonaccis, gann, and elliot if you need some art for your walls
but i mainly just trade off intra-market prices, volume and time, might have one MA (does not matter which one as long as its in the daily range) to keep quick visual track of where each market is
and i know my charts are boring, as i might not look at the chart for hours, as i am mainly interested in the exact price at specific points in time, and dont need a chart for that - just the trading platform - so not an exciting chart person - sorry
so u might judge from that that i dont consider charts as key to successful trading - a lot more to it than that - or a lot less depending on how you view it
but i mainly just trade off intra-market prices, volume and time, might have one MA (does not matter which one as long as its in the daily range) to keep quick visual track of where each market is
and i know my charts are boring, as i might not look at the chart for hours, as i am mainly interested in the exact price at specific points in time, and dont need a chart for that - just the trading platform - so not an exciting chart person - sorry
so u might judge from that that i dont consider charts as key to successful trading - a lot more to it than that - or a lot less depending on how you view it
Stevet
Disagree
I've used over the last 7 years Market Eye as a futures feed (fine AM, slow PM), E Signal (OK, but had lots of go slow probs), and then Pronet (Futuresource $2200 without charts, not perfect, short on ticks) as my feed for my 3rd party dde link software.
In the last year I have collected from IB and Pronet, and IB produced FAR more accurate and complete data than the others combined.
I do this for a living , and will pay up for good software and equipment within reason.
Disagree
I've used over the last 7 years Market Eye as a futures feed (fine AM, slow PM), E Signal (OK, but had lots of go slow probs), and then Pronet (Futuresource $2200 without charts, not perfect, short on ticks) as my feed for my 3rd party dde link software.
In the last year I have collected from IB and Pronet, and IB produced FAR more accurate and complete data than the others combined.
I do this for a living , and will pay up for good software and equipment within reason.
DaxTrader
hi
as i said IB only supplies sampled data, unlike a feed via J trader, GL, or TT where you get all the data - but with IB you will obviously end up with the more timely data than from a charting company - since you are you more or less receiving it directly from the exchange - so it is always going to beat any charting software - but you are also going to receive erroneous ticks from fast moves where size is pulled - and which data suppliers smooth out - and for a professionaly trader - that is not an issue -but may or may not be an issue for those learning
money absolutly does not always confirm value - and i use a number of data suppliers - prefer activeX to DDE - and ironically one of the cheapest data suppliers has been known to give Globex data off-exchange before the computer based GL guys in the pit receive it - and they are right next to the Globex main servers
but i still would suggest for those starting out that they get the best software so that they can easily get used to and understand all the bells and whistles, and how they might or might not affect the opportunity to make money, and dont end up trying to re-invent the wheel - and then from that base that can start to discern what they do or do not need to support their trading
if u trade on Eurex - of course you are getting their average price as opposed to last price - so the data issues from non- average price exchanges would not affect you
hi
as i said IB only supplies sampled data, unlike a feed via J trader, GL, or TT where you get all the data - but with IB you will obviously end up with the more timely data than from a charting company - since you are you more or less receiving it directly from the exchange - so it is always going to beat any charting software - but you are also going to receive erroneous ticks from fast moves where size is pulled - and which data suppliers smooth out - and for a professionaly trader - that is not an issue -but may or may not be an issue for those learning
money absolutly does not always confirm value - and i use a number of data suppliers - prefer activeX to DDE - and ironically one of the cheapest data suppliers has been known to give Globex data off-exchange before the computer based GL guys in the pit receive it - and they are right next to the Globex main servers
but i still would suggest for those starting out that they get the best software so that they can easily get used to and understand all the bells and whistles, and how they might or might not affect the opportunity to make money, and dont end up trying to re-invent the wheel - and then from that base that can start to discern what they do or do not need to support their trading
if u trade on Eurex - of course you are getting their average price as opposed to last price - so the data issues from non- average price exchanges would not affect you
