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Darthbrooklyn
Registered: Jul 2012
Posts: 3 |
07-12-12 06:11 PM
Thanks for all the info .. Appreciate it.. now im confused as ever as to what to get to trade equities.
As a little background, I have been trading as an institutional trader for almost 20 years. I am considering leaving the biz and stepping out on my own as institutional commissions have dried up.. So im trying to figure out the best tools to use for equities trading as im not going to pay for Bloomberg and Fidessa out of my own pocket which is what ive been using at work.
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NoBias
Registered: Jul 2012
Posts: 154 |
07-12-12 07:44 PM
Quote from Darthbrooklyn:
Thanks for all the info .. Appreciate it.. now im confused as ever as to what to get to trade equities.
As a little background, I have been trading as an institutional trader for almost 20 years. I am considering leaving the biz and stepping out on my own as institutional commissions have dried up.. So im trying to figure out the best tools to use for equities trading as im not going to pay for Bloomberg and Fidessa out of my own pocket which is what ive been using at work.
Suggest you try both MC and Ninja, feeding them with an IB simulated acct feed, to get a feel for which suits you more.
Both platforms are free for charting... IB basic feed/platform I believe is $30, waived if you generate commissions - Both are good products, as I mentioned earlier it is a matter of personal preference.
If you prefer a more professional solution, I believe X-Trader and CQG Trader are also good products, albeit at a higher price point...
Additional Note as an FYI:
Multicharts has a free Web product which is suitable for Equity research and they are offering a reduced equity feed fee of ~ $15 month for exchange data / Free Bats data
[Historic is a bit lacking, but then again it is primarily for short term analysis and monitoring]
I use it often as a backup for EURUSD and Equity's when away from station [ Futures data are Daily charts only, but price is realtime]
https://www.tradingview.com/e/
Welcome to the retail world, good trading to you...
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johnstac
Registered: Feb 2006
Posts: 69 |
08-01-12 11:20 AM
Quote from NinjaTrader_Ray:
You would purchase real-time data from eSignal. Before you commit, I suggest you check out www.kinetick.com which is 1/2 the price of eSignal per month. You can then connect NinjaTrader to Kinetick for data and charting and if you want, you can also connect NinjaTrader to Interactive Brokers.
In fact, you can get started with NinjaTrader/Interactive Brokers right now at no charge since NinjaTrader is a free platform if you don't execute live trades.
Instructions to connect NinjaTrader to Interactive Brokers - http://www.ninjatrader.com/Connecti...ction-Guide.php
Can I get some clarification on this setup. If you use TWS to execute the trades, do you also have a real time quotes from IB or just Kinetick? I'm just trying to get setup also and need to know what additional services I need from IB?
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Laissez Faire
Registered: Sep 2010
Posts: 4153 |
08-01-12 11:49 AM
Quote from Darthbrooklyn:
One question i have is if i get E-Signal , but use IB as the executing broker, who do i buy the real time data feed from? IB or Esignal?
Regarding your original question it really depends on your needs, what you want to do with the software and what kind of trading you are doing. Personally, I don`t like the charts from TWS and that`s why I have been using NinjaTrader as my front end. I don`t have any complaints with NT, but I`ve been told that Multicharts may be a better platform in the same price range.
Data from IB is free, so you really don`t NEED an extra feed per se, unless of course you want higher quality tick data and historical data. If you want to use accurate tick charts and volume charts, the feed from IB will not do.
I would recommend that you consider IQ feed as your data provider. My impression is that it is a better data provider than eSignal. Possibly cheaper as well if I`m not mistaken.
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NinjaTrader_Ray
ET Sponsor
Registered: Nov 2005
Posts: 427 |
08-01-12 01:47 PM
Quote from johnstac:
Can I get some clarification on this setup. If you use TWS to execute the trades, do you also have a real time quotes from IB or just Kinetick? I'm just trying to get setup also and need to know what additional services I need from IB?
If you use TWS, NinjaTrader can us it's data to drive charts and analytics. TWS does not support historical tick data thus if you required that you would need Kinetick.
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Xspurt
Registered: Jun 2009
Posts: 1781 |
08-01-12 02:09 PM
Darth, as Laissez Faire says it depends on your needs. What time frame are you trading? Unless sampled data is not sufficient as you are trading ultra fast or you have calculations that require every tick then the free data feed from IB is fine and you won't need anything else.
Take a look at Sierra Charts for chart trading on IB as it rechecks the data every 5 seconds. eSignal can sure choke up in a fast market while IB runs with the move.
Again hard to advise when we don't know how you trade but more than likely that will cover your charting and execution needs without using eSignal. Also check out the complaints on ET re. eSig so you are aware of the negatives to determine if that impacts you.
Take a free trial of SC and see what you think.
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