Hi, Currently trading +1k. contracts ES Minis daily. Looking to scale it but currently paying to much in commission's with my broker and also their latency is not optimal. Any suggestions on a better set up for high volume traders ? Thank you
At that volume give Advantage Futures a call. They also have solutions for platforms and connections.
Which broker are you currently using? And what latency are you experiencing? As you probably know, if you do manual trading, latency is the least of your concern.
The latency I am experiencing is the time it take from entering and or adjusting the orders and for them to hit the market from the time I press enter. I do it manually yes and often more than +100 orders day + adjustments so it ads up to a few hundreds of order edit / mouseclicks and it feels like from time to time there is latency issues and room for improvements there.
Have you measured the actual latency? What platform do you use? What data provider do you use? Were are you located and what server do you connect to?
Could it be simple hardware bottlenecks? e.g. https://www.lifewire.com/wired-or-wireless-mouse-2640091 Which side of your platform location would you think houses the major bottlenecks, "Inside or Outside" the Computer/Modem/Router?
Good Morning rb7, Can you please explain why you say this? Why is latency least of your concern if you do manual trading?
Sure. If you do manual trading, you usually go like this: 1) You look at the chart or whatever data representation you use. 2) You think of what you will do based on your system/model. 3) Then you manually enter your order (on DOM or else) with you mouse or keyboard. All those steps will take you what, 1, 2, 3 seconds (if your fast!!). And I'm not even including the time is takes for you application to received and show the market data. So, it's not a couple of hundred of milliseconds that will make a big difference in this case. FWIW, IB round trip response time between the time a market order is sent and the time the fill is received is around 250 ms. If a faster broker exists (very probable), you will save what, 50,100, 200 ms. 100 ms substracted from 2-3 seconds will not make a big difference (percentage wise). Manual trading is slow by definition. But if someone is using a broker that takes many seconds to process and transmit the order to the exchange, then it's another game.