Hello! I am planning to start trading (mostly swing trading and in future some day trading on Emini, mini Dow and Eurostoxx) and need some advce on which broker, software and datafeeder to use for my purpose. I am now using Bloomberg, Matlab and VBA/Excel and a trading desk that make the orders but these will not be available soon. Since low commision is important I plan to choose Interactice Broker (IB). As a software I am thinking of Ninjatrader. My plan is to start working with stocks in NYSE (approx 2000 Stocks) and will thus need to have Level1 daily end of day data (15 â 25Y) and intraday real time data for these stocks. Also information about which sector- and insustry group should be available. For history data it should be easy to download to a text file or best if there is a direct connection to Matlab and easy to update on a daily basis (and also if I missed x nr of trading days). I know Yahoo and Google is available for free but not sure about quality and how easy they are to use for my purposes. I am also familiar with http://www.eoddata.com/ which looks interesting. From what I have understood using IB for this purpose is not optimal or maybe not even feasible. I have read about Kinetick but not sure how easy it is to use and if its possible to use in Excel. The intraday real time data have to easily be updated in Excel for all stocks. Using Bloomberg for this task is very easy and hopefully I can find something close to that. As everybody else I want to pay as little as possible More closely here is what I want to do: Assume a very simple strategy, S, that buys when RSI(14) is below 20 and sell when RSI is above 70 (yes I know I will not be rich with this strategy ). I want to apply S on all stocks and my entries and exits are always on close (or near close). I have programmed (in Matlab and Excel) so that I know which level the stock have to reach to trigger a buy (or exit) and thats the reason I want to have real time update in Excel to get a flag for which stocks that are canditates to do at close. From all canditates I apply other filters to finally come up with a list of stocks to trade... If someone have any advice please share. Thanks
For RT Metastock Xenith (actually a hobbled Reuters Eikon) has a 1200 symbol limit for USD150/month if you are Non Pro and links to Excel. eSignal has max 2500 symbol limit and RTD excel link - I have run that number in 32 bit excel no problem. BBG symbol limit maxes out at 500 and is very expensive on top of monthly fee. Note Excel seemingly does not update in tick by tick realtime - it sweeps every fraction of a second it seems. For EoD Reuters/Metastock datalink may be suitable. Others at institutional pricing.
mokwit: Thanks for your input. Miltiadis: News is not a priority at the moment. Guess I can find what I want for some small amount or for free.