Does anyone know which platform I can use to get the fastest quotes and order execution? I currently use TradeStation and want to know if there is something faster out there.
Zen-FIre or any RIthmic based feed is pretty much as good as it gets. Sadly the Ninja-Trader software used for those normally is pretty - hm - good for people without demands, to formulate it nicely. And RTrader (The rithmic "equivalent") is basically an order management platform - quotes yes, charts no, automation no.
Given the fact that many of us are precluded for practical and economic reasons from HF/HS trading I am seriously looking at location as an enabler rather than platform. A friendly BT engineer informed me of two locations in my area where I would experience extremely low-latency on a leased BT line and as I am not a multi skilled coder/IT type this looks like the prime solution for me.
Actually this makes sense... or not Seriously. From your home you are always limited. But if you get into a data center (get a virtual server) you get high uptime and great latency basically for free CHoose one close to your exchanges, network wise, and you are pretty good to go.
I will need office space in the next year or so for another purpose but the idea of a dedicated box on a leased line a few hundred yards from an exchange does appeal. The virtual co-location route would be a practical solution for many of us, and cost wise not out the way when you consider the cost of maintaining x2 lines and upgrading hardware frequently. Even as a swing trader but with ever growing volumes I can see clear advantages.
I am currently using TradeStation with Brighthouse/Time Warner cable internet connection. I am usually trading the CME ES contract and am based in Michigan. How can I tell if I am getting the fastest speed data and execution possible?
Well, you can not without through tests from your end. You definitely do not get the fastest POSSIBLE - but do you care? Fastest possible would be special software (possibly running aginst Rithmic API - they are damn fast), colocated at the CME (around 1500 USD per month per rack unit) giving you less than 10ms latency. The main question is whether you would care. I personally do not - my algos dont try to play on that level so colocation at the exchange is not necessary. That said, for reasons of common sense I colocate at my already existing data center cluster - basically half a dozen servers for my company, where I have set up a couple of larger virtual servers just for trading). Gives me pretty much 100% guaranteed uptime and no problems with the internet connections Automated trading from home is - hm - "tricky" 24/7 thanks to - well - the fact that your SLA's all the way to the technical provider suck. I dont like 2 days without internet, having a diesel generator in my home for power outages etc.
Get away from TradeStation to start, They are known to lose total connectivity every once in a while and nobody answers the phones. So eventually you will be left completely high and dry, and hope you have another broker to hedge your open position in ES or with SPY. They are dumping RJO and self clearing this month, that does not give me a warm and fuzzy feeling. http://i45.tinypic.com/1563hft.jpg TS charts are pretty but not a professional outfit as far as execution. I am 100% happy using Ninja Trader/Zenfire through Mirus/RCG. As far as charts, there are a few choices, Ninja Charts are just ok. Try Sierra, very easy to set up, and as nice as TS.