Direct access speed - xTrader and altertives

Discussion in 'Order Execution' started by adamcholeva, Aug 1, 2005.

  1. I've brought this issue up as part of an earlier post but it was also covering lots of other stuff, so I probably never really got an answer to this particular issue due to my many other questions. Since it nonetheless is a crucial issue to me I'm asking again now.

    So...if you have an explicit requirement of your trading platform having features such as (multiple) brackets and OCA (and have scaling in and out incorporated automatically into that), it would only be the pro version of xTrader that would support this.
    So although the cost of about 1500 USD certainly could be justified by just a rarely occuring better executed trade once in a while - do you believe when looking solely at speed and quality of execution (and getting you in the FIFO globex queu as quickly as possible when amending targets and stop-limits) that alternatives, such as Ninjatrader and Trademawen for instance, with the right feed of-course would do the same job just as well?

    I guess what I'm basically getting at, is if you need some bells and whistles in the "bracket" department and have no need for the many other bells and whistles xTrader supplies, would you be just as well served with some of the alternatives mentioned above? Truth is I actually prefer Trademaven GUI to xTraders for my trading requirements. So what's your take???

  2. I'd be very interested in a side-by-side comparison between TT XTraderPro and other high-end DOME front-ends (Ninja, TradeMaven or Button).

    I have trialed/used most 3rd party order mgmt apps for IB and PATS.

    They can scale-in/out and support OCO barcket pairs. Ninja doesn't support multiple resting orders, e.g. LMT BUY 1210.00, 1208.00, 1206.00 etc active in GLOBEX concurrently, like TM does (I don't use this feature anyway).

    My opinion is that any XTPro advantages (to justify the monthly cost difference) over 3rd party apps would show up only to the high-frequency scalper (over 20-30 trades per day).

    IMO this style would be incompatible with IB anyway, as scalping for ticks would require lower commissions than IB's.

    Still, I often ask myself how a human "micro-scalper" can compete in today's environment against blackboxes, which submitting huge numbers of orders in the queue, canceling them, analyzing order book in realtime, trading both sides of the market etc.

    E.g. in ES I have on occasion submitted a LMT order way in advance and 5+pt away from current price. And when ES traded at my price 1hr later, over 500 contracts got filled before my turn in the queue came to get filled. I.e. the others were sitting there HOURS in advance.
  3. milstar


    Dear Sir

    Can you compare ES against ERTU

    Would small order 5-10 contracts speedy filled after placing ?