old trader is dead on. esignal sucked in heavy markets for years. And most vendors are worse than esignal. when volume is heavy I want to know where the market is, very few platforms consistently answer that question. If you method requires you to step aside from volatility then you might love esignal or some of the other vendors I used.
Facinating. Now it's turned into a bash-thread of a third-party providing an actual rt feed. jem, I expected more. Osorico
You're certainly entitled to your views osorico. And I am sorry to have lost your respect for having expressed my own views. But as a long time trader (nearly 40 years), I hold the view that one doesn't need each and every tick to be successful at trading. Do you really think a guy like Soros for instance is focused on each tick? Or that his decisions are somehow less worthy if he doesn't see each tick? There was a time when Ed Seykota did not look at the market during the day at all (I don't know if this is still the case, but chances are that it is). Do you think that T Boone Pickens is worried about whether he has every tick when he says oil is going to $70 before $50? Come on now, you know he bases his trading on something entirely different than ticks. In fact Osorico, I think I could successfully argue that most of the really big, successful traders are not trading for ticks. In fact, I don't know any, but perhaps you can enlighten me on that. I also don't think there is much argument that in times of heavy trading, that many of the data feeds which show each tick get bogged down and lag. This is not mere supposition on my part. I've had it happen to me many times with ESignal. And I've read about the lag with other data feeds during those times as well. A data feed that does not appear to lag during such times is IB's. Now, as with most things in life, if there is an advantage to something, there is a disadvantage. IB does not produce each and every tick. They take a snapshot every 1/5 of a second. Because of this, they don't have the same problem as let's say ESignal during heavy trading times like after a Fed report. But the problem they do have is that they don't provide every tick...and there are bound to be certain purists who believe you require every tick. So that seems to be the argument in a nutshell. I'm simply making the argument that I personally don't need every tick to make my trading methodology work successfully. I think that argument has some things in it's favor. But again, if you really believe you need each and every tick, then the IB data feed won't cut it. Stop to think about this though....providing tick info every 1/5 of a second you aren't missing much. But this failing is offset at certain times because the feed does not lag. Now, if you disagree with me, that's your right. I will say however that I've had almost 40 years to reach certain conclusions....and this was one of them. It was not a "evangelical defense" of IB or their data feed. I just don't happen to believe that missing a few ticks is going to be mission critical. OldTrader
If you are happy with IB, more power to you....no need to defend it to me....I could care less what anyone else uses... You keep suggesting that if my system requires accurate data, I need a new system...not at all....I just prefer accuracy where available and 2 ES points a month for accurate data isn't a big deal to me.... I also enjoy my broker answering the phone on the second ring when my computer or ISP crash and I have trades on...call me crazy..... Just in passing, if 2 ES points a month is a big deal to you, perhaps you are the one in need of a new system...
This thread isn't about trading style. It is about the fact the IB data feed is NOT a true real-time feed. Your mention of the old-school market titans means little. One could speculate with a high degree of certainty that the data feeds coming into their offices are true RT data feeds. And therein is the point... Whether or not they "need" every tick is meaningless. Maybe they do maybe they don't. But they "want" every tick available in the event a "need" arises. This does not make their overall style of trading any more or less valid than a trader who does "need" every tick. But you seem to think it does. Im sure you are a wealth of information given your years of experience, and my hats off to you. But there is no valid reason, other than complacency, why a firm touted as "the professional's gateway to the world's markets" should not be called out for providing inferior data, which clients DO pay for. And as an aside, just to enlighten, here are 2 links (there are others as well) illustrating the "need" for ticks. http://www.bizjournals.com/sanjose/moneycenter/story.html?id=3498 http://asia.reuters.com/article/bankingfinancial-SP-A/idUSL0432482220070404 It's called high-frequency trading. It's where the new-school titans reside. It also represents a significant portion of trader job openings, not that I care about that, other than it is clearly who my opponent is or soon will be. Good trading to you OldTrader Osorico
I think I already acknowledged the type of data feed IB provided. But hey, you're welcome to continue to make the point. But while you're at it, you might go on to make the point in fairness that most (if not all) of the so-called "real time data feeds" are not real time when the volume is heavy...when they start to lag. That's part of what you and Houston Mark are paying a "couple of ticks" for. ESignal is only "real-time", when nothing is going on. As to those "new school titans" you mention, TradeBot in a good year maybe grosses $10-15 million according to the article. After that he pays his overhead and traders. He's doing well....good for him. But Osorico, please let me know when he makes a billion or two like some of the "old school" guys. LOL! So far, this guy doesn't make a pimple on their ass. Your second link is interesting in it's automated trading...something that evidently IB excels at with what you evidently feel is an inadequate data feed! I don't do any automated trading. And finally, again, "inferior data" when nothing is going on. Just let the market start moving on heavy volume, let ESignal start lagging....then tell me all about "inferior data". Good trading to you...thank God for some of you new school guys and the liquidity you provide. OldTrader A member of the Old School
I agree...2 points is not that big of deal for accurate data. But I notice you don't mention how accurate it is when your data provider is lagging. LOL. Either way, I don't care what you use...makes absolutely no difference to me. But my guess is that you THINK you need the "accuracy" because you're trying to make a point or two. Great way to make a living. Lousy way to make a fortune. But hey..what do I know? OldTrader
Absolutely nothing about how I trade....but that doesn't seem to slow you down... Price data accuracy and data lag are totally different concepts....however, a lag of some number of milliseconds at report time doesn't affect my trading to respond to your comment....
Here's what you said in one of your earlier posts: Sounds like the data feed has everything to do with your trading. Perhaps you could clarify the seeming contradiction in your two statements. OldTrader