Interactive Brokers & Level IV™: Real Time IB Trading Now Available on Level IV™

Hello Again bears21 and Bob111,

As to our Data Source:

Because of the way our platform takes advantage of the available data, we are not able to use IB’s data stream. We buy a consolidated data stream from Telvent DTN so that we can relay more data at once to our subscribers.

Some of the features that set us apart from everyone else require that all of the Level I and Level II data be sent to Level IV at all times. This lets our traders easily use all of this information in new ways for Alerts, patented Indicators, and consolidated views of Market Maker activity.

This way we can present a side of the market that has not been presented by anyone before--a collective analysis of ALL Market Maker activity on every symbol at once. To do so, we need to calculate real-time summary information on every Market Maker's every action on every symbol, and then calculate further information off of that.

This results in several dozen new tradable indicators based upon Market Maker activity.

Our idea was that if you can clearly see what the Market Makers are doing, along with being able to immediately tell when there is an imbalance between the supply of any stock and it’s demand, you would be able to better anticipate what was going to happen.

Regarding Order Routing:

As with all brokers, this is limited by the interface provided by Interactive Brokers. While the IB API does support routing instructions, we have not implemented it as of yet. It is currently in Beta and I will let you know when it is available for subscribers.

As an aside, I would like to personally invite you to attend our class on the Level IV Montage, next Thursday, so you can see why it was so important for us to develop our own data feed. I’ll post a link to the course here Monday, so you can register if interested.

Thank you again for the comments and questions they bring up,

 

Can Level IV be used with options on stocks or is it limited solely to stocks?

I see nothing about options in the videos or on the website.

 

Hi Smile,

At present we offer Stocks and Indices data. Options and Forex are both on the horizon, with roll-out anticipated in 2013.

I'll be sure to announce as soon as they are available.

Thanks for the question,

 

Hi Evan,

Is IB the only broker currently available? If so, when and which other brokers will be added? Also, has this software been thoroughly tested?

Currently, Buttontrader is the best in class front end for Interactive Brokers in my opinion. Please compare and contrast your product to Buttontrader and explain why your product is worth 2-3x more per month.

Many thanks.

 

Evan,

Are you going to roll out futures soon?

 

Hello Again Smile,

Yes our Broker Interface is throughly tested.

We currently offer direct trading with both IB and MB Trading.

We also have Channel Partner Relationships with Ameritrade, E-Trade, and Lightspeed Trading and expect to roll out direct trading on each of these in the next few months.

As to futures, we expect to add them in 2013, as soon as time permits.

I took a look at Button Trader and it looks like it serves a particular pupose, but I haven't has a chance to do a point by point comparisson. Give me a day or two to take a better look at it and I'll try to provide that for you.

Thanks again for the questions,

 

Hi Evan,

I have watched most of the youtube and website videos. They are quite well done and informative. Many thanks for your efforts.

In the videos it is stated that more videos will be made... especially a part 4 of : The Count Window™ - The Count™ Statistic: Part 1 of 4. Is this video available? If not, when might it be available?

Also, The Level IV Montage™ - Six Patented Views Into Market Maker Activity. This video mentions additional videos on each of the 6 parts of the montage.

http://www.youtube.com/watch?v=LbnwiAf8JuQ&feature=plcp

Finally, this video: Symbols & Lists: Part III - Scan Entire Markets For Symbol Selection talks about scans but using yesterday's data. Please help me understand why yesterday's data instead of today's current data or a choice of yesterday's or today's.

http://www.youtube.com/watch?v=MmXyf2okimg&feature=channel&list=UL

 

Hi Smile,

Regarding our Training Videos

Thank you for the positive feedback smile. I made those videos myself . Video editing is a new skill-set for me, so it's great to get some feedback.

Videos take substantial time to make. While we have the rest of them scripted, I have to squeeze in the screen captures, editing, team review, re-editing, and sound laying between my other responsibilities. Right now the videos explaining the six views of the Level IV Montage™ in more detail are on my priority list, and I'm experimenting with a new format.

Also, last week we switched our Live Trainings over to the Oracle WebEx platform. This allows me to record them as they happen. My goal is to capture some good presentations, so I can make the trainings available on demand to people with schedules that prevent attendance.

Look for at around two new videos per month over the coming months, more if possible.

Regarding Symbol List Scanning

Per your question I spoke with our lead programmer about the Symbol List Scanning Technology.

There are over 30,000 available Symbols with our data exchanges. We use end of day data from the previous day for these scans so we have a consistent search result.

Most of the fields we currently scan on, such as Price/Earnings Ratios, Market Cap, and % Held from Institutions, are relatively static, meaning the data is not updating much every day, certainly not throughout the day.

Other fields, such as Volume, Price, and Price Change can change every second. For example early in the day Volume would be really low, and then increment.

Our Programming Team felt it was most practical to use yesterday's data for these scans, and focus on many of the other innovations we wish to add in the meantime.

Program development is an endless and iterative process. Imagine it. Make it. Make it Better. Make it Perfect. We have a few hundred more improvements in the Queue, so it's all a matter of time.

If we get enough customer demand to make a given change or improvement, we aim to be responsive.

Our goal is to "Give Traders the Tools They Need."

Thank you again for your interest,