Latest opinions on TDA/TOS DOM lag?

Discussion in 'Trading Software' started by golem, Jan 7, 2012.

  1. golem


    I've had investment and swing-trade accounts with TDA since it was Datek. When circumstances allowed I spent time with RTI and MBT for active equities trading. Now that I'm "retired" and have the time required to devote to intraday trade equities and futures I'd like to know if there remains any validity to the claim of TOS data or software being laggy? If so, has it been determined if it were the actual data feed or the software as culprit?

    The reason I ask is all the visual examples of the, at the time, undeniable lag is from at least two years ago. Many of the strictly verbal or written claims could be attributed simply to the bad taste that some may have been left with during a "bad period" while TOS was in transition. I sure would like to keep consolidation to one broker but not if it means at the expense of trade performance.

    Any opinions appreciated.
  2. it depends how what time frame you trade in (e.g. if you scalp and/or use tick/volume charts then i strongly suggest you buy a separate data feed from iqfeed or kinetick if you use nt). the data feed you get w/ your broker like ib or tda (former tos) is adequate IF you are trading on a higher than 1 minute time frame.

    re commissions, if you want to be responsible for tda making a lot of money, by all means trade futs there. there are much cheaper alternatives out there (ib, deepdiscounttrading, velocity to name a few). if you save $1 per rt over X number of rts per year that's a lot of money.
  3. I am not a daytrader, but I have watched the TOS quotes for years, and I can say they are much better now than before. I agree with Frank that if you are a scalper then the data feed from most brokers will be inadequate and you have to pay for a good one. As far as commissions at TOS you have to negotiate to get a reasonable rate.

    The only way you are going to truly know for yourself is to put up two platforms side by side and watch them for awhile.
  4. Funny you mention this because over the last month things seemed to have improved although volatility isn't what it was and volume has been down with the holidays and all but hey no crashes! But a couple months ago I would have a limit order sitting there and I think it didn't get filled after the price touched or even when through my price and then it would my way so I might chase a bit and take it atm and then like 30 secs later I get another fill on the limit order that I had .25 cents ago. Not exactly the way I want to add to a winner. I'm talking CL I never have problems with any currency futures. And when I run OEC and TOS next to each other the price bounces a shit load more one tick one way or another with OEC which I find annoying but if you watch the order flow thing next to the DOM in TOS you still see the orders going through but the price on the DOM doesn't change as fast. So I guess it all depend on your trading style. I use OEC for scalping and TOS for position trading and hedging. In the end it all evens out and I make peanuts while my brokers make 50k a year off me lol!!

    As far as commissions go if you are now day trading with decent activity just call them and say hey lower my commissions and they will. I'm not even sure what they start accounts at now and I'm not totally sure they still do this with the TDA buyout but it's worth a phone call.
  5. golem


    Much appreciate the replies!

    Beginning to come to the realization that seeing is believing so, as stated, it's probably best that I sample a few alternate feeds and software for real world comparison.

    My targeted trade style is definitely not scalping as, for example, with the /ES I would always be targeting at minimum 1 handle. I'm sure I'm a bit rusty at lightning execution but a tick slip either way or chasing to get out because the data is mush could be significant over the long haul...typical trader concerns.

    As for TDA's fees, they are a true detriment to the bottom line but as has been stated I'm banking on the ability to negotiate fees. If denied it would be a deal breaker. Their margin requirements are high but should have no impact on my trading so can overlook that negative.