I`m using IB directly for my order entry and ask myself what is the advantage using third party platforms like SC, NT, Multicharts, Medved Trader, Motivwave. For charting i`m using TC2000. Can someone explain this to me? Thanks
Easier programming, better backtesting, more reliable indicators and faster download of historical data although not in Ninja Trader's case. Ninja Trader's downloading of historical data is slower than that of IB's.
This I will agree with. Ninja server are the sux on historical data downloading. They are basically forcing everyone onto NT8. Bastuds.
And NT8's no better. It will never be better because they want you to buy 3rd-party data where they get a cut. Bastuds is right!
key reason is that ib's data is unreliable historical data is limited to one year. they have a pacing violation, which restricts api requests, even if you extract their data feed with a 3rd party software ib is a comparatively value retail broker. most will still execute with them, but look to 3rd party data sources n platforms for realiable data if you r a daytrader only needed limited data, ib's data may be enough. if you r a long term trader needing more than a year data, or other data like ticks n volume by price, or customized studies or scanning. you will need to look outside ib
I fear that you might be misinformed. I do download historical data for periods covering more than one year through their API.
Thanks for this info. was researching on multichart's forums & saw that a fourmer asked ib in 2015. ib said they have 5yrs historical data, but limited to weekly n monthly bars. for minute bars, daily bars, only up to 1yr has this changed?
You just have to query based on pacing restrictions, I have no problem with it, although it takes longer to get the data. Also, the 1 year data limitation exists for intraday data and you can make multiple queries, not a big issue.
I query about 2 years of data, daily, routinely without issues. For smaller timeframes you split up the queries.
remaining polite, & at the same time still get an idea of qualifying size, will a portfolio margin account cut past the 1yr restriction?