Other datafeed  [SOLVED]

Questions about MultiCharts and user contributed studies.
evdl
Posts:401
Joined:19 Jan 2011
Location:Netherlands
Has thanked: 85 times
Been thanked: 123 times
Other datafeed

Postby evdl » 09 Sep 2016

At the moment I use IB as broker and datafeed. Looking for another datafeed, for example IQfeed.

i trade futures (DAX, S&P)

A couple of questions I have is:

Is there noticable difference in quotes?
If so how do you deal with that. If there is a difference, say 1 point at one moment, and you use marketorders to enter or exit a trade. I assume you would be filled at brokerprice and not at IQfeed price (the price that is on the chart on which you base your trading decision).

Anyone have experience with this?

sptrader
Posts:715
Joined:09 Apr 2010
Location:Colorado
Has thanked: 480 times
Been thanked: 263 times
Contact:

Re: Other datafeed

Postby sptrader » 09 Sep 2016

I have used IQfeed for many years (10+) with IB as my broker and have no problems... IQfeed works great with MC... (I trade ES - CL mainly ).. no data conflicts, great fills. IB data is sampled not tick by tick like IQfeed is...

tony
Posts:420
Joined:14 Jun 2013
Has thanked: 30 times
Been thanked: 80 times
Contact:

Re: Other datafeed  [SOLVED]

Postby tony » 12 Sep 2016

At the moment I use IB as broker and datafeed. Looking for another datafeed, for example IQfeed.

i trade futures (DAX, S&P)

A couple of questions I have is:

Is there noticable difference in quotes?
If so how do you deal with that. If there is a difference, say 1 point at one moment, and you use marketorders to enter or exit a trade. I assume you would be filled at brokerprice and not at IQfeed price (the price that is on the chart on which you base your trading decision).

Anyone have experience with this?
If you trade something very fast like ES then your market order may fill with a tick of slippage depending on how far you are located from the exchange. Whereas with something slow like ZB it's less likely. So the answer to your question on filling on the quoted price or the market price is really a function latency and how fast you generate and send an order.

As for who to go with data I also love IQ but it may be more than you need. If you trade based on daily candles for example then you likely don't need unfiltered data that IQ offers. But if you do, then for $100 a month I love IQ for data and connectivity.

User avatar
arnie
Posts:1593
Joined:11 Feb 2009
Location:Portugal
Has thanked: 481 times
Been thanked: 512 times

Re: Other datafeed

Postby arnie » 13 Sep 2016

Yes, DTN IQFeed is really good feed. Was a client for +4 years.

The thing is, with IQ you can be paying way to much for your real needs.
If you only trade futures and don't need anything else, there are better choices, cheaper choices.

For the past 2 weeks I've been using CQG and I'm amazed how good they are.
Huge historical data, even tick data, which they offer a full year of it.
The feed is free with some platforms and brokers, although you can have an extra commission that can go between $0.10 to $0.25 per side, per contract.

One might think that is too much but it all depends how many roundturns you do per month.
Paying $0.10 per side, per contract, can allow you to do more than 300 roundturns per month and still be cheaper than IQ.
If you do more than 300 roundturns per month than IQ can become cheaper but by then maybe you should lease a seat on the exchange you trade because you would save thousand of dollars in commissions.

So depending of your needs, you can save hundreds of dollars per year on a data feed.

User avatar
bensat
Posts:331
Joined:04 Oct 2014
Has thanked: 46 times
Been thanked: 104 times

Re: Other datafeed

Postby bensat » 13 Sep 2016

.... If you do more than 300 roundturns per month than IQ can become cheaper but by then maybe you should lease a seat on the exchange you trade because you would save thousand of dollars in commissions.
How many seats do they have ..... There are some guys here using MC w/300+ rt's per day. Further it's not the commission only. Sometimes, or better most of the times, its better to trade with the feed you fill you charts. Not possible w/DTNIQ.


Kind Regards

Ben

User avatar
arnie
Posts:1593
Joined:11 Feb 2009
Location:Portugal
Has thanked: 481 times
Been thanked: 512 times

Re: Other datafeed

Postby arnie » 13 Sep 2016

How many seats do they have ..... There are some guys here using MC w/300+ rt's per day. Further it's not the commission only. Sometimes, or better most of the times, its better to trade with the feed you fill you charts. Not possible w/DTNIQ.


Kind Regards

Ben
Here is CME prices
http://www.cmegroup.com/company/members ... g.html#cme

A lease will cost between $300 and $1600 a month.
It depends what you trade. If you only trade eminis i read the lease is around $400 a month.

For those interested, your broker should facilitate all the paper work for you.

evdl
Posts:401
Joined:19 Jan 2011
Location:Netherlands
Has thanked: 85 times
Been thanked: 123 times

Re: Other datafeed

Postby evdl » 13 Sep 2016

Thanks guys for the info.

I do about 10 trades a day. If the circumstances for my strategy are not there, I sometimes do some scalping. Hence my question about the difference in quotes between external datafeed and the broker datafeed. But I have a idea now what to expect.


Return to “MultiCharts”