I have a few questions regarding backup plans. I'll make the questions specific to a setup based on Rithmic (execution) using MultiCharts (order entry platform) at Optimus Futures (broker), but I think the general questions are applicable to any setup.
1. What does a Rithmic "service outage" mean? Does this just refer to the "data feed" or also the back-end "execution platform"? In other words, is the Rithmic data feed separate from Rithmic execution or is the data feed inextricably linked to the Rithmic execution platform?
2. For example, if I also have a real-time data feed into MultiCharts from IQFeed (which can be used as a backup data feed to Rithmic), would I still be able to execute at a Rithmic broker (such as Optimus) using IQFeed data via MultiCharts if a Rithmic "service outage" occurs?
3. If the Rithmic data feed and execution plaform are the same and if I cannot execute at Optimus using IQFeed, then why is Optimus listed on IQFeed's website under the list of brokers offering CME Exchange Fee Waivers?
4. What would be an appropriate backup plan if a Rithmic "service outage" occurs?
I guess 'Stop trading' is always a response to an outage, but part of my trading plan (still in development) is based on entering a trade "cycle" and only exiting after certain conditions are met. In other words, I cannot just exit a cycle early without suffering the consequences, so I would like to better understand my backup options in case of an outage.
Another option may be to use the IQFeed real time data and make trades via the broker's telephone trade desk.??
IQ feed is not execution feed. That is only for historical back fills and it is not a substitute for a feed you can trade on.
If Rithmic is out it could be because it's not streaming to the platform, in this case MultiCharts, or there is an a real outage and the feed is down. For scenario one, I suggest also carrying RTrader which could be used to offset positions you have placed on MultiCharts.
If the feed is down for all, yes you need to phone in and we will help you out.
Call me at 800 771 6748 or 561 367 868, so I can give you a more elaborate explanation about Rithmic.
PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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