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Brighton
Experience: Intermediate
Platform: NinjaTrader
Trading: FESX, ZB, ZN, FGBL
Posts: 8 since May 2011
Thanks Given: 0
Thanks Received: 2
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Hi all,
This is my first post on this forum, I read a few articles on this webiste and I like it very much already.
I've been looking for an orderflow software showing volume traded split by bid and ask for market delta purposes. I was advised to enter the futures.io (formerly BMT) forum to find out more about the GOM ladder, which I was told is free to download once I pay $50 for futures.io (formerly BMT) forum membership subscription.
I have a few questions regarding the IT systems I need to use the GOM ladder efficiently.
I currently use Ninja Trader7 (I own the lifetime license) with Trading Technologies feed and the broker Velocity Futures, and I have Windows 7 64-bits.
For maket delta purposes, I read I need a very good feed tick by tick to ensure the correct volumes are shown for bid and ask.
I read on other forums that TT feed is not perfect for bid/ask volume analysis. Is this something you could confirm?
I am quite happy with the TT feed I have for execution puposes, it's very fast but I am not an IT specialist and could not tell if it is suitable for bid/ ask volume work with the Gom ladder.
I am a retail trader trading from home but I visited a prop firm, and the scalpers over there were using X-Trader with TT feed, they were very happy with TT feed and I am sure it was definitely tick by tick since they were scalping for 1 tick based on DOM analysis, Times and sales and they were able to see the order number / position in the queue etc etc.. However, I am not an IT specialist and maybe the TT feed they had in the firm is a different feed from the one I receive in my home? There was a whole room dedicated for servers and big computers at that prop firm so maybe their TT feed is lot different from mine?
So I'd like to know if it's worth paying for another feed, I read Kinetick is very good, I was told it is the same as DTN IQ feed but it is cheaper because it can only be used with Ninja trader. So far so good as I use NT7.
The question is, would I see a difference between TT and Kinetick for market delta analysis with the GOM ladder? For example, it would not bother me much if for a 5 mins candle Kinetick shows 3000 on bid and 2000 on ask compared to 3015 on bid and 2005 on ask for TT. But of course if TT misses a tick that was traded heavily, say I am missing a tick where 500 lots have been executed and TT says 1500 on the ask instead of 2000, then it would be a big problem as my reason to initiate a trade would be based on a volume that is very wrong percentage wise.
Is TT compatible with the Gom ladder?
Is Kinetick compatible with the gom ladder?
If I pay for Kinetick to feed the gom ladder and draw the bid ask volume charts in the Gom software, will I use the same feed to trade with NT7 or will I continue to use TT? i.e I still need to populate the NT DOM with prices and trade from the DOM for execution purposes, I also need to get the usual charts in Ninja in 3 mins candles for example.
Also, where can I find more info on the GOM ladder? Is this easy to install? I am unable to code or program anything so I need a user friendly sofware ready to be used.
Thanks
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