Data feeds and execution - CQG, Rithmic, Tradovate (and more?) - futures io
futures io futures trading



Data feeds and execution - CQG, Rithmic, Tradovate (and more?)


Discussion in Brokers

Updated by grayfrog
      Top Posters
    1. looks_one ales19 with 5 posts (3 thanks)
    2. looks_two matthew28 with 2 posts (3 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 bobwest with 1 posts (2 thanks)
      Best Posters
    1. looks_one bobwest with 2.0 thanks per post
    2. looks_two matthew28 with 1.5 thanks per post
    3. looks_3 tr8er with 1.0 thanks per post
    4. looks_4 ales19 with 0.6 thanks per post
    1. trending_up 4,163 views
    2. thumb_up 9 thanks given
    3. group 4 followers
    1. forum 10 replies
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Data feeds and execution - CQG, Rithmic, Tradovate (and more?)

(login for full post details)
  #1 (permalink)
Australia
 
Experience: Beginner
Platform: Tradovate, SierraChart
Broker: Tradovate, AMP(CQG)
Trading: ES, MES
 
Posts: 29 since Mar 2019
Thanks: 6 given, 24 received

Hello, this is my first post here (excluding intro) so hopefully I will not mess up too badly and break too many rules
I have searched the forums and read the threads on the topic I am going to ask about but the info I found was not sufficient for me to get a clear understanding, so here it goes:

I am basically trying to determine the best data feed to use when I go back to trading live and I am trying to get my head around the different facets I need to consider to select the best solution for me. To give context I am focused on scalping and have no automation/algo involved (except an automated stop loss and take profit order entered by my trading platform upon execution). I use Jigsaw Daytradr.

So far I am considering the following 3 data feed providers (CQG, Rithmic, Tradovate) and this is what I found out about them so far:

CQG: solid all-round solution with cheap round-turn fees of $0.20, shows 10 price levels and 1 month of historic tick data, can suffer lags/freezes when market spikes occur, like after a Trump tweet or news event
Rithmic: highly reliable but "expensive" solution at $0.50 round-turn fees, shows entire order book (20+ price levels) but only 1 day of historic tick data, performs great even under high data flows due to news events.
Tradovate: cheapest solution if monthly $199 flat fee adopted (only exchange, clearing and routing fees owed), shows 10 price levels and 2 weeks of historic tick data (as far as I can tell), reliability in high data flows due to news events is unknown

So, from a price point of view Tradovate seems to be the best, however I do not know how they hold up as far as reliability goes.
I know there are other providers like TT, CTS, IQ but they all seemed more expensive without offering any advantage from what I could tell.

Also, I am unclear how execution is affected by the choice of data feed provider?

Any help sorting this out (and correcting any mistakes I made above) would be greatly appreciated.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to ales19 for this post:

Can you help answer these questions
from other members on futures io?
Do you know any futures platform that allows grid automation like shown on this vid?
Platforms and Indicators
Capping Size in Tradestation
TradeStation
Adding Indicator to Watchlist Column
ThinkOrSwim
Degiro Negative Balance Advice
Traders Hideout
QDEL
Stocks and ETFs
 
 
(login for full post details)
  #3 (permalink)
Australia
 
Experience: Beginner
Platform: Tradovate, SierraChart
Broker: Tradovate, AMP(CQG)
Trading: ES, MES
 
Posts: 29 since Mar 2019
Thanks: 6 given, 24 received


I just realised this might be more appropriate in the Reviews of Brokers and Data Feeds section? (which I just discovered)

If so please let me know how to move this across and I will do so.

Cheers

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #4 (permalink)
Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 887 since Sep 2013
Thanks: 2,095 given, 1,521 received

If scalping I would go for the lowest fees.

Not sure from your post whether you have tried the Tradovate 14 day demo. That would be long enough to see whether any issues appear with data lags on news events.
They have a browser version or a desktop version of the platform, to use it with daytradr you will need to use the desktop version. The Tradovate replay is also very good, exactly replicating the live data so you will be able to practice your scalping.

If happy I would then sign up with them and try it for a few days at least before purchasing a monthly membership package just to be sure. Be aware that the $199/month membership is if you sign up for a year of commission free payments. If paying month by month it is $349/month ( https://www.tradovate.com/pricing/ )
The worst that can happen is that you think everything will be fine, then for whatever reason you aren't happy and decide to stop trading live. And so need to open another account somewhere else.

Not an exact answer to your question I know, but just my thoughts.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to matthew28 for this post:
 
(login for full post details)
  #5 (permalink)
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 380 since Jan 2017
Thanks: 0 given, 322 received

Tradovate uses CQG

CQG was the best data-source years ago, but this continuum is just middle-class (IMHO)

for me is Rithmic the best data-source you can get, it is very fast and accurate and it doesn't show 20 price-levels (as you posted), it shows the entire orderbook

Reply With Quote
The following user says Thank You to tr8er for this post:
 
(login for full post details)
  #6 (permalink)
Australia
 
Experience: Beginner
Platform: Tradovate, SierraChart
Broker: Tradovate, AMP(CQG)
Trading: ES, MES
 
Posts: 29 since Mar 2019
Thanks: 6 given, 24 received


matthew28 View Post
If scalping I would go for the lowest fees.

Not sure from your post whether you have tried the Tradovate 14 day demo. That would be long enough to see whether any issues appear with data lags on news events.

Cheers.

I have traded both CQG live and Tradovate demo (I am actually using it right now for testing my revised strategy) and have not noticed any substantial difference on a day to day basis. Since we have not had any major news events this month (at least not while I was trading) I have not been able to test the Tradovate platform "unders stress" though.

In any case, I fully agree lowest fees is important when scalping which is why I was looking into Tradovate, but i got told that Rithmic is the way to go so I was trying to figure out what the difference between these providers really is (or if there is in fact any difference for human/non-algo traders).

Is there somewhere I can get a Rithmic trial?

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #7 (permalink)
Australia
 
Experience: Beginner
Platform: Tradovate, SierraChart
Broker: Tradovate, AMP(CQG)
Trading: ES, MES
 
Posts: 29 since Mar 2019
Thanks: 6 given, 24 received


tr8er View Post
Tradovate uses CQG

CQG was the best data-source years ago, but this continuum is just middle-class (IMHO)

for me is Rithmic the best data-source you can get, it is very fast and accurate and it doesn't show 20 price-levels (as you posted), it shows the entire orderbook

Thanks for the info, did not know Tradovate used CQG. It would explain why I could not see any discernible difference when using one or the other.

As for Rithmic, I corrected the original post to reflect the correct price levels (thanks), but I am not sure I fully understand what you mean by fast and accurate and how it would impact my decision making and/or trade execution?

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #8 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 5,966 since Jan 2013
Thanks: 45,980 given, 20,004 received


ales19 View Post
I just realised this might be more appropriate in the Reviews of Brokers and Data Feeds section? (which I just discovered)

If so please let me know how to move this across and I will do so.

Cheers

The original location, emicro and emini futures trading, was reasonable, but I have moved it to Reviews of Brokers and Data Feeds, which is more specific.

Don't worry too much about breaking rules, so long as you don't mean to.

Trying to do the right thing is always OK.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:
 
(login for full post details)
  #9 (permalink)
Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 887 since Sep 2013
Thanks: 2,095 given, 1,521 received


ales19 View Post
Is there somewhere I can get a Rithmic trial?

https://www.rithmic.com/demo.html

Then enter your Rithmic login details in to the Jigsaw daytradr Connection Manager and you will have Jigsaw connected to the Rithmic feed. Make sure in the Connection Manager that you then uncheck the box for the CQG/Tradovate feed to connect automatically on startup or you will be connected to both feeds. I think the daytradr tries to acquire platform data in the order of the feeds as listed so it could be using the CQG data rather than the Rithmic if you still have that one connected too.

Personally if scalping I wouldn't worry about having more than ten levels of depth on the DOM. It is though very good if using a heatmap like BookMap or the Jigsaw version especially on thinner instruments that can swing around a bit and where you want to see liquidity levels a lot further out, then I would go with Rithmic.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to matthew28 for this post:
 
(login for full post details)
  #10 (permalink)
Australia
 
Experience: Beginner
Platform: Tradovate, SierraChart
Broker: Tradovate, AMP(CQG)
Trading: ES, MES
 
Posts: 29 since Mar 2019
Thanks: 6 given, 24 received




Cheers, I will sign up and give it a go to see if I can notice any difference and write any feedback in the thread.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to ales19 for this post:


futures io Trading Community Trading Reviews and Vendors Brokers > Data feeds and execution - CQG, Rithmic, Tradovate (and more?)


May 23, 2020


Upcoming Webinars and Events
 

NinjaTrader (special webinar #400 w/giveaways)

Oct TBD
 

Bookmap

Oct TBD
 

SharkIndicators

Oct TBD
 

Carley Garner

Oct TBD
 

Ironbeam

Oct TBD
 

Zytrade

Oct TBD
 

GruttePier

Oct TBD
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts