Hi Everyone. I am just starting out in the realm of automated trading. I plan on using either Multi Charts or Ninjatrader to create strategies that will be used for trading US Equities and etfs.
The strategies I will be working on to start out with are based on 5 minute candlestick charts.
If I want to do backtesting and use a test/demo account, would I not need a datafeed?
I plan on opening an account with Iteractive Brokers and I am hoping I wont need a datafeed.
Interactive Brokers offers real-time data and historical data in minute resolution. This is good enough for learning how to use NinjaTrader and MultiCharts. But you will not have access to tick data, so you cannot use range, volume or tick charts.
Also the data quality is not high, as they will not eliminate all false ticks.
However, it is perfectly suited as a start to trading and to test simple automated strategies. You can always add a better datafeed - such as DTN/IQ or eSignal - later.
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