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I recently have moved from the hectic pace of day trading and am now position trading. Since I am placing trades MOO after EOD analysis I wonder if I really need the RT data.
It is a day trading throw back that I want to see the price at the moment but do I really need it. My plan is to just place the trade MOO.
Has anyone done position trading with EOD vice RT and what do you think?
Can you help answer these questions from other members on NexusFi?
My medium and longterm trading is more successful if I forget about intraday charts and only rely on end of day data. As end of day I use the closing time of the former pits (eg. 1.15 pm Chicago Time for grains).
Once in a while I get into or out of a trade because of an intraday price move. More often than not this is a wrong decision.
DeCarley and Interactive Brokers allow for trading without having real time data. IAB will give you a warning, but you can overwrite it. (As I work with more than one broker I do not buy RT data for all of them.)
yes, I only do analysis with the data in Omnitrader and trade it at (IB). I can link my platform to IB and trade directly but I am only trading EOD so just trade manually in IB.
Found out this morning that there is so little $ difference in having EOD vs RT is isn't worth it to not have RT.
