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NT8, BookMap & Rithmic data connection question...


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View Poll Results: Am I better off with a 2nd Rithmic account just for BookMap?
One Rithmic connection is plenty 3 42.86%
One Rithmic connection is plenty
3 42.86%
Two Rithmic connections is the way to go 1 14.29%
Two Rithmic connections is the way to go
1 14.29%
It doesn't matter either way 0 0%
It doesn't matter either way
0 0%
I don't know... 3 42.86%
I don't know...
3 42.86%
Multiple Choice Poll. Voters: 7. You may not vote on this poll

 
 

NT8, BookMap & Rithmic data connection question...

 
 johnnymustard 
Las Vegas, NV
 
Experience: Intermediate
Platform: NT 8
Broker: NT Brokerage, IQFeed
Trading: ES, 6E & CL
Posts: 71 since Aug 2013
Thanks Given: 9
Thanks Received: 40

Hello all,
Presently, I'm using NT8 with Rithmic. I use Footprint charts and Volume Profile.
I'm looking into adding BookMap to the mix.

My question is: Will I be better off using NT8 & BookMap with a single Rithmic connection OR
use NT8 and Rithmic (as I already do) and then get a 2nd Rithmic account just
for BookMap? Does it even matter?

Without getting bogged down with details, I use the profile for market context and to provide legit
trade locations. When the price is near a profile provided location, I pay MUCH more attention to
order flow.

I know Rithmic isn't the most popular data provider but I love'em. Changing isn't an option.
Obviously plenty of people like platforms other than NT8 but I love it. Changing isn't an option.
My internet and machine are high to higher end so I'm not too concerned with that.
Paying for a 2nd Rithmic account isn't my favorite idea but if a 2nd Rithmic connection will
considerably improve my setup, then it's worth it to me.

I'll appreciate anybody's 2 cents answering my question.
I thank you & good day, JM

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 markmenard 
Edmonton Alberta Canada
 
Experience: Advanced
Platform: NinjaTrader
Trading: Futures
Posts: 10 since May 2014
Thanks Given: 5
Thanks Received: 6

This is an older thread but if I may ask did you find a resolution to your question?
Also, from what I have read The cost would be the same for data as Rithmic supposedly supports 2 connections under 1 user. Although things may have changed due to CME restrictions requiring 1 to 1 connections. There has been some chatter of getting workarounds to fix that.
I may be off under 2 connection for 1, but this is the avenue I'm currently exploring.

 
 johnnymustard 
Las Vegas, NV
 
Experience: Intermediate
Platform: NT 8
Broker: NT Brokerage, IQFeed
Trading: ES, 6E & CL
Posts: 71 since Aug 2013
Thanks Given: 9
Thanks Received: 40



markmenard View Post
This is an older thread but if I may ask did you find a resolution to your question?
Also, from what I have read The cost would be the same for data as Rithmic supposedly supports 2 connections under 1 user. Although things may have changed due to CME restrictions requiring 1 to 1 connections. There has been some chatter of getting workarounds to fix that.
I may be off under 2 connection for 1, but this is the avenue I'm currently exploring.

Hello Mark, nothing's changed on my end. I like BookMap enough that I'll probably just get it anyway, eventually. I use the free version for bitcoin so I'm fairly familiar with it.

I am getting better at seeing where bookmap levels are using footprint. Obviously can't see them until we get to that price though.

I've never heard if 2 for 1 Rithmic connections. That should be pretty easy to find out. I'll post what I come up with back here.

Thanks for pointing me in that direction, JM

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 markmenard 
Edmonton Alberta Canada
 
Experience: Advanced
Platform: NinjaTrader
Trading: Futures
Posts: 10 since May 2014
Thanks Given: 5
Thanks Received: 6

Thanks Johnny. Cheers.

 
 johnnymustard 
Las Vegas, NV
 
Experience: Intermediate
Platform: NT 8
Broker: NT Brokerage, IQFeed
Trading: ES, 6E & CL
Posts: 71 since Aug 2013
Thanks Given: 9
Thanks Received: 40


markmenard View Post
Thanks Johnny. Cheers.

Mark, I heard back from Rithmic today.

****Here's the email I sent them:****
Hello,
I read on futures.io that Rithmic offers 2 connections per user or subscription.
Is that true?
The issue was brought up when I was asking if it was better to have 2 Rithmic
connections, one for BookMap and one for NT8. Or is it better to use one Rithmic connection for both BookMap & NT8.

Can you confirm that each subscriber has two connections per subscription?

****Here is the reply:****
If you are referring to connections for market data , as per the CME, each connection incurs fees. If both Bookmap and NT8 connect directly to our system for market data then each connection will incur market data fees. If, however, you run R | Trader Pro connected for market data, and then run Bookmap and NT8 connecting to R | Trader Pro for market data, then you will only incur one set of market data subscription fees.

The number of connections you may maintain is set by your FCM. It is not unusual for an FCM to set your user id with a max of 5 connections for orders and a max of 1 connection for market data. You can always discuss with your FCM the number of connections you will need.
****End email****

My FCM is Dorman and I haven't contacted them. I'm hesitant to do so because anybody that makes money from my spending is going to advise me
to go with whatever option is more profitable for them. Or that's my pessimistic view on that. It's also the reason I came here looking for an answer.
Nobody here cares if I'm paying for more than I need or not. I'm looking for the best setup for me whether or not that involves 2 paid connections.

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 Silent warrior 
Boston, MA
 
Experience: Advanced
Platform: NinjaTrader
Broker: Rithmic/IQFeed
Trading: ES, ZB, GC, 6E, CL
Posts: 69 since Feb 2015
Thanks Given: 133
Thanks Received: 13

Hey guys!

Similar predicament. I use NT8 for charting/analysis/execution and look at Bookmap at specific inflection points. I’d like to use Rithmic, as it offers full depth across instruments (not solely ES/CL like CQG Continuum). but Ninjatrader brokerage doesn’t support Rithmic. Any thoughts on a workaround? I have an NT8 multibroker license.


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 Doug Pearson 
Cantonment
 
Experience: Intermediate
Platform: Ninja trader
Trading: CL, GC, currencies
Posts: 17 since Dec 2016
Thanks Given: 8
Thanks Received: 4

Sounds like Rithmics R Trader pro is the way to go to connect Ninja and Bookmap. I am going to look into that using Edge Clear. Thanks for the posts.


 



Last Updated on February 11, 2023


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