NexusFi: Find Your Edge


Home Menu

 





External Level 2 data to augment TWS and TV platform


Discussion in Platforms and Indicators

Updated
    1. trending_up 5,136 views
    2. thumb_up 3 thanks given
    3. group 2 followers
    1. forum 1 posts
    2. attach_file 0 attachments




 
Search this Thread

External Level 2 data to augment TWS and TV platform

  #1 (permalink)
vluskr
Perth, WA
 
Posts: 6 since Aug 2021
Thanks Given: 7
Thanks Received: 3

Hello All,

Might be a strange question:

I trade (very beginner level) with IB TWS and use TradingView for charting. IB Level 2 data seems to be not of much use what I blame on their way of packaging it. I wonder if there is a way to get a separate data feed from some data provider and have some DoM from that provider to put next to my trading desktop? E.g., on my screen I'd have my TWS and in a separate window DoM from another source?
I went to CQG and Rhytmic websites but could not decipher whether such set up is at all possible and what would be the cost implications.

Thanks!

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Cheap historycal L1 data for stocks
Stocks and ETFs
About a successful futures trader who didnt know anythin …
Psychology and Money Management
What broker to use for trading palladium futures
Commodities
Trade idea based off three indicators.
Traders Hideout
Better Renko Gaps
The Elite Circle
 
  #2 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
Elite_Member
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532

Yes. Easiest way and cheapest in the long run is to open another brokerage account with a company that has no inactivity fee and a small minimum balance, say $500 as people now open accounts and start trading low margin micros. Then you just pay a small fee each month for the data fee for the exchange you want.

Another alternative is to sign up to the Kinetick data feed which with the basic fee and an exchange will probably cost about $100/month. The Kinetick feed only works with the Ninjatrader platform. Their DOM didn't used to have a great reputation but could be better now. The platform does allow other indicators to be bought to add to it though, or some platforms like Jigsaw can connect to it so their DOM could be used.

Or sign up to a data feed such as DTN IQFeed which is more expensive, probably closer to $200/month, but that can connect to lots of different platforms and provide data in to them.

Or if wanting to use a heatmap chart rather than a DOM, one could try Bokmap and then you would want Rithmic data as they provide full visible depth for some instruments such as ES and NQ. They have Rithmic data available on their site in the Market Place for $39/month per CME exchange.

Just a couple of ideas.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Reply With Quote
Thanked by:




Last Updated on August 15, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts