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IB Data Fees vs other brokers
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IB Data Fees vs other brokers

  #11 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,128 since Feb 2012
Thanks: 3,780 given, 7,650 received
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Big Mike View Post
Well, at the very least, your data will be wrong.

Mike


There are two things to separate: first a live data feed and second a historical data database (sic!) to use for backtesting.
As IB is ok for the live signal, it is NOT good for historical usage.
For the backtesting - which MUST have a very exact tickdata - IB is not my choice.
Mike is right with his statement concerning historical data on IB.
Many choices to get great historical data, I chose DTN feed for the reason to get adequate data for the different
futures in the past. This is the only go for my statistics to get best stop places for my trading rules to optimize
the longterm profitablity.

GFIs1

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  #12 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
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GFIs1 View Post
There are two things to separate: first a live data feed and second a historical data database (sic!) to use for backtesting.
As IB is ok for the live signal, it is NOT good for historical usage.
For the backtesting - which MUST have a very exact tickdata - IB is not my choice.
Mike is right with his statement concerning historical data on IB.
Many choices to get great historical data, I chose DTN feed for the reason to get adequate data for the different
futures in the past. This is the only go for my statistics to get best stop places for my trading rules to optimize
the longterm profitablity.

GFIs1

Understood. My point is, if I switch to using the imperfect IB data tomorrow, I guarantee you it will not turn my trading method from a winning system to a losing one, just because the data feed is slightly imperfect. If you are a directional trader, and you find that a couple of ticks difference in 1 out of 20 bars, turns your profitable method to a losing method or vice versa, you will probably not be in this business for long using that method.

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  #13 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,218 received


Plot a chart using tick, volume, range or other non-minute based bars using CQG, Zen Fire, Rithmic, TradingTechnologies, IQFeed, Kinetick, eSignal, or other unfiltered data.

Then plot the same chart using IB. I am talking real-time data.

The IB chart will not match the others, because IB is snapshot data and filters data, drops ticks, etc. And the volume data is also not accurate.

Personally, I would rather have good data and the cost is so tiny that it is a no brainer to get a quality data feed.

Mike

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  #14 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
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Broker/Data: Mirus, IB
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Big Mike View Post
Plot a chart using tick, volume, range or other non-minute based bars using CQG, Zen Fire, Rithmic, TradingTechnologies, IQFeed, Kinetick, eSignal, or other unfiltered data.

Then plot the same chart using IB. I am talking real-time data.

The IB chart will not match the others, because IB is snapshot data and filters data, drops ticks, etc. And the volume data is also not accurate.

Personally, I would rather have good data and the cost is so tiny that it is a no brainer to get a quality data feed.

Mike

I'm not saying IB data is accurate, I know it is not. I am asking the question, does it really matter for most typical traders? I trade as small as 4 range charts sometimes, putting my stops 1 tick behind minor swings, so data accuracy absolutely matters to me. @Big Mike, you trade S/R levels on 60min charts, 240m charts, and daily charts, scaling in and out. If you switched to IB data tomorrow, would the results of your trading method really change that much or at all?

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  #15 (permalink)
Site Administrator
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monpere View Post
@Big Mike, you trade S/R levels on 60min charts, 240m charts, and daily charts, scaling in and out. If you switched to IB data tomorrow, would the results of your trading method really change that much or at all?

No, because I don't use tick based charts. But majority of people on the forum do use tick based charts.

Bottom line for me is this: IB has inferior data. Good brokerage, bad data. No need to give them a free pass. They don't deserve a free pass or to say their data, for tick traders, is acceptable - when it isn't.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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6)
Help using the forum? Watch this video to learn general tips on using the site.

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  #16 (permalink)
Trading for Fun
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these posts have been very interesting discussion to read, appreciate everyones help on this, from what I've read and gathered it appears if I am using tick charts/volume charts, etc. to use another data provider. thanks for the input and help with this.

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  #17 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,128 since Feb 2012
Thanks: 3,780 given, 7,650 received
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Big Mike View Post

Then plot the same chart using IB. I am talking real-time data.

The IB chart will not match the others, because IB is snapshot data and filters data, drops ticks, etc. And the volume data is also not accurate.
Mike

In fact I never used a IB chart...
thus I have no idea which data will be used/ filtered / not used in an IB chart.
Using IB as a solid brokerage is not touched by this anyway.

GFIs1

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  #18 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,128 since Feb 2012
Thanks: 3,780 given, 7,650 received
Forum Reputation: Legendary


monpere View Post
If you are a directional trader, and you find that a couple of ticks difference in 1 out of 20 bars, turns your profitable method to a losing method or vice versa, you will probably not be in this business for long using that method.

Admit - very RIGHT :-)
A system for longterm profitablity should let you staying in the business even if sometimes some ticks will
hit your stops / or not fill your take profit.
So a profitable system needs to be more than "slightly positive".

GFIs1

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