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Will IB data be enough?
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Will IB data be enough?

  #1 (permalink)
Elite Member
Spokane Valley, WA, USA
 
Futures Experience: Beginner
Platform: IB, Ninja Trader
Broker/Data: IB/Kinetick
Favorite Futures: ES
 
Posts: 30 since Aug 2012
Thanks: 2 given, 5 received

Will IB data be enough?

For the past few weeks I have been trying to set up a trading account. Paper trading for now with IB/Ninjatrader. I have been following the ES and was given advice by several people to get a more reliable feed. Especially if I want to trade using a 2000 tick chart. More recently though after reading some threads here at Mikes, I may hold off on the ES for now and try an ETF. Maybe graduate to the YM after that. So having said that, should I still consider Kinetick or another data feed? I'm thinking that charts may be just as important for trading ETF's as it is for trading futures but I'm not sure. What do you guys think?

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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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As has been discussed many times in other threads, IB data is not to be used for anything other than minute or daily data (and even then, often reports inaccurate volume data). Tick, range, renko, volume, or other tick-based chart types should not be used with IB data because the data is heavily filtered and snapshot data.

Mike

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  #4 (permalink)
Trading Apprentice
Bangkok, Thailand
 
Futures Experience: Intermediate
Platform: Multicharts, Sierra Charts, Quotetracker, TOS
Favorite Futures: ES, Stocks
 
Posts: 3 since Sep 2012
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Looks like IB data for EOD may be off as well. I have been looking at the daily volume levels of some stocks and IB does not match the others. How significant? My charts in MC from an IB datafeed show AAPL daily vol from 9/26 at 18.98 M. A chart generated by IB's TWS shows AAPL vol of 19.6 M and every other source I look at for AAPL daily vol shows 20.6 M. I did not realize IB's vol data had this much difference until I started comparing to other traders and sources.

I also have to figure out why my MC charts have different daily vol from IB? Probably user error on that one.

ez

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  #5 (permalink)
Error-prone
Bundeburg
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: Fx
 
Posts: 76 since Mar 2012
Thanks: 24 given, 42 received

If you're using Sierra Chart set the IB data to the -TD form of the contract or stock.

True data is sent every 5 seconds and has the "correct" volume. Live data doesn't and I believe IB combine the two to give the TWS intraday feeds. Not sure about end of day.

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  #6 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
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Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
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Please look here as well:

https://futures.io/brokers-data-feeds/22585-unfiltered-data.html#post254477

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.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following user says Thank You to Big Mike for this post:
 
  #7 (permalink)
Trading Apprentice
Italy - Tirol
 
Futures Experience: Intermediate
Platform: Ensign Software - IB - CQG
Favorite Futures: ES
 
Posts: 17 since Aug 2011
Thanks: 2 given, 4 received

I use IB with Ensign Software, using Volume charts only. Dont have any problems, until you are a scalper. I user 5000Volume and higher.
you will miss 5% of the traded volume at the end of the day, but with higher Volume charts like 5000 + you will not see any bigger diffenerce in charts with other real tick feeds...

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  #8 (permalink)
Elite Member
NC, USA
 
Futures Experience: None
Platform: None Yet
Favorite Futures: Guitar
 
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Posts: 403 since Jun 2011
Thanks: 618 given, 193 received

Sign up for a demo account with Zen-Fire (Rhythmic) and connect using NinjaTrader. Easy Peasy.

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