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Seeking Suggestions Re Data Feed
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Seeking Suggestions Re Data Feed

  #1 (permalink)
Elite Member
Seattle, Washington
 
Futures Experience: Intermediate
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Seeking Suggestions Re Data Feed

I am transitioning from primarily trading options to primarily trading stocks intraday. A completely new group of resources is necessary for the intraday stock trading (scalps and short swings).

At this point I am leaning toward Sierra Chart for my charting platform, hence I've posting in this Forum. I like the look and feel of SC, their documentation, fast support responses on community board, and I like several of their volume studies (especially those that deal with bid and ask volume).

I have tentatively settled on Interactive Brokers as my broker. Their commission structure and reputation for good and quick fills being the main attractions.

I don't write code; I'm a discretionary trader; I won't be doing backtesting.

With the foregoing in mind, my desire is to select the right (best for my purposes) data feed to run my charts/indicators. I am not reluctant to pay for a premium feed (if I need it). The options most obvious to me are: 1. Simply using the IB data feed; 2. Rithmic; and 3. DTN.IQ. I lean toward DTN.IQ, but wonder if it is overkill for me since I will not be backtesting and probably don't need perfect, historical tick data.

Any and all thoughts and suggestions (on any aspects of the projected resource group) will be appreciated.

This is my 2nd post on futures.io (formerly BMT) (introduction being the 1st), and browsing around has been enjoyable and helpful. It certainly seems a very congenial, well informed group and I'm pleased to be able to be a part of it.

Ged

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  #2 (permalink)
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Los Angeles
 
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Hey Gedman,

You sound like a Big Mikes Trading forum type!...welcome.

I'm a fan of Sierra Charts but just for forex and I use their free feed of FXCM data which I like. If I get into volume studies someday I'll get the DTN IQ feed. Its volume is considered the best but I'm not sure that applies to individual stocks.

If you don't get more knowledgeable responses you may consider posting in the Brokers Data Feed thread:

Brokers and Data Feeds - Big Mike's Trading Forum

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  #3 (permalink)
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Poocher View Post
Hey Gedman,

You sound like a Big Mikes Trading forum type!...welcome.

Thank you Poocher, appreciate the input.

I am taking a look at Multicharts as well, a very interesting platform (with a bit of a learning curve). Never a lack of quality, trade related information that is worth studying - sometimes just a tad shy on time.

Best,
Ged

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  #4 (permalink)
Elite Member
Prague, Czech Republic
 
Futures Experience: Advanced
Platform: AgenaTrader, Track'nTrade
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Gedman,

first of, IB data would not be good enough for any type of volume / delta type studies. DTN IQFeed is considered one of the top feeds for this purpose. I am not sure if Rithmic supports equities at all.
I can highly recommend Sierra Chart (light on resources, very fast, volume studies integration, quick and knowledgeable support, new features integrated regurarly, etc.). Besides Sierra and other obvious choices like Ninjatrader or Multicharts I would also recommend you to have a look at Investor RT. This would me MY choice number one for stocks intraday trading due to superb scanning features.

All of them have some kind of trial.

Good luck!

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  #5 (permalink)
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rani View Post
Gedman,

first of, IB data would not be good enough for any type of volume / delta type studies. DTN IQFeed is considered one of the top feeds for this purpose. I am not sure if Rithmic supports equities at all.
I can highly recommend Sierra Chart (light on resources, very fast, volume studies integration, quick and knowledgeable support, new features integrated regurarly, etc.). Besides Sierra and other obvious choices like Ninjatrader or Multicharts I would also recommend you to have a look at Investor RT. This would me MY choice number one for stocks intraday trading due to superb scanning features.

Thank you rani!

Good point on Rithmic, they may just be futures. Rithmic/Zen (that's how its billed) does presently have a trial with Multicharts and I'm trying that (stocks and futures).

Agree with you that Sierra Chart has some very nice features and a good feel. I fee similarly about Multicharts. I did look into Investor RT a while back and it was, unfortunately, not a good fit for me. Its interface, menus, etc, just didn't click with me, making the learning curve steeper than I would care for. Both SC and MC are more intuitive for me (but there is a learning curve because they have so many features).

I know that DTN.IQ is a great feed, and the feed of choice for certain of the delta studies. That's why I am seriously considering it with SC (or MC) and IB (for the back end).

Thanks for your thoughts and the good word for SC.

Best,
Ged

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  #6 (permalink)
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Ged,

choose whatever software you feel good about. Sierra is great and the more you dig deeper the more you would appreciate it. I am not a big fan of Ninjatrader and Multicharts did not click with me either.

In case you'd go with Interactive Brokers be aware, that DTN IQFeed supports CME exchange fee waivers with IB now. That is a considerable savings for CME, CBOT, COMEX and NYMEX fees, so that you will pay just around $110 for the feed with all CME futures and US equities. I also believe that DTN waives the $50 setup fee for futures.io (formerly BMT) users.

Regards

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  #7 (permalink)
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Futures Experience: Intermediate
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Posts: 48 since Jan 2012
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Thanks rani. I'm with you on Ninjatrader, just didn't click with me. I do need to look very closely at the differences between SC and MC to determine which is really the better fit for me.

I have been in communication with DTN. I think there is little doubt that's the way to go for the data. Thanks for mentioning the CME exchange fees.

Take care,
Ged

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  #8 (permalink)
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- MC/NT - it's a lifetime license with free future upgrades
- SC - no lifetime license

just my 2 cents.

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  #9 (permalink)
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ejtrader View Post
- MC/NT - it's a lifetime license with free future upgrades
- SC - no lifetime license

just my 2 cents.

ej, its an excellent point. All else being equal, the lifetime license (as good as the people granting it) is, financially, a much better deal. That being said, if I conclude that SC offers me (for my individual purposes/trading style) more functionality/a better fit, then I would pay the monthly or annual fee with no problem.

For most traders, their chart platform is their interface with their world of trading and, as such, incredibly important. I have to switch from what I've been using because my trading style has migrated and the old broker/platform no longer provide what I need. I really want to make the right decision regarding the transition (so I don't have to relearn another platform later).

Thanks much,
Ged

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  #10 (permalink)
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Also need to add this:

MC - you can run online on only one computer at a time
NT - live - you can only use it one computer and sim can be on others
SC - you can use it in any combination on 2 computers

Thanks.

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