Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Apologize for opening a new thread, I believe the info requested should already be nested somewhere here at futures.io but I was not able to find them...
I'm not American and also not very familiar with all the brokers and discount brokers available on the market.
I'm currently testing Sierra and for the time being it seems to me a very nice platform, very little resource consuming, very customizable and capable to deal with ticks and volumes data.
From what I read here and on their website, the best and most user friendly datafeed for thier platform is their own datafeed.
First question: Does anyone ever compared the 2 combinations:
a) Sierra with Sierra Realtime datafeed and
b) Sierra with CQG data provided by a broker
and what were the results?
I ask it since I found pretty discounted options available from, for example, AMP (Sierra package 3 + CQG data @ zero monthly fees, or package 5 + CQG data @ 25$/month), however I couldn't find any broker offering Sierra AND their own datafeed. Am I wrong? (that was the second question, by the way).
Purchasing subscription and datafeed from Sierra will be at least a couple dozens of $/month more expensive. It's not that we become poor just for that few hundreds of $$ more per year, but mainly for sake of curiosity I was trying to understand better the situation.
The next, third and fouth questions, are maybe the ones that most puzzle me... what are, in few words, the advantages of using CTS with Sierra?
I admit that I don't know the products and services offered by CTS... I assumed it was a datafeed and a platform (T4).
But Sierra is a platform itself, and I found threads where Sierra is not exactly advising to use the CTS datafeed.
If this is the case, what advantages could possible give me their combination, that seems to be popular among some users? (third question)
However I see sometimes CTS advertised as a "low latency order routing"...
Is it something that I need? I mean, without CTS if I connect Sierra with IB, AMP, Optimus, etc what's going to happen? My orders will reach the market a few milliseconds later? And if yes.... why?
In other words, the multi-faceted fourth question is maybe just an extension of the third... what's exactly CTS and who would benefit from their use?
Thank you!
Can you help answer these questions from other members on NexusFi?
Let me just address some of your questions. First, we all use third-party connections for the most part. Some broker do use their own API, but we use CTS, CQG, and Rithmic. From a latency standpoint, each feed many functions differently because of your connections, but for the most part, all three provide a solid foundation for execution and latency.
CTS was offered recently with SC because SC made their own configuration for bracket server side OCO. They like this solution because they provide their own data, but the execution is via CTS.
If you use CQG via Optimus/AMP you can use the CQG credential and log in to many CQG platform for free, such as their desktop. iPhone, etc.
Rithmic allows you to connect to Sierra and their own platform R Trader where you can see (in my opinion) better accounting for your trades.
Essentially, each one offers a different advantage, so there is no "best", you just have to choose what is right for you.
Best,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I only can talk about my experience and facts that happened when we used CTS as datafeed for Sierra.
First of, we finally broke up with Ninja and went to Sierra about a year ago. We all know, that Sierra is one of the very best platforms, so i'm not gonna praise them.
We started with AMP Futures as a brokerage and CTS as a datafeed for Sierra. The whole setup went thru Optimus Futures, Matt is a very good adviser and helped us to choose the right broker/data for our needs, i really suggest to talk to him first, before you make any decisions.
We wanted a very fast execution for our futures day trading and CTS was the best choice. Yes, CTS has an excellent and lightning fast execution rate, but.... on the downside, we ran into the same problem twice and we decided not to stay with CTS anymore.
What happened is that we cancelled a pending order, so it correctly disappeared from the platform and showed no active orders at the broker (AMP), but the cancelled order stayed active, opened and as a runaway position was just running in the "background", so AMP could only see it after their daily statement came out. It was too late already, the trade went into a decent loss, but AMP was able close it next day. After the investigation we were told, that CTS's data server failed to report the cancelled order, failed to report the open order and then the open position to AMP, therefore AMP couldn't see or do anything until the next day, even if their statement came out earlier.
Of course, CTS couldn't do anything, they said they didn't have access to our account.
This issue happened again with another instrument, we cancelled a pending order, AMP didn't see any open orders or positions, but when AMP's daily statement came out, it was showing the open position. We called AMP trade desk to close the trade, they said they cannot see it, so we had to wait till next day morning, until the advanced trade desk were able to close the runaway trade - so basically nobody had control on a runaway trade, which was running without any protection orders.
We asked again, what happened - same thing, CTS data server failed to report first the cancelled order and then the open position to AMP.
We gave up with CTS, but we kept AMP and now we have Sierra's own datafeed with Rithmic for a couple months already - we had no issues so far, very good execution, too, no glitches.
Bottomline, Sierra is a very very good choice with it's own datafeed - but i would talk to Matt / Optimus about the brokerage choice.
Zolie, we apologize for the trouble you went through. My suggestion is always to have a second platform that you can plug in your credentials to liquidate or see the trades. For example, Rithmic is viewable on R Trader. I encourage every trader to discuss a second route for trading if possible and the cost involved. Many times, it is free depending on FCM and routing technology.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I can't compare any two datafeeds but only speak to my experience so far with sierra and CQG through AMP. Because I already had an account with AMP and CQG for ninjatrader, hooking up to sierra was easy. The cost is less than using tradingview for profiles. At this stage I'm only using it for analysis of the hkex indices and I execute through cqg and jigsaw daytradr, with confirmation on my iphone through CQG Mobile. So far so good and I'm damb impressed with the stability and resource use.
I totally agree with you, If you use broker or data feed works only on SC you will not be able to close or monitor your position throw mobile or tablet or if needed.
I have been using CTS for about a year now. I just stopped using them this week and I'm relieved I did. Not only was I paying between 500-1200 dollars a month but the system is very buggy. The customer support is second to none and open 24/5 but the bugs and data feed delays are totally not worth it.
Sierra is awesome !! THE PRICE IS UNPARALLEL
I pay CqG 25 a month plus data and the 35 a month for package 5. Sierra is not user friendly and will take you a while to figure it out but once you do you will be happy you took the time to learn. It's so customizable and very robust. Donyour self a favor and get Sierra
I've found that Rithmic's feed is the best due to the depth of market info that it shows. I've also used CQG and OEC (Gain), neither compare to Rithmic on Sierra Charts.
I use Rithmic's R | Trader for order entry. I don't trade directly from Sierra yet, although that may change in the future. The ability to do so will be there if you are using your live data feed account to power the charts on Sierra.
You miss 100% of the shots you don't take. - Wayne Gretsky
I have some users that do not see the full 10 level deep on Rithmic. I tested the API on its native app R Trader and I see more than 10. Is there a feature on Sierra that limits as to how deep you want to see the level of the DOM? Rithmic says its Sierra, Sierra says its Rithmic. Can you please post your DOM here? I would like to show Sierra and Rithmic that some users do get it.
Thanks,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
