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Data subscription for NT8 / IB / Convergent Trading


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Data subscription for NT8 / IB / Convergent Trading

  #1 (permalink)
 Deetee 
Amsterdam, The Netherlands
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader / IB /Rithmic
Broker: EdgeClear / InteractiveBrokers / Rithmic
Trading: DAX / (M)NQ / (M)ES
Frequency: Daily
Duration: Hours
Posts: 630 since Jul 2019
Thanks Given: 2,821
Thanks Received: 785

Recently I became a member of Convergent Trading. FuturesTrader71’s webinars have inspired me to explore his trading ideas. His tools look great, but of course come with a cost. As I have a lifetime NT8 license, I’m trying to setup similar charts in NT. I’m also considering to switch to Investor/RT, but would first like to see that I can have success trading based FT71’s trading ideas. I’m currently only trading the DAX (FDXM), but will soon start MES as well (or maybe ‘park’ DAX while I’m training myself).

I tried to setup a Renko chart, but without success (no bars on chart). I’m pretty sure the data is the cause. For Renko I need tick data, correct? I’m currently connected to data from GFIS/Interactive Brokers (Eurex Core EUR 13 p/m & Europe Equity and Derivative Display Value Bundle EUR 12,50 p/m, and some others for US). Besides Renko, I guess to get charts similar to FT71’s, I would need certain in-depth data.

I would like to understand how it works with data. There is historical data (historical prices) and real-time data (current price). For these both I guess I can use different providers. But when becomes real-time data historical data? Is that right after each tick? I assume that buying historical data is not just 1 tick old, but for instance from yesterday (and older).

NT8 support suggests that I should use Kinetick, but that is quite costly (starts at 65 USD p/m). Are there cheaper options available from other providers? I’m not looking for the cheapest option, but just would like to know my options.

And if I would take the Kinetick data, can IB run on the Kinetick data as well (so I can cancel the GFIS data subscriptions I have with IB)? Because I would like to be able to trade using the IB app when I’m not at my screens (NT8 doesn’t have an app).

I hope you can help me out. Thanks a lot

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  #2 (permalink)
 EgoRisk 
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
Posts: 189 since Feb 2017
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I do not have an account with Interactive Brokers ("IBKR") and have no idea why their filtered data feed would not allow you to build Renko bars, but maybe it doesn't. So, I guess, first make sure the data feed is the actual culprit.

Nevertheless, it is widely accepted that IBKR's internal feed is trash.

So talk to your broker about using either CQG or Rithmic. FT touts Rithmic because it offers full market depth whereas CQG only offers ten price levels in each direction. I vote for Rithmic.

But the reason I responded here is that I have no idea why anyone would use Kinetic. I think the benefit is long term historical data for automated system builders?? Idk. I never found anyone say it was good to use.

I think everyone uses Rithmic, honestly. And people who daytrade stocks use dxFeed. Maybe I am wrong on this??

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Last Updated on May 20, 2020


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