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"IB NOT a TRUE real time data source!"
- Thread starter TOM134
- Start date
Quote from nove:
Either you or they may be inaccurate.
What I'm saying is that what IB gives you can be all you need for most traders. It can also be very accurate within the time resolutions provided by the delivery modes.
I understand what you are saying and if you are happy with IB's free data service I am happy for you...may you have more winners than losers....
Quote from nove:
Most traders don't need tick by tick accurate prices. IB will provide u a tick feed with 200ms resolution so it misses some prices.
IB also provides a 5 second bar datafeed that is 100% accurate (well, as 100% as anyone elses) including all prices, transactions, volume info within the 5 seconds.
In both cases the data feeds do not lag during fast markets (unlike, say, esignal) Most traders don't need more than those two (combined or otherwise depending on trading style). [/B]
I'm probably going to be switching from CyberTrader to IB, 'cuz Schwab is stupidly dropping support for the CyberTrader platform. I use CyberTrader's APIs for both data and trading and they're both excellent. What I'd need from IB's data API is up to 2000 US equities snapshot quotes in less than a minute. Is this possible?
Quote from jimcrist:
I'm probably going to be switching from CyberTrader to IB, 'cuz Schwab is stupidly dropping support for the CyberTrader platform. I use CyberTrader's APIs for both data and trading and they're both excellent. What I'd need from IB's data API is up to 2000 US equities snapshot quotes in less than a minute. Is this possible?
Probably not, unless you trade a LOT. The standard limit is 100 concurrent lines of data with more as your commissions rack up but getting to 2000 will be quite a haul.
See:
http://www.interactivebrokers.com/en/accounts/fees/marketData.php
Like you, I am also switching for the same reasons. You should also probably take a look at MBTrading. They have an API that they seem to support, clear through Penson, comparable commissions. I only just started looking at them yesterday so I am not sure if it will meet my requirements yet, but there seems to be a pretty strong user group on Yahoo. I'll be going through all of the Yahoo posts to get an idea on how good the API and brokerage is.
It's too bad that Schwab has decided to kill one of the most trader friendly brokers around.
Echo
It's too bad that Schwab has decided to kill one of the most trader friendly brokers around.
Echo
Quote from jimcrist:
I'm probably going to be switching from CyberTrader to IB, 'cuz Schwab is stupidly dropping support for the CyberTrader platform. I use CyberTrader's APIs for both data and trading and they're both excellent. What I'd need from IB's data API is up to 2000 US equities snapshot quotes in less than a minute. Is this possible?
Quote from HoustonMark:
Thanks for that insight....
I have traded with people who don't get the same highs and lows that I do and are using free IB data....perhaps they didn't know how to set it up....perhaps it isn't as good as you think....it really doesn't matter....you appeared to be dismissing inaccurate prices as if though it was all no big deal....I just happen to disagree....
IB takes a "snapshot" of the trades every 200 milliseconds, which is every 1/5 of a second. The odds of this system "missing" the exact high or low ALL of the time are extremely low.
However, it is true that EVERY tick is not sent under this system, so that a couple of things could be said: first, if your system of trading requires each and every tick, you need to buy a datafeed rather than rely on IB's free data feed. Second, if your system really requires each and every tick then chances are you need a new system. You are truly focused on too much minutia.
Finally, when you subscribe to a datafeed, you may find that during active trading times it may well lag. ESignal comes to mind. So that under this system, you may well be receiving each and every tick....you just receive them with a time lag. LOL! This is because of the bandwidth constraints of providing every tick when you are trading heavy.
OldTrader
Quote from echo33029:
Like you, I am also switching for the same reasons. You should also probably take a look at MBTrading.
It's too bad that Schwab has decided to kill one of the most trader friendly brokers around.
Echo
Thanks for the tip, but it looks like MBTrading would be alot more expensive for me. My share sizes are bigger and the routing fees would kill me. I never realized how great CyberTrader was, until the jackasses at Schwab came along. Looks like it'll take IB, plus a data feed, plus a charting program to replace CyberTrader.
Quote from OldTrader:
IB takes a "snapshot" of the trades every 200 milliseconds, which is every 1/5 of a second. The odds of this system "missing" the exact high or low ALL of the time are extremely low.
However, it is true that EVERY tick is not sent under this system, so that a couple of things could be said: first, if your system of trading requires each and every tick, you need to buy a datafeed rather than rely on IB's free data feed. Second, if your system really requires each and every tick then chances are you need a new system. You are truly focused on too much minutia.
Finally, when you subscribe to a datafeed, you may find that during active trading times it may well lag. ESignal comes to mind. So that under this system, you may well be receiving each and every tick....you just receive them with a time lag. LOL! This is because of the bandwidth constraints of providing every tick when you are trading heavy.
OldTrader
Im not an IB customer, past or present. I have no axe to grind. And up until now, I had respect for OldTrader posts... But,
Who are you OldTrader, to even suggest that a (unknown) tick-based system is somehow invalid and needs to be replaced? In fact this entire post is nothing more than a backdoor evangelistic defense of the issue that the IB datafeed is not a true real time feed. The trader and system in use, as well as reasonable alternatives have been inappropriately slandered. Maybe the reason the IB feed doesn't go down or lag, (yea right), is because it's not a true real time feed.
Osorico