IB Update speed on futures bid ask size insane today?

Quote from OldTrader:
mike, why don't we amend your statement? Why not say that "some professionals", including you, would care? On the other hand, there are some of us, myself included, prefer getting timely quotes (albeit 10X a second) when things heat up, like during a Fed announcement, when some data providers distinctly lag. Some professionals mike, are not trading for ticks so that each and every tick that takes place becomes less important. What IS important is getting non-lagged data.
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Well said, I agree.
 
Quote from OldTrader:

mike, why don't we amend your statement? Why not say that "some professionals", including you, would care? On the other hand, there are some of us, myself included, prefer getting timely quotes (albeit 10X a second) when things heat up, like during a Fed announcement, when some data providers distinctly lag. Some professionals mike, are not trading for ticks so that each and every tick that takes place becomes less important. What IS important is getting non-lagged data.

OldTrader
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I can see what you are saying. Lagged quotes can/could be a huge problem.

Whether one is "trading for ticks" or not, missing the best execution, effects anyones profits.

I personally would not tolerate either of the data provider problems that we have discussed. I guess I assumed that a professional, missing a tick once or twice a month, would find it economically justified to pay for a high quality data provider.
 
Quote from minmike:

I can see what you are saying. Lagged quotes can/could be a huge problem.

Whether one is "trading for ticks" or not, missing the best execution, effects anyones profits.

I personally would not tolerate either of the data provider problems that we have discussed. I guess I assumed that a professional, missing a tick once or twice a month, would find it economically justified to pay for a high quality data provider.
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Here's how I'm looking at it mike: Let's say I'm trading CL, and let's say I miss a tick, but I pick up a $.50-$1.00 move. Per contract, that $10 versus $500-$1000. To me, that's not significant. Now admittedly, some guys are trading for 4-5 ticks in the CL market. Obviously to them that 1 tick might be VERY significant. Here's the rub, even if I knew the tick existed, the question becomes whether my trade would have taken place at that spot anyway. To tell you the truth, after all these years, I just don't know if I'm that good. LOL.

By the way, we also have to assume that the top or bottom tick happens to be the "missing" tick that took place in less than 100 milliseconds. The odds of that happening EVERY time are pretty low. Further, as I understand it, IB now encompasses the high and low of each 1 second bar in their data, so that even though you "might" not see the tick, your chart will reflect it.

Just a different perspective.

OldTrader
 
Quote from OldTrader:

Here's how I'm looking at it mike: Let's say I'm trading CL, and let's say I miss a tick, but I pick up a $.50-$1.00 move. Per contract, that $10 versus $500-$1000. To me, that's not significant. Now admittedly, some guys are trading for 4-5 ticks in the CL market. Obviously to them that 1 tick might be VERY significant. Here's the rub, even if I knew the tick existed, the question becomes whether my trade would have taken place at that spot anyway. To tell you the truth, after all these years, I just don't know if I'm that good. LOL.

By the way, we also have to assume that the top or bottom tick happens to be the "missing" tick that took place in less than 100 milliseconds. The odds of that happening EVERY time are pretty low. Further, as I understand it, IB now encompasses the high and low of each 1 second bar in their data, so that even though you "might" not see the tick, your chart will reflect it.

Just a different perspective.

OldTrader
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I understand what you are saying. The $10 could/would be a very small percentage of what you are trying to capture.
That doesn't change that if you were trading 10 lots or more, a missed tick becomes $100. You miss a tick on a ten lot every other trading day, and that is $1000 a month. That covers TT or some other faster provider. ( I can't comment you on your skill level or any other problems.) :)

I don't chart much, and I don't really think in terms of "tops and bottoms" in the same way as most. I like to have the info as fast as possible, so that I can make the most informed decision as fast as possible. Any slippage from what price I look to get is what I worry about. Your right, the not knowing could lead to price improvement, but in my experience and with my style, it usually doesn't.

It just seems to me that people doing real size would recoup the costs of paying for high quality data. I realize that my style is very different than most. I probably way over pay for my charting for the way I trade. In this business while I try very hard to watch the bottom line, I have noticed that penny wise and pound foolish gets VERY costly, very quickly.
 
I was referring to trading the old fashioned way, by hand, and I defy you to tell me that 3X 5X vs 10X is going to make a difference. I can think of SOME information that could be missed but I dont think thats what is being discussed here.

If you are not IN the market already with a limit order, what diff does it make if a wild tick happens in 1/10 of a second?

If you think you are going to 'see' the tick and react to it , even mechanically , and get filled, I doubt it very much.

Tthe update rate does not affect anyones fills, assuming they are already in the market with a limit order.
 
Quote from jimrockford:

You can adjust the rate at which QT samples data received from your TWS. Perhaps this would solve your problem. Contact QT support to see if they can help you with this.
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Had no problem today, could have been a random event.
 
Quote from stock777:

I was referring to trading the old fashioned way, by hand, and I defy you to tell me that 3X 5X vs 10X is going to make a difference. I can think of SOME information that could be missed but I dont think thats what is being discussed here.

If you are not IN the market already with a limit order, what diff does it make if a wild tick happens in 1/10 of a second?

If you think you are going to 'see' the tick and react to it , even mechanically , and get filled, I doubt it very much.

Tthe update rate does not affect anyones fills, assuming they are already in the market with a limit order.
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I am telling you that I think it would make difference for me. My tech guys kept telling me that I couldn't tell the difference between it taking .03 seconds and .13 seconds. He doesn't doubt me anymore. (That is the difference between the eye that watches every tick open to open, versus the eye that doesn't.)

If it doesn't hold value you to you, don't worry about. I find the wild ticks interesting, predictive and profitable. (Not neccesarily in the way that you are thinking.)
I understand completely about update rate not affecting existing orders. Doesn't change my opinion that it helps me.
 
Talking about the cost of trading, much more important than the cost of the feed is the comm., whereby no pro regardless could use IB when it's index futures comms are higher by $1 than other places!
I very much like to join them specially now with the faster feed but can't justify paying $250 more a DAY.
 
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