IB w/ QuoteTracker

[funky]

I'm looking into setting up a very lean but reliable trading system for just trading the SPY. So far, I have found that IB with QuoteTracker for charts seems to be the best tradeoff for cheap but reliable trading.

I have a quick question about the fees, for those of you who trade with IB. I really like www.traderguard.com interface for execution on IB, but I was wondering -- do you have to pay fees to get the lvl2 info for this, when QuoteTracker will already do this for me? Or should I just get a chart feed for QuoteTracker (like IQFeed) without lvl2 info and order the lvl2 info from IB?

I'm a bit confused to what data feed I need to setup for each part of the system...my goal is to get a cheap but reliable trading system w/good intraday charts. I only use an MACD with 34ema in a few different timeframes, so I don't need anything special. QuoteTracker w/IQFeed looks good. I just don't know if I also have to pay for an additional feed from IB if I want my execution system working with the lvl2 info (being able to have the buy/sell button track the current bid/ask).

thanks!

 

[j_medved]

I cannot comment on requirenets for traderguard, but for QuoteTracker, you do not have to sign up for Level II from IB to be able to trade - the trading is not tied to Level II in any way. You can get the Level II data from IB, IQfeed, MarketFeed, Money.net, etc. - It would work in QuoteTracker.

IB Level II is very good, though a bit pricy. You can get the IQFeed trial subscription - You can always try a different datafeed later within QuoteTracker by just changing the data source.