Pit traded data speed vs screen traded data speed

T

Tinkerz

I was told by a trader that pit traded data is ahead of screen based traders by 7-10 seconds.

obviously there is lag, but 7-10 seconds from pit to screen for someone even in new york.

so for example er2 mini futures contract is behind the pit traded contract by 7-10 seconds and the russell index is also behind to?

Is this true

Tinkerz
 
ES seemed instant after I switched from the pit...a few years ago

I am still slow to change and wondering what to do with my Retail Spot Forex when my equity grows...I pity you readers on ET as I agonize over this...
 
patoo

You are missing the point. Think about it a second: if you are a pit trader there is no delay. There MIGHT be many different prices going off between pairs of traders at any moment, doubtful by more than a tick or two yes, but the implication still applies, especially during fast mkts.

Besides these days with globex etc a trade entered into Globex is executed ON globex, so it is mox-nix about price delay from the pits. The price you see on the screen is what you make your decision from.

It is not going to help a persons trading worrying about esoteric side doings when trading, just keep trading and keep correcting the mistakes and someday the bell in your head might ring. It can only get easier if you follow that small bit of advice.

When i go to a dance or a date or even when married a couple times before, i first did not send them to a Doctor for a reading on Heart rate and did not take their pulse. I just took a chance and let the performance make the decision to stay the course or to give her cab fare.

I suggest the same for trading, if the signals are right, go for it. .....:D
 
Well I am talking about price discovery not really time of execution, the price that the MM trades at, how ahead of the game is it compared to the stocking index and the mini futures contract?
 
Quote from Tinkerz:

I was told by a trader that pit traded data is ahead of screen based traders by 7-10 seconds.

obviously there is lag, but 7-10 seconds from pit to screen for someone even in new york.

so for example er2 mini futures contract is behind the pit traded contract by 7-10 seconds and the russell index is also behind to?

Is this true

Tinkerz
More...

This fact is one primary reason for our traders listening to the live "Squawk Box" from the pits. We "hear" long before we "see" what is happening, and, yes, it can make a big difference.

If you're sitting there with your "finger on the trigger" (buy or sell button), and you "hear" something like "Merrill took out all the 1280's and is bidding for more" - while you see 1279.50-1279.75 on the e'minis, you can go ahead and hit the buy button before others see the movement. Of course, not everyone needs that split second edge, but it sure seems to help. If anyone wants to test it, try: www.tradersaudio.com. We've found that Ben Lichenstein has done a great job broadcasting over the last few years.

Don
 
Don

Not saying you are wrong. but more of an inquiry. I used to listen to Ben Liechtenstein ( I think spell ok ) on his squawk box service for approx 3 years before i became more mechanical and dropped the service. From my experience of listening to his calls from the pit and watching and trading the ES (comparison of prices) i never noticed any difference at all in what was being called out and what i was seeing on Trading Technologies platform.

Maybe the service you mention is different, maybe not. Thanks
 
Don,

I would be correct in saying that they are trading different contracts traded in the pits to the eminis for screen traders?

Also I hear that pit traders see a continuos SP500 cash index figure as opposed the 15 seconds bursts on data a screen trader sees.


So if that is true, what do pit traders mainly trade from? SP cash number or SP future numbers? or maybe I should be saying the prefered index value, cash or futures
 
Quote from Tinkerz:

Don,

I would be correct in saying that they are trading different contracts traded in the pits to the eminis for screen traders?

Also I hear that pit traders see a continuos SP500 cash index figure as opposed the 15 seconds bursts on data a screen trader sees.


So if that is true, what do pit traders mainly trade from? SP cash number or SP future numbers? or maybe I should be saying the prefered index value, cash or futures
More...

I can't speak for the floor traders per se' of course, but they have the advantages mentioned above, plus they know the order flow from the pit brokers as well. As in any group of traders, there are "scalpers" and "hedgers" and even "swing traders" (not many of those) who trade in the pits.

Regarding Ben Lichenstein...it's not just the time advantage, but he has a pretty good grasp of the mood of the crowd, and it's nice to hear which big Firm is buying and/or selling.

Don
 
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