Is Interactive Brokers good technology?

Is Interactive Brokers good technology?

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No technology is good

then why are you here??

An attractive trading terminal is not going to make you any money.

>attractive trading terminal
looks like shit.

It is actually quite catastrophic in at least three respects: a) Their data feed is only a snapshot of the untampered data feed off of the exchange where a given asset is priced. This by itself is not even that big of a problem nor is it a rarity. It's the way the feed has been crippled that makes it near unusable for quant finance on the one and - connected with this, of course - low timeframe trading activity on the other hand. b) Their API sucks big time. Documentation and especially support for any questions concerning the API is McCarthy-era sane. c) The TWS itself is an abomination.

Please let me know should you want me to expand on anything in particular.

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Thanks for the reply.
1. Are there better alternatives for retail traders?
2. What do you mean the feed has been crippled? Data is filtered out? Too much lag?

There are better alternatives, but you won't get one in a all-in-one-package from one vendor. What professional retail traders usually do is choosing one company as their broker (IB btw is perfectly fine when being used solely as a broker), grabbing the real time data feed from another company, (maybe) purchasing historical data from yet another company, buying research/live news data from numerous different companies. This is actually, one could say, how it's done.

IB's 'real time' data feed is notoriously bad. This is well known in the industry. It is not a continuous stream but a pulsed snapshot imagery with much data 'error correction'/smoothing going on. What you receive is not what happened at the exchange as a 1:1 reproduction of reality. It can only be viewed as an interpretation, a crude model of said reality. in short: The data quality is shit, because it is a) pulsed, b) a snapshot of the market due to interpolation and therefore an interpretation of reality.

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I can only speak for futures markets here: Futures markets are a bit different from equities markets. This will result in more players you have to concern yourself with. You will, of course, need a broker, the FCMs (futures clearing merchant),So to help you with your needs, you have to state what asset class(es) and what market(s) you are interested in...

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Is it okay if you're not doing HFT?

I mean IB is the standard for retail traders, from what I understand. I guess it's "good enough"?

HFT would never touch the IB real time feed. I would not recommend you to trade on market data provided by IB. As I said, I cannot provide you with better alternatives if you do not state what assets/markets you interested in and 'yes' there are better alternatives for probably in most of the cases the same money out there.

Speaking brokers yes, but for sure this doesn't go for their terminal nor does it hold for their data services.

Thanks! How can I make myself attractive to prop shops? I'm an average programmer in his 30s with some C++/Haskell/Python experience, but never worked in finance. Any kind of GitHub project or something?

I am sorry, I noticed my wiriting is kind of fucked up. I was drinking heavily...so bare with me.

If you're from the US and you're indeed in your 30's + you have not worked in finance before, then forget about this career way. You're absolutely unattractive for quantitative trading firms. They will not hire you. It's gone.

Nothing wrong with pursuing a career in asset management, developing trading algo's by urself or trying to get into the industry by entering, well, let's say in a job NEAR the front office or the quants.

How do you even find out about the quality of IB's data feeds? Is it something you noticed yourself, or read about it?
It seems like you could have to do some statistical tests on it to really see any difference yourself.

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In direct delta comparison of example data sets there's nothing left to be desired in terms of getting an idea about the underlying quality. Yes, I did this by myself, and again 'yes' others in the industry did, too. I really do not understand why you're trying so hard to hold fast with IB. This begins to smell like laziness or wrong guided way to safe money on your side.

TWS is literally the ugliest, shittiest, most retarded and unintuitive trading platform on the planet.

ToS or kys.

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I'm a hobbyist sitting at home in a comfy chair with little money and no desire to do HFT. I'm not going to spend thousands of dollars on special feeds or rental server space near exchanges.

I don't even have a winning strategy yet, this is all daydreams at this point.

Only because they have the cheapest commission. $0.0035 per share compared to TD 7$ per trade, or most others Fidelity/Schwab $4.95 per trade. everything said is true.

IB does not have tick by tick data. they do 4 price updates per second. if your'e scalping or doing intense day trading it's not ideal. for swing trading it's pretty meaningless.

>I'm not going to spend thousands of dollars on special feeds or rental server space near exchanges.
It doesn't cost thousands. IQfeed is $87/month.
Then again if you'll try to compete with HFT firms you'll get BTFO regardless, so don't even think about it.

Plz don't fall for either side of the memery: 'If it's pretty it'll make you loose money!' vs. 'If it looks like coming from 1990 it has to be shit'. Both is not true. Reuters Eikon or the Bloomie both look modern and sophisticated, but are indeed from a programmer's standpoint nothing less than abominations. I do work with both and I am not exactly Jow Forums illiterate myself. Have a look at the VolFix plattform which mimics the Bloomie or at Bookmap: These are each by themselves best examples of scam software trying to push meme indicators or recognizable workflows from other platforms at the cost of even worse programming, performance, UI/UX. On the other hand: Look at AmiBroker, which by no means looks hypermodern. This piece of software is solid. It's been developed by some polish nigger over the last 50 decades and it is a stable piece of high performing software with okish UI/UX.

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I know, that wasn't what I meant. their graphs _are_ extremely horrible tho and nearly unusable. their brokerage is alright. I connect to them via Motivewave to do actual trading.

ToS is pretty good for charting but the platform itself is terrible for executing trades. it freezes during high vol market hours and it causes terrible slippage too.

You seriously mixed sth up there, buddy. It's the other way around: To develop a working strategy is not in the Leibnizian sense of rational work of mind a thing done in solitude in the basement without using empirical data. You will have to pay for empirical data and this is in terms of capital markets real time market data. If the quality of your initial building blocks in terms of data is shit, do not expect a better outcome for any kind of strategy you're coming up with.

No problem with that, but educate urself nigger: Real time data of the most premium tier comes to you for less than 150 amerishekels per month and you really won't have to pick this one.

Charts are not important. Charts are derived concepts build out of real time OHLC tick data. No one uses charts for anything different than illustrating arguments in person to person discussions. Machines don't do in charts or graphs they do in tick data. If on the other hand you're trading in a discretionary way without the help of algos you will depend on charts and you will still profit from better market data if said data is better then what IB has to offer. The lower the time frames you're trading the higher the impact should be.

Their T&S is a pile of shit too, the DOM is completely useless, and the the platform itself is just a giant pile of crap that does not make sense.

I don't use their data either. I use Rithmic for futures which is probably the best thing on the market for retail traders (better than CQG). IQ feed for equities.

I don't scalp though. it's a losing game. far too much jitter. I have a few strategies that work on the multi hourl timeframe that work on the /ES and /NQ and I stick to it. the new index Micros are great for swinging too.

What's the work environment like in prop shops? Is it high tension all the time? Lots of overtime?

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Sounds right to me. Rithmic is a solid choice, too. You're by any chance with Matt...speaking broker here?

Imagine daytrading without insider information

You won't get answered here. go to
elitetrader.com/et/forums/prop-firms.15/
and read the old threads.
elitetrader.com/et/threads/et-hall-of-fame-threads.204669/

Matt Zimberg of Optimus Futures?
Nope I'm with AMP Futures. their support is crap but you can't beat their margins and commissions.
I thought about switching to Tradovate commission free membership ($199/mo) but I don't do enough volume to justify it yet. maybe sometime in the future.
Your'e with Optimus?

I want to learn about daytrading at my computer and the software traders use.. Should I just lurk threads here or is there a good place to start learning?

Not exactly (Eurex and ICE only here), but I was at some time talking to Matt a lot as I was considering playing US markets at some time. As for brokerage: I do clearing directly via HSBC in my country. I'm quite interested in how his brokerage has developed into a well received service oriented alternative for newcomers. Although I really don't know about the pricing - you kinda mentioned this, I guess. If you're not reliant on customer support there's nothing wrong with going with AMP.

again: u won't get answered here, as was already pointing out: go futures.io, elitetrader.com, trade2win.com.

> I'm quite interested in how his brokerage has developed into a well received service oriented alternative for newcomers
I've heard good thing them too, but they were slightly more expensive than AMP. heard good thing about Cannon as well.

>Eurex and ICE only here
I was actually thinking about of (slowly) starting to trade the mini DAX and STOXX 50. maybe the Euro Bund too. any experience with them?

Depends heavily on what your setup is like. Nothing wrong with mini Dax, obviously there are liquidity concerns as it is with any baby contract. Bund is more of a spread trading thing cause of vola. I'm more of a coffee and crude man.

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>coffee
Madman. I've only heard horror stories about the softs.

Good thread. Once again Jow Forums irrevocably BTFO

And they deserve it. But we're not cheap when it comes to research and this is indeed sucking hard on the monies, of course, so I guess it's a trade off to mitigate risk in the end and then you could argue 'why not trade sth less riskier in the first place' and so on. Yeah, I heard it all, and then I will tell you: I can only trade what I understand. I don't know: I cannot trade a bucket of stocks of a single country let alone a basket of stocks of a complex entity such as the EU, because I cannot conceive how to approach a sane way to analyze this mess. Oil, coffee, eur/usd on the other hand? I know where to go to, I know my setups...

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For for spamming so densely, but this nigger here has it exactly right: I was quite active over at Jow Forums, but man, what a toxic waste of zooming crypto kids!

>what a toxic waste of zooming crypto kids
I dont get why they're not separate at this point, like /asp/ was separated from /sp/, or /mlp/, and so on.

This.
Not only is IB's platform design garbage, but their overall platform is just atrocious. The connection is so shit that it's constantly dropping out. This has happened to me in the middle of a trade numerous times. Their price structure is bullshit, since you have to wind up paying for all of the data feeds anyway, so their motto of "trade for less" is true, only if you ignore all their hidden fees. In the end, I just went back to Ameritrade and negotiated a lower rate per transaction.
>No maintenance fee
>No hidden fees
>Free streaming data
>Nice rate for futures
>Negotiable prices (if you trade enough volume)
>Great customer support
>No account minimum

> separated from /sp/, or /mlp/, and so on.

Yeah, there should be a containment area for the crypto retards/zoomers so Jow Forums has an actual chance of survival close or at least conceptually near to what 'business' actually means. I really do not understand how board administration works here. I mean it is not that this is a phenomenon of let's say the last 3 months or so. You'd habe to be blind and dumb not to realize this: There are actual faggots in there, in Jow Forums tearing the actual subject of the board to shreds and transforming it into sth like poor harvesting.

The mods themselves are crypto-tards. They like the board as it is. Sad but true. Non-crypto biz really needs its own board with explicit rules against crypto threads.

No. IB is absolutely fucking atrocious.

I don't know what that distro is, but it looks cool and I want it. Sauce?

Maybe. But it looks better than most of the junk that is out there.

no trolling here: The shit ur looking at is called TWS (Traders Workstation) and it is an abomination made by the jewest of all available human beings namely Thomas Peterffy and his minions of Interactive Brokers.

youtube.com/watch?v=fQa-sx39Ltw

>gimme your money goy, we don't trade against you (we do, but we just blame it on our 'SMART' routing)!...we just shovel poisonous data down your throat to sabotage you every step of the way while charging you for the poison.

just swing trade you retard and save your nerves on scalping and day trading

i love that game i am getting pretty good at it

Oh I see. Well I just want to have that graph thing in my terminal. How do I install this on arch linux?