Different Data Feeds from Your Charting Platform Vs. Trading DOM

[marker 10]

I currently trade off of my Ninja charts & trading DOM that ties into my account at my broker (Mirus). A one-stop shop.

 

I want to move to a different charting software such Ensign, Sierra or Investor-RT.

Here's is my newbee confusion. I am assuming that these charting software will require me to subscribe to a data feed such as IQFeed. But these charting software do not have a trading DOM to execute trades into your account at the broker. So I am assuming, I will be using my brokers trading DOM to execute trades.

 

To me, it doesnt make sense to execute trades based on a chart that has a different data feed from the brokers trading DOM. Is there something I am missing? wont there be a difference/slippage? or the difference is so minor, its no big deal? I am thinking it is a big deal, cause 1 tick difference could mean a full stop out or not....

[sevensa 10]

I currently trade off of my Ninja charts & trading DOM that ties into my account at my broker (Mirus). A one-stop shop.

 

I want to move to a different charting software such Ensign, Sierra or Investor-RT.

Here's is my newbee confusion. I am assuming that these charting software will require me to subscribe to a data feed such as IQFeed. But these charting software do not have a trading DOM to execute trades into your account at the broker. So I am assuming, I will be using my brokers trading DOM to execute trades.

 

To me, it doesnt make sense to execute trades based on a chart that has a different data feed from the brokers trading DOM. Is there something I am missing? wont there be a difference/slippage? or the difference is so minor, its no big deal? I am thinking it is a big deal, cause 1 tick difference could mean a full stop out or not....

 

Your trades are executed on the exchange and not on your broker's servers/DOM. Your trades will be executed based on the current price on the exchange and not on what your broker's datafeed, or any other datafeed for that matter shows you. The more accurate your feed is, the closer it will match what is happening on the exchange.

[macdfx 10]

Some brokers will hold your order on their own platform and submit it to the exchange when hit. (OEC comes to mind here.... )

[EsotericRule 10]

As sevensa notes, you are better off keeping your data seperate from an entity that can profit from delays and bad data...as all brokers who can take positions opposite yours can do.

 

Use data from proven data suppliers who are in no way, shape or form affiliated with banks or brokerages. They have a vested interest in maintaining the quality of data.

 

Routing your trade where any broker can see it = bad juju. Banks and brokers who trade at 'less than arms length' have a vested interest in skewing data and using all positioning information of their clients to their benefit.

 

Where there's chum in the water...there will always be sharks.

[uexkuell 10]

Routing your trade where any broker can see it = bad juju.

 

So you think a trade can be placed at an exchange (assuming retail level) without first passing through infrastructure of a broker???

 

Sounds interesting, please explain how you think that could be accomplished.

[Tams 20]

...

Routing your trade where any broker can see it = bad juju. ...

 

there are very little privacy on the internet.

you might be surprised,

but your charting software vendor knows more about your account than you realized.

 

Ninja was caught red handed a few years ago when their software was sending private information back to their server.

 

One of MultiCharts' users found his eSignal password in MC's log. Of course MC quickly promised not to do it again in the future.

 

You go figure what software can extract from your computer...

[EsotericRule 10]

I'm quite well aware of the 'two way mirror' that is both the internet and windows...not to mention Java aps. Think of all the money to be made from snooping on individuals settings on charts (especially if that individual is effective in the markets).

 

I found in doing a trace of the hops to TOS that one went to a group of psych. wonks closely affiliated to Euro bank establishments...and its very likely that they are employed as sockpuppets on their 'free chats' on the platform. Another time I was discussing a tech issue and another tech mistakenly enterred the chat. His 'handle'? Solomon Bros Tech.

 

Where there are large pools of money, there are always thieves....and most of them tie back to Rome.

[EsotericRule 10]

Sorry for that, I see what you mean.

 

I meant from the standpoint of using charting and data that they provide or have access to, and where they are able to trade against you.

 

The sole benefit of using TOS as a broker prior to their being purchased by a bank, was that they had no trading arm. One notes how long that lasted.