Hello, this is my first post here (excluding intro) so hopefully I will not mess up too badly and break too many rules
I have searched the forums and read the threads on the topic I am going to ask about but the info I found was not sufficient for me to get a clear understanding, so here it goes:
I am basically trying to determine the best data feed to use when I go back to trading live and I am trying to get my head around the different facets I need to consider to select the best solution for me. To give
context I am focused on
scalping and have no automation/algo involved (except an automated stop loss and take profit order entered by my trading platform upon execution). I use Jigsaw Daytradr.
So far I am considering the following 3 data feed providers (
CQG, Rithmic, Tradovate) and this is what I found out about them so far:
CQG: solid all-round solution with cheap round-turn fees of $0.20, shows 10 price levels and 1 month of historic tick data, can suffer lags/freezes when market spikes occur, like after a Trump tweet or news event
Rithmic: highly reliable but "expensive" solution at $0.50 round-turn fees, shows entire order book (20+ price levels) but only 1 day of historic tick data, performs great even under high data flows due to news events.
Tradovate: cheapest solution if monthly $199
flat fee adopted (only exchange, clearing and routing fees owed), shows 10 price levels and 2 weeks of historic tick data (as far as I can tell), reliability in high data flows due to news events is unknown
So, from a price point of view Tradovate seems to be the best, however I do not know how they hold up as far as reliability goes.
I know there are other providers like TT, CTS, IQ but they all seemed more expensive without offering any advantage from what I could tell.
Also, I am unclear how execution is affected by the choice of data feed provider?
Any help sorting this out (and correcting any mistakes I made above) would be greatly appreciated.