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Hello Dick,
I am glad you made this post. I had typed up a reply earlier and
Netscape Crashed so I will make a few brief comments.
I think the server farm helps with reliable connection to PCQuote
service and has nothing to do with the ability to handle heavy volume
days on the exchange.
You can use the ticker with the inside market and the regionals to have
almost Level II for free.
Yes I agree that under heavy volume days the quotes fall behind. But
everybody else does too. This is a technology problem that I hope
somebody will solve someday.
I also am keeping things in perspective. If 95% of the days PCQuote
provides great performance I am not going to complain about the other 5%
of the times. I pay $75/month for a RT data provider which is better
than Signal and several others. If PCQuote is having trouble on a heavy
volume day, so are the other vendors. So try to keep things in
perspective. How many professional brokers were there that couldn't even
get a quote in our last mini crash. Many of them-let alone make a trade
for their clients. We are on the fore front of technology and can't
expect vendors to do what we want until the technology catches up.
I too have talked to technical support, development, at PCQuote and they
said that the packets do get sent out. If they get lost it is our
problem. On a busy day check the messages in you MSG app. It will say
things like data backed up, dumping buffer, etc. SO again this isn't the
fault of the vendor. For me it goes back to technology (not
computers-but modems speeds, bandwidth,etc).
Also look at what you pay a month for data compared to me. Subtract the
difference and see if those few days where volume slows things down and
you can't trade is more or less than the amount of money you might make
or lose in the market those few days.
I have found that the quote window is almost identical to Datek on a
normal day for giving bid and ask. The regionals can be a bit slower.
The ticker window with the last price and volume helps me and pretty
much keeps up on heavy volume days. (too a point.) This will give me
direction-heck with the bid and ask. I think the big thing is to build a
system of in-expensive backups. Aside from the charts in Excel, the DDE
link can be to another server. Different from the one that PCQuote real
time uses. Hence another backup.
Yes CNBC is faster on the market indexes. But I am more concerned about
the general direction. Most stocks don't turn on a dime if the DJIA or
NASDAQ pulls back. Most traders are trained to wait until some trigger
occurs. SO the small delay is irrelevant since it might look like the
top or the bottom for me but in actuality the market movers were waiting
for another signal. Big deal I am looking for patterns and how my stock
reacts to the major indices. (Note I am charting the indexes with the
DDE link to Excel.)
The big thing that Excel gives me is the ability to use the data (market
breadth & indexes) on another computer that is networked. Because the
file is saved it is slightly delayed by 20 seconds plus whatever delay
there is from CNBC.
I don't play options so I can't comment on them. But what it sounds like
you really need is a good inexpensive backup to get option quotes. Even
your broker should be able to give a current quote prior to your order.
(Like I use Datek, if all else fails.)
Another option would be to use Excel to bring in the option prices and
then do some experimenting to see if that might help.
Dick if you plan to keep PCQuote, I am willing to try to share ideas
about how to create backups for some of the problems we run into. If you
also think you would use Excel DDE link, I'd be willing to send you some
files.
I will admit that Excel isn't the best. But I am patiently waiting for
MS RT and hoping that PCQuote will be a vendor.
Again with proper backups and keeping thing in perspective I think
PCQuote is the best around for the $75/month. I have seen an improvement
in their service and they have improved their customer service. For me,
as long as they continue to make an effort to make improvements in their
service, they are worth staying loyal to.
Well I had better go.
Again thanks for sending the post. What ever you decide to do I hope you
get the problem resolved. It is annoying.
Harley
Dick wrote:
> Hi Harley,
>
> I've had PC Quotes for about a year now, and it's worked great during
> the
> "bull" months (of course, it's not really need when everything's going
>
> up)...The increasing market volume has really magnified it's bandwidth
>
> weakness though, and although we've been given those little e-mail
> assurances that the server farm is up and running, the times when you
> need
> accurate quotes the most, finds the data feed sadly lacking.
>
> (I'm going to explain a little more, because this is probably a topic
> of
> interest to more than a few here, and I can probably save them money
> by
> relating my missteps through the real-time data minefield. <g>)
>
> As you know, the least risky time to enter a buy order on a big down
> day is
> at the first big "trough" when the panic (read: volume) peaks as the
> price
> gaps down at the open. This usually occurs during the first 30-45
> minutes of
> the trading day, and if you enable the S&P futures ($55 extra exchange
> fee)
> it usually gives you the leading edge of market direction. (I don't
> like to
> use the PREM or $sps (S&P futures premium to the cash market) alone,
> because
> it only gives you the static picture, and doesn't show the "speed" of
> the
> peaks and valleys like the chart does.) But at the bottom (heaviest
> volume)
> the feed slows due the bandwidth, and you had better not depend on it
> for
> timing buys.
>
> If you enable Nasdaq Level 2 ($50 pc quote/$50 exchange fee) you can
> see the
> size and depth of the inside market, as well as the identity of the
> sellers/buyers. This is very useful too, IF it all works and you get
> the
> information promptly and in the right order.
>
> Now the problem.......PC Quote Nasdaq L2 is frequently *behind* the
> time and
> sales list ! And as you've probably noticed, the PCQ version of the
> Dow,
> S&P, and Nasdaq figures shown on CNBC are several seconds behind, even
> on a
> LIGHT trading day.
>
> I can't tell you how many times I've place limit orders on Philly
> exchange
> options (i.e. Dell calls/puts) and not gotten filled, simply because
> the
> darnnit PCQ turbo options ($50 extra) is dragging the market too. How
> do I
> know ? The broker I used to use for options would put me hold while
> placing
> the order, and they had a live mike on the floor (for on-hold
> customers
> entertainment I guess <g>). Even though I'd place a limit at the
> "natural"
> bid or ask, I still wouldn't get filled because the prices had moved
> so far
> while the PCQ version of it was waaayyyyyyyy off, even on lighter days
> !
>
> And the reason I mention the Philly exchange in particular, is that
> it's
> suicide to place a market order on the Philly, unless you like paying
> the
> highest price printed that DAY........guaranteed ! I eventually went
> to
> placing RAES market orders on the other exchanges, but the turbo
> options
> package is anything but "turbo".
>
> I naturally have called PCQ tech support, and inquired what the
> problem
> might be, and they told me it was my internet connection or
> computer..........Soooooo, after a blindingly dull sampling of every
> ISP
> available, I finally got cable modem, and after wondering if my
> Pentium 133
> was the bottleneck, I finally bought a Pentium II 300 with AGP
> graphics and
> 128 meg (as discussed earlier this year)
>
> Nope. That wasn't the problem. It's still slow to update.
>
> (Just for reference, I downloaded the 13+ meg MS Internet Explorer 4
> update
> yesterday from the MS Redmond Washington high bandwith site, in
> ........ahem.......6 minutes ?) I don't think my ISP is the problem.
>
> Sorry about the long post, but I think it's important to realize that
> a lot
> of the up and down intraday swings in recent months are generated by
> notoriously fickle momentum players and to be "late" is to be "dead",
> if you
> catch my drift.
>
> BTW, Datek executions are MUCH faster with cable modem.........like
> you
> said, they seem to get real time quotes out faster than PCQ........I'm
> not
> sure I can get DTN or BMI out here (because they strip data on local
> cable
> channels) but I think I'm going to go without the Nasdaq L2 (which
> they
> don't offer) and just get the fastest prices I can find.
>
> Dick
>
> PS. The Excel DDE linking is slower than the Real Tick III
> charting.....I
> don't know if short-term matters to you, but I try to keep the saying
> in
> mind, "Sell when you can, not when you have to."
> On a down day, I can usually break even or even show a small profit by
>
> buying at the right place on the troughs and being ready to sell at
> the
> peaks. If it turns out to be a turnaround day (like yesterday) you can
> do
> pretty well if you correctly judge the capitulation point (like -269
> <g>)
> and buy into the mess.
> But for that, you need REAL real-time data.
>
> From: Harley Meyer <meyer@xxxxxxxxxxx>
> To: Dick <dick@xxxxxxxxxxxxx>
> Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> Date: Friday, December 19, 1997 9:47 PM
> Subject: Re: Downloader Question
>
> >Hello Dick,
> >
> >I too have PCQuote and I have felt that they are actually getting
> >better. Now that they have the server farm. I however in my infinite
> >wisdom have chosen the $75/month service. I can do more in Excel than
>
> >what I could do with the canned charting program they offer for
> >$200+/month.
> >As far as the quotes they do get backed up some times. If it gets
> real
> >bad I'll check the quotes on Datek. Since Datek is very good when it
> >comes to the big volume days I have a good free backup. But for the
> most
> >part I have felt that they are making improvements in this area as
> well.
> >
> >Some areas that can add to this problem is how far off the internet
> back
> >bone you are. The others are phone line quality, modem speed, memory
> and
> >CPU.
> >
> >Not to turn this into a debate about PCQuote. My guess is that since
> you
> >are paying for the top service you are expecting better service.
> While
> >me paying for the $75/month service I am a little more tolerant. For
> >$75/month it is probable the best service. And you know (I hope you
> >know) that it is faster than Signal and a few other ones out in the
> >market.
> >
> >Sorry to hear you are having trouble and I hope you get them worked
> out.
> >
> >Harley
> >
> >
> >Dick wrote:
> >
> >> Richard, do you use the paid real-time version of quotes plus, or
> do
> >> you
> >> just use the free version on the web ? I've got PC Quote via the
> >> internet
> >> (because the satellite footprint doesn't extend out here, but it's
> NOT
> >> real
> >> time, even though it costs 3-400/month. In fact, I wouldn't
> recommend
> >> PC
> >> Quote internet to my worst enemy, even if I had one !<g>
> >>
> >> On heavy volume days like today, it is suicide to trade the PC Q
> >> internet
> >> version data (it literally stopped dead today at the bottom)
> >>
> >> Does anyone have a more robust real-time system that costs
> something
> >> south
> >> of a bloomberg machine ?
> >>
> >> Dick
> >> -----Original Message-----
> >> From: Richard Estes <restes@xxxxxxxxx>
> >> To: vitaly@xxxxxxxxxxxxx <vitaly@xxxxxxxxxxxxx>;
> chipa@xxxxxxxxxxxxxxx
> >>
> >> <chipa@xxxxxxxxxxxxxxx>
> >> Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> >> Date: Friday, December 19, 1997 9:10 AM
> >> Subject: Re: Downloader Question
> >>
> >> >Quote plus and TC2000 PRO
> >> >Richard Estes
> >> >-----Original Message-----
> >> >From: Vitaly Larichev <vitaly@xxxxxxxxxxxxx>
> >> >To: chipa@xxxxxxxxxxxxxxx <chipa@xxxxxxxxxxxxxxx>
> >> >Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
> >> >Date: Friday, December 19, 1997 11:59 AM
> >> >Subject: Re: Downloader Question
> >> >
> >> >
> >> >>Chip Anderson wrote:
> >> >>
> >> >>> ... Does anyone else use a data provider that automatically
> >> updates
> >> >>> symbols for them? ...
> >> >>
> >> >>QPlus.
> >> >> Cheers, Vitaly
> >> >>
> >> >
> >
> >
> >
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