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In a message dated 97-10-04 18:10:56 EDT, you write:
> There have been several posts recently regarding intraday tick data. Many
> of the questions/issues deal with how to get missing data. But, I have not
> read the discussion about what the data is used for. I assume that the
> intended use is paper based chart analysis and/or system development and
> testing. In my experience the tick data obtained from from BMI (and I
> suspect most other data providers) is not suitable for those purposes.
>
Tom's post was quite interesting. His points about using the data for
systems, just servers to further convince me automatic trading systems aren't
the way to go for daytrading.
What I use the data(BMI Cable) is to day trade S&P and currency
futures. I don't have a real problem with it. I have compared my data tick
for tick with satellite users and found it identical. Have also compared
with my brokers CQG and its right on time and tick wise. Bad ticks are
recognizable if one watches his tradable and gets a feel for it. If you
don't and just react to the computer signals, good luck. I keep a 1 tick
chart around for just that purpose, and can spot and fix them in
tradestation. I know quite a few daytraders using BMI with tradestation,
and yes we all occasionally have the problems mentioned. Doesn't stop any of
us. Of course non of the people I know use computer systems to trade with.
Pete
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