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Bbbazusa wrote:
> Traders:
>
> I just found out that a trader, who I respect, does not use, or monitor his
> trades with real time data, even though he has Trade Station.
>
> Interestingly, I have followed comments on Wheat, where the end of dayers say
> sell, and someone who looks at daily charts as well as 60 minutes suggests
> buy.
>
> Which brings me to the point of the value of realtime data.
>
> 1. When I got Real time data, initially I felt guilty if I was not watching
> it every
> minute, and not trading the 5 minute S&P, as I had paid all this money for it,
> and was not getting my moneys worth.
>
> 2. I am now of the opinion that it is an expensive tool, to be used possibly
> for entry and exit. However it is a tool that I am wondering whether I can
> continue to afford
>
> 3. There are End of Day traders who plan everything from the daily chart, who
> would like to position themselves intraday, say at a Fib point and act if
> things look right, as opposed to just putting a stop in the morning and
> checking to see what happened in the evening. Also the wave structure can be
> analysed by going down one time frame
>
> 4. Delayed data - I am not sure is of much value. If you plan to act on data,
> then you want current data, and if you are visual, you need to see the graph
>
> Any comments, pro or con. At present I like to analyse the daily and try and
> position intraday. But the $$$$$$ are a burden according to my wife !!!!!!!
>
> Edgar,
Unitl about two years ago, I had live data for most of my trading career.
But as my trading time horizon expanded, I found that I could get long ok without
live data so I switched to delayed. I do very few day trades or intra-day scalps,
so I seldom miss the live feed. To supplement my delayed data, I keep CNBC on my
TV. So now I save about $5,000 per year before ever doing a trade. If your time
horizon is more than a day, you should consider delayed data as a worthwhile
option.
Regards,
Norman
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