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I'm getting ready to switch from position trading the S&P futures to day trading
and I'm trying to work the kinks out of my data feed plans. My trading style
uses pre-positioned orders (limits/stops) so a few seconds one way or the other
in delay in the quote feed is not an issue for me. I live in a rural area where
summer lightening strikes frequently interrupt or knock out power for anywhere
for a few minutes to several hours. I don't require the ability to trade
continuously, so if the world goes to hell around me I'll just exit positions
and wait for things to clear up. On the other hand, I do need complete S&P cash
and futures data in 5 and 30 minute charts along with a few other major indexes.
Without this intraday data for minimum of two weeks history, I will be unable to
trade. I will continue to do my inter-market analysis on SuperCharts with EOD
data from Pinnacle so a wide variety in realtime data collection is not an
issue.
I need realtime CME, realtime indexes, and delayed other futures and stocks.
Cable company here strings their line out on the ground so I will use satellite
feed. The cost differential between BMI and DTN is significant:
DTN: approx $350 in initial costs + $120 monthly + exchange fees
BMI: approx $700 in initial costs + $235 monthly + exchange fees
Software-wise, Omega realtime products are out of the running and some
interesting alternatives (TradeLab and WoW DayTrader Pro) have not been
released. I've worked with the Ensign Windows demo for several days now, and
determined that it will meet my minimum software requirements for day trading.
It's available at a nominal month-to-month rental for both BMI and DTN. Ensign
offers an optional nightly data cleanup/refresh for closing data along with 5,
30 and 60 minute bars (no tick) for BMI only. The refresh is transmitted
nightly, not downloaded, so if something happens I can't go back and download
the last 3 days. Not sure if the data quality of either feed is such that the
refresh and/or the original data itself should be a major consideration in
choosing between DTN and BMI? My initial cut is that without the ability to
completely reload tick and EOD data, the key is the ability to keep the system
up continuously during from time trading opens until EOD transmission is
complete.
I already know that my APC 450 UPS can't keep a desktop up for the maxium
duration of a power outage so I plan on switching to laptop. I figure on using
something like an APC SU700 to provide power smoothing and battery backup for
the satellite converter, descrambler box and laptop. Any thoughts here? I'm
planning on splitting the data feed cable into several outlets inside/outside
the house so that I can work where I want. I suppose I'll need to move the
descrambler box around with the laptop - any problems with this?
Before committing myself one way or the other, I'd greatly appreciate any
feedback on DTN/BMI, Ensign, and the issue of insuring the availability of
intraday data.
Earl
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