I'd like to ask any employee of Quote.com a question. How can you inflict this garbage on the citizens of this country? Have you no shame?
Its employees that are behind the issues, but they wear the title of Management - they are the ones ultimately responsible for the lack of planning and dearth of action.
Meanwhile, the feed I switched to worked well through the entire day, as it virtually always does. In the interest of being fair, yesterday there was about 10 minutes where price was not reliable on the CME futures. Its the first failure I have experienced with eSignal. I was able to quickly contact a tech support rep; they indicated they already knew about the issue and were working on it. A few minutes later, it was fixed.
If you are an intraday player, you live for high speed markets (or perhaps should). FOMC meetings typically generate a high speed market!
As is my practice, I try to avoid trading pre-FOMC meeting news. Today I admit to one quick trade earlier in the morning that was stopped out at B/E as the typical sideways grind developed prior to the FOMC meeting.
Once the initial madness plays out - usually within about 30 minutes, its time to look for opportunities. Today, my one pre-FOMC and three post nuttyness trades on ES futures netted for me:
1182.25 - 1182.25 = 0
1177.00 - 1165.50 = 11.50
1166.75 - 1158.75 = 8.00
1156.25 - 1155.00 = 1.25
= 20.75 points * 50$ per point = $1037.50 (minus transaction costs of $23.60) = 1013.90 * numContracts = ...
...well you get the picture. Trading even a single contract in fast markets more than pays the incremental difference for a more reliable feed, for a year.
Could I have done those trades with Quote.com - experience says NO. In fact, other people I was chatting with during these trades, were almost all unable to participate as a direct result of using QCharts and LiveCharts.
Is it an isolated incident? That data dies when the market is moving fast? No, unfortunately its a common occurance for Quote.com.
If your time horizon is measured in days, weeks and months, then none of this intraday stuff matters much anyways.
But if you are an intraday trader, reliability has to be of prime concern to you. If you are experienced and tolerate the service because it meets your needs (I once was in that camp), terrific.
However, people with less experience may benefit from thinking about opportunity costs as part of their cost/benefit analysis.
mw |
