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trading terminal

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Help me understand how to build an alternative to Bloomberg Terminal/Reuters Eikon. Organizational chart says it all. What I need is real input in so far to what to order/which service to buy. What am I missing?

Anyone here /trading terminal/?
Interesting! I don't know too much about this, but I'd really like to hear input from the others. Good luck, Anon!
Honestly? No one?
Do you intend to use it for yourself, or sell it to people?

Anyway you are going to need a shitload of data. I guess you can find a few multiples and news stream from yahoo finance, but access to more complete databases costs quite a bit.

Anyway, that's an interesting project so I'd like to hear more.
This is really interesting. I can only comment on market access for derivatives. You should contact Integral, Currenex, and/or EBS. They'll let you know about their apis, getting market access through them, and the costs. I believe there pricing is tailored and negotiated for each client so I don't have a clue as to how much it would cost.

Keep this thread posted OP as I'm really interested in this.

I forgot to mention you can get free historical tick data from truefx.com in case any of those companies I mentioned want to charge you for it you'll know you can get it else where for free.
will be at home from work in about 3 hours & report back with details/ideas/problems.
Op, what asset classes do you intend to trade? Where are you located? About what account size are we speaking? Very exciting like to know more!
So, more general input then:

I've done quite well with stocks over the last years and I would like to go for a professional setup as you guys will have noticed by now. Bloomberg/Reuters terminals are out of the question, because of costs. But I do know that most professional "by-myself-taders" have customized solutions for day-trading, which is what I'm going for. This entails software, programming, data/news feeds and so on. This! This is the tricky/hard part of it. I want to get it done right, not falling for some crappy realtime vendor, delivering shitty data with high latency.

As for data/chart input, I'm currently looking into money.net.

At this point there are things I've already made my mind up quite a bit. Speaking hardware I'll use my Dell 30" plus two 24" Dells, I do have another a dated 24" Dell and a 20" 4:3 Dell as backups. Around xmas I'll update my pc and will go for some fast M2 ssd. There are still questions open concerning oversurge protection as well as UPS battery power backup. I will probably/hopefully have access to my account via smartphone for emergency cases, too.

I will get a business-grade 50 or 100 mbit VDSL solution for German Telekom, which is quite sturdy and has better reliability.

As I already mentioned, I'm really looking for a professional setup here to trade for myself. There is no need to hurry with all this, because my bankroll is getting bigger with every month anyway.

>Anyway you are going to need a shitload of data.

This I am aware of. Question is what do I need, in what quality and what to get from whom. THIS is honestly my biggest issue in this project. Maybe it's not the right place to go with this, but I thought what the hell, could at least be interesting for you guys.

>I guess you can find a few multiples and news stream from yahoo finance,

Yes, but what I need is realtime data, historical data and both in best quality and reliable. I know some people use yahoo/google finance, but I wouldn't consider this the best choice. Finviz elite is of course a pick, but I know next to


I'll be into stocks, options and futures. I'm located in Germany. Since futures usually require larger accounts, I aim for 100.000 euros to start with, which will take me not too long to reach at this point.
Bit thing is the question: Direct Market Access (DMA) or "good" broker, which I have yet to decide. Interactive Brokers is the usual two words one hears when asking for something more professional. My problem with IB is their data is shit and I am not thrilled about their TWS platform. I would simply choose IB for their good fill and their pricing which is btw. shitty for anything euro stocks.

Then there is IG Markets. Nice pricing, their bling-bling webbased trading platform looks snappy and shiny, but I doubt a professional would hesitate a second before ranting about "web" and "based". I also don't know too much about their data. They do the usual retail "realtime charts for free, if you do your x number of trades per y time" thing. I am sorry, but this is not a respecatable thing to do and it for sure ain't professional.

So there's that: IB and IG are not obvious or clear go-for-choices brokerwise.
You should look into dma packets from the fwb then. Won't come cheap I guess. As for dma I don't know. Aren't you supposed to be a licensed trader for this?
Hardware setup seems good to me.
I think you should concentrate more on your trading and what tools you'll actually 'need' to address real problems you're incurring rather than simply asking wide ranging questions about setups

given that you're comparing IB and IG Index (costs vary by quite a bit between the two) you don't really seem to be at the point where you need to splash out much on hardware
>As for dma I don't know. Aren't you supposed to be a licensed trader for this?
>Hardware setup seems good to me.

He doesn't actually mean DMA in the sense that say someone building a systematic trading system would mean it...

a retail trader talking about 'DMA' is refering to simply having access to the order book, though technically not directly but via servers controlled by their broker and/or an ISV

whereas I guess you're referring to being granted direct access to an exchange for your algo - which does require the exchange to approve it, a clearer to vouch for your etc.. as they don't want some crazy person with dubious code submitting ridiculous orders by mistake and causing a flash crash etc..

Well, this is not about trading, but considering options, to-do's and not-to-do's regarding the tools needed for trading. Everything in the schematics is related to this and important things they are. Don't you worry: It's not that I believe a good setup automatically makes me a successful trader.

I've done stock picking for quite a while now and I did some FX (paper only). I do have some experiences with low-/bad quality information settings and this is what I want to change first before getting anywhere near day trading derivatives.

Also, this isn't meant to be some overkill-data solution. I just want fast, reliable datafeeds, a good trading platform, a better brokerage solution and so on.


Nah, it's not: When you do have dma this means a subtle change in your relationship with the market, because you go from accepting a quote to making an offer. You are now a price maker rather than a price taker.
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