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Long term review-interactive brokers effectively unusable due their data restrictions

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    Long term review-interactive brokers effectively unusable due their data restrictions

    Have to post something to let everyone at Ninjatrader know, and anyone looking to do the same, how utterly frustrating it has been to try and use NT with Interactive Brokers as the sole data provider. This is mostly due to the chinsey way IB doles out data (widely documented across the internet as well as these forums), but it also has to do with NT's inability to provide some type of timeout or short circuit-function for when IB starts throttling (which is pretty much immediately). This results in me opening Ninjatrader and having it display 'Loading' for a indefinite and often permanent period of time as NT perpetually waits for data that is never going to arrive, thus rendering the entire application completely stuck.

    I've spent tens of hours trying to cope with this situation and work around, and it has been very frustrating to say the least. It seems to me that NT should provide a much stronger warning about IB to customers or even boot IB entirely as a provider until and unless IB can provide an API that doesn't provide such a lousy experience for NT's customers. I'm mostly annoyed at InteractiveBrokers, but ultimately also very frustrated at now having plunked down my money for something that effectively does not work as intended and which will require me to spend a good amount of money more to get it there (not to mention all the time it took for me to realize all the above).

    Please for the love of all that is good do not reply with, 'I just need to load a smaller amount of data'. To get IB to work effectively one would need to load no more than a week or two of data for a single chart (a completely useless amount for my, and I would guess, most people's need). Also, and very importantly - NT should not be sent into a permanently catatonic state that requires quitting once the data throttling by a data provider begins.
    Last edited by Calebg; 04-29-2019, 03:34 PM.

    #2
    Thanks for the feedback. You're correct in that Interactive Brokers restricts the available historical data as outlined in their documentation here:

    https://interactivebrokers.github.io...lity&gsc.tab=0

    Specifically, this note:
    Important: the above limitations apply to all our clients and it is not possible to overcome them. If your trading strategy's market data requirements are not met by our market data services please consider contacting a specialised provider.
    The best solution currently would be to disconnect which would cancel the data request.

    With that said, there is always room for improvement on how NinjaTrader handles API limitations. I have submitted this as a feature request to the Development Team. The internal tracking number for your feature request is SFT-3970. Please reference this internal tracking number if you ever have questions regarding this feature request.

    When a feature request is implemented, you'll find it in the release notes:

    http://ninjatrader.com/support/helpG...ease_notes.htm
    Last edited by NinjaTrader_PatrickG; 05-03-2019, 06:26 AM.
    Patrick G.NinjaTrader Customer Service

    Comment


      #3
      HI Patrick,

      I appreciate/support the feature request submission, thanks.

      Also, I'm sure that *you* realize that when you say, 'The best solution currently would be to disconnect which would cancel the data request' that any active strategies are then deactivated, and that whenever the next need for data comes up again (e.g., ticker change, change to data series settings) the user will be back to square one again (e.g., indefinitely "Loading"), but I catalog it here for anyone else reading along.

      Fortunately, for now I have realized that for the sake of my sanity and productivity that the smarter thing for now was to simply upgrade to a multi-broker license so that I can use one of my other brokers, which doesn't have the same data limitations as IB, solely for my historical data needs. :-)

      Comment


        #4
        Calebg - thank you very much for your review as I am about to travel down this path. Seriously, thank you b/c I went thru a similar frustrating experience with Multicharts and how they handle quotes.

        If you don't mind me asking a few questions as this is new to me:

        1) By going to a multi-broker license, you can use another source for data (say TD Ameritrade) and be ok with data pulls?

        2) While still trading at IB? Or you will remove IB completely from your scenario?

        3) Is NT able to run charts off Broker 1 but trade on Broker 2? Easily?

        My issue is I will be focused almost entirely on stocks and w/in the NT universe, there aren't a lot of broker options that I can see. IMO that is a severe miss on their end.

        TIA for your time.

        Comment


          #5
          I can answer your questions from our perspective:
          1. The purpose of acquiring a multibroker license key is to be able to connect to multiple brokers. If your goal is to receive data from one source (lets say Kinetick) and trade to only one broker, you could accomplish this with a single broker license key. In this example, Kinetick is not a broker, only a supplementary data provider, so it would not require you to obtain the multibroker key.
          2. You can route orders to any connected broker when you have a multibroker license key. The only limitations would be if that broker doesn't support a certain asset class. For example, you couldn't trade futures to a TD Ameritrade account even if you were receiving futures from another connection because TD Ameritrade doesn't support futures in NinjaTrader. Here is a link with more information about our supported brokers and data providers:

            https://ninjatrader.com/support/help...y_provider.htm
          3. You can define which connect provides data per asset class, but cannot sub-divide it further. For example, you could pull futures data from Interactive Brokers and equities data from TD Ameritrade. The link below goes into further detail about using multiple connections in NinjaTrader 8:

            https://ninjatrader.com/support/help...onnections.htm
          Patrick G.NinjaTrader Customer Service

          Comment


            #6
            1) By going to a multi-broker license, you can use another source for data (say TD Ameritrade) and be ok with data pulls?

            2) While still trading at IB? Or you will remove IB completely from your scenario?

            3) Is NT able to run charts off Broker 1 but trade on Broker 2? Easily?
            TD Ameritrade is working well for getting the data, at least for stocks (as PatrickG mentioned, no futures data/trading with TDA). No more Ninjatrader "Loading" lockups as with IB only.

            So now I have two data connections on simultaneously (IB and TDA). As far as the where the data comes from vs where you can trade to - it doesn't matter. Meaning that even if data for a particular instrument is coming from TDA, I can execute my orders to my IB account.

            Good luck!

            Comment

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