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Yes, if you're still progressing with your learning as a trader, the last thing you want to do is increase your variable/fixed costs.
Let's be real here. Imagine you were jumping out of an aeroplane tomorrow, and you're buying your parachute gear today. Do you go to Wall-Mart, and buy the cheapest brand, super-basic, 'generally works' parachute gear? Or do you get the worlds best, most reliable, safe as possible, gear?
I use TT & CQG. They are both expensive, but I can 100% rely on them. If something goes wrong, I can call someone who knows me personally, to fix it, NOW.
$2,000 / month is a lot of money, but keep it in perspective. It's less than the median salary in many countries. If you are an experienced trader, and making less than the median salary, something is wrong here.
Last night was a very nice day in the markets. I have a backup account with TransAct Futures, and received an email that they were having data outages right on the US Session open.
I was notified 42 minutes later (to be exact) that the TransAct data issues were resolved.
In the space of those 42 minutes, we had a 15 point move up off the open in the S&P e-mini. On 10 contracts, you just paid for nearly 4 months worth of data fees with CQG. Or worse, if you were trading with TransAct data, think about how much you might have lost if you were in a position.
I rarely use anything sophisticated in CQG - I'm paying for reliability.
Like any business, if you are always trying to cut costs, and choose the cheapest option, it WILL come back to bite you. |
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Hello smwink,
I have nothing but the utmost respect for CQG & TT as both are great platforms albeit somewhat pricey.
Just to set the record straight the problem experienced by some on 3/7/08 was a GLOBEX problem having to do with system gateways and had nothing to do with TransAct or AT.
I think it's slightly unfair to place AT in the "cheap / unstable" group as most industry insiders would consider AT to be one of the top platforms in regards to speed and stability.
I do agree with the main point of your post: Cheaper is not always better. Quality of product and service is important.
Best regards,
Tom
The exact email sent sent by CME GLOBEX to their FCM network and forwarded by TransAct to their customers is quoted below.
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"-----Original Message-----
From: CME Globex Control Center [mailto:swnalert@sendwordn ow.com]
Sent: Friday, March 07, 2008 1:45 PM
To: TransAct Futures Support
Subject: Market Data Issue
Importance: High
Some customers are reporting the inability to receive market data in some markets. Operations is investigating.
If you have any questions, please contact the CME Globex Control Center at 312-456-2391 or in Europe at 44-20-7623-4708."
"-----Original Message-----
From: CME Globex Control Center [mailto:swnalert@sendwordn ow.com]
Sent: Friday, March 07, 2008 2:20 PM
To: TransAct Futures Support
Subject: Market Data Issue Resolved
Importance: High
The issue affecting market data has been resolved. Market data replay gateways will not be available through the end of today's session.
If you have any questions, please contact the CME Globex Control Center at 312-456-2391 or in Europe at 44-20-7623-4708."
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Best regards,
Tom