Data Selection

[Andrew from Jersey 18]

Good afternoon BBT,

What would you say are recommended or required data streams for day trading? Obviously the NASDAQ Level 2, and the NYSE Order Book. But what else? 

 

Thanks to all who contribute. 

 

-Andrew from Jersey aka Tracksuit Trader 

[jonosg 11]

If your using the $300 3 month BBT / DAS Sim you don't have much choice you only get full depth on the NASDAQ that's the max (or it was when I was using it). For me that was good enough for the first few months - for the strategies I was practicing. (most of the ones in Andrews book and a few others) this was good enough at the start. I only really started getting into level 2 about 1 month before I went live and it still looks like gibberish to me most of the time! 

If your pretty advanced in practicing in Sim, journaling etc and you have quantified that the full depth of book is needed for your strategy (Arcabook, Totalview, IEX) you can purchase the DAS for IB $150 per month package from BBT (https://www.learningdaytrading.com/partnership/bearbull) - this comes with a Sim account so you don't need an IB account to use it or you can check with DAS direct for different Sim packages. But they are going to be as if not more expensive.  If your still formulating strategies, developing your trading plan etc I would say that the basic BBT Sim package is fine