Data subscription dxfeed for trading US stock

[Tommink26]

Hey guys,

I am quite new to order flow trading, but urgently want to try it.

I primarily trade us stock, and therefore wanted to use the order flow heatmap.

My questions are:

1) my brokerage is IB. I saw that they provide lvl 2 data as well. Is that sufficient or do I need an extra data provider?

2) if I need an extra data provider, I think dxfeed does a good job (that’s at least what I read). What data subscription do I need for trading/watching US stock with the heatmap?

Thank you!!

Tom

 

[MonkeyInvestor]

My thoughts/input to your points:
1) IB's Level 2 data is - unfortunately - NOT full depth, so pretty useless to create an "order flow heatmap" (MotiveWave calls this "Order Heatmap").
2) dxFeed's Level 2 data is full depth in real-time (but NOT historically), so building an "Order Heatmap" takes time. But the "Depth of Market" view is great.

 

[Tommink26]

Thank you for your response, I highly appreciate your input!

Please don’t mind me asking three more questions:

3) when selecting the „US Futures“ subscription for 99$ on the dxfeed homepage, „historical charting“ is included, according to the details. So would that be beneficial for the heatmap?

4) when subscribing to dxfeed, do I have to rout it through my IB connection or can I connect it separately to my MW account?

5) does anyone have experience with the heatmaps of bookmap AND MW? What tool is better?


Thanks!

 

[MonkeyInvestor]

Again - my opinion/understanding:
3) I understood that you are interested in "US Stocks", so why do you want to order "US Futures"? I did talk about dxFeed's "US Equities - Nasdaq TotalView Market Depth". And ... a "historic charting" is NOT "historic heatmap".
4) You simply connect MotiveWave to IB for "Broker Connection" and to dxFeed for "DataFeed".
5) I tried both. MW can do so much more (e.g. the "Volume Imprint"), but the unique feature of BM is the "historic heatmap" (for whatever that is really needed).

 

[Tommink26]

I did say that I want to trade stocks, indeed. Sorry for the confusion. I am actually flexible in terms of what I trade. but my first goal would indeed be trading stocks.

Is there a way/subscription on dxfeed where you can trade stock from all markets, not only nasdaq?

 

[Leatherneck]

Consolidated US Equities Level 1 (NBBO)

 

[MonkeyInvestor]

Level 1 (NBBO) is NOT sufficient to create an "Order Heatmap".

 

[Leatherneck]

I'm sorry. I misread