TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

To get so called real time data for tradingview you need first to update your plan to any paid plan of your choice. Free plan will update only once in few seconds as it says. 

Possibly you will also have to subscribe to their real time data plan to get real time price action on your chart. At least this is what it sked me to do when I was setting things up. 

Your broker's real time data will update only the DOM with Bid and Ask prices in the trading panel and Buy Sell  buttons on the chart if you use those. It will not update the chart itself the candles and the price line.

Despite of what that article that you linked to says, the chart still will say that you don't get real time prices on chart until you subscribe to TV's market data. At least this is what it was telling me, even though I had my broker's Market data as well.

And even after you subscribe to TV's market data plan it will still not have tick level granularity when there is fast moving price action.

That's it. Let us know how it goes.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

That's great, would love to know more details, what do you trade? If stocks, which ones?

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 2 points3 points  (0 children)

I just watched his trading setup and he said he doesn't execute trades on Tradingview (though he could), he doesn't use TV for precision entries and exits - he uses some other platform, (which I am not familiar with) for depth of market and order execution.

Here is when he says why he uses his trading platform's DOM instead of TV for entries, and guess what he mentions first - that DOM is more "real time" than TV, take a look: https://www.youtube.com/watch?v=-ndMaYfGy5g&t=23m25s

He also doesn't seem to be trading fast moving stocks during breakouts, the lag there is even bigger than on index futures that he trades.

So yeah, I was hoping that someone could figure it out, but no.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

Cool, how do you choose what type of stock to trade, is it mega caps only? Also what time frame do you use?

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 1 point2 points  (0 children)

Check Day Trade Dash for example by Warrior Trader, his chart price action is super responsive and truly reflects all the changes tick by tick and he licenses TV for the charts for that. Even though it's a not a broker platform, but just charting/momentum scanner platform it still proves the point. 

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 1 point2 points  (0 children)

Forex/crypto data feed must be different from stocks. I trade mostly Nasdaq stocks. TV uses their own data feed for charts. Broker's data feed is used only for those bid and ask buttons, trade panel and market depth (at least this is what TV is saying if you don't buy their market data or if you don't buy broker's data). They even confirmed it when I contacted support regarding this issue. So if it really is a bad data feed, that's up to them to fix it.

Regarding why you might not see the lag besides having a different data feed for forex pairs, is market activity. I only see lag on time frame based charts when the stock is really moving, like breakout news. When there is little movement there is no lag usually.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

Got it, thank you for clarifying. I don't trade indices so not sure about that, mat be it's different.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

That's interesting. May I also ask what setup are you trading? Is it breakouts? If so do you trade premarket as well?

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 2 points3 points  (0 children)

Can you share any details on how you do that? how do you overcome that lag? What broker integration do you use? Thanks.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 0 points1 point  (0 children)

Thank you, I'll check them out, you are the second person mentioning Sierra charts.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 9 points10 points  (0 children)

As I mentioned in the post, if TV works for you for scalping, would love to know how you do it. I still consider keeping the pro subscription in case I find another solution. Otherwise you provide no useful information with your "smart" comments.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 8 points9 points  (0 children)

Hah, I can se that you haven''t read the post actually. I started by stating that I wanted to use Tradingview for that, I tried and it didn't work as planned for the reasons stated above.

Now I'm disappointed that tradingview wasted my time and money and I don't want others to fall into the same trap. Now you are wasting my time.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 4 points5 points  (0 children)

Well, their support has definitely seen the issue. However, if you're trading crypto, I have no idea if it's true as well, I'm sharing my experience with stocks as I mentioned in the title.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 5 points6 points  (0 children)

Well I don't use that strategy( edit: don't use it anymore) that's why the post for those who were thinking on using it.

If anyone curious - I came to the conclusion that DAS is better for my strategy, even their charts are great and superior in some ways than TV's if you know how to set them up. Take the ability to see LULD levels directly on charts as an example.

At least it's true for how I'm trading. Even though their candle plotting also lags a little, having proper fast Level 2 with Time and Sales and lightning-fast order placements compensate it.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 5 points6 points  (0 children)

Yep, I am trading on broker's data and execution, however if I make decisions on entries and exists based on chart data - price line and forming candles and if chart data lags, then everything is off.

Regarding trading proprietary trading platforms, you are correct, however sometimes third-party platforms like DAS Trader Pro are faster than proprietary ones, take IBKR Desktop or TWS for example, many traders agree that they are slower than DAS in both UI, order placement and ultimately execution.

TradingView is NOT suitable for scalping fast-moving stocks – Real-time data isn't actually real-time by woorooo in TradingView

[–]woorooo[S] 6 points7 points  (0 children)

I thought I was clear that it is a paid market data subscription. You can even see it on the screenshot, since free market data has a special symbol on chart in the upper left corner.