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Hi, my broker is Interactive Brokers & my strategy sets prices on limit orders based on current ask/bid prices. Should I set data source to IB, instead of QC to ensure alignment? If you have IB as broker, would you use QC as the data provider?
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
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Mia Alissi
Here’s how to think about it, Dat:
If your broker is Interactive Brokers (IB) and your strategy is setting limit order prices based on current bid/ask prices, then choosing IB as your data provider (instead of QuantConnect’s (QC) default feed) is the best way to ensure your algorithm’s “view” of the market matches what your broker actually sees when routing/filled orders.
Why?
When should you pick IB?
When is QC data fine/preferable?
Hybrid approach:
QuantConnect lets you actually combine both, but the order of selection matters: QC takes precedence and IB is used only when QC data isn’t available. If you do want the tightest correspondence between your limit order prices and IB, explicitly choose IB as the data provider when deploying in live mode.
Bottom line:
For your setup—algorithms keying off current IB bid/ask for limit prices—it is best practice to use IB as your data feed. This reduces slippage and surprises, and keeps your algo’s logic in harmony with your broker’s order book.
Let me know if you want guidance on setting this up or how to test the difference in live trading!
Sources: Interactive Brokers - QuantConnect.com, US Equities - QuantConnect.com
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
Dat En
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
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