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Alchem/ToS Discrepancy

Posted by NYCSB 
Alchem/ToS Discrepancy
February 17, 2021 08:23PM
Hey friends,

So I'm doing some research this eve and have been trying out Alchem on Gary's strong rec/suggestion/demand(?) and, other than it being frustrating af to toggle between what I'm used to (ToS), downloading and utilizing Windows on my Mac, and just learning the program passably, I noticed a big discrepancy in todays price listing on $COMPQ/(NDX on ToS).

Have I just been in front of the computer too long? Can anyone confirm that I'm not losing it?

Poring through a lot of the info here (as I have over the years, but more so now since getting back into the GW swing of things) and what an undertaking. Appreciate everything as per usu, esp. Darcy/Robert/a few others.

Re: Alchem/ToS Discrepancy
February 19, 2021 09:36AM
There have been 22 views of this post before I entered it, and no one has said anything.... REALLY!!!!

Hopefully someone has PM the OP. smiling smiley

Okay. First things first. The Nasdaq Composite on ToS is COMP, not NDX. Yes they similar on the charts but the right one for ToS is COMP without the $ sign.

For ToS-
COMP is the Nasdaq Composite
NDX is the Nasdaq 100

For Alchem-
$COMP is the Nasdaq Composite
$NDX is the Nasdaq 100

Concerning the data discrepancies-
It's been a while since I checked, but in the past I have found many discrepancies with the data between ToS and Alchem. Usually it wasn't much, but it was enough the change the way the indicators looked. Each time I went to verify the data it turned out that the ToS data was correct.

When I compared Alchem's chart data to Qcharts I found that they matched, which leads me to believe that Alchem and Qcharts might be using the same data feed sources. This is just a couple observations I've made in the past.

Edited 1 time(s). Last edit at 02/19/2021 09:37AM by RichieRick.
Re: Alchem/ToS Discrepancy
February 19, 2021 12:32PM
OK, I'll take the bait. QCharts likely uses the ESignal data feed and since ESignal's parent Interactive Data is owned by ICE, this should be a pretty good data feed. Of course, since QCharts has not been actively maintained for quite some time, they could still be using some other, inferior data feed. I don't know who ToS uses for their data feed, so it's accuracy and timeliness is an unknown.

Back when I was using QCharts, I found that it always pretty closely matched ToS and TradeStation (the other platform I use), particularly on daily charts. I have no idea what data feed Alchemcharts uses and how timely or accurate it is.

Since the original post mentioned doing evening research; i.e., after market close, I assume daily charts were being used. I would expect daily charts using closing prices to be exactly the same across all major platforms. Using more frequent charts that rely on intraday data, I would expect some differences to creep in. I will say that during the infamous "flash crash" ToS had data issues, but then most data feeds do when an extreme event happens.
Re: Alchem/ToS Discrepancy
February 19, 2021 11:54PM
Hey Dan,

I didn't think I was baiting any hooks, but okay. smiling smiley lol.

I don't know who has the data feed for ToS either. It's been a little more than a year now, since I compared ToS and Alchem data so maybe the issue was only short term and has gone the way of the doodoo bird. At least I hope so.
Re: Alchem/ToS Discrepancy
February 23, 2021 02:52PM
RichieRick Wrote:
> There have been 22 views of this post before I
> entered it, and no one has said anything....
> REALLY!!!!
> Hopefully someone has PM the OP. smiling smiley
> Okay. First things first. The Nasdaq Composite
> on ToS is COMP, not NDX. Yes they similar on the
> charts but the right one for ToS is COMP without
> the $ sign.

Hey, thanks for the reply. Yea, I figured that bit out pretty quickly - strange, but apples/oranges in the way of platforms I guess.

Still don't fully understand why there isn't EOD common pricing across all boards as it DOES effect indicators, but I'll do what I can all things considered. *For the record, someone did reach back out to me from Alchem, though not incredibly helpful, they did mention that larger movements from a specific ticker AH could show on some chart.

In other news - whilst trying to adapt GW's basket that was sent to us, I'm so confused as to why he would put SO SO many untradeable (by most anyone's standards) into the basket. If it's strictly for research, that's one thing - but the actual volume, OI, etc. on so many of them (nevermind the implied premium spreads given the former data) make them fully untouchable.

I of course am compiling my own basket based on stocks I was trading pre-class, combined with a couple nuggets from his baskets (and the overlap of the two) - but am truly trying to stick to the rules this time around - so it's just mildly deflating to go through so many tickers, find SLI, then find it's not feasibly tradeable.
Ok, I digress. Thanks again for the eyes and ears - and for Richie for replying, and no no-one had PM'd me smiling smiley
Re: Alchem/ToS Discrepancy
February 23, 2021 08:51PM
Good deal,

Glad you figured it out. smiling smiley

It just depends on the data source that the platform is using.

That list is crazy for sure, but you'll need to cull it down a bit as he intended.

It's hard to find stocks that move very well and at the same time has options that are cheap enough that you could buy at least 2 or 3 contracts with a small account while following the Money Management Rules.

Yeah there are just so many great stocks that aren't tradable now by most people because they've all gotten SOOOOO very expensive. I've even seen some sub $200 dollars stocks where the options are over 12 bucks. That's just crazy, but ya know they move very well. Sadly they just aren't tradable by people with small accounts. Now of course buying 1 contact and it moves 20 dollars has the same result as buying 20 contracts that only move 1 dollar.
Re: Alchem/ToS Discrepancy
February 26, 2021 12:42AM
So true re: stocks that move and the correlating premiums/pricing.

I’ve definitely got a large handful that I’m still trying to whittle down to a full on GW basket instead of the super volatile intraday plays that I was doing a la old 1-5 techniques.
So hard not to look at intraday plays and small charts now that I’m truly trying to stick to S1 rules and even dipping into the small piggy bank to take S2 this weekend!
I’m hoping it’s worth it - tough to feel otherwise - but I’ve only made two trades since S1 a few weeks ago and still trying to regain footing into the structure and work.

Cheers Rick
Re: Alchem/ToS Discrepancy
February 26, 2021 09:05AM
Paper trading is a great way to knock the rust off and get the juices flowing again. Then you can tip toe back into live trading. smiling smiley

Personally I think Intra-day trades are good for new traders, it allows you to get MANY more reps in if you're able to see the charts during the day. If I recall correctly, when GW first quit his job and was able to trade fulltime he did a LOT of day trading type trades or tiny swing trades where he'd be in today, and out tomorrow. That's were he created a few of his strategies, like the Five minute play, and the news play, and the OEX play. He even used the 21 as the action for the daily back then.
Sadly, now he has completely moved away from anything intraday and basically labeled it as taboo. Once he stopped working and was able to see the markets during the day he moved more into a day trading style of trading and has since migrated fully to swing trading. Especially for new students, I think some intraday trades are nice because it allows for many more reps, and instead of waiting days or weeks to see a trade play out, you could see it in a matter of minutes or hours.

That's just my 2 cents, which isn't even worth 2 cents really. smiling smiley
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