Why it matters
Feed differences explain why two traders can have ‘the same trade’ but different fills, stops, or chart levels.
Operational use: this is how the market taxes urgency. When it appears, slow down or size down.
Common trap
Believing the chart is objective truth. The feed is a model of the market, not the market itself.
Example
Your broker’s feed prints a wick that triggers your stop. Another feed doesn’t. The event was feed-specific, and the question becomes: which feed does your contract use?
Operational cue: if you can’t point to it on the chart, in the DOM, or in your broker logs, treat it as a story and trade smaller.
Notes
Quick rule
- If you see this repeatedly, you are in a different regime than your model assumes.
- Regime change usually means position size change.
- When in doubt: trade smaller, or don’t trade.