I'm working with IQFeed tick data. They don't seem to provide bid/ask quotes, just trades. What's the consensus on whether this matters? I've seen it argued that a lot of games go on with quotes, fakeouts, etc. And that trade ticks are all that matter. Seems though for less liquid instruments you'd really want updated quotes, or the true price could be quite far from the last trade.
I realize most AmiBroker users don't trade on ticks, but thought I'd ask here for comment anyway.