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The cost of getting started scalping futures
Started: by TradingTom Views / Replies:1,337 / 26
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The cost of getting started scalping futures

  #21 (permalink)
Trading Apprentice
Munich Germany
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Emini ES
 
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MichaelFlowTrader View Post
I don't think that you need all of those things to get started. You can typically find a broker who will basically give you a platform for free that will come with a DOM. You don't have to use Jigsaw, although it gives the most information of any DOM but you don't have to use it as you get started.

Almost everything I've heard so far says that Jigsaw is by far the best tool for orderflow scalping and that it does make a huge difference compared to a standard DOM without all the additional information.
That's why I'm not entirely sure if starting without Jigsaw does give me the correct picture of whether this is for me and how well it works (for me)...

I have however been in contact with the guys at Jigsaw and they told me there is now an early standalone platform called "RapidTraderPro" that comes with their Jigsaw package.
So from what I gather buying the Jigsaw license and a datafeed (might be possible with a free trial feed as well?!) should get me started to try things out for a while.

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  #22 (permalink)
Trading Apprentice
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SMCJB View Post
The cynical would say that they make the FX trading easy to enter, so there's always a constant flow of new 'customers' to lose their money.

So why wouldn't they want to do the same with futures?!

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  #23 (permalink)
Trading Apprentice
Atlanta
 
Futures Experience: Intermediate
Platform: CTS T4; R|Trader
Favorite Futures: ZN, ZB, ES
 
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TradingTom View Post
So why wouldn't they want to do the same with futures?!

Because Futures are exchange traded with more regulations. Most people who trade Futures want to trade products that aren't broken down into super tiny lot sizes so you can't get started with say $5 to $100 like you can in Forex. So Forex will always have more uneducated new traders coming to it because of how cheap it is to access.

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  #24 (permalink)
Trading Apprentice
Atlanta
 
Futures Experience: Intermediate
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Favorite Futures: ZN, ZB, ES
 
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TradingTom View Post
Almost everything I've heard so far says that Jigsaw is by far the best tool for orderflow scalping and that it does make a huge difference compared to a standard DOM without all the additional information.
That's why I'm not entirely sure if starting without Jigsaw does give me the correct picture of whether this is for me and how well it works (for me)...

I have however been in contact with the guys at Jigsaw and they told me there is now an early standalone platform called "RapidTraderPro" that comes with their Jigsaw package.
So from what I gather buying the Jigsaw license and a datafeed (might be possible with a free trial feed as well?!) should get me started to try things out for a while.

Yes, Jigsaw gives the most information but that doesn't mean you can't trade depth of market without. There are many pros who don't use Jigsaw who make money. My recommendation is based on you complaining about the cost of Futures because of your list of must haves. If you can get the standalone Jigsaw with free charting or cheap charting then you will save a ton of money.

.

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  #25 (permalink)
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Broker/Data: AMP
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TradingTom View Post
I come from the Forex world and have only recently started to look into trading Futures.
I'd be interested in supplementing my Forex day trading with scalping Futures via DOM.

I am kind of shocked at what seems to be the cost of a setup to get started here compared to FX.
  • NinjaTrader Lifetime License: ~1000$
  • Jigsaw DOM Addon: ~400$
  • Jigsaw Live Trading ~50$ / month
  • Datafeed Kinetick: ~50$ / month
  • Comissions: ~4$ / RT / contract for ES

Am I missing something or is it really this expensive?
Cheers,
Tom

I have a similar plan, want to learn Orderflow using Jigsaw and have the same setup as you, Tom.
The one thing I did not understand yet is what advantage a Kinetick datafeed has over the Ninjabrokerage Continuum (CQG) one. At the moment, I have both, but couldn't I get rid of one of them?

Peter

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  #26 (permalink)
Trading Apprentice
Arlington VA
 
Futures Experience: Beginner
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Peter,

I'm pretty sure CQG is free if you're using NT Brokerage.

-Paul


Sent from my iPhone using futures.io

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  #27 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
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Raider View Post
Curren futures trader, left the forex market and have been fairing better x 10. Don't trade forex. [/url]

Don't agree. I went from forex to futures and then went back ))) You don't like cats? You simply can not cook them Forex is way much more cost effective than futures and way less risky if You know what you are doing and trading with top tier respectable regulated brokerage.

Bite small, run fast!
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