The cost of getting started scalping futures - Beginners and Introductions | futures io social day trading
futures io futures trading


The cost of getting started scalping futures
Updated: Views / Replies:3,228 / 41
Created: by TradingTom Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

The cost of getting started scalping futures

  #21 (permalink)
Trading Apprentice
Munich Germany
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Emini ES
 
Posts: 24 since Jan 2017
Thanks: 32 given, 9 received


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.

Reply With Quote
 
  #22 (permalink)
Trading Apprentice
Munich Germany
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Emini ES
 
Posts: 24 since Jan 2017
Thanks: 32 given, 9 received


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?!

Reply With Quote
The following user says Thank You to TradingTom for this post:
 
  #23 (permalink)
Trading Apprentice
Atlanta
 
Futures Experience: Intermediate
Platform: CTS T4; R|Trader
Favorite Futures: ZN, ZB, ES
 
Posts: 21 since Jan 2017
Thanks: 2 given, 10 received



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.

Reply With Quote
The following user says Thank You to MichaelFlowTrader for this post:
 
  #24 (permalink)
Trading Apprentice
Atlanta
 
Futures Experience: Intermediate
Platform: CTS T4; R|Trader
Favorite Futures: ZN, ZB, ES
 
Posts: 21 since Jan 2017
Thanks: 2 given, 10 received


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.

.

Reply With Quote
 
  #25 (permalink)
Elite Member
Munich, Germany
 
Futures Experience: Intermediate
Platform: NT8, daytradr
Broker/Data: AMP
Favorite Futures: FDAX, FDXM
 
Posts: 1 since Mar 2016
Thanks: 0 given, 1 received


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

Reply With Quote
The following user says Thank You to peterb123 for this post:
 
  #26 (permalink)
Trading Apprentice
Arlington VA
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 11 since Feb 2017
Thanks: 0 given, 1 received

Peter,

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

-Paul


Sent from my iPhone using futures.io

Reply With Quote
The following user says Thank You to paulrobert for this post:
 
  #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
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received


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!
Reply With Quote
 
  #28 (permalink)
Elite Member
Southampton
 
Futures Experience: None
Platform: NinjaTrader+ Jigsaw
Favorite Futures: None yet but currency futures
 
Posts: 5 since Apr 2015
Thanks: 0 given, 2 received

Cost of trading futures - moving from Forex to Futures

Hi

Like Trading Tom I should like to make the move from trading Spot Forex to Futures but am very surprised by the fees.

I enquired about the fees that would be associated with using the stand alone or web based Rapid Trader Pro from Jigsaw. Perhaps I have unwittingly made some of the below costs more expensive by not suggesting the Jigsaw 'plug in' version.

In addition to the $400 for Jigsaw (which is fine) I have been quoted the following:

IQFeed Core Service: $78 per month
Real-Time US Futures Fee: $20 per month
CME Exchange Fee: $91 per month
Market Depth Level II Service: $20 per month

Although if I go through particular brokers then the $91 comes down to $5 a month. Perhaps I have been quoted fees for a professional trader - I am not, I trade for a second income.

I am a positional day trader and therefore I'd like to have access tools that would help that: market profile, cumulative delta, the GOMi indicator & DOM.

I did wonder whether or not I could access these kinds of Futures information yet still trade from my spot Forex trading platform. Assuming that 6E Eurodollar moves as Eurusd Forex. That maybe a very dumb idea and please let me know if it is and why.

So very keen to become a Futures trader but the costs I have been quoted so far are a hurdle.

Not sure if it is relevant but I am based in UK. Thanks for any help and advice.

Reply With Quote
 
  #29 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 2,643 since Sep 2015
Thanks: 5,580 given, 3,848 received
Forum Reputation: Legendary


Rupkali View Post
Hi

Like Trading Tom I should like to make the move from trading Spot Forex to Futures but am very surprised by the fees.

I enquired about the fees that would be associated with using the stand alone or web based Rapid Trader Pro from Jigsaw. Perhaps I have unwittingly made some of the below costs more expensive by not suggesting the Jigsaw 'plug in' version.

In addition to the $400 for Jigsaw (which is fine) I have been quoted the following:

IQFeed Core Service: $78 per month
Real-Time US Futures Fee: $20 per month
CME Exchange Fee: $91 per month
Market Depth Level II Service: $20 per month

Although if I go through particular brokers then the $91 comes down to $5 a month. Perhaps I have been quoted fees for a professional trader - I am not, I trade for a second income.

I am a positional day trader and therefore I'd like to have access tools that would help that: market profile, cumulative delta, the GOMi indicator & DOM.

I did wonder whether or not I could access these kinds of Futures information yet still trade from my spot Forex trading platform. Assuming that 6E Eurodollar moves as Eurusd Forex. That maybe a very dumb idea and please let me know if it is and why.

So very keen to become a Futures trader but the costs I have been quoted so far are a hurdle.

Not sure if it is relevant but I am based in UK. Thanks for any help and advice.

Again, no idea why people keep getting quotes on all this stuff. As far as I am concerned, my only fixed/recurring cost is 15 USD for CME exchange real-time feed (that includes Level 2 type access to all the CME exchanges) and I think 32 USD for access to Eurex exchange (that includes Level 2 type access).

If you don't trade European products and only trade CME stuff then IMO you should not pay more than 15 USD/month to get all the data you need.

This of course is for non-professionals.

Reply With Quote
The following user says Thank You to xplorer for this post:
 
  #30 (permalink)
Elite Member
Southampton
 
Futures Experience: None
Platform: NinjaTrader+ Jigsaw
Favorite Futures: None yet but currency futures
 
Posts: 5 since Apr 2015
Thanks: 0 given, 2 received


Thanks for your reply xplorer. Apologies but new to this.

May I ask what your set up is then in terms of futures platform, charting & tools, and feed whereby you use where you pay $15 a month?

Reply With Quote
The following user says Thank You to Rupkali for this post:

Reply



futures io > > > > The cost of getting started scalping futures

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

July Journal Challenge w/$1100 in prizes from TopstepTrader

July
 

An Afternoon with FIO member Softsoap

Elite only

Battlestations: Show us your trading desks and win $750 in prizes

August
 

Extended Ask Me Anything w/Brett Steenbarger

Elite only

Prototyping Python Strategies (part 3) w/Ran Aroussi

Elite only

Brannigan Barrett w/Axia Futures

Elite only

Introduction to Phillip Capital futures brokerage services

Aug TBD

How Monte Carlo Analysis Can Help Your Trading w/Kevin Davey

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
The cost of buying/selling futures trading654 Reviews of Brokers and Data Feeds 13 October 26th, 2015 11:19 AM
Global futures cost Jdesey Reviews of Brokers and Data Feeds 2 August 23rd, 2015 03:03 PM
Where to get started with futures Macan Emini Index Futures Trading 9 August 5th, 2015 12:11 PM
Webinar: FuturesTrader71 (FT71) Morad Askar on Getting Started Scalping Big Mike Traders Hideout 90 April 23rd, 2015 10:27 PM
LOW cost API - futures markets Kurtas Reviews of Brokers and Data Feeds 7 February 21st, 2013 03:46 AM


All times are GMT -4. The time now is 12:43 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-07-25 in 0.16 seconds with 19 queries on phoenix via your IP 54.162.115.179