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Fastest Brokers to use when scalping ES mini's- using ThinkorSwim now,thoughts???
Only reason using Thinkorswim I have a script that works well with them.Only exp with them is with a demo account, how r they realtime bc I use tight stops. enter w limit them stop limit 1 tick on loss profit limit .75 ( dont want to go in with real money and get killed bc they suck on execution ..all help greatly appreciated
Can you help answer these questions from other members on NexusFi?
Hi Rad,
I noticed you mentioned you were using TOS in demo mode. Unfortunately, in demo mode TOS fills all orders as soon as market touches your limit or stop price. That is not realistic at all. In real trading, unless you have an order in very early, i.e. long before price actually gets there, price will most likely have to move one tick beyond your limit entry in order to get a fill executed. Be aware of this when evaluating your system performance. Good luck.
Yeah, if you have a 1 tick stop loss, then your limit order getting filled more or less implies your stop loss getting triggered most times. Another thing is that TOS has higher commission compared to other brokers last time I checked and so has a big impact on the bottom line for scalping ticks.
Don't use thinkorswim for futures especially scalping. Scalping as you know is all about speed. I use thinkorswim for options and they have served me well but I do not use them to day trade futures. You want to go with one of the mainline futures brokers of which many are listed on this board. I personally use Optimus with the rithmic feed and have been very happy.
Scalping is not easy and trading from your house puts you at an automatic disadvantage because of latency. You could get a server in Chicago but that may not help you if are manually trading. Point being you want to try and overcome as many speed disadvantages as possible. One part of the equation is having the right feed.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
TOS will not work for scalping there is delay and the platform tends to lock up in fast markets. I use Velocity and there execution is good and so are the commissions.
I use FuturePath out of Chicago and their platform, Photon, is very fast and very stable. They have good commission rates as well. Very professional group.
what is ur thoughts on order entry... going in with a market with 2 limits hooked to it...a profit limit at 3 ticks and 4 tick loss limit. You know I have a indicator telling me to enter, do u think in real time under normal conditions my stop are too tight and the market will whiphlash my stops. In demo my fills are around 1 sec fill, then market moves to my profit limit stop, so in 10-30 seconds I'm out.
When creating a new thread, note which subforum you are in. Here is a short list of suggestions:
- Topic: Anything to do with an Elite indicator -> Subforum: The Elite Circle
- Topic: Looking for an existing indicator, or how-to use an indicator -> Subforum: (the platform)
- Topic: Programmer needing help with non-Elite indicator -> Subforum: (the platform) - Programming
- Topic: Want an indicator created/modified -> Reply to "Want indicator created free" in Elite Circle
- Topic: Vendors (trading rooms, commercial indicators) -> Subforum: Vendors/Product Reviews
- Topic: Discussion of Forex or Currency trading -> Subforum: Forex and Currency Trading
- Topic: Journals of your trading -> Subforum: Trading Journals or Elite Trading Journals
- Topic: General trading related discussions -> Subforum: Traders Hideout
- Topic: Discussion of a trading method -> Subforum: Traders Hideout
- Topic: Automated Trading -> Subforum: Elite Automated Trading
Last, any Elite Member may create more or less any of these topics in The Elite Circle at your own discretion (your support is appreciated).
This is just a short general list and doesn't cover everything. If you are unsure where to create your new thread, just create it in Traders Hideout and a moderator will move it if necessary.
rad I day trade and most of my trades only last 10 or 20 minutes but I don't scalp. I think you have to do alot of back and forward testing to see what works for your setup. But word of caution backtests can be wrong especially if your stops and targets are not wider than the size bar you are using.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."