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AMP Futures / AMP Global Review

  #291 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
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Delawer View Post
Yes, I had no enough capital in the account (I begun with 500-1000e), to hold the risk of a volatile move.. Well I am familiar wiith... clearing.. etc.. But.. market kick me off in that case :S (probably i was at the wrong side for too long but what instrument do you recomend me to avoid in example 30 basis points of risk? That is too much money to risk with.

You wrote "Anyway Im afraid of burn again my account with them but, do anyone knows another good futures broker that allow cqg or xtrader and that cheap ES?"

This gave the impression that the broker had something to do with your losses. In reality you were under capitalized, and could not withstand the leverage associated with futures.

Matt
Optimus Futures

There is a risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #292 (permalink)
 
empty's Avatar
 empty 
Louisville, Kentucky
 
Experience: Intermediate
Platform: Sierra Chart, TastyTrade
Broker: Various
Trading: Futures, Options
Posts: 100 since Oct 2012
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Delawer View Post
Yes, I had no enough capital in the account (I begun with 500-1000e)

That's simply not enough capital to trade Futures. You should consider something like Forex where you can scale back your risk whilst learning. With Forex you can risk very small amounts per price movement. This affords you the opportunity to have real risk / money on the trade and figure out your trading plan, but will not take you out of the game while learning.

I really enjoy Futures and I think a centralized exchange has a lot of benefits, but with that amount of capital you need to consider lower risk options when you're learning.

Empty

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  #293 (permalink)
 Delawer 
LEON / SPAIN
 
Experience: Intermediate
Platform: Ninjatrader, Bookmap
Broker: TT/Amp, IQFEED
Trading: Stocks, FUTURES
Posts: 22 since Sep 2014
Thanks Given: 2
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empty View Post
That's simply not enough capital to trade Futures. You should consider something like Forex where you can scale back your risk whilst learning. With Forex you can risk very small amounts per price movement. This affords you the opportunity to have real risk / money on the trade and figure out your trading plan, but will not take you out of the game while learning.

I really enjoy Futures and I think a centralized exchange has a lot of benefits, but with that amount of capital you need to consider lower risk options when you're learning.

Empty

Men, but I did a huge research and in forex the price moves to the losers side XD. Someone have to loose a lot to that i can a little XD.

About you say in stop loss, do you really think im going to buy something and announce sell it cheaper? WTF.

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  #294 (permalink)
 cogito 
Washington DC
 
Experience: Intermediate
Platform: InvestorRT
Broker: TD Ameritrade, AMP/CQG
Trading: ES
Posts: 206 since Aug 2014
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mattz View Post
You wrote "Anyway Im afraid of burn again my account with them but, do anyone knows another good futures broker that allow cqg or xtrader and that cheap ES?"

This gave the impression that the broker had something to do with your losses. In reality you were under capitalized, and could not withstand the leverage associated with futures.

Exactly. This is what I was trying to clarify with the original poster.

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  #295 (permalink)
 
torroray's Avatar
 torroray 
Malaysia
 
Experience: Beginner
Platform: Multichart DT
Broker: MB Trading
Trading: Fx
Posts: 272 since Nov 2009
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GaryD View Post
They will send you a commission quote if you request it, you pick your instrument, platform and data feed, and can compare them. There is a link you will receive. and you can try all kinds of pricing options. The TT Net feed was the least expensive for me using Sierra. About 20%v lower than what I have been paying, and seriously no difference in quality.

I use 2 and 3 tick charts for microscopic views, and 1 minute for volume. I ran one , then the other (Rithmic), back to back, side by side. TT Net is pure seamless.

Now, I have seen variances in calculation of things, like VPOC between data feeds, and in that regard there did seem to be difference between almost all data providers. Price moves up and down, trade accordingly.

A data feed that keeps up with real time, zero lag, never goes out... That is what TT Net has been since day one, and every day after. And costs the least of any other combination (+ Sierra) that I have ever tried.

Hi GaryD,

Rare review on TT. Maybe most members here use Rithmic. I appreciate the experience you share. Your chart setup are more or less like mine.



Thanks

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  #296 (permalink)
 
torroray's Avatar
 torroray 
Malaysia
 
Experience: Beginner
Platform: Multichart DT
Broker: MB Trading
Trading: Fx
Posts: 272 since Nov 2009
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steve2222 View Post
@torroray

AMP has this on-line calculator that lets you work out what the commission will be for various platform/data feed combinations.

https://portal.ampclearing.com/account/commissionquote.aspx


I also use TTnet (with SC) and I too can confirm I have had zero issues with the feed. It is fast reliable and seems (always hard to prove) to give me better fills.

Although you need to know that TTnet's recording of the trade as having occurred at the bid or ask is unreliable. Also it is not possible to get your live trade account balance with TTnet - you need to wait until AMP send you your daily statement (of course your trading platform will still give you it's view of your intraday performance).

There is also no web or mobile access to TTnet, so if something goes wrong with your trading software etc, you can't log onto TTnet via your phone and manage your trades - you will have to call AMP.

So yes it is cheaper, but that is probably because of some of the shortfalls above.

Hi Steve,

Can you use some other free platform to manage your trade if anything bad happen?

Thanks

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  #297 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
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torroray View Post
Hi Steve,

Can you use some other free platform to manage your trade if anything bad happen?

Thanks

@torroray

No. You couldn't use a paltform that was being feed with CQG or Rithmic (for instance) if your original trades were placed at the exchange via TTnet.

The only option is the one @mattz suggests in post #283. I have not had a chance to talk to AMP to see if I had X-Trader (a TT platform) could I use it to manage trades routed through TTnet off my SC platform without paying excessive fees for having X-Trader just for disaster recovery.

Clearly, from post 283, Matt is saying he could run this setup for you at Optimus using SC as your primiary platform and TT's platform (X-Trader, I think) as a back up for no additional cost.

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  #298 (permalink)
 
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 mattz   is a Vendor
 
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steve2222 View Post
@torroray

No. You couldn't use a paltform that was being feed with CQG or Rithmic (for instance) if your original trades were placed at the exchange via TTnet.

The only option is the one @mattz suggests in post #283. I have not had a chance to talk to AMP to see if I had X-Trader (a TT platform) could I use it to manage trades routed through TTnet off my SC platform without paying excessive fees for having X-Trader just for disaster recovery.

Clearly, from post 283, Matt is saying he could run this setup for you at Optimus using SC as your primiary platform and TT's platform (X-Trader, I think) as a back up for no additional cost.

@steve2222 to call TT fees "excessive" when you use it only for back up, is a bit of a gross exaggeration.
If you need to liquidate the last thing you need to do is think about an extra $1 RT while you have highly leveraged positions. Consider that TT is usually $700 to $1,500 with many FCMs, so an added dollar even for trading for such a caliber platform is reasonable. Also, if you were to call in any of the big wire houses may charge in access for $20 for call ins to flatten.

However, another thing comes to mind is the fact that through TT (to the best of my knowledge) you can set multiple logins credentials so long they are over the same IP. Namely, you can have SC and MC with the same TT credentials, and that way you pay less in execution if one platform malfunctions.

Clearly, one has to learn how to use any platform that he/she uses for back to avoid learning curves during what could be stressful moments

Thanks,
Matt
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #299 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
Posts: 1,896 since Sep 2009
Thanks Given: 3,379
Thanks Received: 1,540


mattz View Post
@steve2222 to call TT fees "excessive" when you use it only for back up, is a bit of a gross exaggeration.
If you need to liquidate the last thing you need to do is think about an extra $1 RT while you have highly leveraged positions. Consider that TT is usually $700 to $1,500 with many FCMs, so an added dollar even for trading for such a caliber platform is reasonable. Also, if you were to call in any of the big wire houses may charge in access for $20 for call ins to flatten.

However, another thing comes to mind is the fact that through TT (to the best of my knowledge) you can set multiple logins credentials so long they are over the same IP. Namely, you can have SC and MC with the same TT credentials, and that way you pay less in execution if one platform malfunctions.

Clearly, one has to learn how to use any platform that he/she uses for back to avoid learning curves during what could be stressful moments

Thanks,
Matt
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

@mattz,

You have interpreted my reply incorrectly - I was not saying TT's fees were excessive as a back up option.

I was trying to say that the TT back up option would be fine as long as you were not paying TT's usual costs for the platform (as well as for the primary trading platform - SC). So my intention was for the poster to check there would be no large monthly fee from TT (like to $700 to $1500 you refer to).

You reply seems to suggest that TT as a back up would only costs a R/T fee if used and obviously no one is going to have a problem with that.

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  #300 (permalink)
 
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 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
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steve2222 View Post
@mattz,

You have interpreted my reply incorrectly - I was not saying TT's fees were excessive as a back up option.

I was trying to say that the TT back up option would be fine as long as you were not paying TT's usual costs for the platform (as well as for the primary tradisung platform - SC). So my intention was for the poster to check there would be no large monthly fee from TT (like to $700 to $1500 you refer to).

You reply seems to suggest that TT as a back up would only costs a R/T fee if used and obviously no one is going to have a problem with that.

Understood. Since we were talking in the context of AMP/TT, I suggested that there is a pricing TT model only.
I understand that this may not be offered through everyone, so point well taken.

Thank you,
Matt
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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