Looking for a New Broker/Platform for my Needs: Help!
Currently Use: MB Trading and their MBT Desktop Pro platform to swing-trade small-caps and occasionally day-trade 3x ETF. Satisfied customer.
Why New Broker? I used to day-trade futures on MBT, but stopped when they segregated futures and equities accounts, and was too lazy to fund a separate futures account via check/wire since I only traded once or twice a week. I settled for trading the 3x Bear ETF. But now I'm looking to get back into trading futures, but I:
a) Don't want to keep all my money at MBT anymore. I want to diversify my money with another broker.
b) MBT no longer offers trading for Russell e-mini, and I would like to have access to it (I normally trade YM & TF).
c) MBT's data feed is only fair, and I'd like to explore better options.
What are my needs? My needs are relatively simple:
1) Good-looking, user-friendly candlestick charts with line tools. Do not require any studies, indicators, backtesting, scanners. The closer it looks or feels to eSignal or MBT Desktop Pro, the better. I prefer something that's user-friendly out-of-the-box like those two rather than something like Sierra Chart, which while extremely customizable, I got a headache trying to make it look and operate similar to my old platforms. Going to try out NinjaTrader tonight.
2) I don't do any special orders (OCO), just basic market, limit, stop market/limit orders. Don't need Market Depth, Level 1 is sufficient. My system is based off entering at the end of 2-min, 3-min, 5-min bars, so in terms of data feed, just need something that's fast and accurate, but I'm not following tick-by-tick.
3) With MBT, I would get the platform and data for free. Commissions would be $2.01/side for YM. I'm not a stickler for commissions, since I would only be trading once or twice a week (3-10 contracts) each trade.
Bottom line is that I just need a simple, low-cost solution where I can place 6 candlestick charts (2, 3, 5 min intervals) - with diagonal and horizontal lines - on my screens, with a couple of order entry windows for YM and TF, similar commissions (don't mind if slightly higher), and a fast/accurate/reliable data feed.
Any suggestions? I've looked into Minus/Ninja for their free Direct platform.
Personally, I would first settle on the best platform for your needs. Then pick the best supported broker on that platform.
As such, you should really review threads in the Platform section of the site and find the platforms that you like the best as a first step.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post: