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Recommendation for broker/platform/data for scalp/trading stocks


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Recommendation for broker/platform/data for scalp/trading stocks

  #31 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518


NinjaTrader View Post
For clarification, NinjaTrader can be acquired in various ways.


  • Fully functional simulation only - Always FREE
  • Basic live trading version - FREE (with NinjaTrader Brokerage account)
  • Live trading version lease - $60 per month paid quarterly
  • Live trading version lifetime license - $999



Also, there's a multi-broker NinjaTrader license.

I have one. I broker with IB and NinjaTrader Brokerage FXCM.

Do you guys still offer it, please?

Ron


Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #32 (permalink)
 Grantx 
Reading UK
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Blash View Post
Here is a quick video I made for you on my internal from IQFEED...



and here is an example of my data I get from them...(made this IQFEED pic for another post that's why I put a square around the market depth info)

Ron, thanks so much for taking the time to make that video!
So do you trade both forex and futures?

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  #33 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518



Grantx View Post
Ron, thanks so much for taking the time to make that video!

So do you trade both forex and futures?



Yes. FX with an eye mainly towards swing trading.

Ron


Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #34 (permalink)
 
NinjaTrader's Avatar
 NinjaTrader  NinjaTrader is an official Site Sponsor
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Elite offer: Click here
 
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Blash View Post
Also, there's a multi-broker NinjaTrader license.

I have one. I broker with IB and NinjaTrader Brokerage FXCM.

Do you guys still offer it, please?

Ron

Yes we do.

$90 per month paid quarterly lease
$1,499 lifetime license

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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  #35 (permalink)
 
nathanologist's Avatar
 nathanologist 
Burlington, Vermont
 
Experience: Beginner
Platform: StockTwits
Broker: Robinhood
Trading: ES, GC, ZB
Posts: 708 since Jun 2015
Thanks Given: 879
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Grantx View Post
Am I correct in saying that in order to trade futures I need the following:
1. Pay for a platform such as ninja trader. $900
2. Pay for a data feed. $50 to register and then $78 per month.
3. Pay IB a monthly fee (How do they fit into this picture? Im paying for a platform and datafeed already)
4. Buy a 'proper' VSA indicator because the standard ones are pointless. Dont know how much I imagine about $500?
5. $100 subscription to this site

What other costs are involved to get properly setup?

I traded futures when I got started out using the free version of NT7 Direct Edition(I think), starting a NT brokerage account for $1000 deposit, data was through NT Brokerage for $5/month (I think it's just for ES, NQ, and a couple other instruments) and pestering A LOT of the regulars on this forum for advice and explanations of context, not to mention a lot of chart posts in the public (at the time) spoonalysis threads. Also free is the Adam Grimes trading course, which I discovered after viewing the Adam Grimes random lines webinar on this site.

What I mean to say is, you can trade futures for a $1000 deposit, $5/month, and $4.48 per contract all-in round turn commissions. this was my set up for about a year while I explored trading futures. To avoid inactivity fees ($25 I think) I made 1 live trade of one contract per month. I used a 2 tick stop so that the losing trade was about the same as inactivity fees, and traded in the direction of a strong move so that much of the time the stop wasn't hit. By the end of year 1 my account balance was just over $2000, my max draw down was about $250. Was it smart or safe? Most would say not really, but I feel that it was suitably low risk and affordable way to learn.

I know guys who literally have spent thousands if not tens of thousands of dollars on systems and data and newsletters and all manner of "education" and have barely made 50 live trades in the last 5 years. But none of that is necessary IMO.

@Blash recommendations in the first reply is about as good as it gets. Another set-up that I think many would recommend is the sierra chart, IB, IQfeed.

The best money I've spent in getting started is the money I've lost. The second best is the $100 elite membership to this forum after suffering my biggest daily draw down. The gomi scripts/indicators/infrastructure for NT7 alone were worth that. But the advice from very experienced traders on this forum is invaluable, and much of that can be had without being an elite member.

Nate
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  #36 (permalink)
 Grantx 
Reading UK
Legendary no drama Llama
 
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Blash View Post
Here is a quick video I made for you on my internal from IQFEED...

Hey Blash, What is the name of the footprint indicator that you are using in your video? Is that NT8?

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  #37 (permalink)
 
Blash's Avatar
 Blash 
Chicago, IL
Legendary Market Chamois
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518


Grantx View Post
Hey Blash, What is the name of the footprint indicator that you are using in your video? Is that NT8?



Hey there,

Acme Volume Impression.

This is a Rancho Dinero tool, yes for NT8.

Ron


Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #38 (permalink)
 Grantx 
Reading UK
Legendary no drama Llama
 
Experience: None
Posts: 1,787 since Oct 2016
Thanks Given: 2,826
Thanks Received: 5,058


Blash View Post

Hi Ron,
What does the 'market depth' option provide you?
And the Globex level2 non pro?

Thanks,
Grant

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  #39 (permalink)
 pragma 
Des Moines, Iowa/USA
 
Experience: Beginner
Platform: Ninjatrader, IB
Trading: ES, NQ
Posts: 2 since Oct 2015
Thanks Given: 4
Thanks Received: 0


Seahn View Post
The $0.53 is the NT Brokerage commission, to that you need to add clearing fees, exchange fees, regulatory fees. In total for a lifetime license the commission is $3.62 per round turn for the ES it is more for other contracts. You need to look at the "all in commissions" on the NT web site.

All-in commissions on NT site for ES

Exchange Fee + NFA + NT Commission Lifetime License

As of 1/5/2017: 1.19 + 0.10 + 0.53 = 1.82 (3.64 for RT)

On 9/8/2015: 1.16 + 0.01 + 0.53 = 1.70 (3.40 for RT)

On 11/10/2014: 1.15 + 0.01 + 0.53 = 1.69 (3.38 for RT)

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  #40 (permalink)
 alaghafx 
Riyadh, KSA
 
Experience: Intermediate
Platform: MetaTrader
Trading: Currency
Posts: 8 since Nov 2016
Thanks Given: 17
Thanks Received: 0


Please advise me of couple of Brokers to:
- Invest around 500k$ of Capital
- UK FCA regulated
- Offers CFA Forex
- Offers MT4 as Trading Platform

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