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Fastest Brokers to use when scalping ES mini's- using ThinkorSwim now,thoughts???


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Fastest Brokers to use when scalping ES mini's- using ThinkorSwim now,thoughts???

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  #1 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
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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

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  #3 (permalink)
Indianapolis, IN USA
 
Experience: Advanced
Platform: Ninjatrader TOS Custom
Broker: Several
Trading: ES CL ZB
 
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Rad4633 View Post
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

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.

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  #4 (permalink)
Minneapolis, MN
 
 
Posts: 45 since Jul 2011
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timefreedom View Post
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.

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  #5 (permalink)
Austin, TX
 
Experience: Master
Platform: ninjatrader, r-trader
Trading: CL, NG, TF, NQ, YM, GC, ES
 
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Posts: 862 since Jun 2011
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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."
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  #6 (permalink)
Northern California
 
Experience: Intermediate
Platform: TOS, IRT
Broker: Velocity/iQfeed
Trading: Currency, Dow Futures
 
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Rad4633 View Post
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


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.

Good luck.

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  #7 (permalink)
Chicago, IL USA
 
Experience: Intermediate
Platform: MultiCharts + CTS T4
Broker: Advantage Futures, IQFeed.net
Trading: YM, ES, EU, US, S
 
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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.

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  #8 (permalink)
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
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Posts: 1,352 since Sep 2011
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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.





liquidcci View Post
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.


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  #9 (permalink)
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  #10 (permalink)
Austin, TX
 
Experience: Master
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Rad4633 View Post
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.

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."
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