NexusFi: Find Your Edge


Home Menu

 





New To The Forum and Looking For A Broker


Discussion in Brokers

Updated
      Top Posters
    1. looks_one Big Mike with 1 posts (0 thanks)
    2. looks_two bill999 with 1 posts (0 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 Space Jam with 1 posts (0 thanks)
    1. trending_up 1,926 views
    2. thumb_up 0 thanks given
    3. group 1 followers
    1. forum 3 posts
    2. attach_file 0 attachments




 
Search this Thread

New To The Forum and Looking For A Broker

  #1 (permalink)
Space Jam
Waterbury, CT
 
Posts: 1 since Nov 2015
Thanks Given: 0
Thanks Received: 0

Hello Traders,

I began trading futures a few weeks ago and so far the results haven't been bad. I think its beginners luck though. I've been using TD Ameritrade/ThinkOrSwim but the commissions are too expensive at $2.25 (I called in and they lowered me to $2.10 which makes no difference lol)

I've been reading the forum insanely and finally decided to make an account. I read what other traders have been saying about different brokers but my main concern is what happens if or when the economy collapses? I heard horrible stories of firms walking off with people's money and I don't want the same to happen to me. I guess being sheltered at TD gave me some security but with smaller brokers I'm not sure. To make it short here are some questions I'm struggling with. Again being sheltered at TD I never had to worry about this since they are a full service broker

What is FCM and their purpose?
What is self-clearing and their purpose?
What is the best broker? I've noticed alot of trader on the forum use Ninjatrader, why?
How do I go about finding the best data feed, and how do I know if I need one? ThinkOrSwim data feed was actually reliable

And also does anyone know anything about AMP Futures? I like how they have no/minimal platform fees

Any advice would be great as I plan on taking trading very seriously!

Also, Big Mike if I end up choosing a futures.io sponsored broker, how do I set it up so the website gets the credit for the help

Thanks,

Space Jam

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Deepmoney LLM
Elite Quantitative GenAI/LLM
NexusFi Journal Challenge - April 2024
Feedback and Announcements
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
27 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #3 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


Take some time to read the Brokers and Data Feeds section

https://nexusfi.com/brokers-data-feeds/

Do your research. Some brokers have terrible reputations and only prey on inexperienced users and should be avoided at all costs.

As for Elite Member discounts, after you become an Elite Member just click Elite Member top of any page for the list of discounts available.

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #4 (permalink)
 bill999 
Fort Myers, Florida
 
Experience: Master
Platform: TradeStation
Trading: Currency
Posts: 25 since May 2015
Thanks Given: 0
Thanks Received: 7

I've used Ninjatrader. You program in c#, Microsoft C. It's easier than C++. I was at a west coast broker and using a west coast server and trading forex. This dealer wouldn't take or execute my automated trade. I don't know what was wrong with it. So, I started trading manually. I was playing chicken with the BOJ, Central Bank of Japan. They are a money manipulator. When Shinzo Abe came in, that's when you could have made a killing. It's all timing. I've never tried automated trading with IB which is out of Chicago. I had fun with futures on TradeStation. But, their "Easy Language" isn't so easy. It's possible to pay through the nose and buy an automated system. They say trade 2% of your account, so you won't blow your account. I've blown a couple accounts. In the 80's, I used to call in my commodities trades; but I would get a broker who would push me into trades I shouldn't have taken. There are some brokers that what you to use their already made up programs and auto trade on IB. I wouldn't trust those, possible scam. Some automate to get into a trade and get out manually. Some get in manually and get out with an auto trade system. I believe getting in is easy, but getting out is the hardest of all. It's the mental part of trading that's the hardest. If you somehow can take the mental part out and control your fear and greed, be detached, trade fast and furious; it may work. Some people have a simple trending system. If it's trading sideways, they don't trade. To not trade is a trading decision. They set profit targets, money limits, stops, etc. I think you already have a good system. If you've conquered think-or-swim, that's the best I heard. Just perfect what you got. Extreme Greed is a bottomless pits which will swallow all you money.

Reply With Quote




Last Updated on November 9, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts