NexusFi: Find Your Edge


Home Menu

 





New account Sierra with Denali data- basic questions


Discussion in Brokers

Updated
      Top Posters
    1. looks_one TrendTrade with 1 posts (1 thanks)
    2. looks_two SBtrader82 with 1 posts (0 thanks)
    3. looks_3 ondafringe with 1 posts (4 thanks)
    4. looks_4 Kuuluud with 1 posts (1 thanks)
    1. trending_up 3,314 views
    2. thumb_up 6 thanks given
    3. group 8 followers
    1. forum 3 posts
    2. attach_file 0 attachments




 
Search this Thread

New account Sierra with Denali data- basic questions

  #1 (permalink)
TrendTrade
Los Angeles, ca
 
Posts: 4 since Nov 2014
Thanks Given: 1
Thanks Received: 2

I apologize in advance as I’m sure what I’m asking here is a fairly common question that has been answered but would love a little guidance.

I am looking to use Sierra chart to trade - coming from thinkorswim. I am used to everything all being inclusive under TOS so setting it up through separate sources is a little confusing. I generally think I understand but have a few “dumb questions” since I’m new at having to get multiple services to set up an account.

So my end goal is to trade ES, NQ, YM, ZB, ZC & CL

I am guessing this means I could use the “denali data” from Sierra chart? I like the idea of getting data from Sierra since it will work well with their platform in theory.

Question 1: Is that correct that Denali would work to trade those markets?

I also see there is “Sierra chart futures order routing service with data”

Question 2: what is this? Do I need it? when I first read the title of “routing service” I assumed it means I don’t need a dorman or Philip Capital- but then I read further and see I do need a broker (is that the right term? Again sorry new to having services so fragmented for setup) so what is this exactly and do I need it/ want it?

I wrote dorman to try and set up an account- they replied with: “We recently received your application for a new account. Please confirm: who is your broker through Dorman Trading? Are you currently working with a broker or would you like to be assigned to an in-house broker? Please respond to this email so that we may proceed with”

I replied- I am wanting a new account to self trade using Sierra chart platform and data”
I’m not sure what they are really asking me? Or if I need them?

I know there are IBs which if my understanding is correct act as a middleman to help get things set up? But I’m not sure I want/need one - because I question what value do they bring once my account is set up, and don’t they keep charging?

I saw the owner of optimus futures on many of these forums seemed very helpful, but wasn’t sure I wanted to keep paying extra fees once I’m set up, and was thinking I would just use Sierra data anyway etc.


So as you can see, I have some confusion on the clear path I need to go to.

My end goal is
-to have the best unfiltered raw tick data with the most depth possible for the markets I listed above
-trade on Sierra chart
-wishlist: would be also be able to access my positions / trading on mobile app (fine if different than Sierra - as long as I can buy/sell when on the go)
-would be great if the data could be used also in TradingView to accommodate the above wishlist of mobile trading- but not sure Denali would work that way


Any advice for a not so new trader, but very new to going outside the Tos ecosystem would be most appreciated!

Thanks!





Sent using the NexusFi mobile app

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Futures True Range Report
The Elite Circle
Exit Strategy
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
25 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #2 (permalink)
Kuuluud
Revali, EE
 
Posts: 47 since Aug 2015
Thanks Given: 1
Thanks Received: 84

Q1: If you go for Full CME Group (CME, CBOT, COMEX, NYMEX) with Market Depth for nonprofessional Trading accounts for $31.25 you access to all markets with Denali Exhange Data Feed

Q2: Please refer to https://www.sierrachart.com/index.php?page=doc/SierraChartOrderRoutingServiceWithData.php

Reply With Quote
Thanked by:
  #3 (permalink)
 
SBtrader82's Avatar
 SBtrader82   is a Vendor
 
Posts: 587 since Feb 2018
Thanks Given: 222
Thanks Received: 1,333


I am exactly in the same position, I am trying to figure out how to setup sierra with a broker.
The introducing brokers like Optimus, cannon or GFF they try to "push" towards other datafeed. .... like transact or rithmic.
The problem is that transact gave me some issues in the past and Rithmic is no more suppported my most recent versions of Sierra.
I hope some one in the forum has some answers.

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #4 (permalink)
ondafringe
Albuquerque, NM, USA
 
Posts: 124 since Jul 2012
Thanks Given: 87
Thanks Received: 117

I use AMP as my broker for trading MES. I use Sierra Chart Service Package 3, which is free through AMP. When I changed from Rithmic over to Denali, AMP took care of that so all payments would come out of my AMP account.

Denali is $20/Month -plus- 0.10/Side -plus- $2/Month Admin Fee on top of my $10/Month CME Exchange Fee -plus- various other fees. SC's Order Routing Service is required. My All-In Fee to trade 1 MES contract is 0.39/Side.

Reply With Quote
Thanked by:




Last Updated on July 3, 2020


© 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