Im still doing tests on this instrument.... I recently switched to NQ from ES since it trends better, $70 month is not that big of a deal.
I've seen some people claim they make a 6k+ a month( im not saying who, but some are on this board ), and all of a sudden they can't afford $70...lol
Makes me wonder.
I've also seen some professionals with websites doing the same thing, and they charge their customers $300+ a month), and their dropping it as well. For people that are doing this for a living, i don't see why they consider this to be so expensive. Granted, free is always better, but Its the cost of business.
If I was trading TF the last year or two instead of CL, then clearly $70 is not a big deal. What makes it a "big deal" for me is that I was previously recommending TF to newer traders because I felt it was a good match (lower tick cost, not as fast as an instrument, etc). Now I can't really do that, because most new traders won't pay $70 a month for a single instrument, they will just look elsewhere.
So it's clear that they believe there are enough retail traders that love the instrument to pay for it, or perhaps they believe they don't need as much retail business no matter.
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I absolutely agree with you a 100%, newer traders that are starting to learn with no experience, thats a big one. And i do agree with you in a sense that I think its not a good business move on their end. However, I'm talking about people who consider themselves gurus who trade this instrument almost everyday( although not exclusively), and complaining about the cost, to me it doesn't make sense. $70 is 7 ticks on the TF. Anyone who can trade that instrument, should be able to afford the monthly cost.
I can almost guarantee that you would prob be pissed if you had to pay that much to trade the CL every month, but you would ultimately pay, since its your bread and butter. You wouldn't drop it like a bad habit as soon as you heard the news.
Thats why it was a bit of a shock when i heard that from them.
I don't think the TF data fees should be free (maybe about $20/month) but what I think is a complete joke is a jump up to $70 dollars for a "B" tier instrument. The TF is loaded up with retail traders liquidity and many who are newer to trading. The ICE group is making a dumb move jacking fees for an instrument that is not at all in the league of the ES, ZB, or CL.