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Looking for a new platform/broker for my futures spread trading....
We carry a mobile application called OTG Mobile Trader on iTunes.
You can play with it and see if it meets your needs.
The customers we have who use it are doing so via Rithmic.
If you like the app, we can find a platform that is Rithmic based.
Also, you can try CQG Q Trader which may work with m.cqg.com
TT is legendary, but I don't know their mobile iPhone side.
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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Can you help answer these questions from other members on NexusFi?
i traded spreads for many years. used TT autospreader when it was first released. it was awesome for the first few years (2002 to 2007) but was somewhat worthless when HFT came to dominate the market. A lot of slippage with TT autospreader. Some great fills and then some horrible fills.
fyi, if u trade treasury spreads the exchange has a spread market (think it is called Implied Ratio spreads) that automatically execute you order....no slippage. This was especially good in busy market conditions.
i am not sure what the monthly cost is now for autospreaders but my guess is that it is probably not worth the cost. u will get some bad fills. HFT's will be faster than u.
AFAIK the licensing costs are around $1.4k/month.
I tended to think like you but if our legenday @SMCJB is running 100s of autospreader on a $15K server I assume it still possible to make money with spreads without diving in the μ/nano second world and stay in the millisecond world.
I'm not familiar with the product but taking a look at the website, it seems that the intended value-add comes from the GUI and not the speed of execution. Obviously if you're interested in fast, programmatic access, you wouldn't be using a UI-oriented product.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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I'll try and recap what I said yday but don't have the time.
Energy has dozens (>100) electronically traded contracts, most with multiple years of forward contracts, which when combined with the weakness of matching engines leaves a lot of low-risk spread and butterfly opportunities.
Saying that I would not recommend a) doing it from a non-colocated server b) spreading/arbing like instruments (ICE WTI vs CME CL) or c) trying to leg anything that is exchange listed as a spread.
Re costs it's all a matter of scale. I agree sam's numbers are close. So lets say $15k for a server that lasts 3 years = $420 month. $500/month in hosting + $1400/month in software = $2320 a month.
If you leg a dozen structures a day that's that's about $9 a structure. With retail commissions that's probably about $25 to leg a butterfly, or $50 to get in or out which is 5 ticks
If you leg a hundred structures a day that's that's about $1 a structure. With okay commissions that's probably about $15 to leg a butterfly, or $30 to get in or out which is 3 ticks
If you leg a two hundred structures a day that's that's about $0.50 a structure. With low commissions (and a seat) that's probably less than $5 to leg a butterfly, or less than 1 tick to get in and out.
Has anybody used CME Direct as a trading platform ? (Advantage Futures offers CME Direct)
How does it compare with other platforms like X_Trader/CTS T4 in terms of usage and cost.
Obviously this will restrict trading with CME group only.
Thanks
Spread trading and options or just spread trading
Will you be using the same platform for futures?
Are u looking for something that can be robust even web based or primary trading is through desktop app?
regarding brokers I have spoken to Optimus and though have not pulled the trigger I am close to making a decision
Waiting for the right combination of platform and broker
message me and i can share my research experiences
TT pro user here with Sierra
