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Broker dilemma
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Broker dilemma

  #1 (permalink)
Rome Italy
 
 
Posts: 17 since Apr 2019
Thanks: 18 given, 14 received

Broker dilemma

I am a trader who likes to keep it simple. I only use order flow, inter-market correlations & pivot levels as variables of my strategies. I have a huge dilemma on which broker would be ideal for me; ninjatrader or tradestation? Which broker offers the best executions/fills? I only use footprint charts as an 'indicator' if you may call it one... so I'm looking for a simple platform with no lag and great fills, that's all. Any suggestions?

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  #2 (permalink)
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  #3 (permalink)
Cologne Germany
 
Trading Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: Emini ES
 
Posts: 1 since Mar 2019
Thanks: 0 given, 1 received


I'm using Sierra Chart (Footprint and so on). That's a good platform for that. My broker is IB (only for the order execution, not the datafeed, because the IB datafeed is quite poor). I think, that's a good combination. Did you ever try Sierra Chart? It could be a good alternative.

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  #4 (permalink)
Rome Italy
 
 
Posts: 17 since Apr 2019
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Galactor View Post
I'm using Sierra Chart (Footprint and so on). That's a good platform for that. My broker is IB (only for the order execution, not the datafeed, because the IB datafeed is quite poor). I think, that's a good combination. Did you ever try Sierra Chart? It could be a good alternative.

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Hey, Thanks for your reccomendation. I forgot to mention that I would be trading via topsteptrader. Therefore, my only options are Ninjatrader or Tradestation...

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  #5 (permalink)
Chicago, IL
 
Trading Experience: Intermediate
Platform: SierraChart
Favorite Futures: /ES /CL
 
Posts: 15 since Mar 2018
Thanks: 4 given, 20 received

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Incognito View Post
Hey, Thanks for your reccomendation. I forgot to mention that I would be trading via topsteptrader. Therefore, my only options are Ninjatrader or Tradestation...

With TopStepTrader you should be able to use SierraChart. As per TST you can use any platform that supports Rithmic.

https://help.topsteptrader.com/hc/en-us/articles/115001385747-What-if-my-preferred-platform-isn-t-listed-

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  #6 (permalink)
Super Moderator
Sarasota FL
 
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, YM
 
bobwest's Avatar
 
Posts: 5,154 since Jan 2013
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Incognito View Post
I am a trader who likes to keep it simple. I only use order flow, inter-market correlations & pivot levels as variables of my strategies. I have a huge dilemma on which broker would be ideal for me; ninjatrader or tradestation? Which broker offers the best executions/fills? I only use footprint charts as an 'indicator' if you may call it one... so I'm looking for a simple platform with no lag and great fills, that's all. Any suggestions?


Incognito View Post
Hey, Thanks for your reccomendation. I forgot to mention that I would be trading via topsteptrader. Therefore, my only options are Ninjatrader or Tradestation...

You've got more choices than that with Topstep, unless I didn't understand you:
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(Source: https://help.topsteptrader.com/hc/en-us/articles/115010515748-Platform-Comparison- )

Also, they seem to be expanding their list now and then. I think that you can use any trade platform that can use Righmic on request... Here is a detailed list of at least some that are supported: https://help.topsteptrader.com/hc/en-us/categories/202873907-Trading-Platforms

It gets more complicated, because NinjaTrader Brokerage, for instance, is an "Introducing Broker" -- your actual account (in terms of which firm has your money) is not with them, but with either Dorman Trading or Phillip Capital, the "FCM's" ("Futures Commission Merchant" -- yeah, that's a dumb thing to call it, but it means, "your broker") that NT "introduces" you to. Then it's more complicated than that, because executions will depend on the trade service your FCM uses (I believe one uses CQG and the other uses Rithmic, but I don't recall now.)

Now, TradeStation is one integrated thing, an FCM with its own trading platform (and data and trade feed.) Although this makes it simpler, it may not necessarily make it better (or worse, either.)

More, the questions about executions (fills, etc.) are not the same as the questions about platforms (meaning: the trading software application you have on your screen that you enter trades into.) Generally, execution may not depend on broker (FCM) either, but on the data/trading service (CQG, Rithmic, etc.). Dang.

So which is better? Don't blame me when I say "that depends" -- I'm just trying to fill out the picture of what is going on.

How to decide?

I suspect most people do as I have done -- when I used the NinjaTrader software, I let TST hook me up to whoever they used with Ninja; now that I prefer Sierra Chart, they can connect me to whoever they want to use for that. I don't know much about TradeStation -- I believe they do their own data and trade routing, so someone with experience with them may have more to say.

But in general, I would go first with the trading software (NT, Sierra, whatever) and assume the executions will work well, unless I had definite information to the contrary.

Bob.

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  #7 (permalink)
Rome Italy
 
 
Posts: 17 since Apr 2019
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bobwest View Post
You've got more choices than that with Topstep, unless I didn't understand you:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



(Source: https://help.topsteptrader.com/hc/en-us/articles/115010515748-Platform-Comparison- )

Also, they seem to be expanding their list now and then. I think that you can use any trade platform that can use Righmic on request... Here is a detailed list of at least some that are supported: https://help.topsteptrader.com/hc/en-us/categories/202873907-Trading-Platforms

It gets more complicated, because NinjaTrader Brokerage, for instance, is an "Introducing Broker" -- your actual account (in terms of which firm has your money) is not with them, but with either Dorman Trading or Phillip Capital, the "FCM's" ("Futures Commission Merchant" -- yeah, that's a dumb thing to call it, but it means, "your broker") that NT "introduces" you to. Then it's more complicated than that, because executions will depend on the trade service your FCM uses (I believe one uses CQG and the other uses Rithmic, but I don't recall now.)

Now, TradeStation is one integrated thing, an FCM with its own trading platform (and data and trade feed.) Although this makes it simpler, it may not necessarily make it better (or worse, either.)

More, the questions about executions (fills, etc.) are not the same as the questions about platforms (meaning: the trading software application you have on your screen that you enter trades into.) Generally, execution may not depend on broker (FCM) either, but on the data/trading service (CQG, Rithmic, etc.). Dang.

So which is better? Don't blame me when I say "that depends" -- I'm just trying to fill out the picture of what is going on.

How to decide?

I suspect most people do as I have done -- when I used the NinjaTrader software, I let TST hook me up to whoever they used with Ninja; now that I prefer Sierra Chart, they can connect me to whoever they want to use for that. I don't know much about TradeStation -- I believe they do their own data and trade routing, so someone with experience with them may have more to say.

But in general, I would go first with the trading software (NT, Sierra, whatever) and assume the executions will work well, unless I had definite information to the contrary.

Bob.

Very helpful! Thanks so much! I'll be going with Ninjatrader since I've been sim trading on it.

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  #8 (permalink)
Allen Texas/USA
 
 
Posts: 3 since Mar 2016
Thanks: 5 given, 1 received

Sierra and Rithmic

Be aware that Sierra drops the Rithmic feed from time to time during the day. I would not use Sierra as my only way to trade thru Rithmic.

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  #9 (permalink)
London, UK
 
Trading Experience: Advanced
Platform: Sierra Chart
Broker/Data: IB
Favorite Futures: ES
 
mgcharl's Avatar
 
Posts: 348 since Aug 2010
Thanks: 914 given, 1,374 received


stoptions View Post
Be aware that Sierra drops the Rithmic feed from time to time during the day. I would not use Sierra as my only way to trade thru Rithmic.


I had that problem too but managed to find a workaround. If you add a quoteboard and add the current contract youíre trading it must continuously poll the Rithmic API which prevents the timeout issue that causes the disconnects. I just leave the quote board minimized and havenít had any problems since.


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  #10 (permalink)
Denver Colorado/USA
 
Trading Experience: Intermediate
Platform: SierraChart
Broker/Data: AMP
Favorite Futures: Bonds
 
LittleFinger's Avatar
 
Posts: 104 since May 2017
Thanks: 111 given, 120 received


I have been playing with SC for a couple years and would recommend it. If you are considering using Tradestation I would read this review I saw recently:
https://futures.io/tradestation/23297-why-do-you-use-tradestation-3.html#post707834

The ACSIL features in SC seem to be robust and well thought out. I am enjoying learning how to code my own strategies in it.

I haven't played with the DOM and manual trading features much but they look adequate.

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