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Might be a simple way, if you want NT charting. It will mean you still will have to execute inside ToS and not from the NT chart, which would be a hassle if you are trading short-term, but not necessarily if you have a long-ish timeframe (e.g., you're not jumping in and out on something like a 1-minute chart.... which you should not be doing in an IRA anyway.)
Think about that. It would be awkward but it may work out, and you don't have to put that much money into NT just to have the account, which essentially you would never actually trade. You would use it just for cheaper charting, and the minimal funds you put in it are not lost, just idle until you take them back out.
If you're doing this solely for your IRA, I wouldn't bother with the IRA paperwork for NT, just open an individual account with the minimum balance and leave it there.
One other point is that you have written that "I thought I could help the account grow by trading Futures." I hope you understand how very quickly you can have large losses in futures, and that the highly leveraged trading that is done there is a very good way to kill an account. If you're going to trade IRA money in futures, make sure it is a small amount of the total in the account, and practice very good loss control. Seriously, you can easily wipe out your entire IRA with only a few trades. The mindset and risk tolerance for a retirement account and for a leveraged, high-risk trading account are very different, and if you're just starting in futures, you may learn the risks the hard way.
Be careful out there.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Can you help answer these questions from other members on NexusFi?
Thank you, Hedgeplay. I have a call into IB, and waiting for some info. I think my only problem may be the amount they ask for to open an account. Otherwise, thank you for your thoughts- and thank you to all who departed their trading wisdom.
I found a really good way using Tos datafeed for futures with IB.
Medvedtrader allows you to use TOS and IB simultaneously. TOS delivers the future realtime data and you can
trade in your IB account. Ok Medvedtrader is not Ninja so you cannot use tickdata but for minute data itīs absolutely
reliable and effective and you havenīt to pay a penny for future data. Only the $20 for medvedtrader .
