Confused about sim trading and real-time data

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Due to lots of work in my main line of business (self-employed) I haven't been able to spend much time studying price action and the markets over the past 12 months. I am easing my way back into it and although I am not in a rush, I do feel that I need to keep moving forward gradually. My plan is to take 2-3 hours a day to trade on sim 3-5 days a week, keep that up for a few months then see how things have gone.

However, I'm not sure how to set this up. I am basically watching the ES and - being based in the UK - I would like also to have the ability to watch the DAX and similar instruments. I have no interest in trading stocks.

I currently use Sierra Charts (package 5 Base Advanced) and their streaming delayed data. I find SC a bit obscure but also solid and full-featured - the more I dig, the more I find. Obviously, I don't want to be paying hundreds of dollars a month just to sim trade using real-time (more or less) data, but I accept that it will have to be more that the $36 I'm paying right now.

If I want to lose the 10 minute 10 second lag on my current SC package and access real-time data, my understanding is that I'll need to:

a) open a fully funded account (probably with somebody like Ironbeam?)
b) pay non-pro exchange fees
c) get a better package from SC

Is the above correct?

Particularly with the recent emergence of Teton at SC, I'm confused as to how this fits in with Denali. Is Teton a replacement for Denali or does it complement it? Also could I get DAX futures and other Euro issues through SC or has that been shelved?

Finally, although I'm using SC, I suppose I would consider another platform if a good case could be made for it.

Any guidance would be much appreciated.

Thanks
WW

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westernwind

Due to lots of work in my main line of business (self-employed) I haven't been able to spend much time studying price action and the markets over the past 12 months. I am easing my way back into it and although I am not in a rush, I do feel that I need to keep moving forward gradually. My plan is to take 2-3 hours a day to trade on sim 3-5 days a week, keep that up for a few months then see how things have gone.

However, I'm not sure how to set this up. I am basically watching the ES and - being based in the UK - I would like also to have the ability to watch the DAX and similar instruments. I have no interest in trading stocks.

I currently use Sierra Charts (package 5 Base Advanced) and their streaming delayed data. I find SC a bit obscure but also solid and full-featured - the more I dig, the more I find. Obviously, I don't want to be paying hundreds of dollars a month just to sim trade using real-time (more or less) data, but I accept that it will have to be more that the $36 I'm paying right now.

If I want to lose the 10 minute 10 second lag on my current SC package and access real-time data, my understanding is that I'll need to:

a) open a fully funded account (probably with somebody like Ironbeam?)
b) pay non-pro exchange fees
c) get a better package from SC

Is the above correct?

Thanks
WW

The above is correct. Further, real-time data is cheaper than it's been in the past, especially if you open a fully funded account.

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BA 21

The above is correct. Further, real-time data is cheaper than it's been in the past, especially if you open a fully funded account.

Thank you, good to know. Generally speaking the environment for day traders seems pretty good these days. I remember back in the 1990s even getting historical daily data was problematic for markets outside the US, and data for the US itself was expensive.

Mods: not sure if this thread should have been in the Sierra Chart forum but I thought it might have wider relevance. Please feel free to move it if you think fit.

WW