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Trading Costs
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Created: by CASAMANIA Attachments:0

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Trading Costs

  #1 (permalink)
Just starting out...
andorra
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: gbp/us
 
Posts: 2 since Apr 2011
Thanks: 3 given, 0 received

Trading Costs

Hi Everyone I have recently started trading with Ninja Trader and I seem to be doing reasonably well but the costs are high. I am using AMP and their CQG connection is there a cheaper way to trade ??

Thanks ADBE for your reply, I meant the commision charges


Last edited by CASAMANIA; May 5th, 2011 at 01:34 PM.
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: FlatTrader
Broker/Data: GFT and Interactive Brokers
Favorite Futures: ES, DAX
 
Posts: 531 since Aug 2010
Thanks: 2,121 given, 719 received



CASAMANIA View Post
Hi Everyone I have recently started trading with Ninja Trader and I seem to be doing reasonably well but the costs are high. I am using AMP and their CQG connection is there a cheaper way to trade ??

Hi CASAMANIA,

which costs do you mean, for trade execution (comission) or data feed? When itīs the data feed, than itīs possible without any costs. I have an account with InteractiveBrokers just for the free futures data and I use it in conjunction with NT. Hope this helps,

Abde

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  #4 (permalink)
Just starting out...
andorra
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: gbp/us
 
Posts: 2 since Apr 2011
Thanks: 3 given, 0 received

Thanks Adbe I meant the commision charges

Gary B

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  #5 (permalink)
Elite Member
Italy (IT)
 
Futures Experience: Advanced
Platform: ATAS, R|Trader, NT8
Broker/Data: Rithmic
Favorite Futures: CL, Brent, GC, TF
 
LukeGeniol's Avatar
 
Posts: 1,501 since Apr 2010
Thanks: 408 given, 974 received

@CASAMANIA, do a search here on broker and datafeed section, or use the search tool https://futures.io/wiki/trading-wiki/How-to-Search-on-futures.io (formerly BMT)

Take your Pips, go out and Live.
Luke.
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  #6 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received

comms are directly correlated to how much you trade.. meaning, your volume... , which is also directly related to your account size... best comms will be obtained from Crossland and Advantage futures... as long as your account size is $25K and you trade close to 1K contracts per month or more on average... comms are only a part of the equation.. exchange costs can be reduced via leasing a seat as long as your volume can justify it.. and depending on what you trade of course..

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  #7 (permalink)
Elite Member
Miami Beach, FL, USA
 
Futures Experience: Intermediate
Platform: Sierra Charts
Favorite Futures: ES, YM, NQ, TF, 6A, 6B, 6C, 6E 6J
 
Posts: 12 since Dec 2010
Thanks: 235 given, 14 received

Trading expenses

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This post has been selected as an answer to the original posters question Answer

Hey Casa Mania,

You asked a really excellent question. I am an active trader and 100 round turns per day is not unusual for me. That adds up comission wise, like 500 bucks most places I trade. But I suspect there is more below the surface?

You and I as retail traders, we trade quarters. In other words, if we are trading the ES we are filled at 00, 25, 50, or 75. Our brokers are trading the bigs, which are filled in dimes, in other words their orders are filled at 00, 10, 20, 30, 40, 50, 60, 70, 80, 90.

So, this means that when you place your limit order at "say" something .50, your broker will not fill you unless he is able to "offlay" your position at his dime less or .40. Then he fills you and he has your dime in his pocket.

Anybody who has traded for a long time begins to realize this is not a fair game.

Essentially you as a retail trader are at the mercy of your broker. "If your broker fills you at one tick less or more how would you know?"

My only good advice is too "Trade on a SIM account for at least 3 months."

I hope more experienced traders will correct any errors in my answer to Casa Mania's question.

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  #8 (permalink)
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donzi View Post
So, this means that when you place your limit order at "say" something .50, your broker will not fill you unless he is able to "offlay" your position at his dime less or .40. Then he fills you and he has your dime in his pocket.

huh?! are you saying that all FCM's internalize order flow and front run customer orders? and that as such there is no such thing as Direct Market Access, given the "broker" is the one taking the other side of your transaction?...

do you even realize the order matching takes place at the exchange/clearinghouse and not the broker? actually, the "broker" is not even touching your orders, assuming that you are using the most common term for broker (which refers to your sales rep) ... the FCM would route the order to the clearing member or the exchanges and the matching engines would be the ones doing the obvious task...

at their simplest level... trading costs have only two dimensions...

1) Commissions Costs
2) Clearing and Exchange Costs

You can influence #1 by trading size and lots of volume, they will not be the main target to truly reduce costs... #2 can only be addressed by having membership (leased or owned) and they make up 70% of your per contract transaction costs.. as retail you pay 3x-4x what a member pays..


donzi View Post
My only good advice is too "Trade on a SIM account for at least 3 months."

great advice, how is it relevant to the question?

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  #9 (permalink)
Elite Member
Miami Beach, FL, USA
 
Futures Experience: Intermediate
Platform: Sierra Charts
Favorite Futures: ES, YM, NQ, TF, 6A, 6B, 6C, 6E 6J
 
Posts: 12 since Dec 2010
Thanks: 235 given, 14 received

Casa Mania was "just starting out"

Hey guys, I am new here, so I am just poking my head up with a post...

Essentially Casa mania was asking "is this a fair game?"

And my answer was and is "no this is not a fair game"

"If a fair man flips a good nickel 100 times, he will get almost about 50 heads and 50 tails, yet 95% of new traders blow out quickly" New traders beware.

They, and I mean "they" have a new weapon, the flash crash, when their trades are not working out, they will silently get short and spring the new "flash crash" on you.

"They" have not invented the new improved - "flash crash UP yet" but wait, as soon as enough of us buy protection to the downside, "they" will crash it up.

Please know that when you trade anything, you are betting against the smartest and wealthiest people in the world. Do not ever think that trading will be easy.

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  #10 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 844 received



donzi View Post
Hey guys, I am new here, so I am just poking my head up with a post...

Essentially Casa mania was asking "is this a fair game?"

not sure where you got that, the OP post was


CASAMANIA View Post
Hi Everyone I have recently started trading with Ninja Trader and I seem to be doing reasonably well but the costs are high. I am using AMP and their CQG connection is there a cheaper way to trade ?? Thanks ADBE for your reply, I meant the commision charges


so not sure where you get what you are arguing.. the question from the OP is in red, but it appears your answer (even if not related to the question) is what he was looking for... go figure..

furthermore, I could not figure out the point or position of the remainder of your comments/argument... so I am just signing off this thread.. it doesnt seem that anything real will be discussed since you are just quoting generic things, and some very wrong information.. so best to move on.

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