Is There A Commission Free Forex Broker For Ninja? - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Is There A Commission Free Forex Broker For Ninja?
Updated: Views / Replies:3,178 / 17
Created: by mokodo Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Is There A Commission Free Forex Broker For Ninja?

  #1 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received

Is There A Commission Free Forex Broker For Ninja?

Hi Brothers & Sisters,

I'm after a little advice. Thanks in advance for any feedback.

I'm currently with MBT and run Ninja for my automated strategies. These are mostly 15 min timeseries, trading a few times a week and use limit orders either one or both sides so I cut down on commissions. All very helpful to the bottom line.

I've developed a scalper strategy that works well on the 3 min and takes 30 or so trades /day per pair. This strategy does not use any limits and the MBT commissions take a painfully large bit from the profit.

I know that MBT and Oanda run commission free with MetaTrader 4 automation, but I am loathed to run two platforms if I can help it - so does anyone know a (preferably ECN) broker that's NT compatible with commission free trading?

Thanks again for any info

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,169 received


One way or another you will pay to play. No commission = slippage or mark-up.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #4 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received

Thanks Mike. Yes there is the entry fee, I suppose what I am after is feedback from others running scalping strategies that have managed to get these as low as possible. The difference between spreads for MBT comparing the commission free and paid for limits model are available below.

http://www.mbtrading.co.uk/freeEXN.aspx

http://www.mbtrading.com/pricing.aspx

A quick comparison and the spreads are more on the commission free of 0.1-0.3 pips on the most popular pairs. But this fluctuates and can be less than the paid for limits version.

I can make a decision on how to proceed after crunching some numbers from live trades, but looks like switching to free commission will increase returns significantly in my case.

Reply With Quote
 
  #5 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received

Wouldn't it be better to use the LMAX Exchange ?

Reply With Quote
 
  #6 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received

Wouldn't it be better to use the LMAX Exchange ?

I have not used LMAX, are you suggesting hooking up NT to LMAX via their API?

And for anyone else in a similar situation, I have just come off the phone with MBT support who tell me their commission free EXN model is in the process of being integrated to their Desktop Pro software (which NT hooks into). Will be no sooner than 3 months, so looking at August 2012.

Reply With Quote
 
  #7 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,169 received

Not to upset anyone, but I think if you are this considered about commissions or slippage, it is time to move up to futures.

Forex is an excellent learning vehicle. The position sizing is far superior to that of futures or equities. The entry barrier is very low. But it is not an ideal model when it comes to efficiency of low cost commission + zero to minimal slippage. Futures is better once you start trading big enough.

So I would encourage you to not spend a huge amount of time on this in the forex world. Better to find a reputable firm, get your experience built up, and then if you start increasing your transactions and size consider looking at futures.

Likewise, for new traders - I recommend against futures, and instead recommend they start with forex.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #8 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received

Thanks Mike, yes I had already (briefly) considered futures as the transaction costs would be less, but had not worked up a detailed scenario mainly due I suppose to being a blinkered forex trader!

Thanks for the nudge, I think I will demo trade the E7 with MBT and make a comparison.

Reply With Quote
 
  #9 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,169 received


mokodo View Post
Thanks for the nudge, I think I will demo trade the E7 with MBT and make a comparison.

Isn't E7 futures? That's the half sized 6E (Euro), yes? A better comparison to micro spot forex would be the micro CME FX futures, M6E at $1.25/tick.

When trading micro futures, I always encourage you to chart the full sized contract (6E) but trade the micro. Same applies to oil, chart CL but trade QM -- until you are ready to increase size to the full sized contract.

Don't risk more than 1-2% per trade.

Good luck,

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #10 (permalink)
 Vendor: www.indicatorx.com 
Bridgwater, UK
 
Futures Experience: Beginner
Platform: Ninjatrader
Broker/Data: MB Trading
Favorite Futures: Forex
 
mokodo's Avatar
 
Posts: 384 since Jun 2011
Thanks: 525 given, 344 received


Hi Mike,

Thanks for the ongoing advice. So you are saying to consider running the (automated) strategy off a E6 chart and submit orders for the micro contract? I am assuming that prices will be the same but better liquidity on the full size contract ensures comprehensive price data.

I'll search through this and other forums to gauge experiences others have had of the M6E, as I believe volumes can be thin and that may impact this particular strategy where average trade is 6 pips.

Reply With Quote

Reply



futures io > > > > Is There A Commission Free Forex Broker For Ninja?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ninja Trader Forex broker deanoky Currency Futures 6 February 28th, 2015 11:48 PM
FOREX broker that's compatiable with NINJA TRADER platform......... mdsvtr Reviews of Brokers and Data Feeds 6 January 30th, 2013 02:04 PM
Forex Commission Based Broker vinceb Reviews of Brokers and Data Feeds 10 October 26th, 2010 08:50 AM
Enter to win: Ten commission free trades from Mirus Futures Big Mike Feedback and Announcements 12 June 30th, 2010 10:26 AM
How do we calculate MB's new forex commission structure? Dragon Reviews of Brokers and Data Feeds 7 May 8th, 2010 03:30 AM


All times are GMT -4. The time now is 11:27 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-21 in 0.11 seconds with 19 queries on phoenix via your IP 54.144.57.183