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Looking for a New Broker/Platform for my Needs: Help!
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Looking for a New Broker/Platform for my Needs: Help!

  #1 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: MBT Desktop Pro
Favorite Futures: YM, TF, small caps
 
Posts: 16 since Jun 2013
Thanks: 0 given, 2 received

Looking for a New Broker/Platform for my Needs: Help!

Currently Use: MB Trading and their MBT Desktop Pro platform to swing-trade small-caps and occasionally day-trade 3x ETF. Satisfied customer.

Why New Broker? I used to day-trade futures on MBT, but stopped when they segregated futures and equities accounts, and was too lazy to fund a separate futures account via check/wire since I only traded once or twice a week. I settled for trading the 3x Bear ETF. But now I'm looking to get back into trading futures, but I:

a) Don't want to keep all my money at MBT anymore. I want to diversify my money with another broker.
b) MBT no longer offers trading for Russell e-mini, and I would like to have access to it (I normally trade YM & TF).
c) MBT's data feed is only fair, and I'd like to explore better options.

What are my needs? My needs are relatively simple:

1) Good-looking, user-friendly candlestick charts with line tools. Do not require any studies, indicators, backtesting, scanners. The closer it looks or feels to eSignal or MBT Desktop Pro, the better. I prefer something that's user-friendly out-of-the-box like those two rather than something like Sierra Chart, which while extremely customizable, I got a headache trying to make it look and operate similar to my old platforms. Going to try out NinjaTrader tonight.

2) I don't do any special orders (OCO), just basic market, limit, stop market/limit orders. Don't need Market Depth, Level 1 is sufficient. My system is based off entering at the end of 2-min, 3-min, 5-min bars, so in terms of data feed, just need something that's fast and accurate, but I'm not following tick-by-tick.

3) With MBT, I would get the platform and data for free. Commissions would be $2.01/side for YM. I'm not a stickler for commissions, since I would only be trading once or twice a week (3-10 contracts) each trade.

Bottom line is that I just need a simple, low-cost solution where I can place 6 candlestick charts (2, 3, 5 min intervals) - with diagonal and horizontal lines - on my screens, with a couple of order entry windows for YM and TF, similar commissions (don't mind if slightly higher), and a fast/accurate/reliable data feed.

Any suggestions? I've looked into Minus/Ninja for their free Direct platform.

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  #2 (permalink)
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  #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: 46,240 since Jun 2009
Thanks: 29,355 given, 83,237 received


I noticed you combined Broker/Platform.

Personally, I would first settle on the best platform for your needs. Then pick the best supported broker on that platform.

As such, you should really review threads in the Platform section of the site and find the platforms that you like the best as a first step.

Mike

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

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The following user says Thank You to Big Mike for this post:
 
  #4 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary

If you are looking for execution only, and low cost platform, try R-Trader Pro.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #5 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: MBT Desktop Pro
Favorite Futures: YM, TF, small caps
 
Posts: 16 since Jun 2013
Thanks: 0 given, 2 received

Going to try out NinjaTrader tonight. Can't wait! if it works out, I can open an account with Mirus and use the free Direct version, and trade TF for $4.20 plus the $0.30 for Rithmic.

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  #6 (permalink)
Trading Apprentice
New York, NY
 
Futures Experience: Intermediate
Platform: MBT Desktop Pro
Favorite Futures: YM, TF, small caps
 
Posts: 16 since Jun 2013
Thanks: 0 given, 2 received


mattz View Post
If you are looking for execution only, and low cost platform, try R-Trader Pro.

Matt

Will take a look into it. It would be $25/month platform fee plus $0.20/side at Optimus right?

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  #7 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,786 received
Forum Reputation: Legendary


wonkietonk View Post
Will take a look into it. It would be $25/month platform fee plus $0.20/side at Optimus right?

Correct, on the pricing. But we could absorb some of the platform cost in the near future.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote

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