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Is Thinkorswim a good Platform for Futures Trading?
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Is Thinkorswim a good Platform for Futures Trading?

  #91 (permalink)
Elite Member
San Diego CA
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: StocKs
 
Posts: 26 since May 2012
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zer0 View Post
thinkorswim is far too slow for daytrading futures, but might be good enough for interday trading. Anyway, it's far too expensive. Look elsewhere. NinjaTrader is cheap (for the free version), but users tend to have a fair amount of trouble with it and the chart refresh rate is questionable if you are a frantic trader. That said, NT is generally good enough.

TOS through ameritrade is $3.50 a contract is that expensive?

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  #92 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Favorite Futures: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
Posts: 160 since Apr 2010
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pbenson68 View Post
TOS through ameritrade is $3.50 a contract is that expensive?

Several people have negotiated that down to $3. Others probably less. IB is $2.01 by default. As far as it being 'too slow' for day trading, that all depends on what your definition of day trading is. I do some (mostly)non-scalping day trading (though most of my futures trades are longer) and don't have a speed issue at all. My chart/DOM data on TOS is virtually identical to Kinetick or IB and the executions are near-instantaneous.

"The Future Ain't what it used to be"
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  #93 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
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heywally View Post
Several people have negotiated that down to $3. Others probably less. IB is $2.01 by default. As far as it being 'too slow' for day trading, that all depends on what your definition of day trading is. I do some (mostly)non-scalping day trading (though most of my futures trades are longer) and don't have a speed issue at all. My chart/DOM data on TOS is virtually identical to Kinetick or IB and the executions are near-instantaneous.

I haven't compared DOM, as I don't use TOS DOM, but I compared Thinkorswim Time&Sales to Rithmic Time&Sales through Sierra Chart yesterday. It was not identical but in my short visual observation, TOS was between 100-1000ms behind, being variable. Everyone can test it and decide for themselves if any speed difference is too slow for their trading style. Interesting bit, I also tested my reaction time here, and it was between 250-300ms: Human Benchmark - Reaction Time Test

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  #94 (permalink)
Logician
Chicago, IL/USA
 
Futures Experience: Advanced
Platform: CTS T4/Sierra Chart
Favorite Futures: Futures
 
zer0's Avatar
 
Posts: 139 since Jun 2011
Thanks: 49 given, 186 received

Yes.


pbenson68 View Post
TOS through ameritrade is $3.50 a contract is that expensive?


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  #95 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,815 received

I read this some where on this forum:
"Trade less...leverage more. "

$3.50 isn't much when you're moving around $70-150k per contract
and swinging moves instead of chop chop chop death by a thousand paper cuts.

Most of us have better rates than $3.50. (it is high compared to most out there)
What I get through TDA is inline with most futures brokers out there.
Long time clients, clients with a lot of capital, and clients with volume get better rates.
Don't overleverage, don't overtrade and commissions are not a big deal.

Psychology > Strategy ≥ Money
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  #96 (permalink)
Elite Member
Pismo Beach CA
 
Futures Experience: Intermediate
Platform: TOS, IB, Fidelity for 'swing' trades
Favorite Futures: ES, NQ, IBB, IWM, NG
 
heywally's Avatar
 
Posts: 160 since Apr 2010
Thanks: 80 given, 89 received


Massive l View Post
I read this some where on this forum:
"Trade less...leverage more. "

$3.50 isn't much when you're moving around $70-150k per contract
and swinging moves instead of chop chop chop death by a thousand paper cuts.

Most of us have better rates than $3.50. (it is high compared to most out there)
What I get through TDA is inline with most futures brokers out there.
Long time clients, clients with a lot of capital, and clients with volume get better rates.
Don't overleverage, don't overtrade and commissions are not a big deal.

There's also quite a bit of value add in their platform in that you can trade most futures products without any added exchange fees, there's a few very good audio feeds including real-time global news, etc etc etc.

I agree with you about scalping .... of course, it could be that I wasn't talented enough to use it successfully in my 12 years of trying, on and off.

TD Ameritrade's trading volumes are way off during the last year; it might be worth a shot for someone to try and negotiate the futures commissions down to at least $3, no matter the account size.

"The Future Ain't what it used to be"
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  #97 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
Thanks: 1,797 given, 249 received


heywally View Post
There's also quite a bit of value add in their platform in that you can trade most futures products without any added exchange fees, there's a few very good audio feeds including real-time global news, etc etc etc.

I usually listen to Ben in the S&P pit even though I trade crude, since he talks about all the major instruments and news every now and then. What are the other good feeds, and how are they run? I just tried the global news audio but appears to be silent right now.

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  #98 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,815 received

ToS is not the best option for the scalper.
Most 'scalpers' these days are bots and who wants to try and compete with that!? Not me...
For regular day trading (ranges, daily swings) ToS is pretty good option IMO.
I'm not talking 2-8 tick trades. 20-40 ticks is my idea of day trading and ideally only 1-3 trades/day.
I was quite successful day trading futures using ToS for nearly 2 years.
That burnt me out though, so I have switched to swing trading.
I'm using the exact same entries/exits, just on a larger time frame.
The only difference is the duration of the trade and commissions (less).

Psychology > Strategy ≥ Money
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  #99 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,023 since Jul 2011
Thanks: 2,211 given, 1,545 received

Some videos showing ES trading using active trader on TOS:




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  #100 (permalink)
Elite Member
Malaysia
 
Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
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Posts: 273 since Nov 2009
Thanks: 52 given, 59 received


How much day trade margin for 6E?

$3.50 per side or roundturn?

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