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I am asking about fixed costs excluding commissions and internet -- so for example: data feeds, platforms and analysis tools, news feeds, journaling applications, and other recurring costs that you spend to trade.
If the cost is not monthly, just average it out to what it would be on a per month basis.
I see a lot of traders that seem to place extreme emphasis on keeping fixed costs basically zero, like the refusal to pay for data, refusal to pay for a platform, etc etc -- and then I see on the other end traders who have multiple high-end data feeds, platforms, and etc. So my goal with the poll is just to understand the audience better.
What are your fixed monthly trading costs, excluding commissions and internet?
Zero monthly costs for me now. I used to have monthly NT, kwik-pop, a trading room etc. But now I have either bought lifetime licenses, or have free use of feed from a broker or features on an all-in-one platform like ThinkorSwim. I think it's a way to lower the present and future cost of doing business trading if one doesn't find it necessary to overpay for monthly services if it's not needed for one's particular style(s) of trading anymore.
Some other examples of workarounds: For longer term profiles and basic profiling features I can use volume or market profile that comes with ThinkorSwim as their data and charts are all integrated. Market Delta Trader (non-charting) footprint comes free with an AMP/CGQ account. Tastytrade subscription is waived with a TDAmeritrade account. Plus many of the nice free or elite indicators on futures.io (formerly BMT) downloads, Gomi, or Ninjatrader support forum. And I have no monthly fees with any of my brokers. Plus there are some free and group trading rooms out there.
on the upper range of the poll and usually exceeding. most is for custom analysis and data / high quality connections with backup. hate to miss to that one day of the month + it puts serenity to the mind.
I do take advantage of the CME fee waivers; but I am day-trading the ICEUS products as of late, and in fact the main reason why I switched to IQFeed two months ago. Otherwise, I would have stayed with Kinetick at 70$ per month
But to be honest, I think I will be back to Kinetick sooner than planned... It is just not worth paying 128$ additional per month to get the live quotes on ICEUS plus some useless DTN IQFeed gimmicks... Moreover, their new release 5.0 is not working well, and keeps disconnecting on me it is getting on my nerves. I had to switch back to 4.8 and thus I miss the news window too (but which I don't use anyway, so very minor inconvenience)
This is the split of my current IQFeed subscription:
DTN IQFeed Core Service $68.00
RT US Futures Entitlement $20.00
Market Depth $20.00
ICE Futures US Exchange Fee $90.00
CBT Globex Only $0.00
CME Globex Only $0.00
COMEX Globex Only $0.00
NYMEX Globex Only $0.00
While with Kinetick, except for the ICEUS exchange, my subscription was:
Core Service $50.00
RT US Futures Entitlement $0.00
Market Depth $20.00
CBT Globex Only $0.00
CME Globex Only $0.00
COMEX Globex Only $0.00
NYMEX Globex Only $0.00
How much are you paying for your IQFeed?
Successful people will do what unsuccessful people won't or can't do!
I don't have any issues with sierra chart. Do you have a support ticket open with IQFeed? I imagine NT's stance will be they only support an older revision, but you should check anyway.
