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Fixed Trading Expenses, how much do you spend?
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Fixed Trading Expenses, how much do you spend?

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
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Fixed Trading Expenses, how much do you spend?

Hi guys,

New poll. Please vote and discuss.

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?

Total votes: 337
 


Mike

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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.
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  #2 (permalink)
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  #3 (permalink)
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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.


Last edited by Cloudy; May 16th, 2013 at 09:46 PM.
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  #4 (permalink)
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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.

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  #5 (permalink)
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I already own the NT7 lifetime license and that is well amortised by now.
So I only play for a DTN IQFeed subscription: 198$ per month

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  #6 (permalink)
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Fadi View Post
I already own the NT7 lifetime license and that is well amortised by now.
So I only play for a DTN IQFeed subscription: 198$ per month

Do you have extra exchanges or are you not taking advantage of the fee waivers?

Sent from my Nexus 4

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
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  #7 (permalink)
Elite Member
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Big Mike View Post
Do you have extra exchanges or are you not taking advantage of the fee waivers?

Sent from my Nexus 4

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?

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  #8 (permalink)
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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.

Sent from my Nexus 4

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
 
  #9 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
Fadi's Avatar
 
Posts: 482 since Apr 2012
Thanks: 650 given, 625 received


Big Mike View Post
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.

Sent from my Nexus 4

Yeah I know it is mainly due to NT7 but I'd rather switch datafeeds than switch platforms.
Not the other way round hehe, too bad...

Successful people will do what unsuccessful people won't or can't do!
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  #10 (permalink)
Elite Member
San Francisco, ca
 
Futures Experience: Master
Platform: Custom
Broker/Data: NewEdge/Direct access
Favorite Futures: Futures (almost all)
 
Posts: 8 since May 2013
Thanks: 0 given, 16 received


My costs for trading infrastructure, hosting, lines, software, feeds is $120,000/month. Everything seems to be getting more expensive lately.

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