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Reliable broker for a rookie
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Created: by Calming Attachments:0

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Reliable broker for a rookie

  #21 (permalink)
Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 176 received

My experience is that Think or Swim/TD Ameritrade is less initial fees, easier to set-up and easier to withdrawal money. ACH right into bank account. Faster customer service.

Ninja Trader/ Dorman has better fills on /ES and cheaper commission. Not at first considering a lifetime license, fees to set-up.

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #22 (permalink)
Elite_Member
Wiltshire, United Kingdom
 
Trading Experience: Beginner
Platform: Jigsaw daytradr
Favorite Futures: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 696 since Sep 2013
Thanks: 1,363 given, 1,163 received


Calming View Post
What do you appreciate about Tradovate?

Decent customer service, setting up the account was no problem, good enough basic commission rate that can go a lot cheaper if I get in to a position to trade up to cover the relevant membership/RoundTurn commission reduction fee, their included free trading platform works well and does what I want it to without any issues and they have Jigsaw tool integration. They basically just quietly get on with doing what I want them to do.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #23 (permalink)
Houston, TX
 
 
Posts: 131 since Jun 2018
Thanks: 111 given, 71 received



lancelottrader View Post
You should look into Optimus Futures. I've been with then for many years. Matt Z can give you many options in terms of platforms, data feeds, and clearing. You will receive very good service from them.

Thanks for the suggestion. I see that they charge per one leg,

Average Daily Contracts Commissions Per Side
0 - 20 Contracts $0.50
21 - 100 Contracts $0.40

This is just their cut? Fees are not included?

What do you personally like about them?

I'm gonna look closer into them.

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  #24 (permalink)
Houston, TX
 
 
Posts: 131 since Jun 2018
Thanks: 111 given, 71 received


blb014 View Post
I would suggest at least 10x that amount to trade that type volume, 10k is on the small size even for 1 contract

Is that the amount that you started with at first?

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  #25 (permalink)
Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 176 received


Calming View Post
Is that the amount that you started with at first?

Started with 0, actually negative, lived in trailer after college and saved and bought F in 2004.

Then started buying AAPL in 2005 because I really liked the IPOD, moved into options in 2006 just in time for the recession in 2008 that cut my investments in half and had to roll all my option down or was assigned.

Started selling index, equities options mostly puts after tried numerous option strategies around 2010. Investing in companies such as AAPL and FB along the way, been doing that ever since

But yes 10k per contract for me right now on day trades on /ES. I would think 6-7k would give you a fighting chance with a discipline strategy anything less I would save that amout first. Don't waste your time on combines to get funded better off working and saving, they are just selling a pipe dream.

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #26 (permalink)
Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 176 received

I think most new traders would be better off investing in equities and options first after couple years then move to futures trading small along the way. It doesn't sound cool or 1000%ROI but the tortoise wins the race

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #27 (permalink)
Houston, TX
 
 
Posts: 131 since Jun 2018
Thanks: 111 given, 71 received


blb014 View Post
I think most new traders would be better off investing in equities and options first after couple years then move to futures trading small along the way. It doesn't sound cool or 1000%ROI but the tortoise wins the race

Agree. They should also try reading something like Brooks' Reading Day Charts to get an idea.

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  #28 (permalink)
Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 176 received


Calming View Post
Agree. They should also try reading something like Brooks' Reading Day Charts to get an idea.

Read some of his material but I do not use chart patterns, for me that has alway been noise. Yes the market moves in fractal nature but prediciting where it move next base on a pattern has never worked for me. Most of my trades are options based on Theta - time decay and Vega - volatility

For /ES - Volume, Volume Profile, Opening Range, VWAP, $TICK, Previous High and Low and few support/resistance levels.

I trade /ES when I can and have been marginally profitable. There are many more on here that are more profitable and better traders

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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  #29 (permalink)
Houston, TX
 
 
Posts: 131 since Jun 2018
Thanks: 111 given, 71 received


blb014 View Post
Read some of his material but I do not use chart patterns, for me that has alway been noise. Yes the market moves in fractal nature but prediciting where it move next base on a pattern has never worked for me. Most of my trades are options based on Theta - time decay and Vega - volatility

For /ES - Volume, Volume Profile, Opening Range, VWAP, $TICK, Previous High and Low and few support/resistance levels.

I trade /ES when I can and have been marginally profitable. There are many more on here that are more profitable and better traders

Funny enough, Brooks claims that anything outside of chart bars is unnecessary noise ;-)

What has been the most foundational resource/book in your studies of futures?

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  #30 (permalink)
Dallas, Texas
 
Trading Experience: Intermediate
Platform: TOS
Favorite Futures: AAPL, /ES, IWM, SPY Options
 
Posts: 330 since Oct 2012
Thanks: 552 given, 176 received



Calming View Post
Funny enough, Brooks claims that anything outside of chart bars is unnecessary noise ;-)

What has been the most foundational resource/book in your studies of futures?

Watching the markets for the last 15 years.
There are some great pshchology books about trading Mark Douglas- Trading in the zone, Van Tharps- first book. I also liked Daltons - Markets in Profile.

I have read a few on specific strategies/setups but none have been much help, for me at least

One mentioned on here that I am goin to read is Denise Schill: Market Mind Games

Volatility is good for the market and trading.

Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
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