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Paper trading question
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Paper trading question

  #1 (permalink)
Chicago, IL/USA
Trading Experience: Beginner
Platform: Ninjatrader
Favorite Futures: Gold, Crude, NG, Currencies
Posts: 2 since Jan 2018
Thanks: 1 given, 0 received

Paper trading question

I am just learning and want to paper trade but, it appears, the exchanges only offers delayed futures quotes on paper accounts.
Is that correct?
If so, how do I practice?


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  #2 (permalink)
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  #3 (permalink)
Legendary Market Wizard
Portland, OR
Trading Experience: None
Massive l's Avatar
Posts: 1,766 since Mar 2011
Thanks: 1,229 given, 2,867 received

Request live data from your data provider. However, even if it's delayed you're still able to practice and learn the platform.

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  #4 (permalink)
Trading Experience: Beginner
Favorite Futures: MES, MNQ
snax's Avatar
Posts: 454 since Feb 2019
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Kentog View Post
I am just learning and want to paper trade but, it appears, the exchanges only offers delayed futures quotes on paper accounts.
Is that correct?
If so, how do I practice?


I got started on the CME simulator. The quotes are delayed but that shouldn't be an issue for learning purposes.

I would say don't wait around looking for the perfect way to start, dive into sim-trading now, look for better tools along the way. Have fun!

Last edited by snax; April 3rd, 2019 at 07:12 PM. Reason: clarification
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  #5 (permalink)
New York City, USA
Trading Experience: None
Platform: NinjaTrader
Favorite Futures: ES
CarpetHooligan's Avatar
Posts: 61 since Aug 2017
Thanks: 9 given, 74 received

Get Ninjatrader. It lets you download a full days data down to tick level and replay it at any speed while placing sim trades. Perfect way to practice.

Sent from my SM-G930F using Tapatalk

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  #6 (permalink)
New York City, NY
Trading Experience: Intermediate
Platform: Ninjatrader 8
Broker/Data: Dorman Trading
Favorite Futures: emini ES/NQ
xevanchan's Avatar
Posts: 162 since Sep 2018
Thanks: 173 given, 288 received

You should paper trade on the platform you plan to use in live trading. If a broker has delayed data, like thinkorswim, you can often call them and request live data and they should give it to you with no problem. Like others have stated though, there's no need for live data in order for sim trading to be beneficial.

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  #7 (permalink)
Sarasota FL
Trading Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, YM
Posts: 4,884 since Jan 2013
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Kentog View Post
I am just learning and want to paper trade but, it appears, the exchanges only offers delayed futures quotes on paper accounts.
Is that correct?
If so, how do I practice?


I would go ahead and trade the delayed quotes.

What's the downside? If your chart shows only delayed quotes, then your simulated trades will always be consistent with the data you have -- you're not looking outside your chart, so a profitable trade would still be profitable in your paper-traded world, and a loss would still be a loss. Realtime data wouldn't ever be a factor.

You'll need current, live data for real-money trading, but not for sim-type practice.

The only time this would not be true would be if you were trying to trade based on just-announced news, where you would obviously need to be using realtime data. But trading after or even as news is announced is a good way to always be late, since others will have anticipated it ahead of time (and ahead of you. )

If you're trading just on the action of price as shown on your chart, delayed data is perfectly OK.


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  #8 (permalink)
Los Angeles, CA /USA
Trading Experience: Master
Platform: Sierra, CQG, Gain, Transa
Favorite Futures: Crude Oil
CannonTrading's Avatar
Posts: 110 since Mar 2013
Thanks: 27 given, 66 received

Kentog View Post
I am just learning and want to paper trade but, it appears, the exchanges only offers delayed futures quotes on paper accounts.
Is that correct?
If so, how do I practice?


We offer a great platform that is free and provides free real time data for 14 days.
feel free to give us a call, we also happily do a remote session with you.
Here the link:

Regards Cannon Trading

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #9 (permalink)
London UK
Trading Experience: Beginner
Platform: Meta Trader 4
Favorite Futures: Forex
Posts: 17 since Jan 2015
Thanks: 0 given, 5 received


The only free / non-cost would be Ninja 8 w/ downloaded data set in replay. NT also offers Kinetik daily for free.

Multicharts is also nice, it allows you to move forward through a chart bar by bar. Apply an indi / strategy, hit the play / forward button and you're up & running. Multicharts does require a data connection which will be an additional cost (unless you want google daily data)

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  #10 (permalink)
Boulder, Colorado. USA
Trading Experience: Beginner
Platform: TOS
Favorite Futures: ES
Posts: 15 since Nov 2012
Thanks: 85 given, 14 received

The easiest way I've found is open a TOS account and fund it with something minimum like $50 (obviously you can't trade with this). Live Chat them and tell them you would like the live data turned on. They'll see you have a "funded" account (they don't have a minimum to have live data) and they'll activate the live data in a few minutes. With it funded, however little it is , they won't put a time limit like months on your paper trading with live data. TOS data may not be as fast as a true dedicated data provider, but it will do fine for paper trading, etc.

TOS isn't a good choice for going live if scalping because of the very high commissions which are over $6/round trip but it is a good platform to learn on and will do time, tick and range bars with lots of indicators and has a good DOM with the live data. Use the active trader tab. If you are swing trader or longer targets, then the commission may not be that big of a factor.

I personally don't use their reports to see how I am doing because of the high commissions which makes you feel like your not getting ahead if you are learning to scalp say 4-10 ticks on ES. Rather I put my trades into a spreadsheet and add a normal lower fee brokers commission to the trade to see where I'd be. Also keep in mind on paper trades/sim you get filled almost immediately and in a live trade you will have more slippage so you will not have the immediate same success on live even if everything else is the same including the mental aspect of live trading.

Hope this helps.


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