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Ongoing monthly costs to trade futures... (for newbie)
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Ongoing monthly costs to trade futures... (for newbie)

  #11 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: NA
Favorite Futures: NA
 
Posts: 60 since Jan 2010
Thanks: 168 given, 7 received

TradeStation


Big Mike View Post
Well, for me I have moved on to MultiCharts for charting. I use NinjaTrader for execution only, not a single chart, indicator, etc. I will ditch NT here in a few weeks when MultiCharts has their dom and chart trader finally.

Some people just have a preference for a certain charting application, but that application is not good for execution, or doesn't support their broker, so they use a separate platform for execution. Just depends on your specific needs. The majority of people use a single platform for both.

Mike

Hey Mike,

I don't know too much about MultiCharts. I will look into it since I too am moving on from NinjaTrader as my main trading platform. I would like to ask you, what do you think of TradeStation. I have used it in the past and thought it was excellent. Have you used TradeStation before? Have you finished your X-Trader trial?

Bryan

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  #12 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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SuperBliss View Post
Hey Mike,

I don't know too much about MultiCharts. I will look into it since I too am moving on from NinjaTrader as my main trading platform. I would like to ask you, what do you think of TradeStation. I have used it in the past and thought it was excellent. Have you used TradeStation before? Have you finished your X-Trader trial?

Bryan

We are getting off topic so if you have another follow-up question, please reply in a more appropriate thread. To answer your question, I believe TradeStation is way behind MultiCharts and have no interest in it. I have finished X-Trader trial, it is a good solid app, but now that we are so very close to MultiCharts having a DOM, I'm holding off and plan to just use MC solely.

Mike

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  #13 (permalink)
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Syracuse, New York
 
Futures Experience: None
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Favorite Futures: E mini ES, Nikkei 225
 
Posts: 3 since Apr 2017
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My question is similar in that I have started my personal education through Jigsaw (Depth & Sales, Tape Reading on RapidTraderPro). I had a demo connection with CQG but that has since expired and I have been in touch with someone at NinjaTrader telling me I can open up an account with $1,000 but I don't have to trade it. This will allow me to SIM trade, study indicators, and read the DOM which is exactly what I want to do. Unfortunately there is so much overload on what subscriptions/fees I need to pay for at the moment. Being new to this it is difficult to determine which I need, who is the broker, the platform, the data feed, clearing firm, etc. Some of it seems to overlap. For example:

Jigsaw ($50/month Live Trader Package)
NinjaTrader (Free to SIM trade but I'm aware I will have to pay once going live)
CQG and/or/neither Kinetick (The key there is "and/or/neither" to SIM trade)
Phillip Capital (Suggested clearing firm for NinjaTrader - again I don't believe I have to pay until trading live but I do need to to set up the previously mentioned $1,000 deposit).
Exchange Fees
Anything else I have missed?? (Disregard commissions for now, I know I will pay them when trading live)

Let's assume I only want to SIM trade for now. Can anyone advise on which of these I will need and how much it will cost before going live? I have no problem paying what I need to practice the right way but I also don't want any surprise costs if I'm not even trading live and (hopefully) making money to support those costs.

Much appreciated,

Jeff

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  #14 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: daytradr
Broker/Data: Working on a TST combine
Favorite Futures: ES
 
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Posts: 382 since Sep 2013
Thanks: 363 given, 444 received

The Jigsaw $50/per month fee is only if live so you wouldn't need to pay that on sim.
Most people don't need a seperate data feed unless: they have a standalone charting package, or they are with Interactive Brokers for example who consolidate their data, instead of it being unfiltered, and that isn't good if trying to use real time bid/ask data. So just use the broker feed to run their basic charts if you want and use the log-in for RapidTraderPro (as long as it is one of the allowed data feeds). And as you say, a broker with CQG data would work for RTP. Also a broker with Rithmic data.

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  #15 (permalink)
Elite Member
Fort Worth TX USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Posts: 38 since Sep 2015
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jdzwon15 View Post
My question is similar in that I have started my personal education through Jigsaw (Depth & Sales, Tape Reading on RapidTraderPro). I had a demo connection with CQG but that has since expired and I have been in touch with someone at NinjaTrader telling me I can open up an account with $1,000 but I don't have to trade it. This will allow me to SIM trade, study indicators, and read the DOM which is exactly what I want to do. Unfortunately there is so much overload on what subscriptions/fees I need to pay for at the moment. Being new to this it is difficult to determine which I need, who is the broker, the platform, the data feed, clearing firm, etc. Some of it seems to overlap. For example:

Jigsaw ($50/month Live Trader Package)
NinjaTrader (Free to SIM trade but I'm aware I will have to pay once going live)
CQG and/or/neither Kinetick (The key there is "and/or/neither" to SIM trade)
Phillip Capital (Suggested clearing firm for NinjaTrader - again I don't believe I have to pay until trading live but I do need to to set up the previously mentioned $1,000 deposit).
Exchange Fees
Anything else I have missed?? (Disregard commissions for now, I know I will pay them when trading live)

Let's assume I only want to SIM trade for now. Can anyone advise on which of these I will need and how much it will cost before going live? I have no problem paying what I need to practice the right way but I also don't want any surprise costs if I'm not even trading live and (hopefully) making money to support those costs.

Much appreciated,

Jeff

I have been backtesting for a good many months now. I purchased a few packages. MZpack pro and AuctionDashboard. These are very good and reasonably priced but there is no ongoing subscription cost. Then I use the demo version of NT. I download market-replay data free through NT platform. It's available like 24 hours after the live session. After you have the downloaded data you can work with your backtesting as if it's live. What does it matter if its yesterdays data since your testing your theories. You can also FF from 2x to 500x. This helps to expedite testing. You can also make sim trades as if it's live data.

After my I purchased my indicator packages my cost is $0/ month.

Now I'm getting my ducks in a row to go live. That's where i'll have to consider monthly costs and commissions.

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