I am currently testing a Larry Williams strategy on NinjaTrader and using Interactive Brokers. For the past week, this has been completely frustrating and has not worked a full day without problems.
IB's TWS platform resets and kills the connection to NinjaTrader every night
I cannot use a Family Master account on NinjaTrader and then trade the strategy on different linked accounts
Interactive Brokers seems to have data issues (no tick data).
I understand I cannot really test TradeStation and see how it would work, but I am interested in considering a switch.
If I use TS as the broker, Data Provider and Trade platform, how much would I be looking at monthly in terms of
Fixed costs: Platform and Data for CME, NYmex and SP500 securities
Can I trade a purchased strategy on different TS accounts (IRA Account, Son's College savings account, my account) and have different size trades based on account size?
Besides the costs, what are the down sides of TS compared to NinjaTrader and IB as a broker?
Can't you use the IB gateway with Ninjatrader? This way the connection shouldn't be reset every night at least.
Another idea if you want to stay with IB could be to look into Multicharts. If I recall correctly IB offers a MC version for around 39$ per month if I recall correctly (or for free if you don't trade through it, which would be okay to test things). Then get a proper data feed and use that to generate the signals which you execute through IB (which can also be done via a Financial Advisor account for multiple accounts).
I have used TS for several years and find it does all of the things that I need. I agree talking with a rep is the best way to find out costs. I look at a platform that has good charting, ease of use, an array of useful indicators and strategies, and good fills and little slippage.
Do you find it easy to hit the minimum req for a free platform? A friend let me see his a while ago and I really enjoyed it and started saving. I would like to get my own acct to test but $100 is steep to try out. Do you know if they offer a trial basis? I mostly trade FDAX futures on a cfd forex broker but would like to make the switch. My other concern is the cfd can be a fraction of the full contract, likely because they keep it "in-house".
I would say the minimums are fairly easy to reach, especially if you are daytrading. As far as I recall they have promotions every once in a while where you can use the platform for free for some time as a new brokerage client.
You probably can find information about that on their website.