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cunparis journal, thoughts, and more

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  #521 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Ya, that get's pricey. For one exchange, which for me is all I need, it's 675. But then you get as low as 50cents/side from some clearing firms if you do the volume. I think you really have to look at how many trades you do and look at the commission scale. I may actually save money with the license if I do the volume I am expecting to do.

I had a lot of bad experiences with brokers in the past, slow fills, slips, not with any Zen Fire brokers, but I still like the idea of going directly through a clearing firm. What I like most with the X-Dorman setup is any stops I put up are held on the TT server at the exchange, not at a brokers server.. when things get hot like that day on the Dow recently I want to be first in line, not in a jammed server across town....

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  #522 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
cunparis's Avatar
 
Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


syxforex View Post
Ya, that get's pricey. For one exchange, which for me is all I need, it's 675. But then you get as low as 50cents/side from some clearing firms if you do the volume. I think you really have to look at how many trades you do and look at the commission scale. I may actually save money with the license if I do the volume I am expecting to do.

I had a lot of bad experiences with brokers in the past, slow fills, slips, not with any Zen Fire brokers, but I still like the idea of going directly through a clearing firm. What I like most with the X-Dorman setup is any stops I put up are held on the TT server at the exchange, not at a brokers server.. when things get hot like that day on the Dow recently I want to be first in line, not in a jammed server across town....

Your 50 cents per side doesn't include the exchange fees. What would be the total including exchange fees?

Why do you expect to do a lot of volume? Are you scalping? Automated? I'm curious because the more I learn about trading the more I realize that I make more the less I trade. the past few weeks I've only taken a few trades per day (around 2 for ES and 2 for FESX per day). My broker isn't happy but I am.

For the stops.. what kind of stops do you use? For entry or exit?

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  #523 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010


There are few things going into my decision. First let me say that I'm not getting the 50/side, that's part of a sliding scale offered by another firm, and it goes right down to 3cents if I remember correctly.

My NT7 is maxed out with charts. For an edge to be profitable mistakes must be eliminated. Say you have a 70% average win/loss but 1 or 2 of every ten trades you run into some outside issue, you end up breaking even after the month, or worse, even though you are a 70% plus trader with a tight system. Success comes down to the 1 in 10.

My NT7 does freeze up if I push it too hard, so there is a source of error that can't be tolerated. X has a very light footprint and is known to be rock solid and stable. It runs well side by side NT7 as Zondor indicated to me. My plan is to get the IQ feed and make the most of the market delta indicators and NT7's awesome charting package.

Dorman actually quoted me 3.50 rt. I think that might be a buck better than Amp and some of the others, I'm just guessing because I don't have the figures on the top of my head. I'll do 5 to 10 round trips per day if the market allows for it. So, it's a bit more maybe. But I really do believe this product can pay for itself in terms of flawless execution. Of course it won't make me a better trader, but I want to be sure that all mistakes are factors within my control, and I also want to compete for speed with the pros. I understand the model when Dorman explains that my orders are held on a TT's server housed at the exchange. I don't understand all the stuff the sale people at the brokerage firms say about how their servers are setup to run.

I'm opening the minimum size account. If I cancel the license within the first month it's the license fee is waived, so free. May as well give myself the best tools because it could be my last stand....

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  #524 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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Posts: 2,565 since Jun 2009
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syxforex View Post
My NT7 is maxed out with charts.

My NT7 does freeze up if I push it too hard, so there is a source of error that can't be tolerated.

Dorman actually quoted me 3.50 rt.

I'm opening the minimum size account. If I cancel the license within the first month it's the license fee is waived, so free. May as well give myself the best tools because it could be my last stand....

This is precisely the reason I don't use NT for charting. Well except for my POT cause porting it to TS would be too difficult. I use NT for DOM only. That way I don't risk slow downs, crashes, or freezes.

3.50 round trip is very good. So low that I'm suspicious. I forget the exchange fees but there is very little overhead for Dorman with that figure.

I'm really confused about the last part. Have you been trading this method with another broker? or on simulator with NT? What kind of performance results do you have? Do you think your first month trading live with X-Trader at Dorman will be profitable?

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  #525 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

It's 3.50, but I'm pretty sure there would be the exchanges fee on top of that, which is a buck something a side for 6E, can't remember exactly right now. I'm happy with NT7 for charting, my two workspaces are running smoothly. I'm not a computer programmer either so I really don't want to learn how to do all of this in Multi Charts or something, that would take a few more weeks........

I did use X-Trader, briefly, about a year ago. I do prefer it. I certainly do expect to turn a profit on month one with this account. Since December I have been trading with fxcm micro on an MT4 platform. Well, that's like going to Vegas and playing the slot machine that has the monkey behind the wheels. You can be a 100% trader and you will still lose trading that way.

Anyways, this is only brain surgery when we want it to be. Success is simple, define it, do it. I've been working at this for some time now, I think it is time for me to succeed. Time will tell.



cunparis View Post
This is precisely the reason I don't use NT for charting. Well except for my POT cause porting it to TS would be too difficult. I use NT for DOM only. That way I don't risk slow downs, crashes, or freezes.

3.50 round trip is very good. So low that I'm suspicious. I forget the exchange fees but there is very little overhead for Dorman with that figure.

I'm really confused about the last part. Have you been trading this method with another broker? or on simulator with NT? What kind of performance results do you have? Do you think your first month trading live with X-Trader at Dorman will be profitable?


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  #526 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


syxforex View Post
Anyways, this is only brain surgery when we want it to be. Success is simple, define it, do it. I've been working at this for some time now, I think it is time for me to succeed. Time will tell.

Good luck with it. I hope you will start a journal to share your progress. I will be very interested to see how it works for you.

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  #527 (permalink)
 gabga100 
New York
 
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syxforex View Post
Cunparis, is the pace of tape ok for NT7?


Works fine, just be sure to use a tick chart ....

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  #528 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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gabga100 View Post
Works fine, just be sure to use a tick chart ....

I just found out it works on volume charts too. In that case the threshold is for volume and not trades. I'm still undecided which works better.

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  #529 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Thanks Cunparis,

I believe I will. I was wanting to get moving by June but I might push that back while I do some research into the ladder. I've got a pretty nice view of things right now but I still haven't defined exactly what I will do, so, until then I read and ask.. Thanks for you assistance....


cunparis View Post
Good luck with it. I hope you will start a journal to share your progress. I will be very interested to see how it works for you.


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  #530 (permalink)
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
 
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Posts: 2,565 since Jun 2009
Thanks: 1,162 given, 2,088 received


Had a great day on ES today. All from the short side, keeping with my area of improvement. Was a bit early on one but it worked out.



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