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I thought Ninja had two license types only. A single broker license and a multi-broker licence. You would need the multibroker if you wanted to simultaneously trade with TST and have another/your own account in use at the same time.
1. CME data feed $85/month
2. NYMEX data $85/month
3. No monthly fee in funded account
4. I can use my existing Ninja Trader license
5. I must be extremely careful during the first trading sessions to get some cushion, because the weekly / daily $1000 loss will kill the account.
6. Once I build up a bit of equity, the trailing loss limit stops at 50k.
One slight clarification to the trailing loss limit: in the funded account, you start out with a zero balance, because they just record your profit and loss, and any withdrawals. In other words, it's not like a retail account where you deposit a certain amount of margin.
So the trailing loss limit starts with your limit being down $2,000, which is as far down as they will let you go. As you make (hopefully) profits, it rises so as to trail your highest balance number by 2,000. When it gets to your starting balance, ($0.00), it stops trailing. It all works the same way with the combine, but the Combine account has a nominal starting "balance" of 50K, so that's the number it trails up to.
I hope this is clear and that I didn't just cloud things up.
It isn't TST, or NT either. The data fee is charged by the CME. The CME exchange regards funded TST traders as professionals, because, by definition, they are trading other people's money (TST's).
The CME charges professionals more for access to its data. They figure that professionals can afford it, and have to have it in order to do their jobs. It's as simple as that.
Bob.
Edit: I added that the higher CME fee is only for funded TST traders. Traders in the Combine actually get the data feed for free.
The data feed, when it is charged, is levied by the CME; the Combine fee is charged by TST. Two different things. I was talking about the CME data feed fee.
To get the data feed from CME, normally you have to have one of these:
(1) a demo account with a broker (and I believe you currently only can get it for 2 weeks; maybe I'm wrong on this); or
(2) a trading account with a broker, and for this you will either pay the CME $5/month (if non-professional), or $85/month (if you are professional) per exchange. (E.g., if you trade CL, which is NYMEX, that's one exchange, and it you trade ES, which is CME Equity, that's another. All within the "CME Group.") I know that some brokers may (or used to) pay the non-professional CME data feed fee for you, but the exchange does levy the charge; or
(3) CME has a one-month free trial. After that, then you will normally fall under one of the above.
I'm not sure what the deal is that allows the TST Combine to be available without your being explicitly charged for the data feed from CME, but it is not a separate charge to you. You obviously still pay TST for the Combine. (Is there a $5 CME fee that they just pay for you? Do they have a deal with CME? I don't know. )
If a person gets a funded account from TST, then, as a professional, they have to pay the professional data feed fee to CME, at $85 per exchange. But there is no separate CME professional or non-professional data feed charge during the Combine. This is what I was talking about.
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