Needed some advice on the best streaming chart in the industry to scalp 1-2 points per day on the minis for an average of 25-50 round turns per day? I was thinking of using IB for their low $4.66 commissions & using QuoteTracker to place orders with their trade ticket while using OptionsXpress Flexchart for a streaming chart only? Need some advice on What the best Streaming Chart available in the industry is to scalp 1-2 poins of ES? Thank You guys...
QuoteTracker for your charting DTN IQ Feed for your data X-Trader for your trade execution platoform Mirus, IB, Global for your futures brokerage
<i>"Needed some advice on the best streaming chart in the industry to scalp 1-2 points per day on the minis for an average of 25-50 round turns per day?"</i> Which in turn will result in you blowing out a fifth $10,000 account in one year faster than the previous four $10Ks went dry. Try two - five turns per day holding for +4 ~ +12 points per contract. That will get your next account growing in the right direction... black instead of red.
What is the advantages of having DTN IQ Feed for your data? What is a feed the bid/ask & volume size of the bid/ask? for trades? WhY is this necessary to have instead of solely looking at a streaming graph? It seems that most professinonal traders have a data feed of bid/ask prices and volume? isnt a streaming chart just as good? NEw to trading...dont understand the feed data thing very well....... And what is wrong with using Quotetracker order ticket for placing orders?
I've been at this for three years and I would suggest starting out like I did. First off, be very careful of the questions you ask on here because you are going to catch a raft of shit. More so than anything constructive. Second, read everything you can get your hands on including lots and lots of threads on here. There is a lot of bullshit but also alot of information. Third, open an account with a broker and play with the simulator. The bottom line is it doesn't happen overnight so you better have the time and capital. Good luck.
Is trading the mini sps your only source of income for the past 3 years? Also wanted to know how much you originally started with 3 years ago? What is a good broker and trading platform to use? Does a trader watch the streaming s&p mini chart all day non-stop from 9:30-4:00PM all day long? Do u scalp 1 to 2 points all day? New at this and trying to get the right answers...Thanx
I understand why you're asking these questions. Still--the only "right" answer you're going to get is the one you find out for yourself, otherwise you'll waste a lot of time getting whipsawed between different idealogies, methods and viewpoints. Being told that scalping is stupid or that it's the only way to go is already confusing enough for a newbie, but the worst thing you can do, THE WORST, is hitch on to some advertised method here and follow along...looking for someone else to provide strict rules for entries, exits and management. People waste years doing this. As the other poster said: 1) Even though most of the stuff you read will be useless, read as much as you can because there are gems hidden in every few hundred pages and threads. 2) Open an account and play with the simulator. EXPERIMENT AND SEE WHAT'S RIGHT FOR YOU. You need to actually experience gunning for 1-2 points multiple times a day, and then trying to hold for intraday swings. Feel the difference in psychology and risk management. 3) Put in the screen time. If you're young and free of responsibilities, I strongly recommend you do this full-time. Get an evening job at a call center or a restaurant or whatever. While you're practicing, save up $15k and then start trading with 1-2 contracts real money. Again--I understand that you're trying to start on the best foot possible. The best thing you can do is read as much as you can while practicing. That's all. You can get a free top-notch simulator from Mirus Futures.
Everything that Kovacs said is spot on. Don't get burned by some salesman saying they can guarantee you anything. I learned first hand those goes don't trade, they sell. Nothing will save you but the time that you put in practicing. Once you really trade, trade 1, 2 contracts max initially. Since you are new and impressionable take a look at the ym futures I feel like they are good for new traders just my opinion.