Kovac, Thank you for the invaluable advice. Thanx it really is great advice. Just got a simulator account with mirus.. The question I have for you is about trading off of a streaming chart and if order flow of bid/ask price bid/ask volume is important vs. just trading off of a streaming chart? Also, I researched IB for their low round turn commissions of $4.80. What is the most efficient broker to use for trading 1-2 lots at a time & what is the most sufficient Streaming charting software to look at? Would you reccomend Mirus futures over Interactive brokers? I was thinking about IB then using a 3rd party software provider such as Quotetracker to enter in orders through their trade ticket while looking at optionsXpress free streaming chart. Thank you so much for providing me info as I am still a newbie trying to start off on the right foot.
I'm not sure why you just wouldn't use TradeStation. You get your charting, data and broker in one shot. $100 per month for the trading platform and $30-50 for data from specific exchanges. If you make 10 roundturns, the $100 is waived for the platform. You'd do that in just a couple of days when trading real money. The simulator using the order matrix works fine too - especially for someone starting out. Just seem like a much easier way to start and get your feet wet. JMO.
Y is tradestation better than ninjatrader? Was thinking about using ninjatrader with mirus futures...
Don't worry about commissions right now, learn to trade first. Mirus with Ninja/Zenfire combo simulator is very good and it is free just for asking. Once you got the simulated account try what trading style you like. Each trading style requires different trading method. Scalping trading method will be different than timing entries and holding for half of the ADR (average daily range ).
Acerbic wit! I like it. I'm quoting AUSTIN b/c I agree wholeheartedly. Risk 1-3 points; aim for 5-15 points. Look for S/R. Have a great weekend, fellas!