I think many traders of ordinary stocks are interested in learning how to trade index futures.Every broker dealer site you look at promises everything,just trust them.I looked at the fasttrader protrader screen shot and couldnt see any chart.Please tell me where do I go to get live charts with maximum bells and whistles.Is Esignal a good one?What about the charts offered by CME and where do they get them?CME claims to offer a whole swag of indicators/studies with their intraday charts,and I saw what some of them were,but it makes you suspicious when they cant give an easy to find list. If you trade index futures please tell us what your favorite intraday chart source is and why.
ES/NQ data is $10 from CME, and the YM data is free. These fees are on top of whatever data feed you're using: RealTick Trade Station, eSignal... Just for interest' sake, I use Trade Station, and also have eSignal on a trial. I've noticed that ticks hit eSignal about half a second faster than they do Trade Station. However, I don't know if this generally is the case, or if it is a quirk in the system. I think if you open a brokerage account, and make a minimum number of trades with IB, they give you their data for free. Prosper! kp
I just remembered something I ran into at the Anaheim Online Trading Expo... There's an outfit that will provide you with: 1. Free computer with two LCD screens. 2. Free eSignal data. 3. Free Squawk Box. 4. Free access to their private network, which they say gives you even FASTER data and order execution. (Access is not via the internet, but dialup phone connection to their server). This all is conditional on your opening an account with their brokerage firm and paying about $15-17rt commission. (Minimum account balance I think is $10,000). For someone whose trading style is low-volume, this might be something to consider. It won't work for me, 'cause I try to scalp 1 pt here and there. Website is: www.floorpass.com Cheer, kp
Its the number of round-trip CONTRACTS/mo. not the number of trades that must be taken into consideration in determining whether IB or FFAsttrade is less expensive, unless of course you are a 1 contract trader.
I'm at Green Tree, i trade retail out of their office with good leverage. They use Spike and Jtrader software.
Any of the data feeds include all the common and not-so-common indicators. On top of what you pay for the data feed, you need to pay exchange fees, roughly $1 for NYSE, NASDAQ and so forth. CME E-minis are $10, and the full CME I think is $60 and so forth. The data feed companies are always adding indicators, always trying to offer more and beat out the competition. Trade Station and eSignal both have recently released new versions of their software. Excel! kp
But of course. And since the person who started this thread has never traded futures before, I made the assumption that he would (at least initially) be a 1-contract trader. Whether or not he is, with FFasttrade he would still have to do 338 round-trip contracts per month just to equal IB's price.
Mercy me oh my! He wants to learn to trade! With a million bux! Geezus. I'm glad he has you providing some guidance, because I know, that you know the game. Sure would be nice if he would take at least 950k of it and put it somewhere else besides his fuctures trading account though. The temptation to not go above 1 contract would be greatly reduced imho. Tell him, "Welcome to the Jungle" I guess, but it sure would be tempting to trade heavier size with the big account size. (at least for me it would) My two words of advice to your friend = (1) start with something more like 50k (2) Stay REAL CLOSE to BONE !!!
check out Tradestation - fees almost as low as IB and much better service and you don't need separate quotes/charts - yes, I use it and have absolutely zero complaints. www.tradestation.com