Please recommend platform for starting prop/day trader

Discussion in 'Trading Software' started by tokyotrader, May 17, 2005.

  1. Hi, I've read through the software review section as well as numerous of the posts in the software forums, but can't seem to determine which software is best for a starting prop/day trader.

    I currently work at a hedge fund but I'll be leaving to trade on my own. I will be starting out trading 1 lots(equities, possibly futures) and work my way up from there. I am likely to be joining an arcade, but don't want to use the software they provide if I think something else is better.

    So, that given, here are the criteria I would like:

    -Relatively low cost: I want to keep platform + data feeds to under $100-150/month.

    -Accurate intraday + EOD data(tick data accuracy less important)

    -Ability to graphically analyze bid/ask volume in various formats

    -Good scanning ability, backtesting ability

    -User friendly, does not demand a "programmer's mindset" to use, and allows for someone with limited programming experience to program/customize

    Maybe this sounds like a lot and maybe the price seems too cheap for such capability, if so please let me know.

    Currently, I'm thinking the best choices are Neoticker, Medved Quotetracker, or Ensign, hooked up with an IB or Esignal data feed.

    Any suggestions would be greatly appreciated.

    P.S. FuturesTrader71 - I saw in an earlier post discussing Ensign that you were considering it for your newer traders to reduce their drawdown, did you decide on going with this or find anything better?
  2. Yes, I have tested it with IQFeed. Ensign works very well. It includes a recorder, simulator and many other features. I didn't get into too much depth since i have so much on my plate right now. However, with IQFeed, it cost about $100 per month or so plus exchange fees. I think it is worth the shot. It is good for a beginner, but I prefer my CQG so I didn't really test it well.
  3. mustang


    I think one of the most reliable and intuitive platforms is InstaQuote. Check out a demo at or any other broker offering IQ.
  4. etouch