recommended future trading software for minis

Discussion in 'Trading Software' started by al2, Sep 28, 2006.

  1. al2


    i want to start trading futures ,
    can you recommend me a reliable and low cost trading software for novice ?
  2. Get an IB account QuoteTracker and BracketTrader. Dosent come any cheaper than that and they are all pretty solid.

  3. al2


    the problem is ib wants 5000$ minimum deposit and i'm only have 2000$ to start with .
    is there any other reasonable option ?
    or i should wait and open 5000 account with ib ?
  4. You can open a forex mini account with less than $2,000, but that doesn't really help you with trading e-minis. If you don't have any experience trading intraday in high-volatility markets, I would respectfully suggest that you do some paper trading and get a feel for the markets until you save some more money.

    With $2,000 you're going to be uncomfortably close to the intraday initial margin on a single contract, and you won't be able to swing the overnight maintenance margin. There are some firms that offer $500 intraday margin on the e-minis, but they're really not doing you a favor if you're inexperienced. The four major e-minis each have a different intraday personality, and you will definitely lose some money figuring out which one is better suited to your trading.

    IB is a great brokerage, and they don't kill you with software fees, etc. IB data with QuoteTracker is a great low-cost combo for starting out. Also, IQFeed has a reduced rate for QuoteTracker customers.

    Good luck.

    Afterthought: The margins on treasury futures and grains are much lower than for equity index futures; however, you can get your ass handed to you just as quickly in those markets.
  5. imo, if you can't afford $5,000 you probably shouln't trade. also I would consider TS8.1. 10 r/t contracts a month, its free. no charges except fees to which exchanges you use.
  6. ER9


    i agree.... $2000 is cutting it too close. i would recomend saving the $5000 and just paper trade and refine or perfect your strategy, find your favorite market etc....

    you can burn through $2k really quickly. Interactive Brokers will not let you trade if your account drops below $2000. Having the extra $3000 cushion (if you choose IB) will give you a little cushion if you get off to a rough start or just hit a loosing streak from the get go.
  7. al2


    thanks for the answers .
    i've already have a strategy and tried it with demo account .
    my plan is to open an account now with 2000$ and work with one contract and then deposit another 2000$ in the end of october .
    however i will open the account only if i found a good deal and a good software .
    i see ib is the main software used around here , ib software has no competition ?
  9. al2


    so global are the only option ?
    any platform recommendation from global platforms ?
  10. Give a look to Open E Cry.
    #10     Sep 30, 2006