Which broker is best for scalping?

Discussion in 'Order Execution' started by SoCalTrader619, Nov 4, 2006.

  1. Hey everyone. I need a broker with lightning fast execution as I will be scalping NASDAQ and NYSE stocks on a 1-min chart. I'm wondering what brokers/ trading platforms other scalpers use. Also, I am looking into using hotkeys to enhance my trading abilities. I've looked into NinjaTrader, Button Trader, etc. Any recommendations of a solid scalping setup would be much appreciated. THANKS!!
  2. swifttrade
  3. Swift Trade, ahahha, good one, if you like gray box's which mean you just lost connection, excellent choice.

    Software which is better than swift's , use Laser , , I have used both , so I know what I am talking about.
  4. I have been contemplating between Laser and a couple of other brokers. They have extremely cheap commisions. Can I use NinjaTrader or that type of software with Genesis? How are your fills? On a liquid stock like EBAY, can I expect a fill within a second or two? How is their charting?

    Basically, I will be trading off a 1-min chart and execution is my number one priority. Also, when people talk about X-Trader and NinjaTrader speeding up fills, what do they mean? I thought Laser was the actual platform traded through. Thanks for the help.
  5. Wow, I didn't know that. I'll have to do some more research. I thought I could use NinjaTrader to predefine my exit strategy. For example, I could set it up so that when I enter a position, NinjaTrader automatically enters a stop, as well as profit-taking criteria. I also read that I can trade using keyboard numbers for quicker entry/exit. Hmm, maybe I read it wrong. I just need a platform that will allow my to quickly scalp liquid stocks. Any advice?
  6. Ok, thanks for the confirmation. Can you recommend any good brokers for scalping equities? Is IB fast enough, or does it cater more to swing traders/investors? I'm trying to narrow it down. I'm not interested in trading through a prop firm. I just need fast software.
  7. RedDuke


    Ask Don Bright from bright trading, he'll know for sure.

    I have not heard anyone using ninja or x-trader for equities. I use them for futures, also I think x-trader can be used for options.

    Any reason why scalping stocks? You might see better opportunities in futures.
  8. Well, I have developed a solid strategy for scalping specific stocks. Using a 1-min chart, my risk is always $25. I always know my stop before every entry. Many setups throughout the day and many times the return is 10x or more. Low risk/ high probability. I don't know if the candlesticks will react the same in futures. It seems like futures have lots of noise that will stop me out more often than the stocks I'm looking at. Also, the risk is much higher, right? Can I trade a contract that would only allow for $25 of risk?
  9. RedDuke


    It is 5 ticks on Dow, 2.5 on Russel, 2 on ES. Not enough on most of futures for 1 min chart.
  10. Hey,

    I'm not a scalper as such, but a user of Laser in combination with an X-keys keyboard with all of the buttons custom programmed for particular types of trades. You may want to look into that too.

    I am very happy with this setup, certainly beats fumbling on a keyboard to hit particular key combinations!

    #10     Nov 6, 2006