starting in future. what fees should i pay for?

[strtedat22 10]

hello,

 

im diving in to the world of futures you guys. im tired of stocks. QQQQ have been really nice to be but now its time for me to move on to futures. i dont use any indicators. just S/R and trendlines. tape and volume is all i need. is the BASE PLATFORM FEE and CBOT EXCHANGE and CBOT MARKET DEPTH all i need for my type of trading style? im going through tradestation.

 

thanks.

[MC 10]

hello,

 

im diving in to the world of futures you guys. im tired of stocks. QQQQ have been really nice to be but now its time for me to move on to futures. i dont use any indicators. just S/R and trendlines. tape and volume is all i need. is the BASE PLATFORM FEE and CBOT EXCHANGE and CBOT MARKET DEPTH all i need for my type of trading style? im going through tradestation.

 

thanks.

 

Yes and no.

 

The platform is free if you do 10 round trips per month, otherwise its $100 a month.

 

The ecbot data with market depth is free for the time being, dunno if that will change or not...hope not.

 

You may want opra, nyse and some other data add ons depending on what internals or added things you want to look at.

 

You are going into a heavily leveraged instrument and the ecbot can and has gone down a handful of times this year. You should have a hedging plan in case you are in a trade and the ecbot craps out. If you decide to set that up you will need to pay for data for the ES for example.

[strtedat22 10]

Yes and no.

 

The platform is free if you do 10 round trips per month, otherwise its $100 a month.

 

The ecbot data with market depth is free for the time being, dunno if that will change or not...hope not.

 

You may want opra, nyse and some other data add ons depending on what internals or added things you want to look at.

 

You are going into a heavily leveraged instrument and the ecbot can and has gone down a handful of times this year. You should have a hedging plan in case you are in a trade and the ecbot craps out. If you decide to set that up you will need to pay for data for the ES for example.

 

thanks mcichiko,

 

im only dealing with the YM for the time being...i wanna study that one first before i jump into the ES...I heard the CBOT does go down from time to time...is it tradestations fault or CBOT's fault? how can i close out a position if im in it if the CBOT goes down? :doh:

 

thanks

[MC 10]

thanks mcichiko,

 

im only dealing with the YM for the time being...i wanna study that one first before i jump into the ES...I heard the CBOT does go down from time to time...is it tradestations fault or CBOT's fault? how can i close out a position if im in it if the CBOT goes down? :doh:

 

thanks

 

Same here on trading the YM. But you need to be able to trade the ES or some other index to hedge worst case scenario. ES most closely mimics the YM movement with every 10 YM points equaling about 1 ES point.

 

If Tradestations platform or your connection to the net goes down you can still call in a exit order though you get hit with I believe a $20 fee.

 

If the ecbot goes down thats effects all brokers and you will be trapped in your position till the ecbot comes back up. You cannot call an exit in and are left to hedge or pay the piper should it move against you. :crap:

[strtedat22 10]

Same here on trading the YM. But you need to be able to trade the ES or some other index to hedge worst case scenario. ES most closely mimics the YM movement with every 10 YM points equaling about 1 ES point.

 

If Tradestations platform or your connection to the net goes down you can still call in a exit order though you get hit with I believe a $20 fee.

 

If the ecbot goes down thats effects all brokers and you will be trapped in your position till the ecbot comes back up. You cannot call an exit in and are left to hedge or pay the piper should it move against you. :crap:

 

Ill keep that in mind...so ill study both then. with the base platform being waved each 10 roundtrips, is the DOM the same as the tape for equities?

[strtedat22 10]

oh yea, the reason why i asked for DOM, i dont use indicators. all tape, S/R and trendlines

 

thanks

[MC 10]

Ill keep that in mind...so ill study both then. with the base platform being waved each 10 roundtrips, is the DOM the same as the tape for equities?

 

For equities you need a separate $5k+ account. The accounts aren't universal, for some dumb reason they subcontract their futures accounts.

 

DOM is just slang for a depth of market style of order entry as I understand it. Tradestation calls theirs "matrix". Time n' sales will be supported if you pay for level 2 for whichever equity data feed you need.

 

http://www.tradestation.com/fees/platform_fees.shtm

Platform and data fees link

 

http://www.tradestation.com/fees/All_Asset_Types.shtm

Commish and other stuff

[strtedat22 10]

thanks again mcichiko,

 

ill be looking into the platform in the near future.

[brownsfan019 17]

Check out OpenECry as well in the mix. Not sure if it has everything you need, but check them out as commissions are competitive along with a strong platform that is free to customers.

[AbeSmith 10]

What if you're trading only 1 YM contract and the CBOT goes down? How are you supposed to heldge that? Thanks.

[MC 10]

Check out OpenECry as well in the mix. Not sure if it has everything you need, but check them out as commissions are competitive along with a strong platform that is free to customers.

 

I loved the simulated trading on OECry. I may end up with them though I'm quite fond of the programming options on Tradestation. I love the chart trading on OECry and the daytrade rates and DOM order entry tool are kick a$$ too.

 

Decisions, Decisions.

[strtedat22 10]

thanks brownsfan.

[strtedat22 10]

Check out OpenECry as well in the mix. Not sure if it has everything you need, but check them out as commissions are competitive along with a strong platform that is free to customers.

 

i checked OECry out...they look good brownsfan...can you make you own indicators on OECry like pivot points

[strtedat22 10]

if not make your own pivot point like on tradestation but import them to OECry? :o

[brownsfan019 17]

i checked OECry out...they look good brownsfan...can you make you own indicators on OECry like pivot points

 

str - to my knowledge, it's not as easy to just make your own indicators in OEC. I could be wrong and it's a better question for their tech staff. I use pretty standard stuff, so it works for me. They have a ton of indicators built in though. You can see a lot of the software highlights here - http://www.openecry.com/software/softwarehighlights.cfm

[strtedat22 10]

im loving oecry...the simulated platform is fun to play with. brownsfan, i cant locate the tape...they have the DOM but no tape. whats going on here :o

[link2randle 10]

You can always hedge

[hanz 10]

Check out OpenECry as well in the mix. Not sure if it has everything you need, but check them out as commissions are competitive along with a strong platform that is free to customers.

 

are u from OEC? seems that your recommendation for OEC is everywhere...free platform? I think it's already included in the commmissions :crap:

[hanz 10]

im loving oecry...the simulated platform is fun to play with. brownsfan, i cant locate the tape...they have the DOM but no tape. whats going on here :o

 

yea OEC has no tape...another free platform is ninjatrader...

 

it even has market reply so you can analyze your trades in real time

[Guest biswayroop]

Thanks guys, yeah once i get the basics down going to start the grind of screen time. That's why i love ninjatrader so much, i just leave my pc on the entire day while at work, then come home and replay the day's action tick by tick and paper trade it.