Trading for the least amount of money

[zentrader 10]

Hi everyone,

 

I recently had to step away from trading for the last 4 months. I wasnt able to continue due to the cost of charting and other trading expenses. I know ninja trader has charting for 50 bucks a month but i dont know where u could get a cheap data feed.I would love to be able to get back in the game but cant afford 150 bucks a month for the charts. Does anyone know a cheap start up for charts. I would open a tradestation account but dont have the capital right now. I mainly want to get back to testing my ideas and sim trading.

 

cheers

zentrader

[Soultrader 12]

How about Sierra charts? I find their platform inferior but the price is extremely cheap. You should look into it.

[timokrates 10]

Isn't the data feed included if you use Ninjatrader with the typical brokers.

 

Zen-Data for Zentrader

[mister ed 10]

Are you trading futures? Open ECry includes data/charting in their platform - costs nothing for access to their platform.

[darthtrader 10]

Ninja only costs money if you want to trade real money with the chart trader/super DOM. Its free for charting/backtesting/sim.

You could try that with opentick. That would essentially be free but you get what you pay for data quality wise with them. DTN iq you can get for 55 a month if you just stick with spy/qqqq, 75 or so if you want cbot emini data.

[Sparrow 10]

CBOT e-mini data is no longer free, that offer ran out last month but opentick is still very cheap compared to other data services.

[brownsfan019 17]

Are you trading futures? Open ECry includes data/charting in their platform - costs nothing for access to their platform.

 

BINGO!

 

Open a small account at OEC and charting with all the data you could possibly want is FREE to customers. Now, I am guessing that they will want to see some sort of trading at some point, but even if not I believe it's $25/mo.

 

I think you'll be hard pressed to beat that.

 

And to top it off, it's good stuff! Even though free, better than what I was previously paying $500/mo for...

 

Send me a PM with any specific questions on OEC if you'd like.

 

http://www.openecry.com/

[brownsfan019 17]

DTN iq you can get for 55 a month if you just stick with spy/qqqq, 75 or so if you want cbot emini data.

 

I had a very bad experience with DTN when plugging their data in MultiCharts. Could be an isolated incident, but just an FYI.

[zentrader 10]

Thanks everyone. I am gonna try open tick with the free ninja version. Hopefully it wont cost me a penny/

 

cheers

zentrader

[zentrader 10]

Just wanted to follow up on the subject

 

I went to open tick and they still provide free data for the ym. Ninja trader also provides a free version that has charts. So basically u can have the whole setup for free. I know opentick charges for some of the other symbols but if your cool with just trading the ym its free. And free is fabulous.

 

Thanks evveryone

[thrunner 10]

cool with just trading the ym its free. And free is fabulous

You can do simulated trading/charting automation with NT/OT combo, actual live trading is not free with NT. For actual trading, you'll still need a broker, some of whom will supply a crippled/minimally functional NT for free with their 'free' data in exchange for commission.

[mister ed 10]

Is the YM still going to be free after the trading switches over to the CME?

[brownsfan019 17]

Is the YM still going to be free after the trading switches over to the CME?

 

I wouldn't hold my breath. I have nothing to base that on, but I do not believe the CME offers ANY data for free.... I doubt that will change here.

 

Who knows, maybe the YM traders will unite and revolt!

[newguy 10]

i dont understand, why dont you just sign up with a broker like mirus trading which i think provides you with free zen-fire futures data feed. Hell i am using their zenfire data feed now with only a demo account. Then all you have to pay is the 50 bucks to use ninjatrader. So you net net is $50 month total for ninjatrader + zen-fire feed, which is considered one of the better setup for futures.

[torero 10]

The most important point everyone seems to miss here is back fill. These are live feed which is excellent but to do some testing, you need some back fill when the internet or connection goes down. Unless I'm wrong, I couldn't find this answer in opentick website nor did I see non-data feed orgs covering this. What about IB?

[torero 10]

ok, looks like OT may have back fill.

 

http://www.opentick.com/index.php?app=content&event=market_data

 

I guess it's not a bad option.

[spyro 10]

hey

 

i make some test on OPENTICK and OPEN E CRY

 

and the results are diffrent

 

OEC have more NET VOLUME then the OPENTICK !!!

 

 

someone here found it too?

[justlurkin 10]

hey

 

i make some test on OPENTICK and OPEN E CRY

 

and the results are diffrent

 

OEC have more NET VOLUME then the OPENTICK !!!

 

 

someone here found it too?

 

Yes, OpenTick does have less volume because it reports from individual exchanges. If not specified it reverts to some default (not recommended even on their site). In order to get all data across all exchanges that the product is traded you need to specify Exchange = @.

Essentially, a request for MSFT would end up looking like this @MSFT.

 

Check out their forums and exchanges page for more info. Also note as the @ symbol works in real time data, it is not supported for Historical backfills for the time being.

 

IB data is sampled data but you should get most/all volume, but probably not all ticks as they are aggregated. Their historical backfill is slow, but it is a one time hassle.

 

It all depends on what your needs are. You do get what you pay for (until OT fixes their end).

 

BTW, is there a way to request continuous contracts thru IB?

[spyro 10]

thanks for the answer

 

but im try to understand where i need to spcify the exchange = @

 

to change it but i cant find ...

 

if you can explain again please..

 

thank you very much

[CandleWhisperer 10]

Have you thought about opening a FOREX account? Almost all of them provide a charting package with free data for both real accounts and demo (simulated trading).

 

If you believe that a chart is a chart, then you can use the currencies to test and build your strategies. Of course, if you ultimately want to scalp the e-mini for a tick or two, this would not be the best way to build a strategy to do that. But if you are a swing/position trader, it should do.

 

I hate that I am going to say this, but if you're undercapitalized the Forex market is a great way to get started. The standard Euro contract is $10.00 a pip. Some brokers have mini contracts that are as little as $1.00 per pip. You could open an account for $200. All your data would be free, you charting free and you could still have a "real world" experience.

 

Before I get my head bitten off, I know the number one reason new traders fail is undercapitalization. But I am not going to tell someone they have to have $50,000 to start to follow their dream. It's their dream, and where they are at presently is where they are at. Far be it from me, a dreamer myself, to stamp on another's dream.

 

With that said, Some FOREX demo accounts never expire so you could test things out while you saved up money to trade for real.

[justlurkin 10]

thanks for the answer

 

but im try to understand where i need to spcify the exchange = @

 

to change it but i cant find ...

 

if you can explain again please..

 

thank you very much

 

Spyro, don't know your platform but check with them first. The @ symbol is part of OT API but your platform may/may not support it.

Also note that Yahoo includes extended hours volume in their quotes. You may or may not want this so just make sure you are comparing apples to apples between broker feeds.

[strtedat22 10]

Are you trading futures? Open ECry includes data/charting in their platform - costs nothing for access to their platform.

 

 

You took the words right out of my mouth:cool:

[smwinc 20]

When you are just paper trading, I completely agree that you want to keep costs as close to zero as possible.

 

In my opinion, this is the best combo:

 

 

Charting:

 

Ensign Windows is 39.95 / month.

 

Data:

 

FXCM feed is included free.

Interactive Brokers provides stock/futures/bond data for free. Account minimum required is $2,000 USD (or is it $5,000USD?)

 

HOWEVER: a "bug" if you like with I.B; once you have deposited the funds and your account is active, you can withdraw your 99% of your funds (leave like $50 in there).

 

After a few months, they will send you an auto generated email along the lines of:

 

"please note, your account is below the minimum, please deposit additional funds or your account will be closed..." etc.

 

What they actually do is seize the funds from inactive low-balance accounts, however because that is such a cruel thing to do, they have to give plenty of warning. Like 2- 4 months.

 

After you get the warning emails, go into your I.B account and click the button that indicates you are putting in a deposit. This begins the cycle again - After a month your 'pending deposit' expires, you get another warning email, send another 'pending deposit' note, wait a month, etc etc..

 

I have had an old I.B account with less than $10 in it for over a year now.

[OAC 10]

Once you are hooked up with IB feed, you can use Ninjatrader and Quotetracker,both are professional level programs that are basically free. Also if you use multiple monitors like I do, both of them have free floating charts. Halleuya !!!

Edited April 6, 2008 by OAC

[DbPhoenix 42]

Have you thought about opening a FOREX account? Almost all of them provide a charting package with free data for both real accounts and demo (simulated trading).

 

If you believe that a chart is a chart, then you can use the currencies to test and build your strategies. Of course, if you ultimately want to scalp the e-mini for a tick or two, this would not be the best way to build a strategy to do that. But if you are a swing/position trader, it should do.

 

I hate that I am going to say this, but if you're undercapitalized the Forex market is a great way to get started. The standard Euro contract is $10.00 a pip. Some brokers have mini contracts that are as little as $1.00 per pip. You could open an account for $200. All your data would be free, you charting free and you could still have a "real world" experience.

 

Before I get my head bitten off, I know the number one reason new traders fail is undercapitalization. But I am not going to tell someone they have to have $50,000 to start to follow their dream. It's their dream, and where they are at presently is where they are at. Far be it from me, a dreamer myself, to stamp on another's dream.

 

With that said, Some FOREX demo accounts never expire so you could test things out while you saved up money to trade for real.

 

Actually, the number one reason why traders fail, new or otherwise, is that they don't know what they're doing. If he wants to trade FX, it won't matter whether the cost is $10 or $1 or ten cents. Knowing what he's trading and how to trade it is paramount.

 

If he wants to trade index futures, on the other hand, a cheap way to do it is to analyze and take signals from the emini and enter the trade on the ETF, whether DIA or SPY or QQQQ.