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JBahn

Who has a good paper trading simulator

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I have been reading and studying about as much as I can take it. It is now time to get a paper trading account.

 

Any recommendations on what works well with simulated e-mini trading? I dont mind paying a small access fee as long as it isnt anything outrageous.

 

Thanks for any advice

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If you go to the CBOT`s website you will see a heading " Education" click on it, look to the left of your screen and you will see "simulators" click on it, there is a list to pick from.

 

Regards,

Emile

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Guest cooter

Another one is some outfit called "Open E Cry". Small broker out of Ohio, with an owner who runs his own private futures hedge fund.

 

But try Infinnity's software too. Compare and contrast and see what's easier for you to use. Just be wary about what broker you are assigned to over there.

 

You'll find that if you spend more time managing your live trades, than planning and executing your trades, it can overwhelm you.

 

Remember, though, because it's "simulated" you'll get filled much sooner than in real-life (in essence, no slippage). So you might want to take that into account when devising and implementing your approach to futures trading.

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Remember, though, because it's "simulated" you'll get filled much sooner than in real-life (in essence, no slippage). So you might want to take that into account when devising and implementing your approach to futures trading.

 

Regarding this statement and Infinity's sim...thats not true. There are plenty of times that I won't get filled at a price when someone I trade with will be trading live and get filled at that exact price.

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I have been reading and studying about as much as I can take it. It is now time to get a paper trading account.

 

Any recommendations on what works well with simulated e-mini trading? I dont mind paying a small access fee as long as it isnt anything outrageous.

 

Thanks for any advice

 

Do's or Don'ts of Simulator Trading:

 

* If you have not selected a broker...only use the simulator from a few brokers your considering opening a trading account with.

 

* If you have selected a broker...only use their simulator.

 

* Simulator should only be used to learn the broker execution platform and not for testing a new method unless your testing a built-in strategy code that is an option in the simulator itself.

 

Thus, use a backtesting software or manually test your strategies and then move into real money trading with a small position size but only when you feel comfortable in using your broker trade execution platform.

 

Most traders takes about a month to fully learn their broker execution platform while simulating trading.

 

Then it usually takes an additional 1 - 2 months to feel comfortable using the platform with real money on the line.

 

* No trading plan, no well defined strategy regardless if its profitable or not...

 

Don't use a simulator until your ready to simulate your method and your ready to learn how to use your broker execution platform.

 

There's also another use for the simulator.

 

Lets pretend your one of those traders that consistently makes profits in the morning a.m. trading session but yu tend to lose those profits in the afternoon p.m. trading session...

 

Only use a simulator in the afternoon p.m. trading session until you can determine (resolve) your trading problems for that trading session.

 

However, the best solution in that particular situation is to not trade (no real money nor simulator) in the afternoon p.m. trading session.

 

In addition, when you do use a simulator, only use the exact same position size that equals what you will be using in real money trading when you first plan to go live with real money trading.

 

For example, lets say you will eventually trade 10 ES contracts (you have the account size for such) but you want to take it easy in the beginning and only trade 1-2 contracts.

 

Thus, when you simulate trade...only do it with 1-2 contracts and not 10 contracts.

 

Summary: It's only time to use a simulator when you're satisfied with your method's backtesting results, you have a well defined trading plan and your now ready to learn your broker trade execution platform.

 

Too many traders make the classic mistake of using a simulator while they don't have a trading plan nor a proven method via backtesting.

 

This mistake will cause trading problems when you do go to real money trading.

 

Mark

(a.k.a. NihabaAshi) Japanese Candlestick term

 

"Volatility Analysis is a doorway to consistent profits."

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There are plenty of times that I won't get filled at a price when someone I trade with will be trading live and get filled at that exact price.

Good for you. How do you find the simulator helps your trading? Are you saying that you think that it is realistic?

 

For example, here's a training video on scalping the S&P futures (ES) using the Infinnity AT platform on a LIVE account (not demo).

 

Live Scalp Trade on Emini S&P Futures

 

I think the best use of the simulator is to familiarize yourself with the bells and whistles of the platform before trading live.

 

The feature set that is demonstrated seems to lessen the learning curve of setting and adjusting stops and profit targets manually, something that can trip up a newbie real easily.

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JC is wrong when said that stuff about the demo account. Notice on his first 10 lot he got taken out without the bid being above his offer? That would not happen in the simulator. The sim makes it so that the bid must touch your offer.

 

I did sim for a few days last week to help me figure out if I lacked confidence in my setups or if something else was wrong emotionally. My setups are on fire, so now I feel much better. The AT platform kicks butt!

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Open E Cry's sim is pretty sharp...and I hear Ninja Trader has an algorithm to mimic slippage, etc....you can actually adjust settings if I am not mistaken...

 

I've used OEC and Ninja on paper. Neither just fill your order when touched, they put you in line like a real trade it seems. I've gotten paper slippage on orders. That's my biggest fear of going live, not emotions but expecting fills that aren't realistic. From what I'm told and can tell this won't be an issue with how these simulators handle orders though.

No internals on either yet which sucks. I can't wait to go live and just get Tradestation setup.

 

Ninja has a sweet reporting tool and simple bracket order options.

OEC has a much better OCO order setup and better chart trading.

 

To be honest if OEC had internals I'd probably use them over Tradestation due to the no minimum trades for the platform to be free and the more attractive daytrade margins on YM.

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I tried Interactive brokers simulater and was not satisfied with it for daytrading eminis. I also tried Ninja Trade briefly but it did not appeal to me. I'm interested in Infinity, but I think they intend it as a demo rather than a simulator, so not sure if they will allow a long term use of it. Currently I'm using Open E Cry.

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you can tell their staff via chartroom...feedback on the OEC trader platform to improve it

 

hopefully they will do something about it on their next software upgrade

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Interactive Brokers has a good trading simulator. They also give you daily, weekly, monthly statements on the simulated tading account. Simulated comissions are also included.

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i find the ninja trader order system to be pretty nifty where it allows the user to trade straight off the chart. however there are other aspects which need improvement

 

Does anyone know of a similar progam that allows the ability to trade off the chart?

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i find the ninja trader order system to be pretty nifty where it allows the user to trade straight off the chart. however there are other aspects which need improvement

 

Does anyone know of a similar progam that allows the ability to trade off the chart?

 

Open E Cry has the best chart ordering bar none IMO.

Ninja is not bad on chart ordering but not on the level of OEC. In fact if I wasn't hellbent on using Tradestation when I go live I'd just use OEC as my broker. :o

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As MC said, the trade from the chart feature is nice with OEC. I don't use it much myself, but it is a nice feature.

 

I love the oco order entry on the chart.

I look for support and resistance and slam in the order quick and easy.

You hold shift and right click at the target and stop price and you're done.

:cool:

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I am surprised no one has really come up with a hardcore stand alone simulator program...of course there is NT, etc.....and I see the practicality in that since it's also a real platform, as is OEC...

 

But still, it just surprises me that in the world of marketing everything to do with trading...that no one has really made a dedicated simulator program (that I am aware of at least).

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I am surprised no one has really come up with a hardcore stand alone simulator program...of course there is NT, etc.....and I see the practicality in that since it's also a real platform, as is OEC...

 

But still, it just surprises me that in the world of marketing everything to do with trading...that no one has really made a dedicated simulator program (that I am aware of at least).

 

It's a good point Reav and one that could easily be done by these existing vendors. There seems to always be some shortcoming in simulator trading.

 

I guess the answer is that most probably would rather learn on the software they are going to use in real-time vs. some simulator software and then switch over to something else.

 

So it's really a matter of why have some vendors done so little to their simulators?

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