Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Freddie

Futures Trading and Software

Recommended Posts

Hi all,

 

Just in the process of finishing up John Carter's book and am thinking of moving over to trading e-mini futures both intraday and swing trading; mostly intraday to start. I will be using Interactive Brokers (IB) as it is the best discount broker here in Canada.

 

I'd like to find a software package like Tradestation that will work with IB as it looks like tradestation can backtest, has charting software, automated order entry and exit, etc. all that I need along with historical data. The only problem with TS is that for me it's $250 per month (A bit steep for starting out) and I cannot open an account with them as from what I remember a few years ago when setting up my IB account, Canadians are not allowed to open US trading accounts with US firms and that is why IB opened a branch in Canada.

 

So it's either pay $250 per month or look for alternate solutions. Anyone have any suggestions? I was thinking Ninjatrader for order management and charting, maybe Amibroker or Wealth lab for backtesting, still need a good source of historical data for e-mini futures.

 

thx for your help

Share this post


Link to post
Share on other sites
Guest FLX

Tradestation is only 120 to 140 a month with emini account. FLX

Share this post


Link to post
Share on other sites

Freddie,

 

Tradestation waves the platform fee if you place more than 10 trades a month with them. So you will be only paying for exchange fees.

 

I am not sure what your options are there in Canada but you should try to get a platform that allows bracket orders, OSO orders like Ninjatrader or Infinity AT.

Share this post


Link to post
Share on other sites
Guest FLX

Multi chart is good with ninji trader data feed the fastest on the planet. We clock them and ninji trader is the fastest!

 

One problem if multi chart go"s down, can you get service help like Tradestation to put it back on line!

Share this post


Link to post
Share on other sites
Hi all,

 

Just in the process of finishing up John Carter's book and am thinking of moving over to trading e-mini futures both intraday and swing trading; mostly intraday to start. I will be using Interactive Brokers (IB) as it is the best discount broker here in Canada.

 

I'd like to find a software package like Tradestation that will work with IB as it looks like tradestation can backtest, has charting software, automated order entry and exit, etc. all that I need along with historical data. The only problem with TS is that for me it's $250 per month (A bit steep for starting out) and I cannot open an account with them as from what I remember a few years ago when setting up my IB account, Canadians are not allowed to open US trading accounts with US firms and that is why IB opened a branch in Canada.

 

So it's either pay $250 per month or look for alternate solutions. Anyone have any suggestions? I was thinking Ninjatrader for order management and charting, maybe Amibroker or Wealth lab for backtesting, still need a good source of historical data for e-mini futures.

 

thx for your help

 

Freddie:

You are misinformed. Canadians most certainly CAN open accounts with US firms. All they require is for you to sign a Letter of Non-Solicitation and other standard account/tax information.

Share this post


Link to post
Share on other sites
Guest KhurramNaik

You might be interested in trading on the Infinity AT. This is the platform my firm produced. It's nice because it's free, intuitive to use and you can try a real time demo of it. A few traders at Trader's Laboratory are already using it. You can try it here Infinity AT

 

What got you interested in trading?

Share this post


Link to post
Share on other sites
You might be interested in trading on the Infinity AT. This is the platform my firm produced. It's nice because it's free, intuitive to use and you can try a real time demo of it. A few traders at Trader's Laboratory are already using it. You can try it hereL Infinity AT

 

What got you interested in trading?

 

Yes I use that for execution and its awesome and use eSignal for charting.

Share this post


Link to post
Share on other sites

Thanks everyone for your help. I've been working with Ninja Trader the past few days and it seems to be more than enough for what I need and I still get to keep using IB for my broker. Isn't Infinity AT very similar to Ninja Trader?

 

I've heard that IB has better execution times than Tradestation and lower fees so it's not hard to recoup the $50 per month Ninja Trader fees with a little extra slippage and fees. Tradestation is good but I also think IB and Ninja Trader could be almost as good in terms of software and maybe a bit better in terms of execution. Anybody want to jump in on this?

 

Only problem with IB and NT are only 1 year of historical data from IB. Should be ok for most backtests but I'd like to also be able to do backtests in other market conditions. Anyone know of a good place to get historical futures data?

 

thx again.

 

Ed

Share this post


Link to post
Share on other sites

Soultrader,

 

I don't know why you choose to let brokers troll the board. That's how people like Woodie lost his soul and his reputation - inviting the sharks in to feed on the weak swimmers.

 

Personally I think its spam so I choose to leave this board while people like naik are welcome.

 

IMO you shouldn't invite the predators in to prey on the weak. But its your board.

 

CU.

Share this post


Link to post
Share on other sites

Totally agree with you Kiwi.

 

But I would also like to add that non-brokers should also be not allowed to pimp their wares.

 

I see that some people have recommended MultiCharts.

 

I have tried a demo of MultiCharts and would never recommend it.

 

Did not want to get entangled in a pissing contest - so kept quiet previously.

Share this post


Link to post
Share on other sites

TradeStation totally sucks for data reliability and execution speed.

 

For order execution you can't go wrong with IB's own BookTrader. You just need to configure it to exactly meet your needs. For charting Ensign is superb and is only $40 a month with IB data.

Share this post


Link to post
Share on other sites

Thanks James.

 

Notouch, Agreed that Ensign's a nice package especially if you like Andrews Pitchforks or the extensive fib extension products that are built in. If on a budget (or just looking and testing; or looking for a really good Market Profile package) then Sierra Chart is also well worth considering.

Share this post


Link to post
Share on other sites
I know I can't be the first to ask this.... but I can't seem to find it anywhere else... what are the platform and clearing fees for Infinity AT?

Thanks in advance...

 

hi Bocatrader,

 

The commisions are negotiable with Infinity. They dont have any software/platform fees but they do offer good rates. You can contact Khurram at k.naik@infinitybrokerage.com directly. He is working with members on Traders Laboratory directly for those who are interested in the Infinity AT platform.

Share this post


Link to post
Share on other sites
TradeStation totally sucks for data reliability and execution speed.

 

notouch - I'm surprised by your TS statement regarding data. I have not had a problem (knock on wood) in months. Many, many months. I had tried ESignal and they had major data issues then and came back to TS and haven't looked back.

 

What markets are you trading where the data is unreliable? I trade the main e-mini markets and the Euro FX and it's been great for months!!

 

I do not trade thru them, so can't speak on behalf of execution. Don't care to have all my eggs in one basket.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 4th April 2025.   USDJPY Falls to 25-Week Low as Safe Havens Surge and Markets Eye NFP Data.   Safe haven currencies and the traditional alternative to the US Dollar continue to increase in value while the Dollar declines. Investors traditionally opt to invest in the Japanese Yen and Swiss Franc at times of uncertainty and when they wish to avoid the Dollar. The Japanese Yen continues to be the best-performing currency of the week and of the day. Will this continue to be the case after today’s US employment figures?   USDJPY - NFP Data And Trade Negotiations The USDJPY is currently trading at a 25-week low and is witnessing one of its strongest declines this week. The exchange rate is no longer obtaining indications from the RSI that the price is oversold. The current bullish swing is obtaining indications of divergence as the price fails to form a higher high. Therefore, short-term momentum is in favour of the US Dollar, but there are still signs the Japanese Yen can regain momentum quickly.       USDJPY 1-Hour Chart     The price movement of the exchange rate in both the short and long term will depend on 3 factors. Today’s US employment data, next week’s inflation rate and most importantly the progress of negotiations between the US and trade partners. If today’s Unemployment Rate increases above 4.1%, the reading will be the highest seen so far in 2025. Currently, the market expects the Unemployment Rate to remain at 4.1% and the Non-Farm Payroll Change to add 137,000 jobs. The average NFP reading this year so far has been 194,000.   If data does not meet expectations, US investors may continue to increase exposure away from the Dollar and to other safe-haven assets. Previously investors were expecting only 2 rate cuts this year from the Federal Reserve, however, most investors now expect up to 4. If today’s employment data deteriorates, economists advise the Federal Reserve may opt to cut interest rates sooner.   Therefore, it is important to note that today’s NFP will influence the USDJPY to a large extent. Whereas in the longer-term, trade negotiations will steal the spotlight. If trade partners are able to negotiate the US Dollar can correct back upwards. Whereas, if other countries retaliate and do not negotiate the US Dollar will remain weak.   USDJPY - The Yen and the Bank of Japan The Japanese Yen is the best-performing currency in 2025 increasing by 6.70% so far. Risk indicators such as the VIX and High-Low Indexes continue to worsen which is positive for the JPY as a safe haven currency.   Yesterday Japan released March business activity data that came in weaker than expected: the Services PMI dropped from 53.7 to 50.0, while the Composite PMI fell from 52.0 to 48.9. The data is the lowest in two years. These figures could hinder further interest rate hikes by the Bank of Japan. However, most economists still expect the Bank Of Japan to hike at least once more. It's also important to note, that even if the BOJ opts for a prolonged pause, a cut is not likely.   Additionally, a 24% tariff was imposed on Japanese exports to the US yesterday. Prime Minister Mr Ishiba expressed disappointment over Japan's failure to secure a tariff exemption and pledged support measures to help domestic industries manage the impact.   Key Takeaway Points: US Dollar Weakens, Safe Havens Rise: The Japanese Yen and Swiss Franc continue to gain as investors shift away from the US Dollar. USDJPY Under Pressure: USDJPY trades at a 25-week low, with short-term momentum favouring the Dollar but long-term trends pointing to potential Yen strength. NFP and Unemployment Crucial: Today’s Non-Farm Payrolls and unemployment figures will heavily influence short-term USDJPY. On the other hand, trade negotiations will dictate longer-term trends. Japan Faces Mixed Signals: Despite weak PMI data and new US tariffs, the Japanese Yen remains strong. Economists expect at least one more rate hike from the Bank of Japan, but no cuts are in sight. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • YUM Yum Brands stock, nice breakout with volume +34.5%, from Stocks to Watch at https://stockconsultant.com/?YUM
    • Date: 3rd April 2025.   Gold Prices Pull Back After Record High as Traders Eye Trump’s Tariffs.   Key Takeaways:   Gold prices retreated after hitting a record high of $3,167.57 per ounce due to profit-taking. President Trump announced a 10% baseline tariff on all US imports, escalating trade tensions. Gold remains exempt from reciprocal tariffs, reinforcing its safe-haven appeal. Investors await US non-farm payroll data for further market direction. Fed rate cut bets and weaker US Treasury yields underpin gold’s bullish outlook. Gold Prices Retreat from Record Highs Amid Profit-Taking Gold prices saw a pullback on Thursday as traders opted to take profits following a historic surge. Spot gold declined 0.4% to $3,122.10 per ounce as of 0710 GMT, retreating from its fresh all-time high of $3,167.57. Meanwhile, US gold futures slipped 0.7% to $3,145.00 per ounce, reflecting broader market uncertainty over economic and geopolitical developments.   The recent rally was largely fueled by concerns over escalating trade tensions after President Donald Trump unveiled sweeping new import tariffs. The 10% baseline tariff on all goods entering the US further deepened the global trade conflict, intensifying investor demand for safe-haven assets like gold. However, as traders locked in gains from the surge, prices saw a modest retracement.   Trump’s Tariffs and Their Market Implications On Wednesday, Trump introduced a sweeping tariff policy imposing a 10% baseline duty on all imports, with significantly higher tariffs on select nations. While this move was aimed at bolstering domestic manufacturing, it sent shockwaves across global markets, fueling inflation concerns and heightening trade war fears.   Gold’s Role Amid Trade War Escalations Despite the widespread tariff measures, the White House clarified that reciprocal tariffs do not apply to gold, energy, and ‘certain minerals that are not available in the US’. This exemption suggests that central banks and institutional investors may continue favouring gold as a hedge against economic instability. One of the key factors supporting gold is the slowdown that these tariffs could cause in the US economy, which raises the likelihood of future Federal Reserve rate cuts. Gold is currently in a pure momentum trade. Market participants are on the sidelines and until we see a significant shakeout, this momentum could persist.   Impact on the US Dollar and Bond Yields Gold prices typically move inversely to the US dollar, and the latest developments have pushed the dollar to its weakest level since October 2024. Market participants are increasingly pricing in the possibility of a Fed rate cut, as the tariffs could weigh on economic growth.   Additionally, US Treasury yields have plummeted, reflecting growing recession fears. Lower bond yields reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.         Technical Analysis: Key Levels to Watch Gold’s recent rally has pushed it into overbought territory, with the Relative Strength Index (RSI) above 70. This indicates a potential short-term pullback before the uptrend resumes. The immediate support level lies at $3,115, aligning with the Asian session low. A further decline could bring gold towards the $3,100 psychological level, which has previously acted as a strong support zone. Below this, the $3,076–$3,057 region represents a critical weekly support range where buyers may re-enter the market. In the event of a more significant correction, $3,000 stands as a major psychological floor.   On the upside, gold faces immediate resistance at $3,149. A break above this level could signal renewed bullish momentum, potentially leading to a retest of the record high at $3,167. If bullish momentum persists, the next target is the $3,200 psychological barrier, which could pave the way for further gains. Despite the recent pullback, the broader trend remains bullish, with dips likely to be viewed as buying opportunities.   Looking Ahead: Non-Farm Payrolls and Fed Policy Traders are closely monitoring Friday’s US non-farm payrolls (NFP) report, which could provide critical insights into the Federal Reserve’s next policy moves. A weaker-than-expected jobs report may strengthen expectations for an interest rate cut, further boosting gold prices.   Other key economic data releases, such as jobless claims and the ISM Services PMI, may also impact market sentiment in the short term. However, with rising geopolitical uncertainties, trade tensions, and a weakening US dollar, gold’s safe-haven appeal remains strong.   Conclusion: While short-term profit-taking may trigger minor corrections, gold’s long-term outlook remains bullish. As global trade tensions mount and the Federal Reserve leans toward a more accommodative stance, gold could see further gains in the months ahead.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AMZN Amazon stock, nice buying at the 187.26 triple+ support area at https://stockconsultant.com/?AMZN
    • DELL Dell Technologies stock, good day moving higher off the 90.99 double support area, from Stocks to Watch at https://stockconsultant.com/?DELL
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.