Beginners

Quote from cross48:

For now I just want forex, maybe futures in the future. Seems expensive with Multi charts. Do you know of better approaches that will accomplish the same outcomes ? Do you of other people using a DOM ? with multiple windows loke 1 min,5min,10min, etc. Thanks for you help and input.
Cross48
sierra is only $19/month
 
Quote from cross48:

Oldtimer,

To find this platform would it be sierra trading .com ?
sierra charts, you would still be with mb, but sierra is a cheaper alternative to Multi. you can check out the reveiws on the software review section of ET. I haven't used them for a long time, but they had very nice charts back then, so I suppose they are better now, and the price has only gone up from 17 which I paid to 19. You can get a free trial and see if that is good enough for you. They also have premium packages. You will need to see if they use the MB feed, but I'm pretty sure they will. I know they use ib and deep discount feeds. and MB is pretty well known.

doesn't MB just have a default platform you can use for free? All I use is the default ib platform they call tws, that is good enough for me.
 
Free Forex charts...descent quality and reliable.. i use them as back-up..


http://www.netdania.com/Products/li...ates/real-time-forex-charts/FinanceChart.aspx


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Quote from cross48:

For now I just want forex, maybe futures in the future. Seems expensive with Multi charts. Do you know of better approaches that will accomplish the same outcomes ? Do you of other people using a DOM ? with multiple windows loke 1 min,5min,10min, etc. Thanks for you help and input.
Cross48

Personally, I found DOM trading to work best in markets with fixed tick levels and centralized quotes/book (futures.)

The fractional pip pricing and lack of a centralized order book makes DOM trading on spot forex not quite that awesome.

MC itself is a good platform though.
 
Quote from Jack_Larkin:

Personally, I found DOM trading to work best in markets with fixed tick levels and centralized quotes/book (futures.)

The fractional pip pricing and lack of a centralized order book makes DOM trading on spot forex not quite that awesome.

MC itself is a good platform though.
I agree, dom really means something in ES where you can see almost exactly where you are in line, but in forex, it moves so fast and only is a snapshot of the crowd you are trading with as to be almost meaningless.
 
cross48: I've never used DOM but isn't spot fx just the dom of That broker ?
also since there's no standard contract size - micro, mini, lot all mixed together, isn't
the result artificial ?

which comes first, price moves from the spot market or the futures market ?
especially when large futures orders spike the price up or down, however the futures
dom is based on the daily for eg 6E which averages 250K contracts per session and
a single source of data of a standardized contract

you'd need to phone Amp and ask but they used to offer spot fx trading via GAIN, which
meant a trader could use the free NinjaTrader that has dom. while I presume the dom
could be used on the spot, a second dom could be opened ??? or switched to the 6E
contract to see whatever it is you're looking for in the dom of the 6E as well as spot
http://www.ampfutures.com/


seems we're of like mind gentlemen ;
 
Quote from lymanem:

Are there any Forex Daytrader beginners in this group?
Thanks
Yes i am daytrader and day trading is very beneficial and majority market is in the favour of the trader. Movement of market is quit good in day and we can hit our targets.
 
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