need help in setting up trading software

A

arnabsen3

hey guys
well i am from india ,where the trading stuff is pretty simlified(not much options).The broker software provides the chartig and trading interface. so i get my quotes and enter my order in one software itself and see the charts too.

I would want to trade futures using Interactive brokers.
Looking at all the software around i am getting confused.
So i have a few questions.

1. what is the trading setup of most guys?
for example i see lots of guys writing Quote Tracker and IB data feed.

2. so which software allows u to enter orders in Quote Tracker + Ib data feed combo?

3. does datafeed mean only data is supplied or orders are also placed through it. eg IB

4. Another example sierra charts , does it provide only charts and i have to trade using the IB TWS software OR i trade using the charting software.

5. lastly in some setups i see :
Ninja trader + IB tws + sierra charts .
Why are we using ninja and which place in the three software i actually hit the buy/sell button.


Thanks in advance guys (cos i know pretty naive questions)
 
Quote from arnabsen3:

hey guys
well i am from india ,where the trading stuff is pretty simlified(not much options).The broker software provides the chartig and trading interface. so i get my quotes and enter my order in one software itself and see the charts too.

I would want to trade futures using Interactive brokers.
Looking at all the software around i am getting confused.
So i have a few questions.

1. what is the trading setup of most guys?
for example i see lots of guys writing Quote Tracker and IB data feed.


A lot of people use this combination. Very inexpensive and works fine.

2. so which software allows u to enter orders in Quote Tracker +
Ib data feed combo?

IB supplies the interface upon which you enter orders.

3. does datafeed mean only data is supplied or orders are also placed through it. eg IB


IB supplies the data and takes your orders.



4. Another example sierra charts , does it provide only charts and i have to trade using the IB TWS software OR i trade using the charting software.

Sierra supplies only the charts

5. lastly in some setups i see :
Ninja trader + IB tws + sierra charts .
Why are we using ninja and which place in the three software i actually hit the buy/sell button.

NinjaTrader is a frontend for IB that simplifies placing orders.


Thanks in advance guys (cos i know pretty naive questions)
More...
 
thanks a lot easyrider.
Though i have one more question

which brokers can i open an account with less than $2000 for futures?
 
I don't think you can trade with less than $2K @IB. I believe you can open an account and get their datafeed for about $500 deposit and $10 per month for datafeed to trade a demo account until you get enough capital. But you need over $2000 to open a trade at IB.

QuoteTracker is a charting program that's free and will use IB's datafeed. Those two are a pretty good combo if they suit your needs but you're going to need more capital to trade regardless of where you open your account.
 
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