Need Help with Futures Questions

I think many traders of ordinary stocks are interested in learning how to trade index futures.Every broker dealer site you look at promises everything,just trust them.I looked at the fasttrader protrader screen shot and couldnt see any chart.Please tell me where do I go to get live charts with maximum bells and whistles.Is Esignal a good one?What about the charts offered by CME and where do they get them?CME claims to offer a whole swag of indicators/studies with their intraday charts,and I saw what some of them were,but it makes you suspicious when they cant give an easy to find list.
If you trade index futures please tell us what your favorite intraday chart source is and why.
 
Quote from howellpar:

Best Quote Service for E.Mini and for Commodities?
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ES/NQ data is $10 from CME, and the YM data is free. These fees are on top of whatever data feed you're using: RealTick Trade Station, eSignal... Just for interest' sake, I use Trade Station, and also have eSignal on a trial. I've noticed that ticks hit eSignal about half a second faster than they do Trade Station. However, I don't know if this generally is the case, or if it is a quirk in the system.

I think if you open a brokerage account, and make a minimum number of trades with IB, they give you their data for free.

Prosper!

kp
 
I just remembered something I ran into at the Anaheim Online Trading Expo...

There's an outfit that will provide you with:

1. Free computer with two LCD screens.
2. Free eSignal data.
3. Free Squawk Box.
4. Free access to their private network, which they say gives you even FASTER data and order execution. (Access is not via the internet, but dialup phone connection to their server).

This all is conditional on your opening an account with their brokerage firm and paying about $15-17rt commission. (Minimum account balance I think is $10,000).

For someone whose trading style is low-volume, this might be something to consider. It won't work for me, 'cause I try to scalp 1 pt here and there.

Website is: www.floorpass.com

Cheer,

kp
 
Quote from Magna:

While FFasttrade may be a good company, their fees don't compare to IB's unless you trade the minis very heavy. In fact, because of their monthly $500 fee on top of their round-trip charge, you would need to make 338 round-trips per month just to equal IB's rate. That comes out to a little over 16 round-trips per day, every day. Except for the quarter and half-point scalper, that's quite alot of trades on average, much more than most people make.
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Its the number of round-trip CONTRACTS/mo. not the number of trades that must be taken into consideration in determining whether IB or FFAsttrade is less expensive, unless of course you are a 1 contract trader.
 
Quote from maxtrax:

Thanks for the reply.

Just out of curiosity, which brokers do you use?

Thanks,

MaxTrax
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I'm at Green Tree, i trade retail out of their office with good leverage. They use Spike and Jtrader software.
 
Quote from graeco:

When someone offers data it automatically means intraday charts with all the indicators?
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Any of the data feeds include all the common and not-so-common indicators. On top of what you pay for the data feed, you need to pay exchange fees, roughly $1 for NYSE, NASDAQ and so forth. CME E-minis are $10, and the full CME I think is $60 and so forth.

The data feed companies are always adding indicators, always trying to offer more and beat out the competition. Trade Station and eSignal both have recently released new versions of their software.

Excel!

kp
 
Quote from trendy:

Its the number of round-trip CONTRACTS/mo. not the number of trades that must be taken into consideration in determining whether IB or FFAsttrade is less expensive, unless of course you are a 1 contract trader.
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But of course. And since the person who started this thread has never traded futures before, I made the assumption that he would (at least initially) be a 1-contract trader. Whether or not he is, with FFasttrade he would still have to do 338 round-trip contracts per month just to equal IB's price.
 
Quote from bone:

A friend of mine put a million dollars into a futures trading account. He's a software developer. Wants to learn to trade.

Asked me the same questions.

After a long discussion, WE AGREED.

He will trade one-lots in the e-minis until his net-net-net-net profit will cover the max drawdown of his system times two.

We didn't discuss his entry system much. But we talked about his exit system at great length.
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Mercy me oh my! He wants to learn to trade! With a million bux! Geezus. I'm glad he has you providing some guidance, because I know, that you know the game.

Sure would be nice if he would take at least 950k of it and put it somewhere else besides his fuctures :D trading account though. The temptation to not go above 1 contract would be greatly reduced imho.

Tell him, "Welcome to the Jungle" I guess, but it sure would be tempting to trade heavier size with the big account size. (at least for me it would)

My two words of advice to your friend = (1) start with something more like 50k
(2) Stay REAL CLOSE to BONE !!!
 
Quote from maxtrax:

You folks probably heard all of this before but I've been reading the past threads and can't really find the answers to my specific questions.

I am going to start futures trading, but I have to find a broker first. Margin power for stocks are pretty much the same wherever you go, however, Futures, I hear different stories.
Which firms out there provide great leveraging power?

Also I've heard good things about IB, and their cheap commissions, are there any other brokers out their with cheap round turn prices, in addition to great margin power?

Antoher question that confuses me is the cost or capital needed to trade a single contract. How much capital is needed to trade the naz minis, sp minis and dow mini as opposed to the big ones?

I really appreciate this board and anyone who can provide any sort of help.

Thanks

MAXTRAX
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check out Tradestation - fees almost as low as IB and much better service and you don't need separate quotes/charts - yes, I use it and have absolutely zero complaints.

www.tradestation.com
 
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