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New Emini trader; what best platform for newbie?
- Thread starter Dominic
- Start date
No I am serious. There is nothing better out there for my needs. It is just plain sexy. Mainly you need to use a plenty of light pastel colors and stay away from solids. Also include medium to light greys.
What happens with most people is that they don't know what they like so it is impossible for them to configure something beyond how it comes. This is the reason you see so many people looking at just plain ugly charts IMO. But clearly to them that might be a good looking chart.
Out of all the DOM's I have seem, BOOKTrader if configured right is sleek, hyper efficient and crisp. By far the most polished platform I have dealt with ranging from the buttons, configuration styles and ease of use. Plus there is a difference when everything is in house no matter how many people tell you there isn't. I know people that get slippage all the time. I rarely get a 1 tick slippage.
Again at some point I know IB is adding the Target 1, 2 and 3 that are currently disabled. Then there would be almost no reason to go with Ninja. If you must have automation then Ninja is my first choice but as far as looks it won't look or feel better than BookTrader when fully configured.
Believe me I know that some people don't care about about interface looks but I do. If you just like the functionality and don't really care about aesthetics then Bracket-Trader is free and does everything Ninja does. Great front end for IB. Probably the way to go.
Here is the option I would go with if I need a deep discount futures broker with the cheap $500 margins and a solid automated free platform.
Infinity with the AT platform. Positive things are 4.80 round trip if you say you won't sign up for anything other than that deal and the platform. That setup is pretty much golden.
There is and endless number of setups out there. I just gave you my top 4. IB-BT (Manual DOM), IB-Ninja (Not Free Fully Automated), IB-BracketTrader (Free Fully Automated) and Infinity-AT (Low Margin Free Fully Automated)
What happens with most people is that they don't know what they like so it is impossible for them to configure something beyond how it comes. This is the reason you see so many people looking at just plain ugly charts IMO. But clearly to them that might be a good looking chart.
Out of all the DOM's I have seem, BOOKTrader if configured right is sleek, hyper efficient and crisp. By far the most polished platform I have dealt with ranging from the buttons, configuration styles and ease of use. Plus there is a difference when everything is in house no matter how many people tell you there isn't. I know people that get slippage all the time. I rarely get a 1 tick slippage.
Again at some point I know IB is adding the Target 1, 2 and 3 that are currently disabled. Then there would be almost no reason to go with Ninja. If you must have automation then Ninja is my first choice but as far as looks it won't look or feel better than BookTrader when fully configured.
Believe me I know that some people don't care about about interface looks but I do. If you just like the functionality and don't really care about aesthetics then Bracket-Trader is free and does everything Ninja does. Great front end for IB. Probably the way to go.
Here is the option I would go with if I need a deep discount futures broker with the cheap $500 margins and a solid automated free platform.
Infinity with the AT platform. Positive things are 4.80 round trip if you say you won't sign up for anything other than that deal and the platform. That setup is pretty much golden.
There is and endless number of setups out there. I just gave you my top 4. IB-BT (Manual DOM), IB-Ninja (Not Free Fully Automated), IB-BracketTrader (Free Fully Automated) and Infinity-AT (Low Margin Free Fully Automated)
New to The terminology of the Trade and software...What Is a DOM and what is the difference between automated and fully automated. Also, What is more reliable as a platform...Web-based vs. software downloaded platform? I know IB offers both...thank you so much...So many options out there regarding platforms to use, brokers, commissions, charts. Also, what is the best streaming charting software to use regarding to trading on the streaming chart? Thank you guys again.
What exactly is a 'DOM' I know it means depth of market...but what is it referring to....Depth of market in matching orders with one another?
It refers to the several visible levels of market participants in a futures book.
Do you know what "Level II on a Nasdaq stock is?
DOM is Level II for an ES or other futures market, as opposed to just seeing the highest bid, and lowest offer, you can see the market below the bid and above the offer.
Does this make sense?
http://www.ibdirect.com/PlatformImages/DOM.png
Do you know what "Level II on a Nasdaq stock is?
DOM is Level II for an ES or other futures market, as opposed to just seeing the highest bid, and lowest offer, you can see the market below the bid and above the offer.
Does this make sense?
http://www.ibdirect.com/PlatformImages/DOM.png
Quote from vrtrop22:
Getin, Global Futures is a fine company. I like the strategy runner pro/lite platform which is free I believe. For trading the ES you would do fine with Strategy Runner. Get the free Strategy runner paper trade platform from them and test it out. Since you are new to the game, I will let you in on secret. What platform you use doesn't matter. As long as the data feed is good and you can get in and out of your orders you will be fine.
I use SR and like it for the simple fact that your orders rest on their servers and not on your computer so if your computer goes down your stops/ orders will still execute.
New to trading the mini sps and still trying to understand trading terminology. I now understand dom..... I guess not all trading platforms provide dom just basic dom of bid/ask and amount of lots (not prices above or below bid/ask) SO basically the best platform would be tt trader at $650/month since that platform is a direct DOM? Does this make sense? still in the infant stages of learning..... Also, I see many trading set-ups with data feeds? What exactly is a data feed? is it the small boxes of bid/ask prices/order sizes of a particular market. What is the benefit of using a data feed instead of a streaming graph, if I am explaining this right? very confused as a newbie
Getin, get away from this mindset that there is a magical best platform. There is not. You are probably not going to be using complex macros to automate your orders. I (gasp!) use market orders most of the time. It is your methodology and money management that will save you. The great thing is that you can test all these platforms out in demos and see what suits you best. I suggest that you goggle InformedTrades. There are videos he has on there for order entry and he is using one of the most basic platforms out there.
most good firms give $3.80 RT
dont get scammed by paying more
dont get scammed by paying more