Should I change my broker?

heavenskrow

heavenskrow

Ive wanted to get experience trading futures so I set up an IB account while using charts from thinkorswim.

I've been very cheap with IB by not paying market subscription for data. I simply use TOS charts and place orders from IB. I've been contemplating using for example TdAmeritrade to trade futures so that I can set my stops and entrys on the platform instead of having to go on IB to place the stops and entries.

Is this a good idea? What do you guys reccomend for beginners?
thanks
 
I almost fell off my chair.

Monthly subs are minute fraction of what you could be loosing. The least you could do is have a nice platform.

Demo a real futures platform for a few months. But, make sure you are sticking strictly to your trade management. Chat up the ET'ers like your really doing it.
 
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I was going to write a really good reply but feel I am too cheap to share my ideas, the opportunity cost of writing and sharing versus reading one of Xandman, BlackPacman, Market Surfer's, Phoenix's Doji's threads was too compelling of trade. How can you teach generousity to people who won't treat their accounts right? You can't, if you don't respect yourself enough to get good data and allow lots of slippage, there's nothing we can do to help you.


I've seen lose 50% on their trades because they were too cheap to pay commission and afraid to take a capital gain, was taking a "loss better on their conscience?" I asked, strangely enough they felt more happy with a Capital Loss than paying a Brokerage fee. Don't allow cheapness to destroy your chance at making a good wage trading, get help to combat cheapness, being a miser or Ebeneezer Scrooge, tell yourself "I am worth the best data their is, my account and I am are worth more it! Being Cheap only breeds more cheapness and the Market hate's cheap people!

" Repeat the mantra over and over and Xandman might get off the ground.
 
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I don't have a market sub to IB because I am using TOS's realtime data feed to chart. Based on the TOS charts, I set buy/sell entries/exits through IB and I get filled well. It almost seems useless to pay for market sub to IB when I'm basing all of my trades based on TOS charts and simply using IB as a broker.

I am currently paying about $4 round trip per contract through IB. Nothing to complain about. However based on more experienced traders, my question was should I just switch my broker to TdAmeritrade so I can trade through the platform itself.
 
The choice of platform is a very unique fit to your method of trading. Neither really excels for futures trading. And, I am being very nice.

If you find both equally effective, that would be very strange. So, go with the one that saves you the most money.
 
heavenskrow said:
I don't have a market sub to IB because I am using TOS's realtime data feed to chart.
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Just curious: without the data subscription at IB, does TWS still display the NBBO in real time or are you entering your orders blind?
 
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