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Looking for broker supporting Sierra Chart Teton Futures Order Routing


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Looking for broker supporting Sierra Chart Teton Futures Order Routing

  #21 (permalink)
 Futures Operator 
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
Posts: 601 since Nov 2010
Thanks Given: 2,039
Thanks Received: 258


SafruAI View Post
until now, there are some who support daily loss limit + max number of contract per ticker. daily drawdown limit seems not to be offered..

@SafruAI What would the difference be in daily loss limit vs daily drawdown limit?

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  #22 (permalink)
 SafruAI 
Bingen
 
Platform: Sierra
Posts: 31 since Jun 2019
Thanks Given: 25
Thanks Received: 26


Futures Operator View Post
@SafruAI What would the difference be in daily loss limit vs daily drawdown limit?

a daily loss limit is defined as an absolute net loss per day. a drawdown limit is a limit based on your running equity peak. assuming your drawdown limit is 500. if you win 800 first, your draw down limit now is 300.

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  #23 (permalink)
 Futures Operator 
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
Posts: 601 since Nov 2010
Thanks Given: 2,039
Thanks Received: 258



SafruAI View Post
a daily loss limit is defined as an absolute net loss per day. a drawdown limit is a limit based on your running equity peak. assuming your drawdown limit is 500. if you win 800 first, your draw down limit now is 300.

Loss limit is supported server side in Teton so all Teton brokers should support it: https://www.sierrachart.com/index.php?page=doc/SierraChartDirectOrderRoutingService.php

Drawdown limit may be complicated/involved for FCM side to implement themselves on an account basis. However Sierra was planning on building this Profit Management into Teton at some point:

https://www.sierrachart.com/SupportBoard.php?ThreadID=70309&Page=Last

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  #24 (permalink)
 bmilesdc 
Waycross , Georgia
 
Experience: Intermediate
Platform: NT,TV,Jigsaw
Trading: Futures
Posts: 1 since Jun 2023
Thanks Given: 1
Thanks Received: 0

I'm gonna have to agree with you on AMPfutures. Everybody said they were "really great". Since ive been using them I've not seen "good" let alone "great" Hence why I'm here looking for a replacement as well. Please let me know what you find...

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  #25 (permalink)
 acc283158 
Lakeland, FL
 
Experience: Beginner
Platform: Quantower
Trading: Futures
Posts: 3 since Mar 2023
Thanks Given: 0
Thanks Received: 1

RE:

I recently had the same questions but found that in sierra you can set daily loss limits and account lock for trading. You don't need to rely on a broker for what you want. There is already a tool for that or someone has already invented it. If there is none. Try and find a way to get it or make it. It's what's makes us better every day. You're on the right track. I had been there not to long ago.





SafruAI View Post
Hello,

I use SierraChart as trading platform.

Currently I use AMP as a broker. Since they do not offer Sierra Chart Teton Futures Order Routing (https://www.sierrachart.com/index.php?page=doc/SierraChartDirectOrderRoutingService.php), I plan to choose another one.

Absence of not offering Sierra Chart Teton Futures Order Routing, I am not completely satisfied with AMP services. I am disturbed by following points:

- Incomprehensible Trading Statement
- Weak Customer Service Platform
- Insufficient tools to implement risk management limits at broker level (daily risk limit, max. number of contracts) + difficult to monitor risk limits --> Actually you have to chat with customer help desk in order to implement limits.

My desired broker would offer following services:

- Clear and easy to understand Trading Statement
- wide variety of risk managment tools, which can be implemented at a broker level comparable to tools prop firms use (daily risk limit, daily draw down limit, max. number of contracts per ticker, ...) + comfortable way to implement and monitor risk limits.

Who can say anything about those dersired services offered by following brokers (which offer SC Teton):

Stage 5 Trading (Broker)
Edge Clear (Broker)
Ironbeam (Clearing firm)
Trade Pro Futures (Broker)
AGN Futures (Broker)
Canon Trading (Broker)
Sweet Futures (Broker)
DeepDiscountTrading (Broker)
Optimus Futures (Broker)
Advantage Futures (Clearing firm)
Dorman Trading (Clearing firm)
Phillip Capital (Clearing firm)

thanks in advance.


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  #26 (permalink)
 Liberty88 
Chicago, USA
 
Experience: Intermediate
Platform: Ninja. trying Sierra...
Broker: Ninja, Stage 5 for Sierra
Trading: Futures: ES, CL, GC
Posts: 41 since Nov 2021
Thanks Given: 11
Thanks Received: 46

Regarding AMP Futures (which is both an Introducing Broker and its own FCM), it seems to me one of the most appealing features is AMP's very low margins for day trading. Most other Introducing Brokers have considerably higher margins.

I was considering opening an account with AMP primarily for this reason.

This year 2023 I've seen some Introducing Brokers greatly increase their margins during major scheduled economic data news events. Some brokers have increased to the full exchange initial margin (overnight margin) about $12,000 for a single ES contract - during these scheduled economic data news events.

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  #27 (permalink)
 acc283158 
Lakeland, FL
 
Experience: Beginner
Platform: Quantower
Trading: Futures
Posts: 3 since Mar 2023
Thanks Given: 0
Thanks Received: 1

Re:

When I started, the little money that I had I used it at Iron beam. I wasn't well educated at the time whereas I found out the hard way they were charging me 1.20++ per side on the micro products. Ultimately was not profitable since my gains were wiped out by the commissions at maybe 15-20 trades a day.

Trying now forex with IG markets as an experiment. But ultimately took all money out and put it in Amp, also opened with Edge clear.




SafruAI View Post
Hello,

I use SierraChart as trading platform.

Currently I use AMP as a broker. Since they do not offer Sierra Chart Teton Futures Order Routing (https://www.sierrachart.com/index.php?page=doc/SierraChartDirectOrderRoutingService.php), I plan to choose another one.

Absence of not offering Sierra Chart Teton Futures Order Routing, I am not completely satisfied with AMP services. I am disturbed by following points:

- Incomprehensible Trading Statement
- Weak Customer Service Platform
- Insufficient tools to implement risk management limits at broker level (daily risk limit, max. number of contracts) + difficult to monitor risk limits --> Actually you have to chat with customer help desk in order to implement limits.

My desired broker would offer following services:

- Clear and easy to understand Trading Statement
- wide variety of risk managment tools, which can be implemented at a broker level comparable to tools prop firms use (daily risk limit, daily draw down limit, max. number of contracts per ticker, ...) + comfortable way to implement and monitor risk limits.

Who can say anything about those dersired services offered by following brokers (which offer SC Teton):

Stage 5 Trading (Broker)
Edge Clear (Broker)
Ironbeam (Clearing firm)
Trade Pro Futures (Broker)
AGN Futures (Broker)
Canon Trading (Broker)
Sweet Futures (Broker)
DeepDiscountTrading (Broker)
Optimus Futures (Broker)
Advantage Futures (Clearing firm)
Dorman Trading (Clearing firm)
Phillip Capital (Clearing firm)

thanks in advance.


Liberty88 View Post
Regarding AMP Futures (which is both an Introducing Broker and its own FCM), it seems to me one of the most appealing features is AMP's very low margins for day trading. Most other Introducing Brokers have considerably higher margins.

I was considering opening an account with AMP primarily for this reason.

This year 2023 I've seen some Introducing Brokers greatly increase their margins during major scheduled economic data news events. Some brokers have increased to the full exchange initial margin (overnight margin) about $12,000 for a single ES contract - during these scheduled economic data news events.


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Last Updated on July 2, 2023


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