Thanks for the clarification. Yeah, she confirmed we're pro. At least the pricing keeps the barrier to entry low for retail traders.

I do not recommend IB for scalping or day trading futures. I would look at NinjaTrader, AMP, and Tradovate for higher frequency trading and certainly Tradestation for system trading.

It sounds like you have some work to do in the simulator to fine tune your style. If you have the capital to overcome PDT, you might look at whether or not it makes sense to day trade options on the SPY to reduce risk.

chemfan76 

Need your help, been an equity trader for 10 yrs using TOS, going to futures now. : I plan to scalp the mini-DOW /YM at night (EST) and need advice. Considering IB as an . execution broker since TD is $$$, but not sure what the "All IN" pricing is for IB. My Concerns : I know Interactive Brokers charges 10$ inactivity fee, but how about Data ???? Do I need to pay for that if i use TWS for execution ???? I am particularly interested in the "iBOT voice interface for trading in TWS" On IB's site they say GLOBEX pricing for mini futures is .50$ per side, would this include YM at night ? another big concern : I can predict turning points in the Futures in the very short term, but not sure if the price will only go up 1 tick or maybe 20 ticks; what tool may help me decide to jump in or not ? I was considering Footprint, but have no experience with it,,,, ???? many thanks in advance.

vmodus 

Thanks for the clarification. Yeah, she confirmed we're pro. At least the pricing keeps the barrier to entry low for retail traders.

since most of data feeds belong to CME group, it's a bit of confusing as who supplies which feed. We non-pro don't have to worry about it tho.
https://www.cmegroup.com/trading/products/

chemfan76 

Need your help, been an equity trader for 10 yrs using TOS, going to futures now. : I plan to scalp the mini-DOW /YM at night (EST) and need advice. Considering IB as an . execution broker since TD is $$$, but not sure what the "All IN" pricing is for IB. My Concerns : I know Interactive Brokers charges 10$ inactivity fee, but how about Data ???? Do I need to pay for that if i use TWS for execution ???? I am particularly interested in the "iBOT voice interface for trading in TWS" On IB's site they say GLOBEX pricing for mini futures is .50$ per side, would this include YM at night ? another big concern : I can predict turning points in the Futures in the very short term, but not sure if the price will only go up 1 tick or maybe 20 ticks; what tool may help me decide to jump in or not ? I was considering Footprint, but have no experience with it,,,, ???? many thanks in advance.

No, you don't need live market data to trade.

Confirm.

I use IB + Sierra + their data.

I using it for daytrading futures (DOM) and still IB is cheapest for me, their commissions are so ultra low.

vmodus 

It is hella confusing IMHO, as I had the CME package and had to flip to the CBOT package. All I know is that I couldn't trade YM with the CME Real-Time Data Package #2. I think it is because YM still falls under CBOT, even though they are the same thing. Anyhow, YMMV.

CME own the CME, CBOT, COMEX and NYMEX but they are treated as separate exchanges with separate data fee costs. ES the S&P 500 eMini is a CME product. YM the Dow eMini is a CBOT product.

vmodus 

I believe so, but my partner would know for certain. All of our trading activity occurs within our LLC.

I believe trading in an entity requires you to pay professional data fees.

SMCJB 

CME own the CME, CBOT, COMEX and NYMEX but they are treated as separate exchanges with separate data fee costs. ES the S&P 500 eMini is a CME product. YM the Dow eMini is a CBOT product. I believe trading in an entity requires you to pay professional data fees.

I was just checking what I can trade on my subscription (CBOT):

• E-mini Dow
• E-mini Corn
• E-mini Wheat
• E-mini Soybean

$125/month just doesn't buy you what it used to.



~vmodus

vmodus 

I was just checking what I can trade on my subscription (CBOT): E-mini Dow E-mini Corn E-mini Wheat E-mini Soybean $125/month just doesn't buy you what it used to. ~vmodus

the best revenge is owning CME stock, make them work for you.

vmodus 

I was just checking what I can trade on my subscription (CBOT): E-mini Dow E-mini Corn E-mini Wheat E-mini Soybean $125/month just doesn't buy you what it used to.

Yes it gets very expensive quickly when they designate you to pay professional data fees.
To make things worse, if your not a member and don't have data netting, the fee is PER DEVICE. Its almost worth becoming a member just to get the data netting!
You probably also have access to the CBOT Interest Rate Futures (2,5,10,30) & Grain Futures (C, S, SM, SO, W) among others.

SMCJB 

You probably also have access to the CBOT Interest Rate Futures (2,5,10,30) & Grain Futures (C, S, SM, SO, W) among others.

Thanks! TradeStation does not make it terribly clear what is included in each subscription. They probably figure that I'm supposed to know, since I am a 'professional', but hey, I am still a new professional.