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Not at all Rupkali - I wasn't having a go at you. I am just puzzled that some people are being quoted considerably higher prices than what I pay - that's all...
So, my set up...........
Primary trading/execution platform: CQG QTrader
Secondary platform (mainly used for charting and Jigsaw): NinjaTrader
Add-ons: just Jigsaw
Data feeds: CQG for QTrader / Continuum (which is another name for CQG) for NinjaTrader
So in reality I pay 15 USD twice for CME fees, but that's my choice. People using only one platform (e.g. NT) don't need to.
For the moment I will just use on sim until I get use to the platform and some of the new tools - DOM - and to get live data for currency futures appears to be $7 per month. Then I can add Jigsaw as a plug in.
Not sure if you're aware of NT platform version types. You can't see your position in the chart in free version, the lease is about $60/month if you want to show your trades there. If you open your brokerage w/ them w/ the free version it's about plus minus $.5 more than the lease version for the execution fee RT.
As for jigsaw, if you don't care about charting and decided jigsaw is for you, maybe something to think about is getting direct execution subscription from jigsaw itself (than going back and forward from jigsaw to regular dom), which is cheaper than monthly NT monthly lease. And of course where you open your account matters too (check jigsaw on this) but that's another discussion.
I have heard this quite often recommended for people starting out just because the trade risk of a forex trade can be so much lower. With the 6E future the minimum price movement is $6.25 a tick. (I don't know why the minimum movement in forex is in Pips, but in futures it is in Ticks). Also futures have only recently added the fifth decimal place to some currencies. In the 6E a move from 1.00010 to 1.00020 is two ticks so a tick is 0.00005. If I remember correctly the forex market could trade any of the ten 0.00001 increments inbetween the 4th decimal place levels.
Because of modern computerised trading related instruments all tend to stay very much in line with each other so the 6E and the EURUSD will very closely match each other pretty much to the tick. So a tick chart or graph overlayed should look the same. But you will notice that the scale or price will be slightly different. (I think this is something to do with cost of carry and expiration of contracts and rollover but it is another thing I am vague about).
If you were watching futures traded volume and orderflow for instance it would be easy to see a signal you like on the futures contract and immediately enter in the spot market, but if wanting to place pending limit orders or stops at other levels you wouldn't just take the entry price off a futures chart and use the same price for your spot market order with out adjusting for the offset in price. As mentioned earlier the price offset will basically be the same all day, but it will change a little day by day as the current front month, or most heavily traded contract; gets closer to expiration and rollover.
Just a couple of thoughts on the practicalities of mixing spot and futures currencies.
Ideally what I want to do is trade from my spot Forex platform but have Jigsaw for the DOM, cumulative delta tools.
A significant advantage is that in the UK Forex can be traded via spread betting platforms and profits are tax free.
I understand I can get the stand alone Jigsaw Rapid Trader Pro and therefore Jig Rapid Trader Pro + my Forex platform is the ideal combination.
The challenge - what would be the most economical way to get the data feed for Jigsaw Rapid Trader Pro?
My limited understanding of Futures (futures currency) is that I have to have a brokerage account in order to get the discounted data feed for CME currencies Futures.
Thanks again for your time and help. cheers, rupkali.
So far, I am trading via price action - though still in sim.
I set things up through Stage 5 Trading. Everything was taken care of. I have a brokerage account, data, and basic charting software. I only pay $5 for data for CME. If I need to later I can expand to other platforms - Multicharts, Sierra, or Investor RT to name a few. Going with the guys at Stage 5 made things a breeze. I had one longer initial call where all my concerns were addressed. There is zero pressure from these guys.
Also, I get an active community with Stage 5, which has proven advantageous in keeping me focused and being more professional so I am treating my trading like a business.
Also, the Stage 5 platform (S5 Trader) supports Jigsaw - no problems there either.
Peter Davies, Founder of Jigsaw Trading, will be monitoring this thread so that he may answer any questions that you post here relating to Jigsaw Trading products and services.
Please keep in mind that some customer service/technical support issues …
), but the other option is you pay a data provider just for the data to run Jigsaw as you say. There are two options I am aware of for that:
Doing a quick add up of fees though you are looking at about $200/month for DTN and $150 for Kinetick. Those sort of monthly fees soon get expensive if you are only making small amounts on forex.