Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I come from the Forex world and have only recently started to look into trading Futures.
I'd be interested in supplementing my Forex day trading with scalping Futures via DOM.
I am kind of shocked at what seems to be the cost of a setup to get started here compared to FX.
If your definition of scalping is carving out some points (i.e. you are entering positions
with ex ante targets below 1/3 to 1/2 of the average daily range), your entry calculation
is in a realistic range - IT and slippage/unfilled limit orders aside. The RT and software costs
depend heavily on your number of traded contracts and the broker that you choose.
If your definition of scalping is cutting some ticks out of small moves within e.g. the
average daily noise of the ES, you are regularly competing with HFT systems. You normally
can add multiples of your costs e.g. for collocation and (semi-)automated trading (or just get
eaten alive trying to enter this fight manually).
Thanks for your input!
So you are using Jigsaw with the free NinjaTrader for your analysis and place your orders over another platform with your broker, if I understand you correctly?
Do you use the same data feed for both? Can you react quickly enough if you're working 2 different platforms simultaneously?
Yes, correct. I use NT/Jigsaw for charting/analysis mainly and then my execution platform is CQG.
Unfortunately I can't use the same data feed and I have to pay for 2 different data feeds
As for reaction times, yes, it's a matter of reacting quickly especially at the beginning when micromanaging a position. What I do on occasion is putting the Jigsaw DOM side by side to the CQG DOM.
It does thanks!
One more question though about the 2 feeds. Are they always in sync? Did you ever have any problems with this setup because of using 2 platforms and 2 feeds?
Yes, they are and must be always in sync. CQG generally is a faster platform than NT so you may see a change happening on that platform a fraction of a second before you see it on NT, but the general principle is they are in sync.
When they aren't, it means there is a data/connection issue.
Idea:
1) use free ninjatrader
2) split cost of jigsaw with a friend (2 keys for $400)
3) don't pay the $50 a month for the jigsaw thing. You can very easily just keep the ninja dom behind your jigsaw dom on your screen. Is it really a necessity to be able to execute orders from jigsaw?
4) trade something with great commission/tick value ratio, ie UB ZB.