[twentyone]

in currencies, mt4 seems like the more popular choice for trading, what about futures? is there any demo account?

[TheNegotiator]

It's very easy to get started with Ninjatrader. I think you should be able to take a 1 month free trial with a broker which will give you live data.

[mj_07_nc]

The best bet, in my opinion, for getting up and running with futures is thinkorswim (TOS) which is now owned by TDAmeritrade. I don't think that thinkorswim is the best platform for an experienced futures trader who is profitable but you can't beat it to get started.

What makes it so great for a beginner is the following:

1) It's free, including all data for all of the futures exchanges. This would cost you up to $200 a month if you had to set up a datafeed with another broker.

2) You can set up an account at TDAmeritrade online in 5 minutes and get access to the TOS platform without funding your account. They give you the ability to demo the software for as long as you like...without having to deposit a dime.

3) The TOS platform has all the bells and whistles of the best futures trading platforms inlcuding sophisticated charting and a DOM for order entry.

Take a look and see what you think. Paper trade with TOS for awhile and get a feel for the market. If you are making money then I would consider looking at the following combination for a futures trading platform:

1) Market Delta or IRT Charting software (these two charting platforms are identical except that MarketDelta gives you something called a footprint chart which is just an added feature. IRT costs $50 to $70 a month and MarektDelta is anywhere from $100 to $200 depending on the features you want.

2) IQFeed for your historical data. Futures data costs $83 per month and you avoid exchange data fees if you set up an account with one of IQFeeds partner brokers.

3) Infinity Futures for your broker. They have low margins ($500 per Emini contract, although I don't recommend using anywhere near that amount of margin) and a good DOM order entry system. Also, their commissions are reasonable on the retail side...about $5.00 per round turn.

I currently use the above setup...MarketDelta for my charting, data from IQFeed and brokerage services with Infinity. I love it. However, if I was just starting to learn the market, there is no way I would go with anything other than thinkorswim. All in I pay $225per month for my setup. You can do the same thing at thinkorswim for free and don't even need to fund an account to demo their software and papertrade. Let me know if you have any questions.

Mike

[xioxxio]

It all depends on what you are going to do, the style of trading. Are you going to build strategies what level of programming experience do you have. I don'd think there is a best system.

Also consider brokers, make sure your broker is compatible with the software you are using.

[brownsfan019]

There are plenty of futures brokers that's for sure. Make sure you get a demo of any software you are considering. I personally use Open Ecry and we have a little support area right here on TL for them. With OEC you will get free data to just about any market you might want to look at and a free platform, which is very nice IMO. The platform comes with charts and DOM to enter orders. If you need more than the standard OEC charts, you can take that data and plug into other platforms too, so at least save the cost of data.

Just make sure you demo a few platforms and whatever you settle on, get to know the order entry methods so there's no questions when real $ is on the line.

[Tams]

Originally Posted by twentyone »

in currencies, mt4 seems like the more popular choice for trading, what about futures? is there any demo account?

anything but OEC is ok.

[brownsfan019]

Originally Posted by Tams »

anything but OEC is ok.

Lol Tams. You have an actual reason for that?

Too funny, some people around this place.

Go ahead an EXPLAIN why OEC is not good. I'd love to see you actually explain this w/ facts. Or we can just pretend like I didn't ask this question and you can keep just following me around.

[SpearPointTrader]

I have to use IraChart because that is all my broker offers. It's a great system, however there are a few features it lacks. For example, the basic live feed does not have unlimited charts.

I also use a cheaper delayed data charting system from E-signal, which I think is awesome for my initial searches. It has unlimited charts, and allows me to store charts with good looking set ups in a favorites folder to open later; in order to perform a deeper study.

E-signal has a live streaming version as well, that seems to work with every broker but mine. I'd use it as a single platform if I could.