Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Reaver

How much does you "trading rig" cost each month?

Recommended Posts

How much does it cost you each month to trade, as far as data, platform, etc?

 

I am on a longer term scale right now, but am thinking about getting more intraday as my finances allow once I quit my full time job...I am trying to get a basic concensus on how much I should set aside for monthly bottom line expenses.

 

 

Thanks for the info.

Share this post


Link to post
Share on other sites
How much does it cost you each month to trade, as far as data, platform, etc?

 

 

Data: I use interactive brokers. Data $10/month if I don't trade, otherwise just commissions which run $4.80 round trip. There may be other fees for other exchanges other than Globex or ECBOT.

 

Platform: charting software: Ensignsoftware which links to IB for data. $40.00/month

Front end for IB: zerolinetrader $70/year (yes that's for one year). Provides simple and effective DOM for one click trading including scale ins, scale outs and reversals.

 

Other than the computer itself, nothing else.

Share this post


Link to post
Share on other sites

I pay 50 bucks a month for my data plus exchange fees which I think racks up another 50-60 a month, InvestorRT for charting which is 40 bucks a month and commissions at 4.75 rt doing average 8-10 trades a week, so that'd be around 190 bucks a month for those.

 

All told around 330 a month. My internet is 30 bucks a month if you wanna count that in.

Share this post


Link to post
Share on other sites

Nate - if you decide to daytrade futures, an inexpensive way to get going is to trade through Open ECry. Reason being they will provide you all the data you could possibly want, free charts and free trading software. Normally I cringe at hearing 'free' but this is not bad at all, esp if you are looking to test the water. You can also take their data and plug it into other charting services, like Multicharts, if you want a more robust charting platform.

 

So, at OEC, outside of your normal brokerage commissions and internet cost, there's no other fees if you use all their stuff. If you add in Multicharts, that's a one-time up-front cost.

 

Not bad in my opinion as I have at one point paid $100+/mo for data and $500/mo for my trading platform and then the cost of a charting package as well.

Share this post


Link to post
Share on other sites

I did used to use them and for 40+ trades a month I used to get a check back for 40 bucks to cover my internet expense. That was pretty sweet. No one else I've ever come across does that.

Share this post


Link to post
Share on other sites

I agree Tin. That is pretty unheard of.

 

Brownsfan, thanks for the info. This may be naive, but is it possible to use MP and open ecry, as far as using them for data etc as you mentioned? I imagine I'd be able to plug the data into an application that supported MP, but I just wanted to ask. Thanks.

Share this post


Link to post
Share on other sites

No idea Nate as I don't use MP. As long as you plug the data into a charting package that supports what you need, I don't see why not. For example, on Multicharts I can run minute charts, volume based, etc. etc. even though you cannot run all of those specifically on OEC's built trading software.

Share this post


Link to post
Share on other sites

Thanks man I will check it out Brownsfan. Good idea. I am kind of dense when it comes to the needs of a day trader...but I would definitely like to give it a shot as finances allow to see if it suits me better. Thanks for helping out.

Share this post


Link to post
Share on other sites

So it seems Sierra Charts is a good direction to lean. Thanks for the info.

 

We should all sign a petition for TinGull and send it to Sierra charts to make it compatible with Macs. LOL

Share this post


Link to post
Share on other sites

NO kiddin!!! So, for those who use Sierra, here's a Q. When I trial'd it a few months back I found it very clunky. (yes I do use some windows progs on my Mac via parallels) What was the learning curve? The reason I ask is because I would really like to do some cost cutting of my rig. If I were to use the 33 dollar Sierra with my TransAct feed, my cost would be 33 bucks a month instead of almost 200 a month. SOOOO....with all the headaches that I would endure using Windows alone, do you feel the headaches learning to use Sierra as well are worth the cost savings? If I have to I will use the PC side of my Mac more often...it'll hurt, but I can do it.

 

Thanks

Share this post


Link to post
Share on other sites

Yeah it seems saving $150 a month would be very beneficial to the bottom line. I am anxious to hear the answer as well, simply because it helps me get a running start on it all.

 

Right now I am using SMR and Ensign (about to drop ensign though, it's sort of redundant for what I am using it for). I'd like to know what kind of curve I'll be looking at once I make the switch.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • ...hallucinates.... Student: “What if we gave the monkey LSD?” Guru: “The monkey already did LSD”
    • Question: To those that had/have cancer, what were the signs that made you think “something is not right here” to make you go see a doctor? Answer: So, 5/25/2018, I woke up, got ready for work, and as I walked to my car, I started gagging. Like something was stuck in my throat and I needed to clear it. And then it went away.   But 10 minutes after that, I was T-boned at 40mph on the driver side door. But what made me see a doctor was while my muscles felt better and bruises were going away, the gagging still continued, I started having fevers, my neck felt swollen, I was having such a hard time breathing, and I'd have random sharp pains in my chest, but not from where the seat belt saved me.   2 weeks after the accident, I finally see an urgent care doctor, who looks me over, tells me I'm fine, but luckily requests a neck X-ray. And I ask for a chest X-ray, which he rolls his eyes but let me have (most of my pain was in the neck, so I understand).   The very next day, he calls and says “So, that chest X-ray shows there's a 4 inch mass on your heart and lungs, and your lungs have been filling up with fluid, as well as in your pericardial (heart) wall. We need you to come in tomorrow.”   Turns out the big mass, due to the accident, caused my heart and lungs to tear and fill with fluid, the swollen neck and gagging was caused by 2 metastasized tumors, and the fevers and weight loss were symptoms. Stage 4b Hodgkin's Lymphoma.   But thankfully, we went very aggressive with chemo (and had a lot of bad side effects that don't normally happen to patients), and now I'm about 16 months cancer-free. Yay lucky X-rays! Rachel Jurina, Quora Source: https://www.quora.com/To-those-that-had-have-cancer-what-were-the-signs-that-made-you-think-something-is-not-right-here-to-make-you-go-see-a-doctor   Profits from free accurate cryptos signals: https://www.predictmag.com/  
    • As a man, the reality of life is the harshest part. I don’t mind looking older or becoming weaker over time; it’s nature.   Have you ever heard that the only people who will be loved unconditionally are women and children? Men will only be loved as long as they can provide until they are no longer needed. It doesn’t matter if you already did your best to get your kids to the best school or get the best things for them, if you stop before they’re done with it, there will be no thank you. The only thing they will remember is that they have to quit school at 15, ignoring all the previous 15 years of life you provided for them. The only people who will accept you, no matter what, are your parents. But in this situation, you might be that ungrateful child.   EDIT: Wow, I didn’t think this would get so much attention.   For those who disagree, I can only say that everyone has their problem. If you don’t get the chance to face such a thing, be grateful. Remember, sometimes what you throw in the garbage is something that someone wishes ever to have.” – ElZee, Quora   Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • The good thing i had noticed so far is that the traderpot value is also on the rise..
    • yup its a gradual rollout the right way in my opinion, its really good and its exciting for the sto in 2027
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.