Direct Access Elite

[Saul]

I have just downloaded DAE & waiting for the username etc to allow me to trial their platform for free. You wouldn't want 2 B in a hurry!

Anyway, my question to anyone who uses DAE is:

1) Can you 'Pop-out' of the screen to enable multi monitor use?

2) Can you use Fib Retracement overlays?

3) What is your overall view of this software?

I have just cancelled esignal & I'm looking for a good direct access platform that is good for level2.

 

[TheBramble]

I'm using the DAE demo just to get a feel for LII so I can't help on the multi-monitor or Fib issues.

For a relative newbie (to LII) it looks good, but consensus (on t2w anyway) seems to point to IB as the broker and quotertracker, tradestation, realtick or IQ for charting.

 

[Rubicon River]

Its got fibs. Right click in a chart for that.
Also nice drag-and-drop feature - click on a quote and drop on a chart or L2 screen.
In dem mode its got a good paper trading L2 simulator. I think it resets each day.

 

[Naz]

I use DAE for trading.I like being able to include and exclude all the mm and ecn books in the screen so at times i can cut the noise out and drill down to any unusual goings on.

Including the three major ecn books and excluding the market makers makes it easier to trade pre and post market activity.

Having traded numerous NL2 screens its not bad.I just wish they'd structure the execution fees to ib's or tradestation's.

For charting i use tradestation and dont take any notice of DAE elites charts.I'll only use them to view pre and post market trading.

Here's a screen shot for anyone who wants to see what it looks like.

 

[Naz]

Since the above post i've been alerted by the company to tell me about a new EU rate that they're going to let traders have over here from Feb 1st.

This rate means trading 1000 shares will be cheaper than ib and tradestation. All you've got to do is ask for it.

They call it the EU rate.Its $6 up to 1000 shares.

 

[Saul]

So are you saying it may be better to have a direct access with DAE rather than IB or TS etc.?

 

[longshot99]

That's brilliant.

Thanks for the helpful information Naz.

Dave

 

[Naz]

The DAE platform in my opinion is a better all round platform than the cheap ones that you just view.Its very flexible with the things that you can do with it. The big problem has been the fees.

The new EU fees of a flat $6 are great for those trading 500-1000 shares and just a little more expensive for the ib people paying slightly less for a few hundred shares.

However the trading platform is where the edge is.There is a great hot key section (found under set up when the level 2 screen is highlighted) This is a very comprehensive section.

 

[Saul]

Naz,

Do you know if it is possible to subscribe to DAE's platform without having an account with them so that I can paper trade.
Also, can I trade their platform with an IB account ?

 

[Saul]

I have found out that I can open a DAE account with $1000 so that I can subscribe to their demo trading platform which will allow me to paper trade until I'm ready 2 trade 4 real.
I would obviously have 2 augment my account to the Nasdaq rules, but it will give me valuable experience without losing my own money whilst I'm growing my account.
The true benefit of this is that I'm actually placing orders, albeit dummy ones, but the platform doesn't let you cheat.

I'm just trying to get to grips with filling in the paperwork to open the account.

I just thought I'd mention that an account can be set up for $1000

 

[Saul]

The monthly fee to paertrade DAE platform is $!!".85 inc taxes. They also mentioned that the account may incur quarterly inactivity fees.

 

[keano]

$!!".85 inc taxes??

With the $1000 A/C you can trade stocks, but are limited by the PDT rules i take it.

 

[Saul]

Sorry $112.85

 

[Saul]

Yes I believe so. They siad I could swing trade to my heart's content as long as I carry the trade overnight.

 

[TheBramble]

You can p-trade a demo account with DAE without needing to open an account or place funds with them.

 

[Saul]

I am currently doing this, but they only let u do it for 10 days

 

[dclinton]

1) Can you 'Pop-out' of the screen to enable multi monitor use?

Yes, when you exit tick the box that says 'Restart with free floating windows'. Doesn't seem you can pop them in and out during a session, though.

I've spent my first day practicing with a demo account on DAE. It's the first direct access platform I've tried and it seems pretty good. I especially like the trailing stops.

Doug