Trading from home - saclping/intra day style, which company is best advice please!

[rocknrollstar]

Hello
I want to day trade from home but am unsure of the best platform/ company/clearers/brokers to go with.
I want to day trade the FTSE mainly scalping ticks and taking very short term positions. No overnight or long term position trades.
I want to do this from my home over internet - obviously my style of trading requires that I have a super fast connection to get in and out as fast as I can.
I am familiar with TTs X trader but no other platforms.
There are lots of companies out there but which is one best for me to start an account with for scalping style day trading from home.
I am worried that doing it via these broker style companies slows the process down too much as opposed to the arcades who have a direct feed to the exchanges.
I dont want to pay for a direct link to the excahnge so whats the best option??
1)Does anyone scalp, day trade from home ?
2) if so who is your account with?
3) do you have any speed access problems?
4) Can you compete with the guys in the arcades?
5) What about these so called black boxes, what are they?
6) what commission rates can I expect on round trips?
Sorry for so many questions!
Thanks in advance

 

[charliechan]

1)Does anyone scalp, day trade from home ?
2) if so who is your account with?
3) do you have any speed access problems?
4) Can you compete with the guys in the arcades?
5) What about these so called black boxes, what are they?
6) what commission rates can I expect on round trips?
Sorry for so many questions!
Thanks in advance

1/ not without a fixed line to your executing/clearing member
2/ uk? try fimat, marex, fortis, elite etc but not kyte
3/ you will without #1, unless you drop the scalping idea and go for position trading where imo the real money is due to #5
4/ yes - but most of them are having a hard time due to #5.
5/ computerised trading strategies, often located next to the exchange for low latency
6/ depends on your monthly volume. £0.25 to £2?? clearly costs will make or break you if you insist on scalping for a tick or 2.

as a side note, i'd forget x-trader. used to be good, but v7 is dire. people i know in the pro seats are moving off of x-trader and going to pats or ecco. i now use pats after also dropping x-trader. you feel like your downgrading, but it's simple, reliable, and it WORKS!

all jmo!

 

[shadowninja]

I can recommend IG Index. Their new system is pretty quick to fill. I think they make their money from minimum stops... eg EUR/USD forward is 54 which, if you've got a mental stop 15 points away and it gets close, can result with you giving more money away through poor discipline...

 

[DT]

I can recommend IG Index. Their new system is pretty quick to fill. I think they make their money from minimum stops... eg EUR/USD forward is 54 which, if you've got a mental stop 15 points away and it gets close, can result with you giving more money away through poor discipline...

I think you've misunderstood the original post a bit - as far as I'm aware IG doesn't act as either a broker or a clearer and would be completely unsuitable for scalping.

 

[shadowninja]

oh ok.

 

[G-ster]

hello
i'm a complete beginner and want to understand and trade option and or futures from home. can anyone recommend the best way of getting stared?

Thanks

 

[qkracer]

spend about three years, untold books to read, lose a couple of accounts...would get you warmed up

 

[maxima]

5/ computerised trading strategies, often located next to the exchange for low latency

who benefits from using it? where can I read about it?

Need to know your enemy

 

[ofurbaldur]

All you need is CQG for charting, X-Trader for entry.

You are fine using X-Trader over the internet or over VPN

If your broker is in US u have like 120-150ms delay, if your broker is in london 20-60ms, leased line 10ms

Arcades have leased line connection into their broker network which then connects to the exchange feed.

Even with leased line you are not close beeing first. The boxes hosted within the exchanges run by hedge funds are few ms away from the market. Then there are always resting orders that have been put into the market before you deside to scalp.

Regards

Baldur