who is the best broker to use for scalping?

[jayjay121]

hi ive been learning to trade now for a few years now and nearly ready to trade (i hope), and which really appreciate all your thoughts on the points listed below:

1. Which software package(s) would be suitable for spotting real scalping opputunities
with the capabilities to back test a scalping system that im trying to devise?
2. Which broker would be suitable and the most competitive to use for scalping?, cause
obviously with scalping I will be potentially be putting on alot of trades in one day.
3. Would trading from home be overall less expensive than trading from an arcade in
scalping?
4. What in your opinions are the best markets to trade as a scalper ie: forex, nasdaq, ftse,
bobl etc, or will the software spot the best oppotunities?
5. As traders, is there any one book, dvd or trading course you could recommend to me that
will help me become a better scalper?


many thanks and really appreciate your opinions on which i have learnt so much from

 

[wEdUz]

how about MIG Investment SA

 

[dcraig1]

Which markets you want to trade must be a consideration in choosing a broker. However, http://www.interactivebrokers.com is hard to beat. Very large range of markets, including US, European, Japanese stocks and options, US, European, Japanese, Australian, Korean, Hong kong futures, spot forex and more. Reliable fast platform, good commissions, open and free API and many third party software products that interface to it. Probably the cheapest (or in some cases free) data feed around. All tradable from a single currency account. IMHO it is the benchmark for retail traders.

 

[hanzahar]

how about MIG Investment SA

i dont think MIG allow scalping

 

[maxtail]

i am trading with STIFX and i am doing scalp trading, no problem there. Its better to confirm again with there customer support. I am talking here about forex trading. dont know about other market.

 

[Paulds11]

Tools: the number one scalping tool on the planet is X_Trader.. but it costs around $500 pm. For charting use DTN/IQ if X_Study isnt yet included in the version. back testing your scalping ?? I think you mean you need a simulator and/or to papertrade..go direct to Trading Technologies and get access to the Simulator for a month

Fees watch out.. I refuse to pay more than $3 round turn. some companies offer X_Trader included, but this is false economy in the long run

I have no experience of being in an Arcade, my concerns are.. they will take a fee from you, why do that when you can do it yourself, prove your trading results and later go to them with credibility rather than as a newbie?.. youll be in a stronger position to leverage fees and prices if you want access to trading more funds. Upside though.. people to bounce off.. you may also pick up strategies..

Markets are down to you your taste for volatility, margin and liking for the world they immerse you (e.g. the type of nes that drives that market e.g. Energy markets (weather/wars/OPEC and oilrig news) (Boble (interst rates debt/german economic news)

Stick to Futures if you ask me on indexes like Stock indexes Energy/interest rates/currency & Eurodollar

Exchanges of interest are CBOT/CME/ICE/NYMEX/Eurex/Euronext LIFFE-Paris etc..

Books... as much as you can read..it will never stop.. only buy 4 or 5 star books from Amazon

Paul

hope you enjoy my accelerator...

 

[covered_call]

If you're a true scalper the broker / fcm make little difference. It's the software and gateways that make a difference. xtrader from tt is by far your best way to go

 

[ronblack]

It all depends on what you mean by "scalping" and your markets. There are platforms that specialize in different markets. But if by scalping you mean going for one cent profits in stock trades then there is no sense to try to backtest anything because your're dealing with noise basically.

Ron

 

[yari123]

market makers are definitely wrong choice for scalping. they wil complain and put you on manual, as i hear.

the best thing would be to go to at least a non desk dealers or a pure ECN solution. the latter is more difficult to get a hold of for retailers, especially if you lack programming language, its pretty hard.

 

[cu2]

IB tell me more, support stinks I heard

Which markets you want to trade must be a consideration in choosing a broker. However, http://www.interactivebrokers.com is hard to beat. QUOTE]

Was going to join them until I read the broker reviews from the website forexbasards.com which scared me off.

Then I saw a video on u tube showing how the forex*******s own a brokerage "king"something or other. forex*******s ajust the reveiws to suit themselves, eg. MB trading which there also addvertising on U tube.

I hate it how this whole thing is so criminal.

 

[Trader333]

IB are hard to beat. I have used them for futures, stocks and forex trading and had no real issues. I agree though that their support could be much better as it can take them a long time to address certain issues but not things like closing of trades etc.


Paul

 

[cu2]

IB are hard to beat. I have used them for futures, stocks and forex trading and had no real issues. I agree though that their support could be much better as it can take them a long time to address certain issues but not things like closing of trades etc.
Paul

How are they when you want to withdraw money?

What about this: A commission minimum of USD 2,000 (or equivalent) per month will be applied.
Also: IB will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits. So if I wanted to deposit 25,000 euro to open an account it would cost 250 euro, is that right?

Whats this? TWS or API Dedicated Line or Extranet USD 500 or FIX (CTCI) Internet USD 100
USD 500 one time setup charge

 

[Trader333]

I am unsure where you got the above but I have not experienced any of it. It doesn't cost you to deposit money and I have never incurred costs or had problems with withdraws either. If you are unsure it may be best to call them and discuss it directly.


Paul

 

[dcraig1]

How are they when you want to withdraw money?

What about this: A commission minimum of USD 2,000 (or equivalent) per month will be applied.
Also: IB will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits. So if I wanted to deposit 25,000 euro to open an account it would cost 250 euro, is that right?

Whats this? TWS or API Dedicated Line or Extranet USD 500 or FIX (CTCI) Internet USD 100
USD 500 one time setup charge

1. By "physical currency", they no doubt mean just that - a brown paper bag full of bank notes. There is no 1% fee on cheques, wire transfers etc.

2. For a normal account there is a min charge of $10 per month for US data. The charge does not apply if commission paid exceeds $30 for the month.

3. You will almost certainly not want FIX and a leased line. Normal TWS connection via the internet carries no such charges.

So the fees are $10 per month - waived if you do more $30 commission per month. Plus commission for whatever trades you make. There are fees for some other data services other than US equities/futures/options. These are optional.

 

[charliechan]

Tools: the number one scalping tool on the planet is X_Trader.. but it costs around $500 pm. For charting use DTN/IQ if X_Study isnt yet included in the version. back testing your scalping ?? I think you mean you need a simulator and/or to papertrade..go direct to Trading Technologies and get access to the Simulator for a month

Fees watch out.. I refuse to pay more than $3 round turn. some companies offer X_Trader included, but this is false economy in the long run

I have no experience of being in an Arcade, my concerns are.. they will take a fee from you, why do that when you can do it yourself, prove your trading results and later go to them with credibility rather than as a newbie?.. youll be in a stronger position to leverage fees and prices if you want access to trading more funds. Upside though.. people to bounce off.. you may also pick up strategies..

Markets are down to you your taste for volatility, margin and liking for the world they immerse you (e.g. the type of nes that drives that market e.g. Energy markets (weather/wars/OPEC and oilrig news) (Boble (interst rates debt/german economic news)

Stick to Futures if you ask me on indexes like Stock indexes Energy/interest rates/currency & Eurodollar

Exchanges of interest are CBOT/CME/ICE/NYMEX/Eurex/Euronext LIFFE-Paris etc..

Books... as much as you can read..it will never stop.. only buy 4 or 5 star books from Amazon

Paul

hope you enjoy my accelerator...

you're having a bubble!

x trader used to be #1, but these days, their arguement has fallen to bits. the speed is irrelevant as is md trader (imo) given the prevelance of black boxes, the support is dire, the reps tell you what ever they think will get your business, AND WHATS WORSE, IT DOESNT *UCKING WORK! especially now they have FORCED v7 on everyone.

there are other platforms out there that are way better imo. i hear pats have something to replace j-trader but cant remember what its called. i have heard good things about it though.

rant over. (although i agree dtn is the nuts for charting!)

as for brokers - personally i wouldnt touch ib for money. fine for the hobby trader though. go to man, or mgf as they are now called. they will give you a good rate.

 

[cu2]

Forex******s ? HINT

Which markets you want to trade must be a consideration in choosing a broker. However, http://www.interactivebrokers.com is hard to beat. QUOTE]

Was going to join them until I read the broker reviews from the website forexbasards.com which scared me off.

Then I saw a video on u tube showing how the forex*******s own a brokerage "king"something or other. forex*******s ajust the reveiws to suit themselves, eg. MB trading which there also addvertising on U tube.

I hate it how this whole thing is so criminal.

Swear words are not aloud and it is on AUTO. Now if you find that the word ******* is also changed to ******* then the word that should be above is in the first sentence which was wrongly spellt I left out the "T". O' well thats good I was beginning to think that the forex*******s.com had got to this forum aswell.

 

[SpreadBunny]

Swear words are not aloud and it is on AUTO. Now if you find that the word ******* is also changed to ******* then the word that should be above is in the first sentence which was wrongly spellt I left out the "T". O' well thats good I was beginning to think that the forex*******s.com had got to this forum aswell.

so what is *******?
I'm sorry but your message is totally cryptic and I am none the wiser :cheesy:

 

[fcole]

have you looked at a company futuresbetting.com. They have MD Trader not to disimilar to TT and Free squak... No charting package though. You can trade most main futures markets and there is no RTP costs as they are a spreadbetting firm. If you trade in enough size the spreads are less than a half a tick so in theory you can make money from 1 - 2 tick winners. Obvious advantages are there are no desk fees or commisions as it is all in the spread.

 

[anley]

Make sure you fully research just how much it costs you to trade and then add 25%. Assume you're going to be always paying the offer and selling the bid, plus add x for slippage and y for commissions. That's one tough nut to overcome.

Most scalpers paying non-arcade rates will struggle to make any money overtime because costs will eat into their profits. This is why so many fail because they think it's all to do with buying and selling at the right price, of course though that always helps

 

[Jerry Olson]

hi ive been learning to trade now for a few years now and nearly ready to trade (i hope), and which really appreciate all your thoughts on the points listed below:

1. Which software package(s) would be suitable for spotting real scalping opputunities
with the capabilities to back test a scalping system that im trying to devise?
2. Which broker would be suitable and the most competitive to use for scalping?, cause
obviously with scalping I will be potentially be putting on alot of trades in one day.
3. Would trading from home be overall less expensive than trading from an arcade in
scalping?
4. What in your opinions are the best markets to trade as a scalper ie: forex, nasdaq, ftse,
bobl etc, or will the software spot the best oppotunities?
5. As traders, is there any one book, dvd or trading course you could recommend to me that
will help me become a better scalper?


many thanks and really appreciate your opinions on which i have learnt so much from

Good Morning from the USA

There is only one daytrading platform for "true" scalping it's the Genesis Laser PLatform.

If you combine Esignal with Laser these are the finest tools of the trade so to speak.

Lightening fast executions with the click of a mouse. No typing in prices, stock symbols etc

I have a full time, real time Live trading room on the internet and would be happy to share the whole concept with anyone that wishes to partake in our trading room.

In fact when i was posting here in the UK on T2W a year or so ago, many traders opened accts with us at Genesis and are still daytradingt to this day

if anyone would like to have access to the room on Paltalk.com

just send me an e-mail to [email protected]

good luck all

jerry