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Old 10-28-2009, 06:20 AM   #1 (permalink)
 
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ThinkOrSwim Day Trading


Hi everyone ,
I'm new on this site , so I will use this thread to present my self a little before asking my question...

I live in Belgium , near the Spa-Francorchamp racing track...

I'm an architect developer in .NET and I created my own (little) company 6 years ago...

About trading , I came to the belgian market something like 13 years ago...
In 1999 I opened accounts in US to day trade.
First with Datek Online and after with TradeCast...

I trade during a little more than one year , everyday...
At the end , I was trading 30 orders in avg per day and each for $20.000 between $30.000

I made lot of money , and lost some too and I stop because after one year , everyday , I wanted to do something else....

So , we're in 2009 , and I think it's time for me to be back

But I just want to trade futures , especially , the ES-mini...

I downloaded the apex Future platform last week , and the TOS platform yesterday...

I try both everydays in simulation and I have already very good results.

Two are very easy to use but it seems that TOS is a little more completed...
What do you think about that ?

Even if the commisions are a little more expensive at TOS , it seems it can be a good choice for me...

But , while I was creating my account , I saw this in the Disclosure :

Quote:
Day Trading Disclosure Statement
There is a $25,000 minimum equity requirement for pattern day traders.
A day trade is defined as the purchasing and selling of the same security on the same day. Under these rules, if a customer's margin account falls under $25,000 and the customer has day-traded three times within five days, the customer will not be allowed to open new positions until the $25,000 requirement is restored, or the five days has elapsed.
English is not my mother tongue , but if I understand well , I need $25000 to be allowed to day trade ?

I wanted to begin with something like $5.000 or $10.000 on my account and trade only one ES contract by order , using tight STOP's order...

I read on another thread here that TOS ask for $3500 to begin to trade...
That's mean it's not in day trading ?

Can you explain me the real need to day trade on futures market with TOS ?

Thanks for your answers

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Old 10-28-2009, 06:59 AM   #2 (permalink)
 
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pattern day trading rule applies to the stock market not futures market.

some other brokers to consider:

http://www.mirusfutures.com/onlinefu...injaTrader.htm

http://www.ampfutures.com/ninja_trader.php

http://www.pfgbest.com/platforms/

Those are well known brokers used by many traders.
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Old 10-28-2009, 07:50 AM   #3 (permalink)
 
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Thanks for the quick answer...

Very good news about the disclosure

I was hesiting between two brokers... You're giving me three more choice...

I will take a look on those too and try to find the best for me...
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Old 10-28-2009, 07:58 AM   #4 (permalink)
 
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Quote:
Originally Posted by Trumumflu View Post
Hi everyone ,
I'm new on this site , so I will use this thread to present my self a little before asking my question...

I live in Belgium , near the Spa-Francorchamp racing track...

I'm an architect developer in .NET and I created my own (little) company 6 years ago...

About trading , I came to the belgian market something like 13 years ago...
In 1999 I opened accounts in US to day trade.
First with Datek Online and after with TradeCast...

I trade during a little more than one year , everyday...
At the end , I was trading 30 orders in avg per day and each for $20.000 between $30.000

I made lot of money , and lost some too and I stop because after one year , everyday , I wanted to do something else....

So , we're in 2009 , and I think it's time for me to be back

But I just want to trade futures , especially , the ES-mini...

I downloaded the apex Future platform last week , and the TOS platform yesterday...

I try both everydays in simulation and I have already very good results.

Two are very easy to use but it seems that TOS is a little more completed...
What do you think about that ?

Even if the commisions are a little more expensive at TOS , it seems it can be a good choice for me...

But , while I was creating my account , I saw this in the Disclosure :



English is not my mother tongue , but if I understand well , I need $25000 to be allowed to day trade ?

I wanted to begin with something like $5.000 or $10.000 on my account and trade only one ES contract by order , using tight STOP's order...

I read on another thread here that TOS ask for $3500 to begin to trade...
That's mean it's not in day trading ?

Can you explain me the real need to day trade on futures market with TOS ?

Thanks for your answers
As you can see by my tag at the bottom. I use TOS. For me it is the best platform for the money. It's really not that complicated to use, you just need to play around with it and learn. You don't pay any additional fees for the very robust platform. All of your live feeds are free. And all of your accounts can be seperated or linked. The downside is that you have to pay full overnight margin for contracts unless you open an account with 15k or more. That's were the discount brokerages keep there advantage. I have an account with a dicount broker that offers me extremely low margins ($300 for trading S&P eminis) But I still prefer using TOS more. From a risk reward and psychological standpoint. Ideally, most people shouldn't be trading more than 1 contract per 8 to 10k in your account anyway. So the ow margin requirements is a non factor for me. JMO

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Old 10-28-2009, 08:06 AM   #5 (permalink)
 
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Thanks Ektrader...

To be honest , I wanted to open an account with Apex Future , but I came on this site and I saw the link to yours videos with TOS...

I must say that , I found the platform very nice in the videos , but above all , you're videos are really very usefull...

I looked all of them

I already knew a lot of things about technical analysis , but you give wonderfull tips...

Thank you
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Old 10-28-2009, 08:10 AM   #6 (permalink)
 
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Your're welcome!

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Old 10-28-2009, 11:50 AM   #7 (permalink)
 
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Daily High Daily Low


How do you chose a daily high and a daily low. Im not sure I understand when I see services that show these. How do they pick highs and lows? Thanks everyone!!!!
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Old 10-28-2009, 12:03 PM   #8 (permalink)
 
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One more question with TOS...

I see something strange...
I have a chart on /ES and I opened the Active Trader window...

the strange thing is that the value of the chart is not exactly the same than in the Active Trader... Sometimes .75 or even 1 point of difference

Is it because I'm still on paper money test ?

I put 2 stops at a bad level because of that... That's must not arrive with real account !
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Old 10-28-2009, 12:11 PM   #9 (permalink)
 
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hello Trum,

On ToS paper money there is a 20 min delay. unless you have a real money account with them.

hope that helps

~Sevinas
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Old 10-28-2009, 12:28 PM   #10 (permalink)
 
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I don't know why but comparing with an other platform , and with some web radios , it seems that TOS is in real time...

But even if there were a 20 min delay... All the windows should show the same value at the same time...
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