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DeepDiscountTrading Broker
Started:July 12th, 2010 (06:57 PM) by sam028 Views / Replies:43,399 / 268
Last Reply:10 Hours Ago (12:43 PM) Attachments:4

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DeepDiscountTrading Broker

Old December 25th, 2010, 11:04 AM   #41 (permalink)
Elite Member
Springfield,Missouri, USA
 
Trading Experience: Advanced
Platform: NinjaTrader (It's a love/hate relationship)
Favorite Instrument: CL, TF, 6E
 
Slipknot511's Avatar
 
Posts: 176 since May 2010
Thanks: 60 given, 294 received

By default, the Static DOM will be enabled. You will not be able to place any trades, chart trader or DOM, unless you purchase credits. If you do not want to purchase credits, you need to contact NinjaTrader support and ask them to disable the Static DOM. Then you will be able place trades with the chart trader. I do not know about the dynamic DOM as I never use it.
If you try to place a trade before doing all this, you'll just get an error message. Unfortunately, you can't have an in-between where you have credits and only pay them when you actually use the Static DOM. It's all or nothing. The option to use/not use the Static DOM can only be set through NT Support, not through your local preferences.

It seems like a lot of hassle with DDT, but trust me, these fees are built into all the other brokers also. At least with DDT, you have the choice to opt-out of some of the extra charges. Everything is transparent. Some of the other brokers who offer "free" NinjaTrader will not reduce your commissions even if you already have your own license. So you end up paying for NT twice.

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Old December 28th, 2010, 06:08 PM   #42 (permalink)
Elite Member
VT, USA
 
Trading Experience: Beginner
Platform: NinjaTrader, AmiBroker, IB TWS
Broker/Data: Mirus/Zen-Fire, IB
Favorite Instrument: ES
 
Posts: 20 since Oct 2010
Thanks: 4 given, 4 received

Hi, so just to clarify, checking the commission schedule, it is 3.32 R/T for the eminis and an additional .10 per side using NT from the platform page, bringing it to 3.42 R/T. Then we have to add the .10 per side TT credits and so it comes out to 3.62 R/T. Am I right? It's still a good deal if that's the case, but I'd just like to clarify. Also, would it be cheaper if I don't go with their datafeed? I've been thinking about getting DTNIQ for the internals.

Thanks!

p.s. what do you mean by "Some of the other brokers who offer "free" NinjaTrader will not reduce your commissions even if you already have your own license. So you end up paying for NT twice." ?

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Old December 29th, 2010, 07:06 AM   #43 (permalink)
Elite Member
Berlin Germany /Alicante Spain
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: DDT/TT, Global/CQG, IB, Mirus/MarketDelta
Favorite Instrument: Futures
 
Posts: 82 since Jan 2010
Thanks: 128 given, 29 received



hoeman View Post
Hi, so just to clarify, checking the commission schedule, it is 3.32 R/T for the eminis and an additional .10 per side using NT from the platform page, bringing it to 3.42 R/T. Then we have to add the .10 per side TT credits and so it comes out to 3.62 R/T. Am I right? It's still a good deal if that's the case, but I'd just like to clarify. Also, would it be cheaper if I don't go with their datafeed? I've been thinking about getting DTNIQ for the internals.

Thanks!

p.s. what do you mean by "Some of the other brokers who offer "free" NinjaTrader will not reduce your commissions even if you already have your own license. So you end up paying for NT twice." ?

I understood that commision is 3.32 RT + 0.05 each side using NT so 3.42 alltogether.
If you use e.g. Mirus / NT you donīt get price change if you own NT or not - but if you have own license you can use ATM / DOM / Chart trader included if you have not purchased or leased you cannot make any ATMīs.

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Old December 29th, 2010, 10:30 AM   #44 (permalink)
Elite Member
VT, USA
 
Trading Experience: Beginner
Platform: NinjaTrader, AmiBroker, IB TWS
Broker/Data: Mirus/Zen-Fire, IB
Favorite Instrument: ES
 
Posts: 20 since Oct 2010
Thanks: 4 given, 4 received


Slipknot511 View Post
I pay $3.50 RT for the ES. $2.14 for T-Notes.

@Slipknot511 Hi, I just contacted Howard to open an account with them and my commissions came up to 3.62 R/T for the ES. How did you get 3.50?

ES = $1.66 per side

NT = .05 cents per side (For "Chart Trader" or "Dynamic SuperDom")

TT = .10 cents per side additional (For "Static SuperDom" thru TT credits on Ninja website)

Grand Total = $1.81 per side (or $3.62 RT) + $60 monthly if you lease Ninja (or $0 monthly if you own the Ninja Lifetime License).

The only way it makes sense that you have 3.5 R/T is that you didn't pay the .05 per side for Chart Trader or Dynamic SuperDOM, and before the 0.01 per side increase for NFA fees, so you got 1.65 per side + .10 per side = 1.75 per side = 3.5 R/T.

No doubt 3.62 is still a great commission and I'm definitely going with them, but I'm wondering if I can get it down to 3.52.

Also, what margins do you have trading the ES? Is your margin structure the same as Mirus, including the time-frame the day-trade margin is in effect?

Thanks Slipknot511!

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Old December 29th, 2010, 10:52 AM   #45 (permalink)
Market Wizard
Honolulu, Hawaii
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: ATC/TT, AMP/Zen-Fire, AMP/CQG
Favorite Instrument: TF
 
bluemele's Avatar
 
Posts: 2,547 since Jun 2010
Thanks: 3,806 given, 2,748 received


hoeman View Post
@Slipknot511 Hi, I just contacted Howard to open an account with them and my commissions came up to 3.62 R/T for the ES. How did you get 3.50?

ES = $1.66 per side

NT = .05 cents per side (For "Chart Trader" or "Dynamic SuperDom")

TT = .10 cents per side additional (For "Static SuperDom" thru TT credits on Ninja website)

Grand Total = $1.81 per side (or $3.62 RT) + $60 monthly if you lease Ninja (or $0 monthly if you own the Ninja Lifetime License).

The only way it makes sense that you have 3.5 R/T is that you didn't pay the .05 per side for Chart Trader or Dynamic SuperDOM, and before the 0.01 per side increase for NFA fees, so you got 1.65 per side + .10 per side = 1.75 per side = 3.5 R/T.

No doubt 3.62 is still a great commission and I'm definitely going with them, but I'm wondering if I can get it down to 3.52.

Also, what margins do you have trading the ES? Is your margin structure the same as Mirus, including the time-frame the day-trade margin is in effect?

Thanks Slipknot511!

You save about 1.00 over the other typical brokers per R/T.

Take 6 trades per day at 3 contracts @ 16 days and it is a savings of: 288.00 per month roughly

Nice to have an extra 288.00 no doubt, but not that big of a deal to me in savings unless I either trade more contracts or taking a lot more trades in a month.

Thanks for the info and will keep an eye out when I start trading more contracts again.

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Old December 29th, 2010, 10:54 AM   #46 (permalink)
Administrator: 'da Big Dawg
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Instrument: SP500, Stocks
 
Big Mike's Avatar
 
Posts: 31,185 since Jun 2009
Thanks: 20,749 given, 38,166 received

Was just checking out of curiosity: Velocity is @ 3.60/rt for level 1 commissions on ES if you have your own NT license.

But you should pick your broker on a number of factors, naturally, I was just curious to see how the price compared.

Mike

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Old December 29th, 2010, 11:12 AM   #47 (permalink)
Elite Member
VT, USA
 
Trading Experience: Beginner
Platform: NinjaTrader, AmiBroker, IB TWS
Broker/Data: Mirus/Zen-Fire, IB
Favorite Instrument: ES
 
Posts: 20 since Oct 2010
Thanks: 4 given, 4 received


Big Mike View Post
Was just checking out of curiosity: Velocity is @ 3.60/rt for level 1 commissions on ES if you have your own NT license.

But you should pick your broker on a number of factors, naturally, I was just curious to see how the price compared.

Mike

@Big Mike

This is strange, I just spoke to live chat at Velocity and this is what I got

Operator 4 says:
Hello JH. My name is Operator 4 how can I help you?
JH says:
Hi, I have a question about commissions with NT
Operator 4 says:
sure
JH says:
So level 1 commission is 3.80 R/T with NT for ES
JH says:
and I have read elsewhere that if you have your own license, level 1 is 3.60 R/T
JH says:
now my question is that does that mean if I don't have my own license, NT will be leased to me and I will have to pay 3.80 R/T? Is that NT the full version?
JH says:
or is it 3.80 R/T for NT Direct Live which lacks all ATM functionality and a lot of other goodies.
Operator 4 says:
we do not have anything to do with the license key that you obtain from NT. The commission is still the same if you lease or own the license key from NT. for the ES it is 3.80 per R/T

???

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Old December 29th, 2010, 11:21 AM   #48 (permalink)
Administrator: 'da Big Dawg
Manta, Ecuador
 
Trading Experience: Advanced
Platform: My own custom solution
Favorite Instrument: SP500, Stocks
 
Big Mike's Avatar
 
Posts: 31,185 since Jun 2009
Thanks: 20,749 given, 38,166 received

Just go to velocity's website, check commission. Don't click on NinjaTrader, just on FIX (TT_FIX). You might also email my Velocity rep to confirm I know what I am talking about. But again, go with whoever makes you comfortable and you are happiest with. My rep is @Dale Box, it's dbox <at> velocityfutures <dot> com.

BTW I mean to remove NinjaTrader from the equation as far as Velocity is concerned. You need to buy NT from NT, then just connect the TT adapter (FIX).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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Old December 29th, 2010, 11:26 AM   #49 (permalink)
Elite Member
VT, USA
 
Trading Experience: Beginner
Platform: NinjaTrader, AmiBroker, IB TWS
Broker/Data: Mirus/Zen-Fire, IB
Favorite Instrument: ES
 
Posts: 20 since Oct 2010
Thanks: 4 given, 4 received


Big Mike View Post
Just go to velocity's website, check commission. Don't click on NinjaTrader, just on FIX (TT_FIX). You might also email my Velocity rep to confirm I know what I am talking about. But again, go with whoever makes you comfortable and you are happiest with. My rep is @Dale Box, it's dbox <at> velocityfutures <dot> com.

BTW I mean to remove NinjaTrader from the equation as far as Velocity is concerned. You need to buy NT from NT, then just connect the TT adapter (FIX).

Mike

Ah-ha, lol, I see that now. Sorry for being the idiot that I am. Wow, that is so strange isn't it. One can very well just get that and buy NT to get an overall cheaper schedule than their NT schedule.

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Old December 29th, 2010, 11:27 AM   #50 (permalink)
Membership Revoked
 
Trading Experience: Beginner
 
Posts: 1,081 since May 2010
Thanks: 2,093 given, 574 received


Mike, you forget to add $0,1 if you trade ninjatrader on velocity. That adds another $0.2 RT. Even if you don't use the static dom, you have to pay $0.1 for the TT datafeed license per side.

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