Trading E-mini

[Mangafreakz]

Thanks , hehe , you are just modest , your posts are just awesome , learning so many things about NR7 setup these days from your posts .
In ninja trader , are there different indicators/systems available on net like in case of amibroker library on amibroker site , for example like finding NR7 days , etc or it requires hardcore coding like done by Anant sir or Kenneth ?

 

[AW10]

In Ninja, you can program everything, even to the extent where it can place orders for you, trail your stoploss, or even track mkt closing time and close the position.
It is one of the best trading platform.. not just technical analysis.

Programming interface is simple.. you can design your strategy, backtest it etc.. and even run your strategy in forward test mode (i.e. strategy keeps executing in demo mode on live data). It uses C# (C sharp, microsofts programming language).. so if one know that then it can be great platform/ tool in hand.

Happy Trading

 

[Mangafreakz]

@AW10
another query , Is it ok to remitt money for Margin trading in futures from India or you remitt money to your Relative for the futures trading account ?
Thank you.

 

[VJAY]

DanPickUp,
I have no idea about firetip.. But was happy with Ninja.
That can be configured to take datafeed from brokers trading platform directly. like Interactive broker etc.. You can infact place orders from Ninja platform that gets routed thru yr regular broker. You can obviously feed esignal type datafeed to NT platform.

I have account with AMP Futures broker which has margin of $ 500 for 1 ES contract.
They give free datafeed to ninja platform. If you want to use automated order placemnt, preset order templates etc, then u have to purchase ninja licence otherwise, basic buy/sell ordres can be placed with free downloaded version of ninja.
Chk out their site, where u will get lot of help about configuration.

It has pretty good system testing features as well.

Happy Trading

Dear Aw10 sir,
Can you please give some further details for bamp broker whom you trading emini...how is their service...how is their payout /payin service...etc

 

[pasha]

I think u shd be able to open acct with any other US / UK broker as well.. Send them required documents, fund the acct and there u go.

Check out this www DOT ampfutures DOT com.
As suggested by milind - IB is another good choice. Don't go for etrade type of brokers if you want to do active daytrading. Their commission is too high. Check out more from their sites.

They charge $400 margin for intraday trading on emini S&P500 contract (i.e. 20k Rs. approximately). We pay more then that for 1 nifty contract as margin.

But, understand that you will be in the market with more sophisticated traders and COMPUTERS with AUTOMATED TRADING SYSTEMS so it is absolutely must that u have solid backtested, profitable strategy .. 1 $ move on S&P is equal to $50 on emini contract. that means if you stop is $1 away, you are risking Rs. 2500 approx. And S&P500 is known for taking the stops out.

All the best.

AW10, is this account funded from outside India?
The local brokers provide only stocks.
Edit:
If the account is funded in rupees there are a lot of restrictions.

 

[AW10]

Vijay, Their acct opening is in 3 steps
1) fill online form with yr details
2) Submig documentary proof of address , identity etc.. You can send scanned copy of docs to them.
some of the regulatory documents will have to be submitted online .. Once u logon to yr acct, it will flash if any doc needs your agreement. Digital signature is acceptable.. ie. on all such contracts, just type in your name and job is done.

3) Fund you acct.. The instruction is given on their site. You need to xfr funds to their acct with one of US bank .. and in txn details, mention your trading acct number etc.

It took me about 3 days to see funds in my account.

Sorry, have no idea about Payout - cause haven't done it so far. For payout, u have so submit request online and provide bank details where they can xfr funds.
Depending on mode, destination of xfr, u might have to bear international fund transfer charges.

Check out their site ampfutures DOT com for details.

Overall, I am happy with their service. They have online helpdesk and if required, their agent can remote logon to your laptop (ofcourse u need to accept that remote logon request) and configure your trading platform if required.

Happy Trading

 

[AW10]

AW10, is this account funded from outside India?
The local brokers provide only stocks.
Edit:
If the account is funded in rupees there are a lot of restrictions.

I funded my account from my account abroad.
I wouldn't trade US market with indian brokers like ICICI.. their platfrom / acct reports etc are pathetic.

These International brokers have facility to select base currency for your account (atleast IB does that).. So if you select base ccy as Pound.. you can still take the position in USD nominated stocks.. In such cases, their account will get a bit complicated. They will
- buy equvialent number of USD in your acct, and deduct Pound balance.
- Use this USD to buy USD denominated security / futures.

- when u squareoff USD stock position, the reverse sequence takes place.
- as long as USD position is open, you have created a - bought USD + Sold GBP position which is subjected to daily currency risk.

It might be going on top of your head, first time when u read it.. but it took me quite some to understand all this. As I mentioned somewhere, IB's acct stmt has 6 or 7 subsection and one of that related to your Currency exposures.

If you want to avoid all this, then just nomiate acct in USD base currency.

I think AMPFuture, can denominate your acct in USD or EUR.

It doesn't matter from which CCY (INR or anything else) you are transferring the funds. Once it hits their accout with US bank, it is converted and credited in USD.

Hope this has not confused you.. but helps to some extent.

Happy Trading

 

[AW10]

@AW10
another query , Is it ok to remitt money for Margin trading in futures from India or you remitt money to your Relative for the futures trading account ?
Thank you.

whatever suits you. In US mkt, brokers give u margin for stock transction as well. i.e. u deposit 5k USD and you can buy stocks worth 10k or 20k..

Same 5K you can use to trade S&P500 emini futures.. and u can buy 10 futures emini contracts, controlling total worth of about 10*50*1050 = 525k USD.

Happy Trading

 

[pasha]

I funded my account from my account abroad.
I wouldn't trade US market with indian brokers like ICICI.. their platfrom / acct reports etc are pathetic.

Happy Trading

Thanks AW10, I guessed as much. It's the only way to do it provided the trader has an account overseas.

 

[Mangafreakz]

Thanks AW10 , one needs to use the A2 form for remitting money, right?