Trading Platform

I just found out from my broker that the RealTick platform fee is increasing by over 25% next month. I usually don't pay a platform fee, as my trading volume is large enough that my broker rebates the cost - but they also informed me that the threshhold for getting that rebate is increasing too. So the bottom-line is I may be looking at an added expense.

I like RealTick, I have been using it for years, and it does everything I want. But, I thought I would use this news as an opportunity to evaluate what everyone else is using. If you are using a direct-access broker, I would like to hear from you. Please leave a comment regarding your platform and broker, and your thoughts on the functionality and reliability. All comments are appreciated!

edit - I should clarify...RT is what I use for charting, and it is integrated to my broker. I am looking for feedback on what you guys are using for your real-time charting, as well as feedback on your broker. But I am most interested in the charting - the functionality, flexibility, toolset, et cetera. Thanks!

Some answers...

Here are some of the most oft asked questions of me since I began blogging:

Q.) How many trades do you make a day?
A.) Usually 4-6.

Q.) Do you go in with a bias every day (if it will be up/down)?
A.) Absolutely not. I rarely look at the overall market...I just take the setups that appear daily whether they are short or long.

Q.) How do you prepare your watchlist?
A.) I don't want to re-create the wheel. See Trader-X's posts here.

Q.) What are your favorite Xbox games?
A.) Right now I am really into Halo, Call of Duty 4, Mortal Kombat, and Beautiful Katamari.

Timeframes, indicators, and movies...

If you read me on Trader-X, you know that I traded longer time frames and even some swing trades. I still swing trade in my longer-term account, but in my day trading account I tend to focus on 5-minute charts.

If you were an avid reader of X, you know he focused mostly on 15-minute charts, and often made reference to the danger of trading faster time frames (5, 3, 1-minute charts). I agree with that, and think that anyone new to trading should concentrate on longer time frames and slower charts - that way, you have more time to react and make decisions. I did that for many years, and slowly worked my way to 5-minute charts which is where I feel the most comfortable.

The backbone of X's trading is Fibonacci principles and Candlesticks, and I incorporate them into every aspect of my trading as well. But I also look at other indicators - namely the open and standard Pivot and Swing points. Finally, I incorporate a few simple Moving Averages into my trading.

I will post some charts in the near future as I work to find my rhythm as a Blogger. I don't know if I will post daily, or just a few times a week. I don't want the Blog to control my life and thus get burned out quickly, so my initial goal will probably be 3 or 4 posts a week.

Now to movies - "I Am Legend" was amazing. Will Smith is a great actor, and his performance rivaled Tom Hanks in "Castaway" - Hanks spent most of the movie talking to the volleyball, and Smith spent most of the movie talking to a beautiful German Shepherd. I really enjoyed it - it kept me on the edge of my seat and the special effects were fabulous. I highly recommend it.

As far as rentals - check out "The Kingdom" for a good story and some nice action, and "Superbad" for an entertaining and fun time.

If I don't post again before midnight, I want to wish everyone a safe and Happy New Year. If you are driving, don't drink...if you are drinking, don't drive. Those are my only two rules.