02 Oct What software do I use?
I learned to trade on CQG and have used it for years. The software is very expensive and the company has done a poor job of keeping up with its charting services. It is the premium charting service for professional futures traders. Since November 2009, I switched to Investor/RT (MarketDelta) using IQFeed as the data provider and have been very happy with it. I also use TradeStation for some of my charts, but it is slowly being phased out.
My setup for charting at the office consists of a quad-screen configuration (4 screens mounted in a grid on one stand). I also have a dual-monitor setup (2 monitors set up on top of each other) also for charts.
The charts and trading platforms are running on a secure local gigabit network running at internet bandwidth speed of 622 Megabits/second (OC3).
All miscellaneous internet applications and unsecured communication such as Tweetdeck, Skype, email and so on is run on a 17” laptop with a 23” monitor attached.
Since I’m trading from the Chicago Board of Trade, my trading platform has a quick connection to the exchange through the fastest possible pathway. There is little to no chance of connectivity issues.
I no longer use X-Trader Pro. I have used that platform since 2002. I use Investor/RT by Linnsoft on a DTN IQFeed datafeed to generate the Volume at Price charts (Volume Profile) charts that I post on Twitter every day. The tick data is not aggregated or sent in burst mode. On IQFeed, longer term charts are equalized automatically to reflect the proper futures premium across expirations.
My trading setup consists of 1 screen mounted underneath the 5th charting screen on the dual-monitor setup. That trading screen has my Depth of Market windows for the various markets I watch.
I have voice alerts for various markets’ highs and lows. I also have alerts on key currency pairs and market internals. I use these to make me aware of what is going on in markets that I don’t necessarily watch a chart for.
I wasn’t asked by anybody, but I thought I would go over my equipment setup for those who might have the question after having read this.
Trading: Hewlett Packard Z600 with Core i7 10 GB RAM running Windows 7 Pro on 2 screens. Wired Logitech MX-518 gaming mouse and keyboard. Battery backup.
All equipment is using 1 Gb/s network cards and Category 6 network cable into a network built on Juniper. For the real IT geeks out there, I have QoS set up in the switch to maintain consistent bandwidth to my trading computer. It gives me the flexibility to assign equipment and to do some network intensive things on my own.
Sounds techie, but some of you might want to know.
I hope this covers it.