Trading platforms for a Sydney based trader

[hooikk]

My problem: I can't quite figure out how/where I can trade the futures/forex market. Can a person in Australia place trades on the NYMEX? I've been doing a bit of research, and I'm just getting confused after reading forums and articles here and there. There are some AU-based people using MetaTrader, NinjaTrader, Interactive Brokers etc etc. Aren't these US-based companies/software? Do I have to open accounts with them to trade?

I'm currently trading CFDs (with IG-Markets) using a fairly straightforward process. Make my analysis using a 3rd party charting program, and then place my trades the next day. IG-Markets is DMA, so I'm looking at the same prices when I'm using my charting software.

IG-Markets seems to have futures contracts as well, but they don't seem to be the same with the prices I'm seeing for the NYMEX (via BodhiGold)

I'm planning to get Amibroker (love the backtesting and ability to customise!) and a separate data feed from JustData. I'd like to be able to use the same approach as with my CFD/shares trading i.e. Make my analysis/scans in Amibroker, and then place trades with a broker. If I'm looking at NYMEX data, I'd rather be placing a trade that is based on NYMEX data. Similarly with forex.

Can someone please enlighten me?

 

[Trembling Hand]

Use IB.

 

[Richard Dale]

With futures data you must ensure that you are looking at exactly the same delivery month and session.

We quite often get questions from users who ask why their data shows something that their trading platform didn't, but often it's a case of determining exactly what you're looking at.

eg. Looking at a continuous contract chart and wondering why it doesn't match an individual delivery month (typically because the continuous contract chart is working off a different delivery month).

eg. You see a price point in your local data which was never achieved on your trading platform - it could be that the trading platform is showing floor-only trades but the data is showing Globex and Floor combined trades.

AmiBroker is a great platform for futures trading - but to do serious back testing with it you need to define point values, minimum tick sizes, margin values etc. Some data vendors do this for you....

 

[hooikk]

Use IB.

Any particular reason for Interactive Brokers? Are they the only mob available in Australia?

I had a look at their website, http://www.interactivebrokers.com.au/, but it seems very US-centric

 

[hooikk]

With futures data you must ensure that you are looking at exactly the same delivery month and session.

We quite often get questions from users who ask why their data shows something that their trading platform didn't, but often it's a case of determining exactly what you're looking at.

eg. Looking at a continuous contract chart and wondering why it doesn't match an individual delivery month (typically because the continuous contract chart is working off a different delivery month).

eg. You see a price point in your local data which was never achieved on your trading platform - it could be that the trading platform is showing floor-only trades but the data is showing Globex and Floor combined trades.

AmiBroker is a great platform for futures trading - but to do serious back testing with it you need to define point values, minimum tick sizes, margin values etc. Some data vendors do this for you....

What do you mean by point values?

 

[Richard Dale]

The dollar value of each point (i.e. if you had 1 contract, how much would your equity change when it changes 1 point)