Montly costs

[DavidB 0]

Hi,

 

 

 

I’m a day trader beginner but I’m taking my learning very seriously. I work full time now as a project manager but I would like to day trade full time in one or two years. 

First of all, I would like to know what I need to buy or pay monthly to have the right tools/subscription/software.

To buy
- New computer

Monthly subscriptions
- Internet Subscription
- Market Data Subscriptions
- Level 2 Subscriptions
- DAS
- Scanner
- BBT (Learning and support ) 

Ho much day trading cost you each month and for what? In order to break even, I got to be trading a profit of this amount

Thank you very much for tour help!

[DavidB 0]

Thanks @peterB!

I’m agree we have invest money to make money . I see it like I was starting a business and the first year is rarely profitable! I was just curious how much it cost each month to run « this business ». Not the commissions but the others costs (scanner, DAS, etc.)

[Abiel 475]

Hi David

- New computer: You really don't need a new / fancy computer if you already have a  laptop or desktop.  DAS Trader Pro is not a very resource-heavy program. It is designed for Windows OS, any computer with Core2 Duo 2+GHZ processor or higher, Minimum 4GB of RAM, Windows 7, or higher will be able to run DAS Trader Pro. Please see the full system requirements here https://www.dastrader.com/DAS-Support.html > 5. SYSTEM REQUIREMENTS

Monthly subscriptions
- Internet Subscription: In today's world this is an expense we all have, traders or not. 
- DAS / Market Data Subscriptions / Level 2 Subscriptions: If you use DAS + IB market data is included in your $150/$165 monthly fee.  With CMEG data is sold separately but at the end DAS+Data should be around $150
- Scanner: Most members use the shared TI scanners in the chatroom while in sim training and get a TI subscription later when they spend some time trading live and they show some consistency and make some money. Most members get the standard plan. 
- BBT (Learning and support):  If you are serious about your day trading career get a Lifetime Membership. Norm and Andrew let us know last week this is the last time BBT is offering a 40% off of LT memberships, and even Andrew said LT memberships could disappear in a new memberships structure. 

For trading live, a Battery Backup Uninterruptible Power Supply (UPS) System would be a good add to your gear https://amzn.to/2WwjAYM

So, keep your business lean while you prove to yourself you are a good and profitable trader, then you can reward yourself with nicer stuff 😎

[DavidB 0]

9 minutes ago, Abiel said:

Hi David

- New computer: You really don't need a new / fancy computer if you already have a  laptop or desktop.  DAS Trader Pro is not a very resource-heavy program. It is designed for Windows OS, any computer with Core2 Duo 2+GHZ processor or higher, Minimum 4GB of RAM, Windows 7, or higher will be able to run DAS Trader Pro. Please see the full system requirements here https://www.dastrader.com/DAS-Support.html > 5. SYSTEM REQUIREMENTS

Monthly subscriptions
- Internet Subscription: In today's world this is an expense we all have, traders or not. 
- DAS / Market Data Subscriptions / Level 2 Subscriptions: If you use DAS + IB market data is included in your $150/$165 monthly fee.  With CMEG data is sold separately but at the end DAS+Data should be around $150
- Scanner: Most members use the shared TI scanners in the chatroom while in sim training and get a TI subscription later when they spend some time trading live and they show some consistency and make some money. Most members get the standard plan. 
- BBT (Learning and support):  If you are serious about your day trading career get a Lifetime Membership. Norm and Andrew let us know last week this is the last time BBT is offering a 40% off of LT memberships, and even Andrew said LT memberships could disappear in a new memberships structure. 

For trading live, a Battery Backup Uninterruptible Power Supply (UPS) System would be a good add to your gear https://amzn.to/2WwjAYM

So, keep your business lean while you prove to yourself you are a good and profitable trader, then you can reward yourself with nicer stuff 😎

Thank you for this very complete answer and I agree. I will wait to update my computer and reward myself after the training when I will become a profitable trader.

[leilij 6]

Hi David,

I am a new trader myself and have been live for less than a month. 

At the beginning you can't focus on money too much. You got to make your risk low and that will cause you to be red on green days due to commissions, and very red on your bad days!

It will definitely drain money at the beginning but they say it pays well once you get good at it!!

I definitely recommend you get the BBT lifetime membership. The community is great, the chatroom is awesome and the resources are great. 

[DavidB 0]

3 hours ago, leilij said:

Hi David,

I am a new trader myself and have been live for less than a month. 

At the beginning you can't focus on money too much. You got to make your risk low and that will cause you to be red on green days due to commissions, and very red on your bad days!

It will definitely drain money at the beginning but they say it pays well once you get good at it!!

I definitely recommend you get the BBT lifetime membership. The community is great, the chatroom is awesome and the resources are great. 

Thanks to share your experiences. You seem a very nice group 🙂