34. SOFTWARES AND TOTAL COSTS

Overview of Trading Software Costs

  • Purpose: To provide insight into various trading software options and their associated costs.

Ninitrader

  • Cost: $1,500 (one-time payment)
  • Features:
  • Lifetime license
  • Access to order flow and indicator tools
  • User-friendly: no recurring payment required

Quantower

  • Cost: $1,600 (one-time payment)
  • Features:
  • Modern and regularly updated software
  • Supports various integrations with other trading platforms
  • Alternative to Ninitrader, not covered in this course but a solid option to consider

Spot Gamma

  • Cost: $124 per month
  • Features:
  • Useful for analysis of ES levels and options for trading stocks (Apple, Nvidia, Tesla, etc.)
  • Complements BookMap for accessing real iceberg orders and liquidity data

Footprint Indicator

  • Cost: $500 (one-time payment)
  • Importance: Recommended as a must-have tool for analyzing market data

Order Flow

  • Cost: $60 per month
  • Additional Option: Free tier available, but more limited in features

Auto Trader

  • Cost: $800 (one-time payment)
  • Functionality:
  • Automated trading system that identifies strategies like Delta Slingshot and Delta Sweep
  • Cannot use with proformas; complexity in creating algorithmic systems

BookMap

  • Monthly Subscription: $50-$60
  • Lifetime Fee: $1,900 (or $990 for the extreme package)
  • Capabilities: Offers advanced charting and market depth analysis

Total Package Cost

  • All-Inclusive Cost: Approximately $5,600 (includes all software, including Quantower)
  • If excluding Quantower: Cost may reduce to around $4,000
  • Note: Total cost fluctuates based on selected software and packages

Summary

  • Each software offers unique features with respective costs.
  • Ninitrader favored by the speaker, but alternatives like Quantower also recommended.
  • Spot Gamma and BookMap essential for serious traders looking for in-depth analysis.
  • Consider software needs based on trading style and objectives.