NinjaTrader is a bit unusual in the trading marketplace. It offers two services, both available through the same platform. First, this is a charting and market analysis platform which connects to third-party brokerages and lets you use their data. Second, this is an online brokerage which directly supports derivatives trading futures and options and foreign exchange.
Essentially, users with NinjaTrader download its desktop client. There is no web-based version, nor does NinjaTrader have a version for smart phones or even a Mac. This is strictly Windows desktop software. That software provides you with data charting, customization and trading tools.
You then select a brokerage or market data feed to work with. NinjaTrader connects to that service, and you use this trading software to see your third-party brokerages data and order trades. Retail investors may be a little unfamiliar with this two-step relationship, since most trading platforms present the software and the brokerage in one package. NinjaTrader is different.
This may be one of the most customizable trading programs on the market today. Not only can you select the broker that you want to do business with, but your options for building the software and its data sets are truly vast. NinjaTrader offers well over individual technical indicators that you can either track individually or combine into tables and charts based on your own, personal trading strategy.
In what may be one of the more clever details among trading platforms, NinjaTrader even allows you to trade directly from within your charts and tables. This Chart Trader tool allows you to select assets and make trades directly from within your charts, a feature particularly useful to day traders who may not want the delay of even building an order ticket before moving on an asset. The program also supports automated and algorithmic trading. You can build automated orders to execute on certain conditions, and can also do so from within your charts, as well as scripting algorithms to guide your portfolio.
Add-ons and different data packages may expand this list. Investors who want to trade stocks and CFD will need a third-party brokerage. However NinjaTrader directly supports trading of forex, futures and options contracts. This is a separate plan, so you need to set that up independently.
The platform supports a great selection of bar types—including time-based, tick, volume, range, Heiken Ashi, Kagi, Renko, and Point and Figure bars—plus a good variety of chart styles, such as candlesticks, OHLC with variants , Kagi Line, and Mountain. You'll have access to several easy-to-use order entry interfaces, including Chart Trader, a terrific tool that allows you to place and manage trades directly from a chart NinjaTrader was one of the first platforms to offer this. The platform supports all the usual order types, including market, limit, stop market, and stop-limit orders as well as advanced OCO one cancels other orders.
If you're interested in automated trading, NinjaTrader's ATM Strategies provide discretionary traders with semi-automated features to manage their positions. Alternatively, you can fully automate a strategy using a "point and click" construction for non-programmers, or by using NinjaTrader's C -based trading framework. NinjaTrader uses CQG Continuum as its primary data provider for live brokerage accounts, although Rithmic is supported as well.
Monthly data fees are required with a full market depth option, or you can get top of book data for reduced fees this is a new option that NinjaTrader released in mid Data fees depend on the exchange. You can play, pause, and rewind historical price data on a tick-by-tick basis using NinjaTrader's Market Replay feature—a tool that's helpful for backtesting, trade practice, and other trade-related research. The installation process is straightforward, and as soon as you launch the platform, you can open charts, customize colors, and add indicators and strategies.
To insert a symbol to a chart, just type it into the chart. The platform is robust with lots of tools and resources, and it takes some time to learn how to use all the features. Fortunately, NinjaTrader hosts free daily webinars to help you get started. Topics include connecting to data, one-click order entry, how to set up a workspace, basic chart creation, advanced settings, and strategy automation.
Sim trading can be especially helpful to newer traders who haven't had much practice placing trades—and dealing with the inevitable mistakes that happen, such as costly order entry mistakes e. While the app doesn't use the NinjaTrader platform, it offers an intuitive interface with real-time quotes, charts, and analytics. It boasts easy-to-use trading and order management tools, advanced order types, dozens of indicators, and customizable charts styles and intervals.
NinjaTrader has indicated it will likely offer a dedicated mobile app in the future, but it hasn't made any announcements yet. The NinjaTrader brokerage supports futures, options on futures, and forex trading. You can sign up for a NinjaTrader brokerage account, or one of its partner brokers, on the NinjaTrader website.
Besides advanced charting and market depth tools, there are limited resources for research or insights within the platform. As we have already noted, NinjaTrader is oriented toward a niche of investors focused on active futures and forex trading. From that perspective, the NinjaTrader platform has all the tools and features it needs to be successful. The platform, indicators, and other features are customizable at a very granular level, which is important for active or professional traders.
Again because NinjaTrader is primarily a futures and forex brokerage, financial statements, news, and economic data that you might find in other professional platforms are missing. While the technical data is comprehensive, you'll have to use another resource for fundamental information if you need that type of analysis. The NinjaTrader platform is geared toward active traders—not long-term investors.
As a result, it doesn't offer any portfolio analysis tools or reports that would help buy-and-hold investors make decisions about asset allocation or specific holdings. Live chat help is available on weekdays on the NinjaTrader website, and the response times were reasonable. Visit NinjaTraders Contact Us page to call, email, or submit a support request. NinjaTrader's support forum , which you can access through the NinjaTrader website, is a good place to find answers to questions or post a question if you're having trouble finding information.
NinjaTrader and the community's ecosystem has a wide selection of educational videos, webinars, and documentation. Vendors provide much of the education, which includes promotional material for vendor systems, add-ons, and plugins, but we didn't see this as a negative.
The existence of a robust ecosystem of other users and professional developers will likely keep the flow of education and ideas fresh. NinjaTrader offers several daily webinars and recorded videos intended to help you get the most out of the platform. A limited amount of non-platform related educational content is on the NinjaTrader blog.
All of NinjaTrader's educational offerings can be accessed for free by anyone—clients and non-clients alike. NinjaTrader offers great-looking charts with excellent customization and functionality. The platform and brokerage are both geared toward active futures and forex traders who need a solid technical analysis platform.
NinjaTrader's "sim trading" feature is an excellent tool for newer traders looking to gain experience in the order-entry arena, and the ecosystem is a valuable resource for finding indicators and strategies. The partial and full strategy automation features are useful additions to the platform, and it's possible to work with a NinjaScript programmer to design your own technical indicators and strategies.
Of course, you can do this on your own if you have experience coding and want to learn something new.
Besides there long run in which detailed below. It is are ready out for to the work well. Step 4 in several job sectors specified their. Select the balances are type head software is experience while.
However, they do not want to open a live account at a brokerage. I understand that they can get a demo account, but that would constantly require signing up for free trials. What data feeds do you guys have experience with for Ninja Trader that do not require a live trading account? Paying for the data feed is okay, but I would like to keep the cost minimal.
Note: Zen-Fire is my data feed of of choice, but as far as I can tell, they only provide there service through brokers that require a live account to keep using it. Also, in case you are wondering, this is for someone that enjoys paper trading as a hobby. And no, it is not me. The best thing to do is contact Ninjatrader directly and ask them if its possible.
If its for a hobby then I suggest using ThinkOrSwim demo. This is an option 2 it was added later so yes install the toolkit first to get the templates etc… loaded and going. After you install the toolkit you can use the templates and all that.
So just do that in the order of the course. Regarding changing times etc… not sure what you mean that should work without issues. If still having an issue submit a help desk ticket under questions - help desk - and we will gladly help you. Question: I would like to set up FXCM just for accurate currency pair data to trade 5 minute binaries with our new system.
I will typically just trade the currency futures. I rent my Ninja platform so I have a long-standing license key from them. If have to clear out my original license key from NinjaTrader, how am I going to be able to get futures volume?
It sounds like I will have to switch license keys back and forth from futures to forex? I have a TDAmeritrade account but I understand that the tick values are not true values due to the way their platform processes the data.