The award-winning NinjaTrader trading platform is always free to use for advanced charting, strategy backtesting and trade simulation.
Simulated trading, also known as paper trading, is an integral component of the trading education process and equally as important for experienced traders wanting to test new concepts.
NinjaTrader comes preinstalled with a simulation account, Sim101, allowing traders to immediately begin trading in a simulated environment. Found in the Accounts tab of the Control Center, this account can be customized to a user’s desired preferences and parameters. In addition, other simulation accounts can be added and removed as required.
See How You Can Modify the SIM Trading Account:
Account Properties Menu
Customizing a simulated account allows traders to mirror their unique trading styles and approaches. Within the Account Properties menu, the following parameters can be user-defined:
- Forex lot size
- Initial cash
- Max order size
- Max position size
- Risk template
- Minimum cash value
To access these parameters, right-click the appropriate simulation account and click Edit Account. Once the desired changes are made, click OK.
Add/Remove Simulation Accounts
To add an additional simulation account, use the steps below.
- Right click anywhere in the Accounts tab, and select Add Simulation Account
- Type a custom name for the new simulation account
- Configure any other necessary parameters
- Click OK
While the Sim101 account cannot be removed, other simulation accounts can be deleting using by following the steps below.
- Disconnect from any data connections (Connections>disconnect)
- Within the Accounts tab, right click the simulation account to be removed
- Select Remove Account
Reset a Simulation Account
A simulation account can be reset at any time to restore the account to its original settings. To reset a simulation account, follow the steps below starting within the NinjaTrader Accounts tab.
- Right click the appropriate simulation account and click Edit account
- If necessary, configure any parameters pertaining to the sim account
- Click reset towards the bottom right of the Account Properties window
- Click OK