How to Trade From the Charts Using NinjaTrader Chart Trader

Enabling the Chart Trader

You can enable the NinjaTrader Chart Trader at any time by clicking on the Chart Trading icon in the chart toolbar. You can place orders and manage positions directly from the chart, allowing you to see orders and positions in context with the price action and your favorite technical indicators. (Figure 1)

Figure 1: Chart Trader Icon in the Charting Toolbar

Once you click on the icon, a dialog box will appear, giving you three choices: Chart Trader Off, Chart Trader, and Chart Trader Hidden.

Placing trades with chart trading

When NinjaTrader Chart Trader or Chart Trader Hidden are enabled, follow these steps to place a trade:

1. Place the mouse cursor near your order price on the chart.
2. Left-click on the chart. This brings up the right mouse button menu, which offers four order options: Buy Limit, Sell Limit, Buy Stop, or Sell Stop.
3. Click on the required order, and the order will become active. (Figure 2)

Figure 2: Chart Trading With Right Mouse Menu Order Options

You will now see an order flag and label; you can refine the order price by clicking and dragging the order to the new price. You can also change the order quantity by clicking on the quantity number in the flag. Click the X on the right to cancel the order.

This includes Eurex futures such as the FDXS Micro DAX, FDXM Mini-DAX, and FESX Euro Stoxx 50.

Why limit and stop orders should be placed above or below the market

Limit and stop orders function differently based on their purpose. A limit order is designed to execute at a specific price or better. For a buy limit order, the price must be below the current market price, as the trader is willing to buy only at that price or lower. Conversely, for a sell limit order, the price must be above the current market price, as the trader wants to sell only at that price or higher.

A stop order is used to trigger an entry or exit when the price moves to or through a certain level. A buy stop order is placed above the current market price to capture upward momentum, while a sell stop order is placed below the market to capture downward momentum. This distinction allows traders to position their orders strategically based on their expectations of price movement.

Chart Trader right-hand panel

The quick-click order panel on the right presents several single-click buttons to quickly enter or add to a position, close a position, and reverse a position. You can set the account to trade, order quantity, and time in force (TIF) (day order or good till cancel [GTC]). It also allows traders to attach and place ATM strategies, like OCO brackets as well as more advanced OCO orders with multitarget brackets and trailing stops.

In addition, there is a right mouse button menu that allows for quick-click order and position handling to cancel all orders and flatten all positions. (Figure 3)

Figure 3: Chart Trading Quick-Click Panel and Right Mouse Button Menu

Chart trading with NinjaTrader provides a dynamic interactive trading environment with the ability to place, modify, and manage trades directly from the chart. Traders can seamlessly integrate market data and technical analysis in context with real-time order placement and position management. Whether you're a seasoned trader or just starting out, the Chart Trader can help you discover the full potential of the NinjaTrader platform.

FAQs on NinjaTrader Chart Trader