TT Credits Revisted

[Savage1701]

My introducing broker recently switched to Vision, which does not collect TT Fees directly.

Therefore, I need to either go back to a Dynamic DOM or purchase credits.

I have never purchased these before, and have a few questions:

1. Are other traders' accountants telling them these are 100% tax deductible from dollar one on, or do I need to hit the 2% AGI? I mean, if they show up as a line item on a trade confirmation from a broker, like a SEC fee or commission from that broker, that can be different than saying that those credits, bought from NT, are like trying to deduct a trading platform fee or a subscription to a financial publication.

2. What happens if I am in the middle of a trade, and run out of credits? Say I have a 1000 share block I am selling on a static ladder, I hit "sell market" and then realize I only have 847 shares' worth of TT credits left. Is the order cancelled? Partially filled? Filled and I am left with a TT debit? I could waste either a lot of time buying credits in the middle of a trading day or spend a lot of money to "warehouse" TT credits. How do people do this?

[NinjaTrader_Chip]

Hello Savage1701,

Thank you for your post.

1. Unfortunately we cannot advise on any matters related to taxation. You would need to pose this question to your personal tax professional. Perhaps another forum participant can weigh in on the taxable implications of these fees.

2. The Static SuperDOM is only used to trade futures. If you wanted to trade stock using the SuperDOM, you would do so using the Dynamic SuperDOM which does not require any TT credits.

You can also set a threshold amount from which an alert/reminder can be triggered. Go to Help > NT account & it is here where you can establish the threshold amount. (see screenshot for this item)

If you are ever in a position where you accidentally run out of TT credits mid-trade, you can contact your broker immediately via phone to complete the trade.

Please let me know if I can answer any additional questions.

[Savage1701]

I appreciate the reply.

Yes, I was specifically directing the tax question to other traders; I sure don't expect NT to give me tax advice. :-)

I guess this shows my age on how long I had NT. I thought since TT had a per-share-stock agreement as well I could buy TT credits and use them with, say, MB Trading for a static DOM on stocks, but good to know that's not even an option.

Finally, are you saying I could not even close the trade with a Basic NT window? I'd have to call my broker in the middle of trying to get out of something? That could be a real disaster for anyone other than a swing trader, in which case NT would not really be needed anyway. But I do appreciate the warning.

Thanks again.

[NinjaTrader_Chip]

Hello Savage1701,

Just to clarify, I was speaking specifically to the Static SuperDOM. Trading through the Dynamic SuperDOM, Basic Order Entry, etc do not require TT Credits.

In any event, since the “NT Account” feature (see previous screenshot), you should never have to be in a position where you would need to make a last-second call to your broker in the midst of a trade. The feature allows you to establish a threshold warning that will alert you when you want to add more TT credits to your account.

Please let me know if I can answer any additional questions.

[Savage1701]

OK, I've never had a situation where both the static DOM and dynamic DOM were enabled at the same time under a license. I guess if Basic Order Entry is always available then, yes, you are absolutely correct. One could always flatten a position that way.

I've also never purchased credits, so I was not aware that a credit-availability and warning threshold. My introducing brokers have used interface engines that collect the credits on the commission statements from whoever is clearing for them, but thank you for pointing that out.

I appreciate your time.

[NinjaTrader_Chip]

Hello Savage1701,

You can email sales AT ninjatrader DOT com & request that your account be enabled for both the Static & Dynamic SuperDOM.

I have also included the link for purchasing TT Credits below:

http://www.ninjatrader.com/webnew/support_myaccount.htm#tt

Please let me know if I can answer any additional questions.

[Savage1701]

Thank you very much for the fast, helpful support and for the appropriate links.

I appreciate it, and continue to enjoy being a NT customer.

Regards,

Steve Savage

[NinjaTrader_Chip]

Hello Savage1701,

Thank you for your response & positive feedback!

Let us know if we can be of any further assistance.

Have a great day!