Can someone explain what programs I need to run?

[permanentjaun]

Howdy folks,

I've recently realized the importance of running through an ECN. Unfortunately that means MT4 is out of the picture. (Hooray NT?)

I have a scalping system I'd like built, but I don't know how to code C#. I also have no clue what programs I need to trade my system.

I want to forward test my system live with a few hundred bucks through MB Trading, and then eventually grow into better ECN's if the system works.

On a very high level, what would be the structure of how I'd have to run the system through MBT, and then other eventual ECN's? Right now I believe Ninjatrader connects in to my MBT account and can create charts. What would I need Neoticker/Tradestation/zenfire for? What are they doing for me?



That is from NT's website. Sure, NT has some charting, but not very robust. I'm sure it can be built up with custom indicators. Perhaps I'm confusing NT with the window it pops up for MB Navigator?

If my strategy is automated, do I need to bother with an advanced charting package?

I'm sure you guys get the idea. I'm lost in all the different programs.

Any help is appreciate in understanding all of this.

Matt

P.S. - Do I dare ask the qualities/benefits of one scripting language over another?

[NinjaTrader_Dierk]

- for coding your strategy you either need to use the strategy wizard (Tools->New NinjaScript->Strategy) or code your strategy manually in NinjaScript (basically C#). The latter requires programming know how.
- platforms on the left of your screenshot below feed NT by realtime data which you would get from MBT anyway -> no additional value in your scenario
- you might need a vendor for historical data to e.g. backtest your strategy (IqFeed, eSignal, OpenTick)
- please contact MBT on how they would route your orders places by NT to different ECNs

[permanentjaun]

Thanks for the quick reply.

I'm still new to understanding ECN's.

Can you explain a scenario of when I would need a signal provider? Don't most brokers have their own feeds?

I guess I'll take a stab and say there are 3 different possible programs to run.
1. The broker that executes the trades. And if they don't provide datafeeds then I need:
2. A signal/data provider. Do you have any examples of ECN brokers that don't offer data feeds?
3. A program to run strategies such as NT.

[NinjaTrader_Dierk]

I suggest contacting your preferred broker for ECN and order execution related question. NT only handles the order entry and strategy managed part.

Not sure what you mean by signal provider. Your broker will feed NT will realtime data.

[permanentjaun]

I suggest contacting your preferred broker for ECN and order execution related question. NT only handles the order entry and strategy managed part.

Not sure what you mean by signal provider. Your broker will feed NT will realtime data.

That's kind of what is confusing me. You said the programs on the left side of the image, ie tradestation/esignal, provide realtime data. I would assume all brokers do that.

If esignal and tradestation aren't providing realtime data, what do they provide above what NT can do?

[NinjaTrader_Dierk]

They provide realtime data and some users prefer feeding data into NT by these applications.

They also could trigger trades through the NT automated trading interface (ATI): http://www.ninjatrader-support.com/H.../Overview.html

I recommend attending one or more of our free webinars to understand the concepts of NT. Please see the link in my signature.

[permanentjaun]

Do you have any recorded webinars? I am at work during all those sessions.

[NinjaTrader_Dierk]

Unfortunately not.