Forex support is lacking

[stormaz]

Hello. I've read many forums regarding backtesting of automated forex strategies. 90% fail to understand what "serious" automated traders need to code a winning strategy. Forex is a different market compared to equities. As such, an app should not try to be all things to all people.

I have to admit that Ninja Trader has some really useful tools for strategy creation, backtesting, and optimization. As I am a programmer myself, I was excited to see C# as the underlying language for scripts. However, halfway to getting my credit card out to purchase cleaned tick data and buy a license of Ninja Trader I paused. Everything fell flat when I noticed you could not place opposing limit/stop orders at the same time (hedge). 90% of "serious" forex strategies include a hedge element due to the volatile nature of that market. And 5 out of 6 brokers I've worked with over the past 2 years accept hedged positions. So I'm wondering why Ninja Trader is offering forex as an option in their software when "trading rules" of equities don't apply to forex? And why would NT try to protect me anyway with trading rules, it's my strategy. I'm a big boy.

Maybe in the future NT can add hedging orders as an "advanced" only option. So, yet again my excitement over a "killer app" for testing automated strategies for forex deflates. Back to my plethera of custom built tools.

peace
Rich

[NinjaTrader_Ray]

Just a corrective post.

You can place opposing stop/limit orders to protect an open position. What we currently prevent is the submission of opposing entry orders. So you can't in the same strategy instance submit an enter long limit and enter short stop order. However, this can be worked around by running two separate strategies.

[stormaz]

Correct me if I'm wrong

Correct me if I'm wrong. Here's how I setup a Strategy Analyzer script based on a standard "trap" entry strategy.

- Enter a sell limit order (short) 10 pips above the current Bid price.
- Enter a buy limit order (long) 10 pips below the current Ask price.

Take profit is 20 pips for both. If the price whipsaws through both orders then we will end up with 2 entries and 40 pips of profit.

What happens when I set this up in Ninja Trader is that it kills the 2nd limit order when the first one gets filled.

Please, correct me if I'm wrong here. And from what I read, there's no way to backtest multiple strategies. So, if effect there's no way to workaround this problem by using 2 strategies.

peace
Rich

[NinjaTrader_Ray]

Thanks for the response as this clears things up. Yes, then what you wish to do is currently limited. We are looking at ways to improve this with NT7 which is targeted for beta end of the year.

[_cdf_]

Thanks for the response as this clears things up. Yes, then what you wish to do is currently limited. We are looking at ways to improve this with NT7 which is targeted for beta end of the year.

You said it can be done in Ver 6 , and disappeared in Ver 6.5.
It is so important function that I cannot understand why the beta will be targeted at the end of the year, and not July, or August.

I wanted to purchase a lifetime License before, but not now.