Switch brokers and buy Ninja Trader or not? Looking for advice please.

[iTrade777]

Thanks for the reply.

You use market orders?

To each their own but I would advise against that.

The better way to do it (IMO) would be to use limit orders with an offset.

Hotkey / Hot button it.

Well on NT you can't hot button it...

[iTrade777]

Itrade777, I believe you are in the wrong place. If you are looking for a platform, like E-trade Pro used to be years ago, where you have a bunch of DOS like hot keys which you use 50-100 times/day - this is not what NinjaTrader is and most likely never will be.

Hello.

The number of orders per day has little if nothing to do with the features I mentioned.

NT already has hot keys just limited ones.
NT should have customizable hot buttons as well.

Hot keys / hot buttons are mainly used to day traders due to their speed benefit and ease of order entry.

So the fact that NT has hot keys and tick by tick real time data implies it's also designed for day traders.
Whether the day trader makes an average of a few trades per day or 100 trades per day doesn't make a big difference in regards to the features I've suggested.
Honestly I'd bet NT would rather have the trader that makes 100 trades per day than the one that only makes a few trades per day because obviously they'll make more money on the commissions with the trader that makes more trades. So it's in their vested interest to design the best day trading platform possible to attract as many day traders as they can.


I've never used E-Trade Pro and I assume it doesn't do what I've mentioned.
Pro day trading software like DAS does what I've mentioned.

This is a software with emphasis on ATM but which also has good charting and decent execution. One
platform can not be all things to all traders.

Eh... So instead of improving the current [order entry] via hot keys / hot buttons which different types of traders would want your philosophy is, if it's not already in NT, forget it?

Also, wanting the software to be modernized having 4k support is asking to much?

Just trying to save you some time, you saw support tell you that these changes can only be done outside of Internal Ninja Development.

Support thanked me for my suggestion and filed a feature request to the development team.
And why wouldn't they?
It improves the product and experienced day traders use those features I mentioned.
So by them NOT being in NT means NT is currently inferior and that directly negatively effects their sales.


If I owned NT I'd want to modernize it by having better hot keys and hot buttons and making it 4k compliant.

As a trader some of the main draws to use NT is that you get great leverage on the micro futures and by trading futures you avoid PDT, short fees/locates, can trade round the clock, etc.

In other words, I'm sure a lot of traders looking into using NT are day traders or new day traders wanting to avoid the above mentioned.


If NT has any business sense they'd want to improve their platform to accommodate the constant growing number of day traders.

As for me buying NT lifetime, I might. I might not.
Haven't decided yet.

With that $1,100 I can be traded it instead of owning a non-transferable, non modernized trading platform so it's a tough call.


Appreciate your reply.

[koganam]

Thanks for the reply.

You use market orders?

To each their own but I would advise against that.

The better way to do it (IMO) would be to use limit orders with an offset.

Hotkey / Hot button it.

Well on NT you can't hot button it...

Stop Market. Yes. I enter with Limit or Stop Limit orders, and I exit with Limit Orders at targets. Stop Loss orders are Stop Market. That is what I said. Kindly read properly before you make comments about what I write. Stop Loss orders, and only Stop Loss orders, are market orders for me,

When I am wrong, which is what is implied by a Stop Order getting hit, I want out NOW. I have no desire to sustain a huge drawdown to save a few ticks, just because a Stop Limit order never came back to fill and just kept going after crashing through my Stop price. If that is what you prefer, as you say, to each his own.

[iTrade777]

I'm curious.

Are you real time submitting your stop market stop loss ?

What if your internet drops or hesitates for some seconds or your computer crashes as the market tanks down on you?

I've experienced such things.


Do you trade MES/ES?

Are you not setting a hard stop limit because you're concerned of having your stop loss ran?

Why not set it very far away then move it into place where you want when you want?

[koganam]

I'm curious.

Are you real time submitting your stop market stop loss ?

What if your internet drops or hesitates for some seconds or your computer crashes as the market tanks down on you?

I've experienced such things.


Do you trade MES/ES?

Are you not setting a hard stop limit because you're concerned of having your stop loss ran?

Why not set it very far away then move it into place where you want when you want?

It really makes no difference how. The key takeaway for me is as I stated: "When I am wrong, which is what is implied by a Stop Order getting hit, I want out NOW. I have no desire to sustain a huge drawdown to save a few ticks, just because a Stop Limit order never came back to fill and just kept going after crashing through my Stop price. If that is what you prefer, as you say, to each his own."

No matter how I place the order, when I am wrong, I want out instantly. If a platform, for any reason, gives me large slippage, I will no longer use it. I have investigated what happened and drawn my conclusions. I execute as is best for me. YMMV.

[fr33b]

Thanks everyone for your discussions here, lots of considerations and valuable information here. I bought NT8, after trialing the free version for a while, mostly because of the Intraday Margin requirements on MES. I'm very happy with it to date, been creating hotkeys as needed or just changed existing ones, coding some auto trade algos etc. My main concern is the aggregated data feed I'm trading at the moment, didn't realize I'm not getting a tick by tick actual feed until now. Anyone here gone through the process of setting that up in NT8?

[patricia70]

Hello iTrade777 and rest,

some days ago I did read on another forum:

The NinjaTrader platform was developed years before there was a NinjaTrader Brokerage, and at that time it could be used with a large number of brokers and gained wide acceptance.

Several years later, NT bought up a failing broker and renamed it NinjaTrader Brokerage, at which time it also restricted use of its trading platform to its own brokerage and a small number of others. The intention was to pursue the business opportunity of running a broker with its own trading platform that would be directed at the existing base of platform users. It was meant to be an exclusive or near-exclusive deal. There would never have been a NinjaTrader Brokerage if there had not been a successful and popular NinjaTrader platform first.

I am not criticizing the business decision, but NT Brokerage was never meant to accommodate its competitors in the trading platform field. The possibility of going around NT by connecting directly to its FCMs was always just a hack that went against the NT business model, which involves NT Brokerage accounts using only the NT platform.

I think you have reached the end of your rope in seeking an alternative to the NT platform while using the NT brokerage. They were not meant to be separable in the first place.

You mentioned that you were attracted to NTB for its low margin requirements, among other things. While low margins have their risks, especially for a trader new to futures, there are many brokers with low margins, who also do not force you into one platform.

the decision of the broker and the platform are independent questions, usually at least, which makes the decision more complicated.

how did you decide finally? give us some updates news, please.

[iTrade777]

Hello iTrade777 and rest,



how did you decide finally? give us some updates news, please.

Hello.
I decided to go for it.
I bought the lifetime multi-broker license on sale.
Sale ends 9-16-2020 so if you want to get it, then get it!

Main reason is because of the leverage Ninja Broker offers.

I'm busy with other work/business so I probably won't be opening my account probably for a couple weeks or so, not sure yet.

I am very used to TOS (AMTD's platform) and TOS's studies.
So for me I'll need to replicate those indicators/studies on Ninja Trader.

For example, VWAP, etc.

I'm sure NT probably has those indicators though I don't think I saw VWAP.
If it turns out I don't like them or how they chart in NT 8 I might chart from TOS and place orders via Ninja Trader...


Over time I'll share my experience if anyone is interested?

[weber45]

Yes of-course, Ninja Trader is perfect , i was preciously trading with secure platform cfd broker but recently switch to ninja trader and very satisfied you it. i highly recommend ninja trader and i am sure you will not regret. Best wishes for your. Regards

[Drysat]

I have been in a similar situation to your's actually. I wasn't that sure if it is worth it. I was really afraid that I would only lose money. Despite the fact that I actually had a certain experience in trading (mostly stocks, just like you), I was really doubting if I should switch to ninja trader. However, after I took the plan profit courses, I actually decided to give it a go, and I do not regret it. Actually, I am really thankful that I found this review https://www.knowledgeeager.com/revie...-profit-review and decided to take those courses, as many people were telling me that it is a useless course.

[jaodaoyq]

Yes of-course, Ninja Trader is perfect, Best wishes for you. Regards

Do you prefer only ninja or both Meta and ninja? Some brokers, offers both platforms.

[patricia70]

a comparison of NT and MT is not meaningful, because NT is a professional trading software whereas MT is more a semi-professional platform.

[geezer101]

Do you prefer only ninja or both Meta and ninja?

I think it comes down to a personal choice, to be honest, and you can always choose a broker which provides the platform you like; both platforms are highly customizable.