NinjaTrader 8 Front End Order Execution Via TWS

[Gerry-N]

Hello everyone

I'm coming off MT4 & would like to explore a more professional platform & 3rd party trading software. I've come to the realisation that I've been trading blind on MT4 because of its obvious limitations. I've done some extensive background reading on ninjatrader & interactive brokers without actually downloading either platform. I'm quite intrigued on how NT actually works on IB-TWS & what the advantages & benefits are over using the stand alone TWS. I'd like to know if it's possible to use NT on the TWS demo platform, if IB's delayed market data or real time data can populate NT' s charts; in a live IB A/c who provides the data feed for NT for both primary & secondary connections, the difference between a demo A/c &. Paper a/c in IB - (perhaps I should direct this question to them)
An in-depth explanation on how NT works as a front end trading software would be greatly appreciated or a link thereof.

Regards

Gerry

[NinjaTrader_DrewO]

Gerry-N,

Thanks for posting.

Interactive Brokers paper accounts can be connected in NinjaTrader and can provide data to charts for in NinjaTrader for instruments the account connection is enabled for. When connected to Interactive Brokers, your data would come from Interactive Brokers unless multiple connections are in use.

The following link will take you to a page that details the steps required for creating a connection to Interactive Brokers and specific connection configuration information.

http://www.ninjatrader.com/ConnectionGuides/Interactive-Brokers-Connection-Guide.php

Below I have provided links to useful publicly available resources to assist in getting started with NinjaTrader 8:

Free Online Training Courses: http://www.ninjatrader.com/webinars.php
Free Video Library: https://ninjatrader.com/support/help...eo_library.htm
HelpGuide: https://ninjatrader.com/support/helpGuides/nt8/en-us/
Training Videos Playlist: https://www.youtube.com/watch?v=CLgb...ZmVnauWXkWe0Nf

[Gerry-N]

Much appreciated DrewO thanks for the help

Rgds

[bortz]

Gerry, I wouldn't recommend NT8 with IB. First off, the market data feed that you can opt into at $4/mo. is laggy and takes a long time for changes between charts. When I questioned IB about the lag, they said that it's due to the speed at which their market data communicates with NT. So right off the bat you're forced to use another more expensive feed, such as real-tick. That cost can add up in a hurry.

Secondly, NT doesn't respond seamlessly with the TWS API. Some stocks require that you place your order price at either a zero in the single digit spot or 5 cent increments. If you violate that protocol and place an order at 4.99, NT will pop up strange message boxes saying that order can't be placed because the order price does not conform to an orderly and efficient market. Complete BS when trying to trade directly off the NT chart and breaks the immersion feel when you have to go back into TWS and figure out whats going on.

On the other hand, NT 7 and 8 have worked without issue with TDA.

My advice is stay far away from using NT8 with IB until they both get their **** together.

[Gerry-N]

Hi Bortz

Thanks for your insights on the inherent faults - if I can call them that - encountered on the NT/IB interface. I am trying as much as is possible to garner whatever information I can on the benefits of using NT on IB. I've yet to download either platform until I am comfortable that from my perspective the Pros outweigh the Cons or where the whole is greater than the sum of the parts.
Since I'm slowly weaning myself off MT4, I'm keeping all options open & exploring other combinations & stand alone platforms. I would dearly love to hear more about other traders' experiences & if this is uniquely an NT8/IB problem. For example was there a similar problem with NT 7.
Once again many thanks for your feedback

Regards

Gerry