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New to trading, need a little guidance.


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New to trading, need a little guidance.

  #1 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
Posts: 533 since Jun 2012
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Hello everyone,

I'm new to the forum here and also new to the futures markets. I'm in the process of setting up a brokerage account and choosing a trading platform. After reading several threads here, I've decided on Velocity Futures and Ninjatrader.

I chose Ninjatrader mainly because I wanted an easy way to sim trade. Since I have a full time job the market playback feature really appealed to me. Anyways, my question has to do with historical data. It's my understanding that both Velocity and Ninjatrader will not give me access to historical data. I realize you can record market data with Ninjatrader to play back later, but I'd rather not leave my computer running all night while I'm at work.

Am I able to purchase a data subscription from someplace like Kinetick or IQfeed that will give me access to historical data and then link that up with Ninjatrader? Will Ninjatrader use both the Trading Technologies feed from Velocity and a secondary feed at the same time? I'm a little confused as to how it works. Please excuse me as I know this is a pretty basic question but I wasn't able to turn up much with the search.

TheShrike

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  #3 (permalink)
 
GridKing's Avatar
 GridKing 
San Diego, CA USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
Posts: 3,630 since May 2011
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I've never used Velocity , but if no historical data at all, seems like better options exist , starting out with high overhead can add up ....

Also, most brokers with software and standalones offer trials , if new to trading and not setup yet, I would try as many as possible and use the time and opportunity to try and test and see what is best for you.... jmo

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  #4 (permalink)
 
Tasker_182's Avatar
 Tasker_182 
Cedar Rapids, iowa
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninjatrader
Broker: Ninjatrader - Continuum
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You can download replay data for free. In the control center, select File>Utilities>DownloadReplaydata...

next you will get a pop up Ninja window titled "Download replay data", in that window select the instrument and date to download.

Once the download has completed you can the do File>Connect>Market Replay connection. From there you move to the date to show.

Go to Ninja support to see videos on this.

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  #5 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
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Thanks Given: 1,588
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Thanks for the push in the right direction guys. I'll go check out those sites and see what I can come up with. All of the different brokers, platforms, and data feed options are kinda confusing for someone just getting into this. Thanks again.

Schmidty

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  #6 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
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Kinetick is NinjaTrader only, their version of IQFeed. If you never plan to use anything other than NinjaTrader, then Kinetick will save you money.

Kinetick or IQFeed are the way to go for data. You can also find some savings as an Elite Member here on NinjaTrader, Velocity and IQFeed:

https://nexusfi.com/elite_partner.php

Mike

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  #7 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
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You might want to check this software provider:
Investor/RT - Market Data Sources

They propose a non-streaming intra-day or end-of day (backfill only) solution for their platform named DTN-Market-Access ($15/month). I am not sure if a similar solution is available for Ninja through Kinetick.

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  #8 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
Posts: 533 since Jun 2012
Thanks Given: 1,588
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Thanks for the links guys. I'll check them both out. Really cool that the forum is able to team up with some of the vendors to offer the members here a little savings. I've decided to pull the trigger and go with Velocity. Still undecided on platform, but I suppose I could demo a few and just see which one I'm the most comfortable with.

Mike, I know you're a big proponent of starting a trading journal. Do you think there would be any interest in a journal written by someone completely new to trading?

Schmidty

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  #9 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,443 since Jun 2009
Thanks Given: 33,217
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Schmidty View Post
Mike, I know you're a big proponent of starting a trading journal. Do you think there would be any interest in a journal written by someone completely new to trading?

Only if you want to improve your trading.

Mike

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  #10 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
Posts: 533 since Jun 2012
Thanks Given: 1,588
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Ha! Good answer!

Schmidty

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Last Updated on January 13, 2018


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