As a newbie to ninja trader I was wondering which data provider I should use to get a daily market feed (cost is an issue) while in simulation mode.
Also should I conceder a change in data providers when I switch to real-time trading.
Personally I would go with Mirus Futures. They offer Zen-fire. You need $2,500 to open an account, but not to maintain it. You get data feed for almost all futures markets free, no charges or fees as long as you want. Also, you don't need to change when you're going to trade live. Mirus has very fast executions, probably the best I've seen. Plus they have low $500/contract intraday margins. Also if you sign up with Dorman Trading, they give you a free live license for live trading (minus ATM strategies), so no need to buy or lease Ninjatrader.
Hi, could you please elaborate - how do you open account with Mirus through Dorman Trading. Are you setting up the account with Dorman or Mirus? Which is first? Who is the broker then - is it Mirus or Dorman?
I am a bit confused so would be great if you could explain it a bit more.
Mirus Futures is the broker. Dorman trading is the clearing firm. You can acutally choose between Dorman Trading or Rosenthal Collins Group, I just have Dorman and I've had no issues with them. When you go to Mirus Futures website and open an account it gives you the option.
When you sign up with Dorman they give you a free license to trade live, so you don't have to pay for NinjaTrader. The problem is becasue it's free it disables the ATM, and the edit ninjascript function. You can solve the edit problem by just using a sim key. If you use the ATM then you will need to lease the software or just buy it.
Hi, recenly I was recommended to use zen-fire. Friends made tests and it is comparable with good commercial data feeds and it is free. For me it was great discovery. Till then, I'd always had issues with data sources and manipulation (I'd used IB's data feed for simulated data and for downloading historical data - only for active contract are available on IB).
One more thing - my opinion is limited expensions when backtesting and papertrading (sim trades) and controlled expensions when go live - saving some money (comparable with one single stop loss) for large effort does not make sense for me
If you don't need the ATM strategies then it's better to go with the option that waives the license fees... however, keep in mind that ATM strategies allow you to place a stop alongside your order with a single keystroke, and can be useful if you trade fast-moving markets on a short time frame. If you trade something that moves relatively slowly, I wouldn't bother with it as you can just place the stops manually yourself.