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The Cost of Ninjatrader
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The Cost of Ninjatrader

  #41 (permalink)
Site Administrator
Manta, Ecuador
 
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Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Moderator Note


I have banned KosherTrader. I have a hard time believing he was here for any reason except to cause trouble, and I have now put an end to that.




Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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The following 3 users say Thank You to Big Mike for this post:
 
  #42 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
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Big Mike View Post
Moderator Note


I have banned KosherTrader. I have a hard time believing he was here for any reason except to cause trouble, and I have now put an end to that.




Mike

Yeah, I guess so. Didn't seem very interested in trying to improve himself in becoming a better trader or helping others become better, just wanted to complain a lot.

I'm sure he'll find a nice home at Elite Trader.

Move on...

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  #43 (permalink)
Elite Member
Cedar Rapids, iowa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader - Continuum
Favorite Futures: 6E, TF, 6J
 
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Posts: 626 since Aug 2009
Thanks: 426 given, 1,126 received


He was a pot stirrer for sure.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #44 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received

I think Ninja trader should just get rid of the free version all together if they don't allow ocos because it's dangerous to not trade with out a stop-loss. The majority of people who don't want to pay are probably newbies who might think it's okay not to use a stop since it isn't provided either. Anyways, all reliable trading software cost money because money is necessary to upkeep the software and pay for tech support. You just have to pick the best of the evils. Sierra chart's package 3 is probably a cheaper choice for what Koshertrader is trying to do with Al's method. NT is better suited for automated trading if I'm not mistaken.


Last edited by Itchymoku; October 24th, 2013 at 09:41 PM.
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  #45 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Optimus
Favorite Futures: TW
 
Posts: 693 since Jun 2009
Thanks: 440 given, 440 received

I think he was focusing on the wrong part of his trading. A VPS from @Sam28 and monthly Ninja license will set you back $120 a month. Much less than a monthly X_Trader license. Much, much less than what desk fees cost back in the day.


I remember talking about fees to a hedge fund manager years ago, and this is the gist of it. 'Do I care about the fees? Yes, but I care about the net more. Fees only matter in the absence of value' He is not generating an edge ( value ) so fees matter to him. Once you have proven your edge to yourself, I don't think anyone would complain about $120 a month. Until then, stick to SIM or head over to Micro FX where the platform (MT4) is free.

Math. A gateway drug to reality.
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  #46 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
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Posts: 46,240 since Jun 2009
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It's like a professional dentist that wants free office space, free advertising, and free staff -- to save money, instead of spending on those items that are crucial to his success.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #47 (permalink)
Elite Member
Cedar Rapids, iowa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader - Continuum
Favorite Futures: 6E, TF, 6J
 
Tasker_182's Avatar
 
Posts: 626 since Aug 2009
Thanks: 426 given, 1,126 received


Itchymoku View Post
I think Ninja trader should just get rid of the free version all together if they don't allow ocos because it's dangerous to not trade with out a stop-loss. The majority of people who don't want to pay are probably newbies who might think it's okay not to use a stop since it isn't provided either. Anyways, all reliable trading software cost money because money is necessary to upkeep the software and pay for tech support. You just have to pick the best of the evils. Sierra chart's package 3 is probably a cheaper choice for what Koshertrader is trying to do with Al's method. NT is better suited for automated trading if I'm not mistaken.

Just to be clear, with the direct edition (free) you can place stop orders along with profit targets manually. At the end of the trade, stop out or profit filled, you manually cancel the remaining order.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #48 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
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Tasker_182 View Post
Just to be clear, with the direct edition (free) you can place stop orders along with profit targets manually. At the end of the trade, stop out or profit filled, you manually cancel the remaining order.

When I was trading with amp a couple years ago the free version allowed oco. (I can't remember if it came with amp or if it was just part of the free version.) Later, I remember a while back after NT7 came out I hooked my account up to NT direct edition and couldn't use the ATM portion so I called the broker and he said that I'd have to manually exit out of the trade where ever price was at that moment. Are you saying that after I enter a trade I can then place a stop loss at a certain price and leave it there so when price comes to it I won't have to do anything but wait for price to hit the stop loss and then cancel my limit?


Last edited by Itchymoku; October 24th, 2013 at 10:52 PM.
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  #49 (permalink)
Elite Member
Cedar Rapids, iowa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader - Continuum
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Posts: 626 since Aug 2009
Thanks: 426 given, 1,126 received


Itchymoku View Post
.... Are you saying that after I enter a trade I can then place a stop loss at a certain price and leave it there so when price comes to it I won't have to do anything but wait for price to hit the stop loss and then cancel my limit?

Yes as morbid as that sounds... Same is true if your profit target is hit, you then cancel the stop order.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #50 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
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Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received



Tasker_182 View Post
Yes as morbid as that sounds... Same is true if your profit target is hit, you then cancel the stop order.

Sounds like a nightmare waiting to happen lol

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