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Does anyone have experience with using NinjaTrader platform while using a broker other than what is offered on their webpage? I believe all I would need is a Rithmic or CQG data feed from a brokerage?
I find their commissions very high. I am currently trading Micros and for an MES or MEQ all-in round-turn would be $1.54.
Compared to let's say AMP's .84.
I like their platform, and I have tried many others, Sierra Chart, eSignal, TT just to name a few. I find Ninja easy to use and intuitive. I currently have the free version of Ninja and MZPack indicators.
Thank you in advance for your responses.
Can you help answer these questions from other members on NexusFi?
Anyone can use Ninjatrader as their CHARTING platform w/CQG data feed & use another broker's EXECUTION (DOM) - as you suggest.
Best to just purchase lifetime Ninjatrader license when they offer $300 discount like 2X's per year & your commissions will be cheap enough in the LONG term.
Think of the license as a long-term investment (if you are going to be trading at least 2 years).
The micros are a ripoff everywhere - it's just the way things are.
Actually, the NinjaTrader platform will only work with a broker that NT Brokerage has a business agreement with. It will not permit you to connect to an unauthorized broker. This is precisely to prevent what you are attempting.
The difference between NT and the other platforms you mention is that the NT platform is proprietary to NinjaTrader Brokerage and they want to keep it that way, or to a few others, while the other platforms are available to customers of multiple brokers. It's just a matter of their business model.
As @researcher247 suggests, if you have an NT Brokerage account, you can use it for charting and use another broker's platform for entering trades, if this works for you. It may be somewhat awkward though.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I overlay my DOM (Ninjatrader DOM) just to the right of my data box & both of them are set to 'always on top' - then w/all my Ninjatrader tabs/charts across my screen.
If you find a cheap brokerage w/a custom-sizable DOM that you can 'overlay' somewhere on your screen you can effectively do the same.
Not sure how many other charting platforms w/cheap commissions have a customizable DOM like Ninja's though.
Paying for the NinjaTrader platform to get reduced fees is not reason enough to dish out $1,000 or even $700 is you get the $300 discount. I totally agree that micros are a ripoff. Unfortunately, I ran into a streak of bad luck and am starting over with limited funds. So micros are my only choice until I rebuild my account back up. Even if you bought the Ninja platform and were trading regular ES or NQ you would pay $3.98 all-in round-turn.
AMP all-in round-turn for ES and NQ is $3.770. This is without making and initial investment. I would agree that the customer service at Ninja is 1000 times better than AMPP. But, is it worth $1,000?
As far as Bobwest assertion that you cannot use Ninja for a brokerage unless there is a business agreement. I am currently using Ninja to trade with a LeeLoo account with a Rithmic connection. Maybe they have a business agreement. But, I don't understand how another broker using a Rithmic connection would not work. How would the software know one Rithmic or CQG connection form another?
Because you connect not only to the data provider and trade processor (Rithmic or CQG or TT or whoever), but also to the broker. If you're using Rithmic, for instance, it doesn't just give you a data feed, it passes your trades on to the exchange and returns the trade result, which goes to the broker and to you.
You enter a trade on NT, it goes to Rithmic, lets' say, then Rithmic has to check your account balance to know you have the margin to enter the trade, and then it sends it to the CME's servers. When the trade is entered on CME, Rithmic gets the trade status back, sends it to your broker so they can update your account and to you on NT. All of this involves the trade platform, your broker and Rithmic talking to each other.
It's not just you and Rithmic in a vacuum.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
