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Ninja and Interactive Brokers


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Ninja and Interactive Brokers

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  #1 (permalink)
Nepean, ON
 
Experience: Advanced
Platform: Ninjatrader
Broker: interactive brokers
Trading: es
 
Posts: 25 since Sep 2009
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I have been using Ninja Trader to paper trade futures for a few months, and am now trading real money directly with Interactive Brokers. I have been considering buying a license to use NJ for live trading, (so I can utilise ATM strategies) but am debating the cost and have some concerns.

I wuld appreciate some feedback from anyone usng Ninja, in partcular with IB. I know there have been some issues, but it doesn't appear the problems posted would affect me.

My main concern is with order entry, if I place an order through Ninja using an atm strategy which includes trailing stops, and subsequently have an issue, i.e. computer freezes, lose internet connection. Will my initial stops have been placed with IB? It seems that would be the case from what I have read on Ninja's page, but I am looking for confirmation, as well as any other input.

Thanks to all in advance, and thanks to everyone on this forum for the great information.

Dale

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  #2 (permalink)
Waterloo
 
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You should be fine. Once the initial order filled, the ATM orders(stop,etc) will be placed in IB and then if there is an issue at your end, your ATM orders will still be there in IB.

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  #3 (permalink)
Paris, France
 
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dale1670 View Post
My main concern is with order entry, if I place an order through Ninja using an atm strategy which includes trailing stops, and subsequently have an issue, i.e. computer freezes, lose internet connection. Will my initial stops have been placed with IB? It seems that would be the case from what I have read on Ninja's page, but I am looking for confirmation, as well as any other input.

Are you wanting Ninjatrader for the DOM? Or the chart trader? I think it's great for both of these.

I have multibroker and use Ninjatrader with Zenfire mainly but I've used the DOM with IB and it worked fine. Stops are held on the server. Ninjatrader does crash and even more often it just kind of freezes for 30 seconds. My stops have always worked as expected even when Ninjatrader is frozen (happens usually when there is a lot of market activity, like around news time).

Are you trading stocks or futures? If futures I highly recommend zen-fire. If you're daytrading stocks then it's ok, but if you hold overnight you have to deal with the IB disconnects.

Hope that helps..

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  #4 (permalink)
Nepean, ON
 
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Broker: interactive brokers
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Thanks nobody, that's what I thought but was looking for confirmation.

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  #5 (permalink)
Nepean, ON
 
Experience: Advanced
Platform: Ninjatrader
Broker: interactive brokers
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Posts: 25 since Sep 2009
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Thanks Cunparis, I am mainly trading futures with IB, I don't hold anything overnight. I have other accounts that I trade stocks and options with. I opened the IB account to keep the option of trading Forex etc. as well as futures. The DOM is great but the main interest I have in Ninja is the atm features, it just doesn't seem nearly as effective to manage trades using the TWS from IB. For example buying 2 contracts, taking one off with one point, moving remaining stop to b/e and trailing it, to let it run.

Thanks again,
Dale

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  #6 (permalink)
Paris, France
 
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dale1670 View Post
Thanks Cunparis, I am mainly trading futures with IB, I don't hold anything overnight. I have other accounts that I trade stocks and options with. I opened the IB account to keep the option of trading Forex etc. as well as futures. The DOM is great but the main interest I have in Ninja is the atm features, it just doesn't seem nearly as effective to manage trades using the TWS from IB. For example buying 2 contracts, taking one off with one point, moving remaining stop to b/e and trailing it, to let it run.

Thanks again,
Dale

Ok I was calling the ATM the DOM since I do it all in the DOM. I agree, I couldn't trade without the DOM. And in using the DOM i'm learning to read the tape rather than look at charts. I do both but I'm getting better and seeing support & resistance on the DOM.

I have thought about doing Forex but no one recommends IB and I'm not sure why. For now I prefer futures for Euro. 1 pip spread is nice and no head games with the broker. But I'd like to trade some other pairs. Maybe. Eventually.

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  #7 (permalink)
Nepean, ON
 
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How do you use the DOM to detrmine support/resistance? If you see larger numbers at a certain level?

Thanks,
Dale

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  #8 (permalink)
Paris, France
 
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dale1670 View Post
How do you use the DOM to detrmine support/resistance? If you see larger numbers at a certain level?

When you see price move up to a certain level and then back off repeatedly. For small levels it's easier to see it on the dom (like intrabar) but for larger levels it's easier to see it on a chart.

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  #9 (permalink)
Nepean, ON
 
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I see it do that all the time when it gets to my profit target, However it seems to punch through my stops without any trouble.

Thanks Cunparis

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  #10 (permalink)
Netherlands
 
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dale1670 View Post
I have been using Ninja Trader to paper trade futures for a few months, and am now trading real money directly with Interactive Brokers. I have been considering buying a license to use NJ for live trading, (so I can utilise ATM strategies) but am debating the cost and have some concerns.

I wuld appreciate some feedback from anyone usng Ninja, in partcular with IB. I know there have been some issues, but it doesn't appear the problems posted would affect me.

My main concern is with order entry, if I place an order through Ninja using an atm strategy which includes trailing stops, and subsequently have an issue, i.e. computer freezes, lose internet connection. Will my initial stops have been placed with IB? It seems that would be the case from what I have read on Ninja's page, but I am looking for confirmation, as well as any other input.

Thanks to all in advance, and thanks to everyone on this forum for the great information.

Dale

Hi Dale,
I use NinjaTrader(Simulation Version) with IB account. For orders, I use Bracket Trader.
Bracket Trader uses the feed of IB and it works perfect. You can download a version for free , which can handle 1 or 2 instruments.

Jaap

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  #11 (permalink)
Nepean, ON
 
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Trading: es
 
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Jaap8242 View Post
Hi Dale,
I use NinjaTrader(Simulation Version) with IB account. For orders, I use Bracket Trader.
Bracket Trader uses the feed of IB and it works perfect. You can download a version for free , which can handle 1 or 2 instruments.

Jaap

Thanks for the info, I will look into it this weekend and see. Have you had any issues I should be aware of?

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  #12 (permalink)
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I had been using IB for futures trading and found that trading during news times was difficult because IB filters their data. I called and asked detailed questions and sure enough they admitted they filter their data and said they are not best for trading around the news events. They are fine for all other trading if you don't require tick by tick data. In fairness it is nice to trade stock options and futures all from one account, but i opened a new acct for futures trades because of the filtered data. Additionally futures only brokers offer better commissions than IB, they are very high relative to other brokers who offer a better data feed.

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  #13 (permalink)
Market Wizard
Berlin, Europe
 
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record100 View Post
I am trying to use range bars using IB. What exacly will be wrong with the charts?

Range bars are built from ticks. Interactive Brokers does not have historical ticks so you won't get range bars on historical charts. You cannot backfill your charts, but need to leave your PC running 24/24.

On real-time charts Interactive Brokers has condensed ticks. As a consequence on high resolution range chart there may be missing some bars.

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  #14 (permalink)
Toronto, CA
 
Experience: Intermediate
Platform: NT
Broker: IB
Trading: YM, ES
 
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Fat Tails View Post
Range bars are built from ticks. Interactive Brokers does not have historical ticks so you won't get range bars on historical charts. You cannot backfill your charts, but need to leave your PC running 24/24.

On real-time charts Interactive Brokers has condensed ticks. As a consequence on high resolution range chart there may be missing some bars.

I have attached 2 charts. One is built using tick data from NT replay file, another historical data recorded during IB session.
There are differences. But IB chart is pretty good approximation (in this case), visually it is about 99.9% correlation?
My guess, that on average, it should not be much different which chart to trade. It could have much importance for high frequency systems, small range bars, etc., but again, dealing with uncertainty when making trading decision, it should not impact final result over the period of time when having data only as accurate as 99.9%. Sorry, it is speculation on my side, may be somebody statistically proved different.
Not having historical data from IB for range bar charts - it is a problem. May be you could advise if it is possible convert NT replay data into historical?

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  #15 (permalink)
Market Wizard
Berlin, Europe
 
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record100 View Post
I have attached 2 charts. One is built using tick data from NT replay file, another historical data recorded during IB session.
There are differences. But IB chart is pretty good approximation (in this case), visually it is about 99.9% correlation?

Can be used for trading, but it is not 99.9 % correlated. There are lots of bars missing with IB due to the condensed ticks, which are transmitted.


record100 View Post
Not having historical data from IB for range bar charts - it is a problem. May be you could advise if it is possible convert NT replay data into historical?

To save real-time data as historical go to -> Tools -> Options -> Data and select "Save chart data as historical".
If you do this with Interactive Brokers, you will get some low quality historical tick data with some holes, as you will possibly not be able to run your PC 24/24.

Better pay yourself a decent data feed.

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  #16 (permalink)
Netherlands
 
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IB can be used 24 h a day. You must reset the log off time to an earlier time.
For example: log off time 11.50 PM, time at the moment is 11 PM, then reset to 10.30 PM.

When 11.50 PM is passed, you can reset to original setting. That has to be repeated every day, if you need data 24/7.

Jaap

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  #17 (permalink)
Bala, PA, USA
 
Experience: Intermediate
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Broker: Mirus, IB
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Fat Tails View Post
Can be used for trading, but it is not 99.9 % correlated. There are lots of bars missing with IB due to the condensed ticks, which are transmitted.



To save real-time data as historical go to -> Tools -> Options -> Data and select "Save chart data as historical".
If you do this with Interactive Brokers, you will get some low quality historical tick data with some holes, as you will possibly not be able to run your PC 24/24.

Better pay yourself a decent data feed.

Depends also on your trading method and data requrirement. I trade some ETF's with IB, and save their real time data with NT, but I don't need 24 hour data, I start trading on New York Open, and don't need much history to take scalping entries, so I start my charts around one hour before the open to get enough bars on the chart for my indicators to settle in.

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  #18 (permalink)
Bala, PA, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus, IB
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nobody View Post
You should be fine. Once the initial order filled, the ATM orders(stop,etc) will be placed in IB and then if there is an issue at your end, your ATM orders will still be there in IB.

Only your most recent stop and targets will be at IB. If your ATM does things like customized multi-step trail stops, volume trigger, target chase, and other advanced or customized ATM functions, those will not execute, if your PC looses connection.

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