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Ninja Trader does have it place, as someone on the thread rightly mentioned... if you're new to trading and have less than $100,000, Ninja Trader serves the purpose of introducing trading to you, but it is by no means a professional platform, as some retail traders argue, and as a result it does have some big limitations that you're going to quickly need to get over once you understand what you're doing.
A full professional setup.... CQG - I pay around $1000 a month for mine with market profile
TT X trader - I pay $1600 a month for X Trader Pro
Reuters - $3000 a month
Dedicated Line - $300 a month
Total: $5900 a month fixed over heads - $70,800 a year fixed over heads.
Now a lot of people in the retail community wouldn't be trading if their fixed over heads were $70k a year, so like I say, Ninja Trader does have its place, but if you're earning money, you want to move on pretty quickly. Put it this way... ever heard of a prop firm or investment bank using NT?
Interesting - that is some major overhead to cover! Obviously you trade for a living so your opinion holds more weight (IMHO).
I would be interested if in one sentence you could describe the edge that your setup gives you over something like NT?
Interesting perspective. I've been looking at things with the 2/20 rule. 2% of your AUM should cover your overhead + base pay. The 20 is whatever benchmark you want it to be (I do xxx basis points over the risk-free rate).
@ 2% of a $100K you are looking at $167 per month.... which is Ninja + extra datafeed.
But then I'm a very conservative guy . FWIW I think a few smaller prop guys use Ninja but with external risk using the TT and PATS modules, for example.
Has your Reuters rep showed you Eikon yet?
EDIT: With my 2% rule I have to keep my day job, BTW.
. FWIW I think a few smaller prop guys use Ninja but with external risk using the TT and PATS modules, for example.