Can anyone tell me what is so good about Ninja Trader? - futures io
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Can anyone tell me what is so good about Ninja Trader?


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Can anyone tell me what is so good about Ninja Trader?

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  #61 (permalink)
 4tison 
PhuKet Island / Thailand
 
Experience: Beginner
Platform: Sierra Chart NT
Trading: ES
 
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Joseph Connors View Post
I would love to see a pic of your setup!

I'd be glad to let you peek, lol.
What is your private channel?

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  #62 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Amp Futures. CQG
Trading: Futures
 
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4tison View Post
I'd be glad to let you peek, lol.
What is your private channel?


What do you mean by private channel?

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  #63 (permalink)
 Investawiz22 
Manitoba, canada
 
Experience: Intermediate
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TWDsje View Post
Well yes you can go through other brokers, but for those looking for brokers that specialize in futures it only makes sense to use Ninjatrader brokerage. Most traders want to do something like Amp or EdgeClear using Rithmic or CQG data. You can only use Rithmic and CQG data through other brokers if you're grandfathered in.

RE: AMP
TWDsje, you seem to be knowledgeable about AMP. If you have had personal experience with them, can you provide a feedback on their business practices. I have heard some negative feedback on them and their business practices.
I have already read a bit about their data breach by third party companies and the ensuing investigations, the CFTC citations and the recommendations given. Thanks in advance.

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  #64 (permalink)
 TWDsje   is a Vendor
 
 
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Investawiz22 View Post
RE: AMP
TWDsje, you seem to be knowledgeable about AMP. If you have had personal experience with them, can you provide a feedback on their business practices. I have heard some negative feedback on them and their business practices.
I have already read a bit about their data breach by third party companies and the ensuing investigations, the CFTC citations and the recommendations given. Thanks in advance.

I'm familiar with the stuff that is going around, but I don't know any more than anyone else. I can only say that it has never had an impact on my trading.

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  #65 (permalink)
 fivewhy 
Fort Lauderdale, Florida, USA
 
Experience: Beginner
Platform: NT8, Bookmap
Trading: ES, MES
 
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TWDsje View Post
I'm familiar with the stuff that is going around, but I don't know any more than anyone else. I can only say that it has never had an impact on my trading.

Not that I'm some expert, but I have never had big problems with AMP. Yes, sometimes the customer support sucks. At best, they don't give clear and complete answers to your questions. At worst, the person you're working with is not very bright. But the thing about AMP is, it's cheap & effective. Nothing more. Well, and they have criminally low intraday margin requirements. But I'm not hating on that.

Bottom line, you either accept AMP for what it is or you don't. They are not EC or S5 or anything like that and never will be. You cannot expect something from AMP that you were never going to get in the first place.

Just my two cents, if I'm wrong then I'm wrong. My apologies.

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  #66 (permalink)
 jeronymite 
Brisbane QLD Australia
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: Forex, Futures
 
Posts: 11 since Jul 2013
Thanks: 3 given, 21 received

Responding to the original post enquiring what is good about NinjaTrader and why one might use NinjaTrader vs other platforms.

I am a long-term user of NinjaTrader (7 and 8). I have a lifetime multi-broker licence. I have also used MT4, thinkorswim and TradingView. I have seen, but not used, other proprietary platforms too.

Some of the things I find favourable about NinjaTrader:
  • The licence. It's free forever, if that's what one wants. The free version does almost everything the licensed version does with just a few exceptions. Because it's free, one can easily choose to use any/all of it in conjunction with any other software one also chooses to use. This can be a powerful combination to get the "best of all available worlds". Note that with the free version, one cannot use live brokerage accounts - one can use simulation accounts and demo accounts only. One must purchase a licence to trade live accounts. For beginners, that is not an immediate issue, since trading in simulation/demo is essential for a significant period of time when starting out. Personally, I prefer outright ownership of things, not subscription, so the full purchase of the licence is my preference. It's a little pricey in some respects, but if one has learned the craft of trading well enough to justify buying any licence, the price of the licence becomes a justifiable expense and should readily be recouped from trading profits, assuming one has truly learned the craft and is not in "excitement mode" and trading live sooner than can be justified from experience and demo results.
  • The charting. Powerful charting capabilities with a good selection of built-in tools and indicators. The ability to link charts based on instrument and interval is very handy.
  • The Scripting. NinjaScript is C# plus built-in NinjaScript capabilities built on C# that make a lot of the actual underlying NinjaTrader code available to be used directly. It is not a "scripting" language for fast strategy or algorithmic development, although it can be used for those too. It is the full C# / WPF capability plus additional programmable trading capability including a significant amount of the NinjaTrader underlying code, exactly the same as is available to the NinjaTrader developers. Not all of the underlying code can be used, for obvious reasons, but that which can is extremely powerful.
  • The Scripting (again). NinjaScript AddOns are extremely powerful tools. They require programming expertise, so they are not for everyone, but if one has the capability to program C# / WPF, the AddOns offer "unlimited" scope to the imagination to design and build virtually any trading application one wants using all the power of the underlying platform. I am a Software Engineer with decades of programming experience, so I am not "everyone" in that respect. I have written Strategies, Indicators and AddOns that let me trade in exactly the way I want. I can trade multiple accounts, instruments and orders simultaneously from an interface that makes it simple, safe and reliable. That's the way I wanted it; that's the way I wrote it; that's the way I use it.
  • The Scripting (one last time, I promise). Editing NinjaScript code is made even more powerful in NT 8 by the addition of the ability to use Microsoft Visual Studio to edit and develop NinjaScript modules.
  • Flexibility. Out-of-the-box very configurable to present things exactly how I want and with the settings I want.
  • ATM (Advanced Trade Management). Traders who cannot or would prefer not to code do not have to. The NinjaTrader ATM strategies can be setup to do a lot of advanced trade management, just as the name says.
  • ChartTrader. Reliable trade management right on the chart with good visual displays of active and pending orders.
  • Brokerage/Market Data. This is not strictly a NinjaTrader matter in and of itself, but is obviously closely related to NinjaTrader and the brokerage/data feeds available for use on the platform. One does not have to use NinjaTrader Brokerage. The list of available brokers/data feeds is not large, but it does include major brokerage firms. You can find a partial list here: https://ninjatraderecosystem.com/brokers/ I have used several of the firms, including NinjaTrader Brokerage, and I find NinjaTrader Brokerage to be very competitive. My full licence entitles me to use any of these brokers/data providers: Barchart.com, CityIndex, Coinbase, Continuum, CQG, cTrader, E-Signal, FOREX.com, FXCM, Interactive Brokers, IQFeed, Kinetick, NinjaTrader Continuum, NinjaTrader FXCM, OandA, Rithmic, TD AMERITRADE. Others are also available apparently, but I have had no need to enquire.
  • Playback. One can record live market data and use it in playback to test any trading approach one likes.
  • Market data. I use the free NinjaTrader Forex market data feed. One has to renew the subscription each month, but it's free and very useful.
  • Simulation and Demo Accounts. I can create and use as many simulation accounts as I want. I can also connect to as many brokerage demo accounts as I want. This can be done in the free version as well as the licensed.
  • Documentation. The online documentation is very good and includes more than just a reference guide to the NinjaScript language. It genuinely tries to make use of the platform straightforward for all different levels of trader/user, from absolute beginners to professional traders. It provides "how to" information with "why to" and "when and when not to". (Bear in mind, this is platform documentation, not "learn how to trade" documentation. For that, you rightly must look elsewhere.)
  • Support. I have always found NinjaTrader Support to be responsive and helpful. One sometimes has to "navigate" standard responses on some types of matters, but I've always ended up with a resolution. Support can be via email or the Forum, both of which serve usefully. For particularly "tricky" matters, NinjaTrader Support will even arrange a support session via telephone and screen sharing app.
  • Ecosystem. When I want to see what other NinjaTrader users have created to advance their trading, I can refer to the NinjaTrader Ecosystem website (https://ninjatraderecosystem.com/) and find many useful additions to the platform. Many any free (although there are pay-to-purchase ones too) and many also come with source code that can help to enlarge one's own code base of available functionality.
  • Strategy Wizard. I started using NinjaTrader with the Strategy Wizard. As a Software Engineer, I quickly moved to using NinjaScript, but for those with no programming skills, the wizard can be very useful.
  • Automated Trading Interface (ATI). This is something I have not used, but, according to the documentation, it may provide a useful form of interaction for users of TradeStation, eSignal, NeoTicker, and Investor RT, amongst others. As I said, I have no experience of this, but it may prove useful for others.
  • Many other things, but the selection above is a good start.
Some of the things I find less than favourable about NinjaTrader:
  • Brokerage. The list of available brokers is not large, even though it does include major brokerage firms. Having to renew subscriptions to free data feeds is a trivial matter, but just slightly irritating. Also, free data feeds for non-Forex are limited and not easily renewed. As a Software Engineer, I want data feeds for all varieties of instruments that do not expire, since my development efforts are ongoing across years.
  • WPF. NinjaTrader 8 is programmed in C# and WPF. I am very happy to extend NinjaTrader this way, but having used WinForms for years with NinjaTrader 7, the transition to WPF has been a rather steep learning curve; however, the benefits of NinjaTrader 8 have made it absolutely the right move, and the things I can do in 8 vs 7 are immensely greater. So, a mixed blessing initially that has proven extremely useful.
  • Support. Excellent support generally, but sometimes, as a Software Engineer knowing what I know and having been using the platform (7 and then 8) for a decade or so, I just occasionally have to convince Support that I know what I'm talking about and the issue I face is not the interpretation they may have. I have always been able to obtain a resolution, but sometimes the process can be a bit awkward.
  • Development. Although NinjaTrader is very open to adding new features and they will readily formalise new feature requests, there is no transparency as to features being worked on or progress of feature requests. I would prefer a more transparent approach. I understand the NinjaTrader approach, but I think it is not particularly helpful for their user base and probably generates a lot of duplication of enquiries and responses, as well as frustration in the user base.
  • NinjaScript Editor. It's good to have an embedded NinjaScript Editor ... but it is in need of some significant work to make its behaviour more "user friendly". It has "idiosyncrasies" that one should not see in a professional-grade editor. For example, as of NinjaTrader 8.0.22.1, editing more than one module in separate tabs in the editor is easy, but if one switches between tabs, when returning to a previous tab one finds the placement of the cursor to be "stuck" in a location far from where one was last editing in that tab. This is just the most annoying of the aberrant behaviours. There are quite a few more, all of which I have made NinjaTrader Support aware.
  • Documentation. Although generally very good, some of the documentation is sparse on some matters, and occasionally could have benefited from closer proof-reading before publication. Nevertheless, NinjaTrader Support is always grateful for making them aware of any such issues and will fix them.
One last perspective. Trading is a mixture of science, art and craft (and probably other things too). It must be researched, learned, practised and continually refined. It requires many things to be able to do it well, only one of which is the platform(s) one uses to trade. Try a variety of platforms to see which one(s) suit your style of trading, your functional needs, your budget, and your personality. Then use it for a while to see if it suits you. You may end up using more than one platform for various reasons in various contexts. That's fine, so long as there is good sense in that and it is not simply over-complicating things for the sake of "more must be better"! Any tool one uses (and the trading platform is nothing more than a tool!) must contribute value to your trading activities. In the end, choose the platform(s) that suit you and most enhance your trading.

I hope this provides some additional input to the thinking on this matter.

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  #67 (permalink)
 hyperscalper 
boise idaho
 
Experience: Advanced
Platform: NinjaTrader C# Custom
Broker: NinjaTrader LeeLoo Rithmic
Trading: Nasdaq Futures NQ/MNQ
 
Posts: 256 since Apr 2020
Thanks: 14 given, 341 received

After doing some significant high performance, multi-threaded C# work
in NinjaTrader 8, I'd like to add my view and agree with most of you
who are knowledgeable that NT8 is AWESOME.

Support for even complex coding issues is always forthcoming, and
the freedom within the platform to code whatever you need; is indeed
without any competition, I'd say. Far beyond their NinjaScript facility
you can write full blown compex C# systems packaged as an assembly
DLL to do almost anything you could possibly need; if you have that
skillset.

I'm a Java programmer, but most of my existing code can easily be
adapted to C# which is fundamentally a ripoff of Java, so that makes
it so easy for me, despite the steep initial learning curve of such a
capable platform.

I am at NinjaTrader brokerage, of course, but settled on their Rithmic
Order Entry and Data; and that provides just about everything imaginable
that I could want; given the right code to support the trade strategies.

But if you are just a user of the platform; and not coding heavyweight
indicators or strategies; then you may find lots of other platforms to
your liking; but for a hardcore "hacker" of advanced indicators
and strategies, including automation; then I'd say NinjaTrader is
the most powerful, and developer-friendly place to be, for Futures
trading.

Attacking something like Nasdaq futures requires a very powerful and
quick platform, and NinjaTrader really delivers.

hyperscalper

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  #68 (permalink)
 Tulips 
Hollywood, FL, USA
 
Experience: Advanced
Platform: NinjaTrader
Broker: TradeStation, NinjaTrader, Interactive Brokers
Trading: eMinis, Stocks
 
Posts: 8 since Oct 2019
Thanks: 3 given, 17 received

I used TradeStation, MultiCharts, ThinkOrSwim, Trader Workstation (Interactive brokers), and now completely hooked to NinjaTrader. Yes, I was able to envision and develop my indicators set on TOS, but it was easy to find it back (even better) on NinjaTrader. NinjaTrader visuals are MUCH easier on the eye, clean, a normal, not fucked up accounting like TOS (I hate their way of calculating, I think it is super misleading and crooked), Ninja Accounting is very similar to MultiCharts which I like as well, but I have to give Ninja the better User Interface. I think MC got a bit out of whack when they tried to do also C#, it is better to be master of one than Jack of all trades (pun intended)

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