NinjaTrader now has built-in Risk Management Settings!
These settings only recently appeared in March 2023, but I just became aware today. It seems that for years many people have been asking for Risk Management for NT8. It is rather hidden though, so I imagine most NT users are unaware of it like I was, hence this share.
The Risk Management Settings are not located in the desktop platform. They are activated on the broker side – NinjaTrader Brokerage. They are located in the Account Dashboard which we login to via the web at: https://account.ninjatrader.com:443/
You login with your account info, click on the blue-colored circle in the upper-right corner, which brings a dropdown menu. In the dropdown menu, click on Settings. Once in Settings, under your account number, click on Risk Settings. There are 6 options, plus a lockdown.
Daily Loss Limit
Weekly Loss Limit
Daily Profit Trigger
Weekly Profit Trigger
Lock risk settings if trading locked
End-of-Day Trailing Max Drawdown
Real-Time Trailing Max Drawdown
Apparently, when risk settings are hit, open positions are liquidated. You can read more here:
Personally, I need Risk Management. I am trying the Real-Time Trailing Max Drawdown risk setting.
The only way I found out about these new Risk Management Settings is I was searching the web for risk management for NT, and then emailed NinjaTrader asking if they had anything. I was pleasantly surprised at their reply that NT does have Risk Management because I found nothing on the web. It is very new, just became available in March 2023.
Hope this benefits everyone, especially me!
(I have a lifetime license from NinjaTrader since October 2020. I am still running NT 8.0. Not planning on changing to 8.1 anytime soon. I am also getting familiar with Sierra Charts, have a Stage5/Advantage account setup, but not yet trading with SC, not comfortable yet.)
The following 6 users say Thank You to Liberty88 for this post:
Man... This is EXACTLY what I need. Thanks for posting this. I've blown up too many darn evaluations accounts to count. I'm too emotional and too impatient. This will help tremendously. Thanks again!
I agree Risk Management is a MUCH NEEDED feature for the NinjaTrader platform.
However, you mention you are using evaluation accounts - which are simulated trading. I don't have a lot of experience with evals, but I believe simulated evaluation accounts do not go through NinjaTrader Brokerage. These Risk Management Settings are only available inside of your NinjaTrader Brokerage account, which is a live money account. These settings are not available even with native NinjaTrader simulated accounts. You cannot access this in the desktop platform itself, only throught the brokerage.
If I am wrong and you find a way to use risk managment with a simulated or evaluation account, please let us know.
At present I know of one aftermarket add-on for Risk Management for NinjaTrader 8. Maybe this will work for simulated or evaluation accounts.
Again, please let us know... https://clickalgo.com/ninjatrader-risk-management
I am not promoting this clickalgo, it is just the one I was considering using until I got a reply from support at NinjaTrader showing me that they recently added Risk Management Settings to their live accounts through their NinjaTrader Brokerage.
