sam, you wrote "a backup machine is mandatory imho. A basic laptop is enough, but you should be able to quickly close your positions is something goes wrong with your main workstation."
I was told that the info on orders is local to a single computer so that even if I have a licensed NT on another computer I would not be able to close a position from that computer should the one where the order was placed become unavailable. Would you clarify please?
I understand that the orders are at the exchange (except for "synthetic" orders), but the interface may or may not be designed such that that information is available.
So if I put an order in on computer A which got filled and is still an open position and that computer goes down or NT freezes up, I could start up NT "live" license on computer B, the interface will "see" that position and reflect it in the DOM and / or Control center position tab? What about pending orders that were submitted on Computer A... will I see them on the new instance of NT on Computer B?
I can answer the 2nd part for pending orders, those will be visible. When Ninja connects it gets your open orders and shows them on the DOM and order tab.
As for an open position, I'm pretty sure it gets this information from the broker so it should work as well (assuming a real account, not sim). When I place orders using IB's TWS they show up in Ninja.
You can ask at the ninjatrader forums for confirmation.
Finally, you can connect to your broker's website and check your position information there. I used to do that all the time when I was running automated strategies. To make sure Ninja was in sync. I don't remember it ever being out of sync.
PS: I never really thought this to be a big deal because I have stops & targets so if my computer went down I don't feel any pressure about my open trades. I do stress out about missing a trade that I was waiting for.
Ninja rarely crashes while trading and almost every time it's cause i'm doing something I shouldn't. SO now I try to keep it simple while trading (no backtesting while trading, very little programming, etc.)
The idea of the Computer B, is having an emergency solution for closing open positions, because Computer A is dead.
So you just need a web browser (most brokers provide a web interface to your account), you don't need Ninja, or another "complex" software.
Usually in trading, those who know don't talk, and those who talk don't know. (Al Brooks)
success requires no deodorant! (Sun Tzu)
Mirus doesn't prove a web interface, but you may be able to call them to close a position. Or just place an opposite position with another broker but you have to be careful cause if your original position is closed you don't want to end up long or short..
B should have everything A has. Then ask Ninja for another license so you can have B on at the same time A is on. When A dies all you have to do is switching B from a connection with B license to the connection with A license.
Last edited by cory; November 20th, 2009 at 11:44 AM.
I've asked about a 2nd license, they said no, but you don't need two to do what you suggest. You can use a single license on as many computers as you want but you can only be connected on one at a time.
I have a little notebook set up with ninjatrader and I restore my backups there once in a while. So if something happens I could turn it on (or keep it on if you're paranoid).
If you scalp, I wouldn't worry about, worse is you get stopped out.
If you swing trade, 5 minutes isn't going to make a big difference.
So I can say in over 1 year trading with Ninja, I have never had this problem.