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Trade mangement suite from Indicator Warehouse


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Trade mangement suite from Indicator Warehouse

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  #1 (permalink)
 fish 
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Anybody have any experience with Indicator Warehouse's revised Trade Manager suite? Its expensive but offers many attractive features, imho. Thanks in advance.

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  #3 (permalink)
 NW27 
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Do you have a link?
What platform is it for?

Regards,
Neil.

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  #4 (permalink)
 Daytrader999 
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I think he's talking about this one: Trading System Add-Ons | Indicator Warehouse | Day Trading Software, Systems and Indicators | Ninja Trader

The Trade Manager is for Ninja Trader only.

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 terratec 
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fish View Post
Anybody have any experience with Indicator Warehouse's revised Trade Manager suite? Its expensive but offers many attractive features, imho. Thanks in advance.

This is a strategy. After you are in a position you can not move stops and targets the way you can do it in chart trader. Does this fit your trading style?

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  #6 (permalink)
 fish 
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Here's the link: Trade Manager | Day Trading Software | NinjaTrader Day Trading

It was not clear from the video that you can't move stops/targets once you're filled.

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 monpere 
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fish View Post
Anybody have any experience with Indicator Warehouse's revised Trade Manager suite? Its expensive but offers many attractive features, imho. Thanks in advance.

If what you are looking for is an indicator to help you with Van Tharp Risk Multiple position sizing, I can probably save you $1000 by referring you to the TradeRuler indicator here on futures.io (formerly BMT)

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 JustinIsHere 
Montreal, Canada
 
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terratec mentioned that you cannot move your stops the way you can in chart trader. I don't know about the targets, but this video shows that you can move your stops just like in chart trader once you are in a trade.
Link to video: See Trade Manager in Action | NinjaTrader Money Management Tool - YouTube He's also showing how to use an SMA trailing stop.

Full playlist for Trade Manager by Indicator Warehouse: Trade Manager for NinjaTrader - YouTube

I don't know about their Day Trading Systems (The Eagle, Falcon, and Hawk), but the Trade Manager has really nifty options in terms of how to manage your trades once they are live. I'm still not sure to get it or not though. I came here looking for some feedback.


Disclaimer: I found out about them via a webinar they made for Mirus Futures (https://ninjatrader.com/) which appeared on Thursday, March 7, 2013

He does mention Trade Manager in the webinar and what got me interested into looking into it was the idea of using an indicator (such as an MA) as a trailing stop once you are in a trade in order to maximize returns. They also have the option to let you use runners to get more money out of your positions while still taking in some profits.

For the runner, as an example, if you enter a position with 10 contracts, you can set it to exit 50% (5 contracts) of your position at your first target once it's reached, 30% (3 contracts) exits at the second target once it's reached. And the remaining 2 contracts will run until they are stopped (possibly by reaching an indicator trailing stop, for example an SMA). I don't know how to code so this sounds amazing to me. Nevertheless, the price is $997, $498 if you buy one of their DTS.

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  #9 (permalink)
 Daytrader999 
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j4W4a7V7 View Post
terratec mentioned that you cannot move your stops the way you can in chart trader. I don't know about the targets, but this video shows that you can move your stops just like in chart trader once you are in a trade.

You can move both stops and targets like you are used to in Chart Trader.
You can also choose your trailing stop from different indicators as well as depending on bar sizes or a fixed stop.

In addition, Trade Manager automatically calculates the correct lot size of a trade by using a defined percentage of your account size as a risk amount, but of course you can also set the lot size manually.

Since Trade Manager is not an indicator but a strategy which has to be applied separately to a chart, you may also take multiple trades (even in different directions) on one particular instrument by using only one account.

So, bottom line it's a quite expensive but useful tool.

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  #10 (permalink)
 JustinIsHere 
Montreal, Canada
 
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Daytrader999 View Post
So, bottom line it's a quite expensive but useful tool.

That was my impression as well. I really like how it automatically picks the contracts size depending on how big your account is and how much you are willing to risk per trade.

I'm using Multicharts at the moment, so getting that strategy would mean I would have to get a Ninjatrader license as well. I don't like Ninjatrader's UI, but it does provide access to many indicators/bar types/etc.

My main irk is the upcoming release of Ninjatrader 8. I've heard that due to their conversion to wpf, that most likely, indicators from 3rd party vendors will have to be updated in order to work. I'm unsure if this will also apply to strategies.

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  #11 (permalink)
 Daytrader999 
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j4W4a7V7 View Post
My main irk is the upcoming release of Ninjatrader 8. I've heard that due to their conversion to wpf, that most likely, indicators from 3rd party vendors will have to be updated in order to work. I'm unsure if this will also apply to strategies.

I think this applies to both indicators and strategies...but I'm really convinced that most of the 3rd party vendors are already working on these updates.

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