I have been trading forex over a year now, have only used MT4. Having heard the name NinjaTrader pop up here and there I started wondering about what it can actually do. I looked at their website but it doesn’t really make me any wiser. It looks like it’s primarily meant for analysis?
The one thing that really puzzles me is they have this big list of brokers who supports NinjaTrader, but when I go to the broker’s websites I don’t see any mention of NinjaTrader? Can someone using NinjaTrader please explain to me how it works?
I’ve used both NinjaTrader and MT4. I found out the hard way that tools are not as important as plan, psychology and money management.
Ninja trader is a complex platform that (I feel) takes too much time to learn. I would rather be trading. For me an intuitive and easy to use platform is all I want. Unfortunately I have not found the holy grail. I tried to learn Ninja trader a few times but each time gave up. And they want to charge me for use! Not worth it in my book.
Check our Trade Interceptor. Its free and close to Ninjatrader as far as functionality,
Hi,
You’re right. You mentioned the 3 “weapons” of a successful Forex trader! 
Cheers,
NinjaTrader really a bit complex, but it has much bigger functionality than MT4. so if you feel that MT4 isn’t powerful enough for you, than NinjaTrader is worth the effort. or maybe not the NinjaTrader, but other professional software. i can advise you SaxoTrader or Protrader 2. download demo to find if they are appropriate for you.
Comparing MT4 to Ninjatrader is like comparing Fiat 500 to Mercedes c63 amg.
NinjaTrader is far more advanced and it is free to start.
Indicators and Strategies for NinjaTrader
I used Ninja Trader. It’s free and actually not that complex and it has a built-in programming and compiler based in C#. If you are familiar with the C-family programming language, C# is not that hard to learn and you can use it to create your own indicator and strategies (EA in MT4). C# is way easier than the programming language that you use in MT4, in my opinion. The chart is visually appealing with lots of customization options.
The downside? It’s slow to load and resource-taxing. It eats away huge chunks of your RAM and CPU power to the point that it’s made my computer reboot on quite a few occasions. My biggest problem with them is that you get “spikes” or bad data in the price feed that completely screws up your indicators and in turn your strategies and it’s extremely difficult to correct All you can do is eraspe that entire day of data when there was just ONE candle of bad data. They blame it on the data feed provided by my broker but the data and the charts provided by my broker was fine; it’s only when they arrive at Ninja Trader that it becomes screwed up. They refuse to fix this problem and instead push you to pay for this external data feed package.
In conclusion, if you don’t mind losing a day of data every several months and don’t mind the speed and you have a powerful computer, then the software is quite pleasant to use and it’s quite powerful in terms of the programming capabilities it provides.
Have been using NinjaTrader since their 6.5 times for my futures trading and just starting looking around for other market alternatives, such as FX spot as well - so looks to me like some exciting times are ahead here for those already familiar with it…I’ve just learned that FXCM is going to interface with them for data and execution.
Still have not made my choice where my FX spot account would be held, but will highly consider checking them out in beta to see how smooth things go.
If anybody else takes up the beta offer, please post here your thoughts if you like so we can stay in touch on it.
Ive used Ninja for futures, Ive used MT4 for currencies and TOS for just about everything.
At the end of it all, I would choose MT4 or TOS. Personally I use TOS just because I find it more intuitive and although they have had some infamous moments where they had a lot of down time, they have been very reliable the last year or so. But to each their own, TOS covers the whole gamut from stocks, to futures, FX and their specialty - options of course.
My advice is to try out everything, but make a quick decision on which one feels “right” then learn it and become proficient with it. You can make money using any software. Yoiu can also lose it as well lol.
I think the consensus of FX traders would recommend MT4 since everyone I talk to uses it. But again I like TOS and am comfortable with it, so i continue to use it.
Hope it helps.
I think Ninja Trader is much better and easier to use than MT4, but having said that if you are new to trading like I am. I don’t want to shell out a grand or pay extra commission when I get by with MT4 or Fxtrade. Save the money for the evitable loss and focus on the important aspects of trading.
4 years later, should have started a new thread.
NinjaTrader Brokerage are UNAWARE of the following warning generated by their own software (NT8) for FX spot trading (via FXCM). See attached screen capture, no. 3 esp.
