I have been demo trading Forex now for a couple of months primarily using broker platforms. I came across NinjaTrader (NT) and like several things about it, yet, I don’t see the popularity (read validation) in terms of reviews, tips, tricks, etc. So I thought I would be beneficial to anyone using or thinking about using NinjaTrader as their platform.
NOTE: I have no business connection with NT other than utilizing their platform to make pips.
I know NT is not as popular as MT4 and will not even attempt to compare but some things I like with NT are the Chart Trader and the SuperDom. Given my trading style, I tend to use the Chart Trader more often because I can see my trades within my charts and this is great for my journal. The SuperDom provides a ‘ladder’ visual of pricing with bid/ask noted in different colors. In a volatile market, it can be difficult to keep up. That said, I do use the SuperDom but it does take some practice.
Do you make money with it?
Does it come with strategies that make money, or do I have to create my own?
I use ninja trader. mainly for its replay and sim broker capabilities…
I find that Ninja Trader is a resources hog and if too may charts open the machine slows… hopefully the new version will correct that
I just started using Ninja Trader V6.5, using demo account. However, I have been using MT4 from FXDD, for several months. My main reservation about NT is that you have to connect to a partner broker (and data provider if partner broker does not provide sufficient historical data) if you want to trade live. For live trading NT is not free, unless you connect to Forex.com. However, after hearing some very bad reviews about Forex.com, I would have to proceed with another partner broker. I am thinking of connecting to Interactive Brokers, but I would have to pay about USD900+ for NT’s license.
Not an easy choice! Can anyone comment about Interactive Brokers?
Maybe I should stick to FXDD and MT4; too much cost and hassle. Any suggestion, anyone? Thank you.
If you want a free charting software you are limited to their feed. In my experience, The feed provided is relatively close to that of the broker I use, I find it quite satisfactory.
Regarding what you hear about Forex.com, I think you will be able to find bad reviews on almost every broker provided by dissatisfied customers.
If you are daytrading using the Ninja platform, you need only run it for a couple hours to get your chart populated, if you are using EOD you can export from Metatrader and import into Ninja.
The data from IB may not actually relate to the broker that you are placing your trades with, this you will have to verify.
You are going to have to do quite a bit of investigating on your own to get satisfaction as to your individual needs.
Thank you Blaiserboy for the advice. I understand from your reply that probably you are using another broker to trade and NinjaTrader platform as reference. Are you using NinjaTrader and Forex.com to live trade?
About Forex.com my worry is that there are far too many bad reviews about them compared to other brokers. They were also fined by the regulators in 2006. Do you actually use NinjaTrader with Forex.com and find Forex.com satisfactory? Anyway Forex.com does not provide historical daily data, and I have to connect to a data feed from eSignal, or the likes. I am not a day trader generally, and rely more on daily historical data for trading. Further confirmation and advice would be appreciated. TQ
why i cannot connect to mbt navigator demo using NT?
I get the message
I have the internet connection.
I just connected with my cooltrade robotic trader and it worked fine.
I don’t use ninja, but maybe you just need to reinstall the mb navigator.
I have had no complaints with forex.com… and you can know this… people draw trouble to themselves… I expect good, I have no reason to expect bad. I get good from them.
Life is self fulfilling… focus on bad. and bad appears…