NinjaTrader, Discovering the Platform

The trading platform is the fundamental working tool of any investor operating in the financial markets through the internet. It is a software designed to analyze the market, receive prices of financial instruments available to invest and open, control and close positions according to the decisions taken by the trader himself.

At NinjaTrader, we at generally prefer MetaTrader, as it allows you to trade with all regulated brokers in Europe including 24option (access the 24option guide) and ITRADER (access the iTrader guide). However, there are also a few on NT, and by the way, they offer MetaTrader (the world’s most widely used software in professional trading) completely free of charge.

However, as we like to keep up to date with the world of online trading, we decided to take a look at the NinjaTrader platform, for completeness of information and passion.

Choosing the platform that best fits your profile is essential to be successful in your business because the tools available, the graphics, the way we use the software we use can ultimately affect the quality of our results.

Most traders use some of the platforms provided by their online broker free of charge, others choose to use a paid platform that offers some more advanced features they need for their operations. Each platform is a world and although the goal is the same for all, namely to provide data to the user, there are those that simply offer the basic features that every trader needs, focusing on simplicity and ease of use for beginners, while others are much more complete and complex and have a broader learning process primarily aimed at experienced and more knowledgeable traders.

Discovering NinjaTrader

Among the many existing platforms for online trading, Ninjatrader plays an important role, combining advanced analysis tools with a good versatility. The main features of NinjaTrader are its reliability and zero limitations, making it one of the most powerful trading platforms.

Using Ninja Trader’s market analysis tools can certainly help you find good opportunities to execute trades having the odds to your advantage. Its market analysis utilities are totally flexible and can be adapted and modified depending on the setting we prefer.

NinjaTrader is an independent platform, so you can choose the broker and data server you want from those available and listed on the dedicated web page.

How to Use NinjaTrader

You can try the platform for free by clicking on the green Futures or Forex buttons on the website, scrolling down and entering information for a demo account. You should use a real email address to make sure you receive your login details and then enter your country of origin.

Once this is done the site will redirect you to a page where you can download the installation file and some useful guides including the connection guide, which may be useful later when connecting the platform to the data server.

Let’s see together the main positive and negative features of the platform.

Advantages and Disadvantages of NinjaTrader

What are the Advantages of NinjaTrader?

  1. You are free to use in demo mode, direct accessible mode, without the need to associate it to any broker as it is required only the selection of the data server.
  2. Multiple brokerage offers with different brokers depending on whether you want to trade on forex or futures.
  3. C# programming offers extreme flexibility.
  4. It supports different types of graphics. NinjaTrader is probably one of the best platforms available from a graphical point of view.
  5. Great technical support in their forums.
  6. Many third party add-ons, such as indicators and strategies, are available free of charge and also for a fee. There are professional indicators of superlative rank – certainly not cheap – that allow in-depth analysis.
  7. You can analyze trading volumes, both on indices and on forex. This is because you can connect to data servers related to futures contracts also with regard to currencies.

What are the Disadvantages of NinjaTrader?

  1. The learning curve is steep enough to begin with. It’s certainly less simple than other platforms. Data feed is not included, but a trial period is required. Afterwards the data will be charged for.
  2. The number of brokers that can be associated with NinjaTrader is much lower than, for example, MetaTrader.

How to Connect NinjaTrader to a Data Server

NinjaTrader comes with free end-of-day market data. Click File>Connect>Kinetick – End of Day (free).

You will hear a short and pleasant sound, which means that you are now connected to the free data source. at the bottom left of the window, you should see a green box with the words “Connected – Kinetick”.

If you want, like most traders, to view real-time data and several timeframes correctly updated, you must follow the same procedure above but instead of selecting Kinetick, you must choose Ninjatrader Continuum (Demo) and here then enter in the required fields the credentials received by email from the server CQG data, or username and password.

How to Upload a Chart in NinjaTrader?

To upload a chart to the NinjaTrader platform simply click File> New> Chart.

A “Data Series” dialog box will be displayed in which you can select the financial instrument for which you want to see the quotes. Once selected, a set of data will appear in the right column of the window including:

  • Period, related to the timeframe;
  • Chart style, the type of chart;
  • Date, the amount of days you want to display the chart. Kinetick has only 10 years of free data so 3560 days is the maximum until you get other data sources.

After entering our preferences, we will have to click on the OK button to display the chart. At this moment no indicator will appear in the chart and to add some, you will have to click on the third button in the top menu starting from the right and will open the dialog box “Indicators”.

Also in this case, once you double click on the chosen indicator, among the standard ones already present, you will have to select the settings of the indicator in the right column of the window.

This is what is necessary to start at least to try the NinjaTrader trading platform, studying the main features. There is also a lot more information about the quality of the data that can be obtained through the servers to which you connect, the ability to view the real volumes traded in a financial instrument and also the peculiarities of the integrated chart trader, but this and more you can discover it a bit ‘at a time. The idea of using NinjaTrader as a secondary platform to perform more in-depth analysis, to be combined with a platform that is perhaps simpler for everyday use, is also absolutely valid.

Leave a Reply

Your email address will not be published. Required fields are marked *