Question with Ninja....

[Soultrader 12]

From my understanding Ninja Trader allows automated exit strategies? Does anyone have any experience with them and what are your thoughts on it? Thanks

[TinGull 10]

And ThinkOrSwim is going to be implementing that soon, as well. I think it sounds awesome!

[torero 10]

From my understanding Ninja Trader allows automated exit strategies? Does anyone have any experience with them and what are your thoughts on it? Thanks

 

Hi James, when you say automated, you mean coded or bracketed order strategies? I know you use TS codes and strategies on Ninja. So I assume, yes, it's true. I think they use their own proprietary code you can implement yourself. This is part of their platform for a while now.

[testaclese 10]

I have been using ninja for about two months in a demo account and just this last week went live trading the russell. You would be amazed how you can set your stops. So far the fills have been excellent and the stops move faster than a speeding bullet. They are just the trading platform that sends the order to my broker. Very simple to learn. My biggest problem so far has been to be patient with my strategy and let it do its job. I read in another forum this evening that that seems to be a problem for lot of traders...letting your plan work.

 

This futures trading is quite interesting. Hope I can make it work. I appreciate all the info I have found on this forum. It just takes this old cowman a while to get his head around some of it.

 

Mike

[torero 10]

testa, patience is the biggest and hardest hurdle to learn as you will see down the road. It was for me and still is a problem for me from time to time. Letting it play itself out is the right mentality. When you're impatient, 2 things happen

 

1) You change your stops too quickly toward breakeven or to the price action, eager to lock in profits. This results in you getting stopped with a meager profit, but then you end up watching the move that could have been more if you left your stop alone.

2) You waited too long for a setup to appear for an hour, 2 hours, and you're finally bored to death and have to come up with an excuse to trade. This is where you'll bleed slowly (or maybe largely if you have no money management skills to keep it under control) with low probability trades.

 

"Let profits run" will be the hardest thing to do, no matter how experienced and profitable you are in the market.

[Soultrader 12]

I agree Torero, I also have the problem of locking in profits too soon. Futures can be pretty volatile which is why I tend to ring the register because I constantly assume a reversal.

[Reaver 10]

Soul,

 

I've demo'd around with NT and it's really sharp. You can set up all kinds of strategies and conditional orders. The support is very quick in my experience too. NT staff is very willing to answer any questions I've had. Hope that helped. By the way, the trader metrics analysis they have is really cool too.

[Soultrader 12]

Thanks Reaver,

 

I may eventually switch to Ninja. Im starting to become more systematic about my exit points and Ninja can definitely help with this.

[brownsfan019 17]

Hey guys, I use a platform called T4. It's like an XTrader knockoff. You won't find it called T4 at brokers as they allow the broker to brand it as their own. I use Mirus Futures and Dorman Direct (the branded T4). You may want to take a look at that as well if you are going to compare. I love it.

 

Here's a link directly to T4: Home - CTS

 

Here's how you can get a sim thru Dorman: https://www.dormandirect.net/Register/

 

Should you decide to use it, I would ask that you at least consider going thru Mirus as they have been excellent to me - good rates and good customer service. ProActive Futures is also a good IB in my opinion.

 

I should note that you can easily alter the appearance and look of T4. I hate the initial default the program uses, but with some clicks and dragging, you can customize this like you wouldn't believe. Also, not sure if this is of use or not, but for tape readers they have some volume things you can have right on your dom. Again, I don't use it, so not sure if that's useful or not. Also, this is probably the main reason why I use it - all of your orders rest on T4's servers, not your computer or the exchange. If something goes down - you or the exchange, your orders still are out there. This is important to me b/c I use smaller profit targets and stops. I set my orders up on an OCO and then I know I am good to go. If something happens on my end, my orders are out there and set to OCO.

[nicknextmove 10]

Thank you for the link brownsfan019, will check it out via the trial.

 

BTW, I believe the TTM guys are also with Mirus.