Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

AlanP

Ninja Traders What Broker Do You Use?

Recommended Posts

I would like to switch to a broker where I can trade direct with Ninja.

 

Anybody got any recommendations? Currently I am thinking of IB or MBT.

 

Would be interested in others experiences.

 

Trhanks

 

Alan

Share this post


Link to post
Share on other sites

I have used Interactive Brokers and Ninja for quite a few years now. Dating way, way back to the early days of Ninja. It has worked for me through all the changes/upgrades and I have no issue/problems with IB as a broker.

 

I have heard good things about your other option you mention as well.

 

What I do like about IB is whenever I decide to be adventurous and trade other markets I can trade just about anything you can think of under one, universal account - forex, futures, stock, options, etc...

 

MMS

Share this post


Link to post
Share on other sites

Many thanks MMS

 

One of the problems I have with IB is understanding their rules, Day Trading/Pattern Trading/Deposits etc

 

I am in UK and not sure if everthing applies, they have answered queries but not too clearly:confused:

 

Cheers

 

Alan

Share this post


Link to post
Share on other sites

AlanP

 

The day trading pattern rules would be the same at any broker -- and if you're referring to stock trading it would require a $25,000 account (with up to 4:1 leverage given) if you are deemed a daytrader. One of those somewhat archaic rules from the times when the markets were crashing following the heyday in the late 90s -- thinking that would solve the problem. Didn't.

 

Anyway, I'm also not sure since that's a U.S. SEC rule I believe that it would apply to an account opened with IB in the U.K. Unless you are aware that the UK has the same regulations -- IB would have to comply.

 

I know though you can open your account in your currency and you do get access to a really good forex clearing ECN as well.

 

MMS

 

 

Many thanks MMS

 

One of the problems I have with IB is understanding their rules, Day Trading/Pattern Trading/Deposits etc

 

I am in UK and not sure if everthing applies, they have answered queries but not too clearly:confused:

 

Cheers

 

Alan

Share this post


Link to post
Share on other sites

jaturner and mms thanks for your input.

 

mms on your comments;- I do not intend to trade stocks, at the moment just FOREX but would like the ability in the future to trade Oil/Gold/Currency futures/Index

 

Sound like that the Day Trading/ Pattern rules dont apply?

 

jat;- are PFG an ECN do you know?

 

In general how do you find Ninja as the Trade management tool?

 

Thanks again guys.

 

Cheers, Alan

Share this post


Link to post
Share on other sites

Right, you'll be fine on the pattern day trader situation since you're not talking stocks. You'll just need to meet margin requirements for forex and/or futures as you go. They are strict about that but it allows plenty (too much) leverage.

 

As for the trade management using Ninja as your front end it's good -- like anything you need to learn it but they seem to run weekly webinars every week that covers all aspects of using it -- and you'll find it tends to be far better than what most (not all) brokers provide.

 

MMS

 

 

jaturner and mms thanks for your input.

 

mms on your comments;- I do not intend to trade stocks, at the moment just FOREX but would like the ability in the future to trade Oil/Gold/Currency futures/Index

 

Sound like that the Day Trading/ Pattern rules dont apply?

 

jat;- are PFG an ECN do you know?

 

 

In general how do you find Ninja as the Trade management tool?

 

Thanks again guys.

 

Cheers, Alan

Share this post


Link to post
Share on other sites

Hey Alan,

 

I use Mirus with ZenFire. Great fills and great customer service, but they don't do Forex. I've heard good things about AMP and Velocity from other traders I know also. I don't know why all the Netpick guys all use Tradestation. I had terrible fills when I was with them. Good luck.

 

KC

Share this post


Link to post
Share on other sites

I'm one of those people who absolutely loves the Tradestation platform -- but actually trade somewhere else. I think that's probably why some trade there even if maybe the speed/executions are marginally better perhaps elsewhere -- to get the platform for no charge since TS charges quite a bit on subscription only. That's my guess anyway.

 

The good news is you've got some really great alternatives mentioned here for Ninja which would give you the charting, data and trade management features they have.

 

MMS

Share this post


Link to post
Share on other sites

Thanks MMS, yes TS certainly comes well recommended. I certainly am not anti TS, I have often thought that would be the package I end up with and indeed it still might.

 

There is something about Ninja that I like and am impressed with their training etc, next step is to get a broker that I can trade it with and then of course buy it!

 

Is there something you particularly like with TS over NJ. It's always interesting to get others' perspectives.

 

Cheers, Alan

Share this post


Link to post
Share on other sites

Hi all, still making my mind up!

 

In searching for reviews on IB & MBT I came across a Software Bridge from Ninja to DukasCopy who are my current ecn broker and have had no problems with.

 

Its from Toolsfortrader and costs $495 but they are also an Introducing Broker for DukasCopy and refund virtually half of Dukas commission.

 

Has anyone heard of it?

 

Cheers, Alan

Edited by AlanP
Spelling

Share this post


Link to post
Share on other sites

Hi all,

 

I use PFG Best minimum trade is 1 mini lot, however there is no need to go past MT4 any longer with the use of MYFX which is briliant for setting partial targets and auto stop loss adjustments My broker (go markets even provided it for free usaully around $100)

Share this post


Link to post
Share on other sites
I've been with mbt for years.......

 

 

I'm switching to either IB or PFG

 

I've a traded their demos on and off for a coupla years

 

Why? Care to share?

 

Would appreciate it.

Share this post


Link to post
Share on other sites
I have used Interactive Brokers and Ninja for quite a few years now...MMS
:helloooo:

 

M2 S: if you don't mind, what would you say are the most difficult features with IB & NINJA for a beginner to get comfortable or proficient with at first.:confused:

 

Thanx...Tomazo M.

Share this post


Link to post
Share on other sites

No problem, I don't mind at all...

 

Here's how I'd answer that. IB isn't going to be the glossiest looking platform and they are not the most 100% user friendly. If you've ever seen their advertising vs. others it's the same with their platform. However, don't let that lack of gloss understate the effectiveness.

 

I find though that some traders are used to really having total hand holding with other brokers and IB isn't that. You're not going to be calling them all the time, and you're not going to have beautiful walkthrough videos and help at every turn. However, that doesn't mean it doesn't do 100% of what is intended -- excellent executions across multiple markets for very affordable rates with excellent uptime (100% for me)

 

Ninjatrader was similar for a long time but they've been going the extra mile to make everything more user friendly in recent years. Their newest version now has their own datafeed you can get - which I always felt was a limitation. This now has been taken care of.

 

Of course you can connect Ninja to IB fairly easily -- again that might be something the first time you do it that confuses you a bit -- but they've gotten better at making this connections fewer steps and easily done. And, the first time you get the connect, the green light comes on - each time thereafter is cake.

 

If it takes an extra day or two to get a handle on this vs. some other brokers that offer far less trust me it's well worth it.

 

That's why we're pretty excited that Ninjatrader is one of our ad sponsors this month -- always nice to have one where I have lots of firsthand experience and can feel good about recommending.

 

Good trading.

 

MMS

Share this post


Link to post
Share on other sites

If I could recommend the Rithmic for Ninja for true unfiltered and low latency solution.

Also, consider getting R|Trader for free with Ninja and Rithmic where you could fills on both platforms. If you use OCO orders, R|trader (free with NinjaTrader) would keep your orders on their servers not on your computer. Many traders could find this solution viable for risk management of positions and stability. http://www.optimusfutures.com/rithmic.htm

Share this post


Link to post
Share on other sites

Been with AMP for 2 years now, no complaints, my contact responds via skype in less than a minute, most of my queries are answered rapidly, not that I have had many. Margins requirements are reasonable, fees are reasonable. Executions are rapid and problem free. Why trade Forex, I trade currencies 6E,6B, 6C, 6J, 6A no problems with spread, during high volatility can get a bit of slippage but normally only on market orders and usually not more than a pip. Choice of Zenfire (Rithmic) or CQG.

Share this post


Link to post
Share on other sites

to use ninja with IB,u need there api connection.NINJA and IB always have some issues on there versions.U can not use NINJA latest version with IB.I recomende u to use ninja directly connected with data feed and a broker who offer that.OPTIMUS FUTURES,GLOBAL FUTURES,EFLOORTRADERS.com

AMP.com or MIRUS futures.com all good in commission and in data providing.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • PTCT PTC Therapeutics stock watch, trending with a pull back to 45.17 support area at https://stockconsultant.com/?PTCT
    • APPS Digital Turbine stock, nice rally off the 1.47 triple+ support area, from Stocks to Watch at https://stockconsultant.com/?APPS
    • Date: 20th December 2024.   BOE Sees More Support For Rate Cuts As USD Strengthens!   The US Dollar continues to rise in value after obtaining further support from positive economic and employment data. However, the hawkish Federal Reserve continues to support the currency. On the other hand, the Great British Pound comes under significant strain. Why is the GBPUSD declining? GBPUSD - Why is the GBPUSD Declining? The GBPUSD is witnessing bullish price movement for three primary reasons. The first is the Federal Reserve’s Monetary Policy, the second is the positive US news releases from yesterday and the third is the votes from the Bank of England’s Monetary Policy Committee.     Even though the Bank of England chose to keep interest rates unchanged at 4.75%, the number of votes to cut indicates dovishness in the upcoming months. Previously, traders were expecting the BoE to remain cautious due to inflation rising to 2.6% and positive employment data. In addition to this, the Retail Sales data from earlier this morning only rose 0.2%, lower than expectations adding pressure to GBP. Investors also should note that the two currencies did not conflict and price action was driven by both an increasing USD and a declining GBP. The US Dollar rose in value against all currencies, except for the Swiss Franc, against which it saw a slight decline. The GBP fell against all currencies, except for the GBPJPY, which ended higher solely due to earlier gains. US Monetary Policy and Macroeconomics The bullish price movement seen within the US Dollar Index continues to partially be due to its hawkish monetary policy. Particularly, indications from Jerome Powell that the Fed will only cut on two occasions and the first cut will take place in May. However, in addition to this the economic data from yesterday continues to illustrate a resilient and growing economy. This also supports the Fed’s approach to monetary policy and its efforts to push inflation back to the 2% target. The US GDP rose 3.1% over the past quarter beating expectations of 2.8%. The GDP rate of 3.1% is also higher than the first two quarters of 2024 (1.4% & 3.0%). In addition to this, the US Weekly Unemployment Claims fell from 242,000 to 220,000 and existing home sales rose to 4.15 million. Home sales in the latest month rose to an 8-month high. For this reason, the US Dollar rose in value against most currencies throughout the day. Analysts believe the US Dollar will continue to perform well due to less frequent rate cuts and tariffs. The US Dollar Index trades 1.65% higher this week. Bank of England Sees Increased Support for Rate Cuts! The Bank of England kept interest rates unchanged as per market’s previous expectations. The decision is determined by a committee of nine members and at least five of them must vote for a cut for the central bank to proceed. Analysts anticipated only two members voting for a cut, but three did. This signals a dovish tone and increases the likelihood of earlier rate cuts in 2025. The three members that voted for a rate cut were Dave Ramsden, Swati Dhingra, and Alan Taylor. Advocates for lower rates believe the current policy is too restrictive and risks pushing inflation well below the 2.0% target in the medium term. Meanwhile, supporters of keeping the current monetary policy argue that it's unclear if rising business costs will increase consumer prices, reduce jobs, or slow wage growth. However, if markets continue to expect a more dovish Bank of England in 2025, the GBP could come under further pressure. In 2024, the GBP was the best performing currency after the US Dollar and outperformed the Euro, Yen and Swiss Franc. This was due to the Bank of England’s reluctance to adjust rates at a similar pace to other central banks. GBPUSD - Technical Analysis In terms of the price of the exchange, most analysts believe the GBPUSD will continue to decline so long as the Federal Reserve retains their hawkish tone. The exchange rate continues to form lower swing lows and lower highs. The price trades below most moving averages on the 2-hour timeframe and below the neutral level on oscillators. On the 5-minute timeframe, the price moves back towards the 200-bar SMA, but sell signals may materialise if the price falls back below 1.24894.     Key Takeaways: The US Dollar increases in value for a third consecutive day and increases its monthly rise to 2.32%. The US Dollar Index was the best performing currency of Thursday’s session, along with the Swiss Franc. US Gross Domestic Product rises to 3.1% beating economist’s expectations of 2.8%. US Weekly Unemployment Claims read 220,000, 22,000 less than the previous week and lower than expectations. The NASDAQ declines further and trades 5.00% lower than the previous lows. The GBPUSD ends the day 0.56% lower and falls more than 1% after the Bank of England’s rate decision. Three Members of the BoE vote to cut interest rates. The GBP was the worst performing currency of the day along with the Japanese Yen. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news. Michalis Efthymiou HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 19th December 2024.   Federal Reserve Sparks NASDAQ’s Sharpest Selloff of 2024!   The NASDAQ fell more than 3.60% after the Federal Reserve cut interest rates, but gave hawkish comments. The stock market saw its largest decline witnessed in 2024 so far, as investors opted to cash in profits and not risk in the short-medium term. What did Chairman Powell reveal, and how does it impact the NASDAQ? The NASDAQ Falls To December Lows After Fed Guidance! The NASDAQ and US stock market in general saw a considerable decline after the press conference of the Federal Reserve. The USA100 ended the day 3.60% lower and saw only 1 of its 100 stocks avoid a decline. Of the most influential stocks the worst performers were Tesla (-8.28%), Broadcom (-6.91%) and Amazon (-4.60%).     When monitoring the broader stock market, similar conditions are seen confirming the investor sentiment is significantly lower and not solely related to the tech industry. The worst performing sectors are the housing and banking sectors. However, investors should also note that the decline was partially due to a build-up of profits over the past months. As a result, investors could easily sell and reduce exposure to cash in profits and lower their risk appetite. Analysts note that despite the Federal Reserve's hawkish stance, the Chairman provided a positive outlook. He highlighted optimism for the economy and the employment sector. Therefore, many analysts continue to believe that investors will buy the dip, even if it’s not imminent. A Hawkish Federal Reserve And Powell’s Guidance Even though traditional economics suggests a rate cut benefits the stock market, the market had already priced in the cut. As a result, the rate cut could no longer influence prices. Investors are now focusing on how the Federal Reserve plans to cut in 2025. This is what triggered the selloff and the decline. Investors were looking for indications of 3-4 rate cuts by the Federal Reserve in 2025 and for the first cut to be in March. However, analysts advise that the forward guidance by the Chairman, Jerome Powell, clearly indicates 2 rate adjustments. In addition to this, analysts believe the Fed will now cut next in May 2025. The average expectation now is that the Federal Reserve will cut 0.25% on two occasions in 2025. The Fed also advised that it is too early to know the effect of tariffs and “when the path is uncertain, you go slower”. This added to the hawkish tone of the central bank. However, surveys indicate that 15% of analysts believe the Federal Reserve will be forced into cutting rates at a faster pace. As a result, the US Dollar Index rose 1.25% and Bond Yields to a 7-month high. For investors, this makes other investment categories more attractive and stocks more expensive for foreign investors. However, the average decline the NASDAQ has seen before investors buy the dip is 13% ($19,320). This will also be a key level for investors if the NASDAQ continues to decline. NASDAQ - Technical Analysis Due to the bearish volatility, the price of the NASDAQ is trading below all major Moving Averages and Oscillators on the 2-Hour chart. After retracement the oscillators are no longer indicating an oversold price and continue to point to a bearish bias. Sell indications are likely to strengthen if the price declines below $21,222.60 in the short-term.       Key Takeaways: A hawkish Federal Reserve cut interest rates by 0.25% and indicates only 2 rate cuts in 2025! The stock market witnesses its worst day of 2024 due to the Fed’s hawkish forward guidance. Economists do not expect a rate cut before May 2025. Housing and bank stocks fell more than 4%. Investors are cashing in their gains and not looking to risk while the Fed is unlikely to cut again until May 2025. The US Dollar Index rises close to its highest level since November 2022. US Bond Yields also rise to their highest since May 2024. The NASDAQ’s average decline in 2024 before investors opt to purchase the dip is 13%. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news. Michalis Efthymiou HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • SNAP stock at 11.38 support area at https://stockconsultant.com/?SNAP
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.