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Octavian

Using Ninjatrader to Demotrade and Backtest

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Im looking for some charting software i can use to begin demotrading and developing a trading method. Im looking to do this for free or as close to as possible

 

 

Ninjatrader claims its a free download but it asks for a Market Data Provider and Brokerage Provider.

 

Im considering Kinetick and IB for both of these but will they end costing me a monthly fee?

even though im still trying to learn

 

Are there cheaper options that are proper? e.g. not trying demotrade using google finance

 

Anything ive missed?

 

 

 

cheers

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Im considering Kinetick and IB for both of these but will they end costing me a monthly fee?

even though im still trying to learn

 

If your data does not come from a broker, it will cost you. You can go to tradingview.com -- they have real time stocks and you can at least watch the indexes, but you will be unable to look at real time futures data. Freestockcharts.com has a similar interface. If you are trading stocks, this will be idea. For other products, it may not suit your needs. Bottom line is, you gotta pay to play, even if it's just a small amount.

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If you have an account with IB you can get real time data. Only limitation is you can only trade in a Sim account. If you decide to start trading You will have to pay for the Ninja. If you see some of the videos in the Ninja trader channel you will get a lot of information. I am also trying out the software.

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Im looking for some charting software i can use to begin demotrading and developing a trading method. Im looking to do this for free or as close to as possible

 

 

Ninjatrader claims its a free download but it asks for a Market Data Provider and Brokerage Provider.

 

Im considering Kinetick and IB for both of these but will they end costing me a monthly fee?

even though im still trying to learn

 

Are there cheaper options that are proper? e.g. not trying demotrade using google finance

 

Anything ive missed?

 

 

 

cheers

 

The NinjaTrader application is free for what you want but as you pointed out you need a data source. You don't need both, a broker and a data source, just a data source. Depending on your requirements, here are a few options...

 

- If you only need EOD data, NinjaTrader has a free built-in connection to Kinetick for EOD data

- If you need real-time intraday data then you can either purchase a Kinetick subscription (Kinetick - Streaming real time quotes and historical market data) OR connect to a NinjaTrader supported brokerage account OR request a free trial as a prior poster suggested from a broker such as AMP

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The NinjaTrader application is free for what you want but as you pointed out you need a data source. You don't need both, a broker and a data source, just a data source. Depending on your requirements, here are a few options...

 

- If you only need EOD data, NinjaTrader has a free built-in connection to Kinetick for EOD data

- If you need real-time intraday data then you can either purchase a Kinetick subscription (Kinetick - Streaming real time quotes and historical market data) OR connect to a NinjaTrader supported brokerage account OR request a free trial as a prior poster suggested from a broker such as AMP

 

Yes, we can access free end-of-day data with the built-in connection to Kinetick, but there are only 630 different stocks accessible, and some of them are repeats. For example, if the stock isn't apart of the DOW 30, the NASDAQ 100, or the S&P 500, you cannot access it. There are no ETF's accessible at all.

 

Great looking charts though!

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Im looking for some charting software i can use to begin demotrading and developing a trading method. Im looking to do this for free or as close to as possible

 

 

Ninjatrader claims its a free download but it asks for a Market Data Provider and Brokerage Provider.

 

Im considering Kinetick and IB for both of these but will they end costing me a monthly fee?

even though im still trying to learn

 

Are there cheaper options that are proper? e.g. not trying demotrade using google finance

 

Anything ive missed?

 

 

 

cheers

 

what are you trying to accomplish?

 

demo trading stock? forex? futures?

 

how often do you want to trade? daily evenings after work? check the market once a week? or high frequency trading during the day?

 

are you a technical person? with programming skills?

 

 

the questions goes on before anybody can give you any usable advice.

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i want to demo trade stock in the evenings really. Im in the UK so the 9 - 4 times of the american markets are 2 - 9 here which is easy.

 

i just want to become adept at a trading platform as cheaply as i can that i can then go onto use with my own capital once i feel comfortable with it and have a tested method.

 

i have no programming skills

 

hope this helps

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you should look for some brokers who will let you trade with their paper money account. Most brokers in the US offer at least one month for you to try their platform. example Think or swim, options express Trade monster Etc......

Ninja is mainly for futures and intraday trading, even then if you can write your own program it is better.

It is expensive to buy and get data plans if you are planing to trade only stocks.

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The NinjaTrader application is free for what you want but as you pointed out you need a data source. You don't need both, a broker and a data source, just a data source. Depending on your requirements, here are a few options...

 

- If you only need EOD data, NinjaTrader has a free built-in connection to Kinetick for EOD data

- If you need real-time intraday data then you can either purchase a Kinetick subscription (Kinetick - Streaming real time quotes and historical market data) OR connect to a NinjaTrader supported brokerage account OR request a free trial as a prior poster suggested from a broker such as AMP

 

Hi Octavian,

 

It seems everyone out there forgets another option capable of offering intra-day free streaming data: AmiBroker.

Indeed, you'd have to buy the product when the 30 days eval end but they offer unlimited opportunities in terms of connection to various brokers / data feeds, including google and yahoo finance (with free 5 / 15 minute intraday data).

 

More than that, AmiBroker offer their SDK FOR FREE - such that you can extend / add the functionality you need.

 

It's true NinjaTrader / Multicharts types of solutions are backed up by bigger development teams but they cost a fortune (both one off cost + they force you to buy a data subscription). For example, Multicharts - if you need a connection to another, "unsupported" broker / data source, you have to buy their SDK for $15000 - which is just crazy.

 

Overall, benefits offered by AmiBroker counterbalance the lack of a "user-friendly" GUI.

 

Thx

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Before you do any backtests I suggest you head over to

 

Trade-Robots - Contents tagged with ninjatrader - Tags

 

Most threads we have tagged for ninja refer to critical bugs in the backtesting. From ignoring configured slippage to returning random results on backtests.

 

All of that can be dealt with - but I would assume 99% of the people are not even aware of those critical bugs in NinjaTrader, so they never look for the solutions (that area found via google). As few people seem to validate that the trading results are correct.... guess what ;)

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