Features in the Ninja Trader Platform

[RichardCox 10]

Ninja Trader is one of the companies at the forefront of online forex trading technology, developing software solutions since 2004 and is currently based in Denver, Colorado. The company’s principal application, the Ninja Trader trading platform offers a wide variety of functionalities – with examples including advanced charting, trade simulation functions, in-depth market analysis in addition to its live trading functions. The platform is supported by hundreds of online forex brokers worldwide and offers most of the standard features that are seen in its competitor’s product offerings.

 

The Ninja Trader platform can be used to trade the stocks and futures markets in addition to the retail forex markets so no matter which markets you trade, Ninja Trader can make the accommodation, providing traders with the tools to analyze the markets and enact your trading ideas with an interface that is customizable, flexible, and user-friendly.

 

Ninja Trader’s Charting Software

 

Ninja Trader advertises its charting package as “leading edge charting” technology and while the platform does offer multi series charting applications, a wide array of tools for drawing on charts to conduct analysis, a wide indicator library, and the ability to trade directly from the chart itself, there is not much that distinguishes Ninja Trader from most of its industry competition.

 

The features in Ninja Trader’s charting package are fully customizable and offered in a user friendly format but overall the charting package lacks design sophistication and forex traders that are focused mostly on the technical side of things might want to look elsewhere in order to conduct advanced charting analysis that is in-depth and tailored to more complicated analysis strategies.

 

Ninja Trader’s Strategy Analyzer

 

One of Ninja Trader’s more interesting features is the Strategy Analyzer, which allows traders to run historical tests in order to assess the performance of automated trading strategies. Ninja Trader’s backtesting features are high powered and while these features are made available at some the major competitors in this field, it is still an attractive feature that keeps the platform near the upper end of the available forex trading resources.

 

In addition to the Strategy Analyzer, Ninja Trader’s features include Basket testing, along with walk forward and genetic optimization. All of these features allow traders to view price data in more objective ways and to test out new strategies in ways that might not be possible when dealing with other trading systems.

 

Ninja Trader’s Market Analyzer

 

Ninja Trader’s Market Analyzer offers traders an enhanced quote sheet that will allow traders to sort, monitor and hundreds of trading instruments – all in real time. Ninja offers a large number of indicator columns (more than 150), rules-based color coded cells and price alerts, dynamic ranking and filtering and the ability to customize your trading experience with Ninja Script.

 

Enhanced Ability to Assess Trade Performance

 

Ninja Trader’s aim is to make trade analysis easier to conduct. More than 80 performance metrics are made available so that traders can analyze the performance of back tested strategies or with trades enacted in real time. Traders can also selection from various performance graph options. Additional analytic tools can be found in the time & sales window, the Alerts window, the Level II market data window, and the News & RSS window.

 

Advanced Trade Management Feature

 

Since trade management and order submissions are subject to potential error factors (especially when implanting very short term strategies), Ninja Trader looked to streamline the process with the Advanced Trade Management (ATM) feature. While there are the more standard features seen with the automated stop loss, trailing stop and profit targets that can be placed in order submissions, Ninja Trader also makes the breakeven stop loss an automated feature. With the Auto-break even button, traders can meet the demands of quickly moving markets with limited potential for error when altering positions that are already open.

 

Developing Trading Strategies with Enhanced Automation

 

To ensure the best performance when constructing trading strategies that are automated, the C# based Ninja Script can be used (even by non-programmers). More than 100 predefined indicators are also included with the platform. Trading signals from external applications can be processed, for example routed from Trade Station or eSignal (with no additional programming required). File, DLL and .NET interface options are available, as simulated trading is viewed as being an integral component of the process.

 

Ninja Trader’s Market Replay Feature

 

Other testing tools can be found with the Market Replay feature, which is an educational testing tool that can Record activity seen today in order to play it back in the future. Tick by tick replays can be defined at user chosen speeds at user, which allow multiple markets to be replayed at the same time. The market data simulation feature allows for controlled strategy testing and can be defined with the platform’s Trend Control feature as a means for developing new strategies.

Ninja Trader’s Analysis Capabilities

 

Looking more broadly at the analysis capabilities of the Ninja Trader platform, it becomes clear that the three most essential features in the analysis module can be seen with the market analyzer, the strategy analyzer, along with the trade performance analyzer.

 

The strategy analyzer evaluates automated trading strategies and at the same time offers recommendations for strategic improvements that can be made. The market analyzer, on the other hand, will allow traders to monitor and analyze separate markets while using multiple filters in order to create a more substantive overview of the trading environment and (ideally) leading to better trade performance. Last, the trade performance analyzer evaluates previous trading behaviors exhibited in your account and uses specially tailored performance metrics in order to make an analysis of the results seen previously.

 

Conclusion

 

Ninja Trader has attained a position as one of the most well known and widely used trading platforms that is currently made available to forex traders. The platform can be used in a variety of markets (stocks and futures are other examples), so forex traders will want to focus on the FX Pro section of the offering when traders are practicing placing trades with a demo account. Actual placement in the forex hierarchy, however, is debatable as the platform will be viewed as advanced and well designed when compared to some trading stations, while it will be viewed as deficient in some of the major categories when compared to others.

 

Ninja Trader does offer some top notch market analysis tools that can be paired with manual trading or automated trading styles. More than 300 3rd party add-ons can be fixed to the Ninja Trader platform and over 100 stocks, forex, and futures brokers currently have the product on offer. More advanced traders that are focused on technical analysis when trading the forex markets will find all of Ninja Trader’s simulation and back testing features to be of great use and of high quality. Since these types of tools can be invaluable when designing a trading strategy for the long term, Ninja Trader is definitely a platform that should be considered, as there are options available that cannot be found in other product offerings.

[henryduncan12 10]

I am using MT4 trading software for forex trading but did not use Ninja Trader so far. I think, it is the time to use it. Thanks to share Features of it with us.