anyone use ninjatrader for TWS?

Discussion in 'Trading Software' started by jay567, May 17, 2003.

  1. jay567


    anyone use ninjatrader for TWS? i did a search on the elite and found no history... i checked out the site and it looks pretty good to me.

    any opinions?
  2. Eddy


    Hi Jay,

    I have been just using NinjaTrader for the past week for live trades and it performed very nicely, even if this was still a beta version.
    As a former Bracket-Trader user, I could find back all of the BT features + many new ones which makes the management of entry & exit orders even more efficient.

    One of the great new features is the “strategy manager”, allowing you to create/access a library of “money management” templates.
    Indeed, whether you intend to do some quick ES scalping after some news release, or enter a longer term trade after a 123 bar pattern being triggered in the main trend direction, you won’t use the same default parameters for your stop and target offsets, your trailing stop levels, etc..
    In BT, you needed to change all these parameters each time you switched of trading style. With Ninja Trader, you just need to click a on a pre-saved strategy name so that all your parameters are instantly loaded in the program…

    Among other major improvements versus BT, I would say that Ninjatrader offers a lot of “flexibility” in its feature. For example :

    => NT will automatically manage for you a very customizable 2 steps trailing stop system, but even more important, you have the possibility to turn it off or on at any time during the trade.
    => Similarly, if you initially decided for a 2 steps exit mode (Autoscale), you may scale in or scale out additional quantity at will at any time (all stop / target orders will be automatically updated) or even switch back to the manual exit mode.
    => Contrary to BT, even if you are in a losing position, you will be able to push the "breakeven" button : in this case, it will keep your stop orders unchanged, but it will move your target limit orders to entry price, allowing you to give you a chance to exit at breakeven during a price retrace…
    => On top of being able to enter a pair of Buy/Sell Stop LIMIT orders (for playing breakout kind of entries), it will be as well possible in NT, for people who like fade strategies, to automatically enter a pair of BUY and SELL Limit order (as an OCA order).
    => And many more feature (simulated stop limit orders / automated trading features, etc) that you may check on NT website…

    So if your are already using one of the existing 3rd party program for managing your IB trades thanks to some mouse click, you really need to give NT a try, and join the ongoing intense discussions on the yahoo group, if you were to find out that your favorite feature in this area was not yet implemented within NT...
    (I just read that a full trading simulator feature was under preparation for the next beta release)

  3. but I do like it a lot and have been participating in its development since its first days by providing feedback to Raymond, the developer.

  4. You might want to look at Futures-Trader,
    Since it has a simulator via either IB or eSignal.
  5. i am using futures-trader..... anyone able to compare ninja trader to futures-trader??
  6. p.s.............. i highly recommend futures-trader.........A+
  7. pretzel


  8. Pretzel,

    Are you still using BT for automatic trading? Not so much interested in your choice of frontend as the other part of the question.

  9. When using NinjaTrader, would one incur the extra per-share API fee from IB?

    #10     May 19, 2003