I've been trying to use NinjaTrader and I'm usually pretty savy with software. This thing is not intuitive at all and does not seem to have real time charts. I think I have settled on IB, but am looking for good real time and real data partners to go with it. I like ESignal. but too expensive for me right now. I'll try this MotiveWave, but do not like the idea of something in Beta.
NT"s charts are real time if you are using a real time feed. You can use IB's data feed but that does not give you every tick (do a search about IB's data feed) or you can use another feed, ala E*Signal (or whatever it is called now) with it as well. NT is only as good as who you use it with, and NT will only work with a limited number of equity brokers - it is geared more for futures traders than equities.
I stumbled across IB data feed information. That they don't do tick by tick? I didn't read too much into it yet. As far as using it with E-Signal. Why don't I just use E-Signal by itself instead of combining it with NT. What's the advantage of using it with NT?
From what I've seen (and I haven't seen them all), NT is the best you're gonna get for free. And it does provide live streaming quotes when you interface it with IB. But is it a great platform? Heck no! Lots of issues where it just wasn't robust enough for me. I certainly wouldn't pay their asking price to do live trading off it, but hey, I can't knock it since it's free without the trading buttons on the chart. I'm trying MotiveWave right now. First, be very careful of getting used to software where prices haven't been determined yet. You don't want to get hooked and then reeled in. My first impressions of MotiveWave is "amateur hour". Far from being very configurable. The only thing I like about it is that you can open more than one workspace and assign it to a monitor in multi-monitor mode. But the buck stops there. Heck, I couldn't even find pivot points in their studies. And I'm not waking up an hour early every morning to calculate my own pivots and plot them on all my charts! ;-) The more I check out various platforms, the more I understand why I pay so much for e-signal!
eSignal's data is delayed. Run an eSignal time and sales next to a Laser or Lightspeed time and sales and you will see the prints come in on eSignal late... it's a fraction of a second, but enough for the eye to catch.
I am definitely leaning towards ESignal. It seems that I can go with an IB+ESignal combo and I am good to go. But, Esignal has like 100 products. I am currently sorting through them now. I really would value their real time charts and data feed. Plus it would be a plus if I could use their trading platform since IB looks downright Atari style. I just don't like the idea of paying $200/ month on Esignal for stuff I'd mostly be getting for free through IB even if it is ugly.
Take time to explore NeoTicker trial. It's one of the most comprehensive charting platforms. Though it is great for auto-trading, manual order entry is even more rudimentary than IB. On the monthly basis it's not cheaper that NinjaTrader but you can get a "permanent" license which is a big saver in the long term.
You might want to look through the thread I recently started on the best charting app for IB. FWIW, after using QCharts for many years for futures charting, I recently dropped them in favor of Ninja/IB data feed. I am still in the process of getting up to speed. Ninja is one of the least intuitive platforms i have ever used, but it seems to be pretty powerful once you figure it out. They have a very useful user's guide on their website, plus extensive user forums, etc. You might also want to check out Schwab's Street Smart Pro platform. Their fees are not as low as IB or Lightspeed, but you get a very high quality charting plus Lev II package for free, if you do minimal volume. While splitting your funds might be an issue, it is also a very good idea in my experience not to have all your eggs in one basket in terms of brokers. I think the issue of fees tends to get overlooked. For a retail trader, paying for a charting app, plus several RT exchange fees can add up over the years. If you can avoid it, you're ahead of the game.
Thanks. I read through the thread and it was helpful, but seemed like an advertisement for NinjaTrader. my problem is that I don't have an account with IB yet. I am looking to move brokers as well. So, i currently have no idea how the charts or real time data feeds would work.
I am trader and u underestimate fees. I am fan of TOS. I was able to cut fees 3$ min trade. 1 cent per share But it seems still too high Altough, i still make over 100$ fees per day. And its over 2k per month ! Therefore any data fees are irrelevant, if u do volume. I want change my platform to lightspeed trader. Anyone has any ideas?