Don't forget that if you would take a lifetime licence at Ninjatrader, you cannot trade with AMP. The NT7/8 DOM is connected to accounts at ninjatrader. So your orders go there, not to AMP. So you should switch from AMP to Ninjatrader.
Thanks, I am looking for a platform with an ATM strategy. So that once I get into a trade via a buy or sell stop, the target price and protective stop are AUTOMATICALLY activated. As a scalper, I don't have much time to set the protective stop or target price manually once I get into the trade. Price can move very fast. I'm sorry if I'm being dense. I just don't understand what you are saying. Yes I will have to download the platform, and spend a weekend trying to familiarize myself with it. But AMP has told me that Quantower doesn't have an ATM strategy feature.
Well, you definitely can set a target and stop with Quantower and it gets automatically activated once you enter your trade or place an order. They are called bracket orders. ATM strategy has some features that Quantower doesn't have, like auto break even.
Realistically, if you can't afford $225 to lease Ninjatrader you must be way under funded anyhow. And even if you could afford it you'd need to trade through Ninjatrader brokerage or Interactive Brokers (often very high intraday margins). It would be a surprise to me if not all standard software in 2021 could submit a hard stop/limit (bracket order) x ticks from your entry price. If it could be automated at x ticks from entry is a different matter, but again, would be odd if not. Here's how it's done in Ninjatrader for the non Ninja users. Here's an example of my 5 point stop order with a stop 5 points / 20 ticks from entry and a limit 5 points from entry. I have different pre-programmed strategies with different stop sizes. As such it's easy to quickly select the one I want.
Thank you! That's all I needed to know. Yes, bracket orders. I appreciate ya. Now I will download the platform and take the necessary time to get accustomed to it. The how-to videos for Quantower are not very good. Unlike Ninja Trader's videos which are very good. So it will take me quite a bit of time to figure out how Quantower works, and I didn't want to waste valuable time on it if it didn't have what I need.
Yes, I am very underfunded. I am in a precarious financial position which is never good. I think most traders have a money they can lose. I do not. I have done a lot of SIM, and i have taken some live successful trades on the DOM, but as mentioned, trying to manually insert profit target and protective stops manually on the DOM is maddening when only scalping for 4 ticks. I am unable to take a screen shot of my ATM strategy. The function has disappeared for some reason. FireFox updated, and now it's gone. So I took a photo of it. This is what the ATM strategy (Ninja Trader 7) would look like on the paid version I scalp-out 4 ticks on two contracts, and then I let the third contract run. This strategy gets activated as soon as my order gets filled. AMP no longer offers Ninja Trader to its new customers. But I am grandfathered in so I am still allowed to use Ninja Trader. My trades do not go through the Ninja Trader. They go through AMP.
I too am grandfathered in with Ninjatrader but I'm currently checking out the new platform and liking it so far... and for those who like profile charts this has it!
Well, to be honest, the game is difficult enough as it is. Unless you're trading MES or have the best edge/discipline/patience your chances are slim at best if you're 'very underfunded'. It might be better for you to save up a bit more money before trading. You can always continue practicing. Agree on the ATM strategies. It's very convenient especially when scalping. I use the auto-breakeven too in a fast market. Good for you! I was initially a bit pissed by Ninja's decision to no longer support other brokers, although I've been quite happy with NT Brokerage/Dorman. Anyway - good luck!
NinjaTrader in the past year also added ACH with Phillip Capital, so no longer need to pay wire fees for withdrawing profits.