NinjaTrader Review and Tutorial 2020

NinjaTrader’s award-winning online trading platform is aimed at directly supporting day traders interested in the futures, forex, CFDs and stock markets. This page will guide you through the NinjaTrader 8 platform, with features, indicators, charts, demo accounts, plus compatibility with top brokers, including NinjaTrader Brokerage.

Brief history

Since its inception in 2004, the privately held company headquartered in Denver, Colorado and Chicago, Illinois has attracted more than 60,000 users and 450+ developers. They offer a sophisticated trading platform with multiple charts and a variety of features plus market data services. Thousands of third-party apps, as well as add-ons, allow for ample customization, quick ordering, and advanced market analytics. In addition, NinjaTrader offers brokerage services to support both forex and futures traders at discounted prices.

Important details

So we know NinjaTrader can be used in a number of markets, but what is the most important information you should be aware of before downloading the latest version? First, there are no costs associated with using NinjaTrader’s standard features. This ensures free access to the following:

• Trading Simulation
• Market Analysis
• Advanced Mapping
• Backtesting and Optimization
• Automatic strategy development

NinjaTrader is an open source system, much like the MetaTrader 4 (MT4) platform. The difference is that while MT4 mainly attracts forex day traders, NinjaTrader is also popular with futures day traders. You can run NinjaTrader on Mac OS, Windows and Linux if you port it.

NinjaTrader 8

The platform is regularly updated, the latest version in NinjaTrader 8. It has produced more than 500 improvements, including chart changes (more configurability), improvements to the alert, an improved platform, plus updates to data and performances. However, the developers will not stop there, and more improvements by the user are planned.

Why NinjaTrader?

Take a quick look at trading blogs and forums, and you’ll see that many people want to know how NinjaTrader stacks up against MT4, MT5, TradeStation and MultiCharts. So, with so many options available, what separates NinjaTrader 8 from the rest?

• Customizability – their simple platform is designed for traders who want to customize their platform and technical indicators. You will find floating windows and indicators that are simply not available on other platforms.
• Setup – They have carefully designed their platform to allow for a quick and hassle-free setup. In less than ten minutes, you’ll have NinjaTrader 7 or 8 downloaded and up and running.
• Scripts – Experienced day traders love having access to many scripts. NinjaTrader 7 was fantastic for this and NinjaTrader 8 has programmers porting scripts to their new updated version.
• Free Simulation – This free trial uses random data or live data updated once a day. Once you have honed an effective strategy, you can upgrade it to live trading with real capital.
• Stop-loss Capabilities – NinjaTrader has an intelligent system that allows you to set up your strategy so that stop-losses as well as target orders are sent out as soon as you place a trade. This means that if you lose your internet connection, or get disconnected from your broker, your stop losses and target orders can prevent a costly disaster.

Disadvantages

Despite the number of NinjaTrader advantages, there are certain disadvantages and risks to be aware of. This includes:

• Market Analyzer Speed – Some reviews highlight concerns about the speed of the Market Analyzer when using more than 100 symbols.
• Apps – Those hoping for a native NinjaTrader mobile app for their Android or Apple devices will be disappointed. Access to CQG Mobile is available to those using NinjaTrader Brokerage. Additionally, there have been discussions of a native mobile app, so iOS and Android users may soon be in luck.
• Hard to learn – this is especially true for the NinjaTrader 7 version. However, to some extent this has been rectified by their latest offering, NinjaTrader 8. You can now also find a range of online video tutorials, guides and websites to help you along with free webinars hosted daily by their support team.</li >
• Narrow focus  – Today traders are increasingly interested in bitcoin and cryptocurrency markets. NinjaTrader does offer charting and analysis features with Coinbase data integrated directly into the platform, but order execution is not currently available. For live trading, NinjaTrader is currently the best in serving the trading futures, forex, stocks and CFDs.

NinjaTrader tools and features

One of the first questions many prospective day traders will have is regarding the trading tools and features on offer. Fortunately, there is a high level of satisfaction with both p-form and broker reviews.

Mapping

As far as the charting functions are concerned, NinjaTrader is very good. Their comprehensive tools compliment your trading ideas with user-friendly and highly customizable systems. They provide:

• Clear and powerful visualization of the market
• Multi-time frame plus multi-instrument analysis
• More than 100 pre-built custom indicators, as well as hundreds of optional indicators from third-party indicators.

You can expect access to:

• Gaps indicators
• News indicators
• Trend Indicators
• Swing Indicators
• Volume oscillators
• Callback Indicators
• Volatility Indicators
• Value area indicators
• Anomaly Indicators
• Elliott wave indicators
• Average daily range of indicators

Handelsbestuur

NinjaTrader’s SuperDOM order and trade management system allows for enhanced customizability. You will benefit from the following:

• Straight trade visualization
• Enrollment, modification plus cancellation with single click
• It can also be used together with the Advanced ATM module (Advanced Trade Management)

Advanced trade management

The NinjaTrader ATM module is a strong selling point. Their advanced technology allows you to pre-define strategies for managing personal trades. This includes:

• Numerous profit targets and stop-loss orders
• One-cancel-other (OCO) orders
• Auto-breakeven stop
• Drag losses

It can help you generate bigger profits as it automatically submits entry/exit orders within milliseconds. Not to mention, it can reduce the time and stress of manually managing multiple exit orders in the volatile markets.

Automation

Day trading volume is increasingly suggested by  machine learning algorithms. This is because you have developed a consistent effective strategy, and can automate it by increasing your automation. Once you program your criteria, an algorithm / bot will enter and exit the trades once your criteria are met. This can allow you to make far more trades than you could ever do manually. NinjaTrader allows you to automate your trading strategy if it was developed using NinjaScript or if it was in an external application. You have the ability to:

• Develop and buy automated strategies
• Analyze and execute automated strategies
• Process trading signals from outside applications
• Make or buy or buy custom chart indicators from third parties

Market repetition

NinjaTrader offers an extremely useful market replay feature. It downloads historical data so you can rewind to a specific day and practice the market as if it were live. It’s brilliant for developing a strategy, for example, or dealing with Fibonacci levels.

Other analytical tools

The NinjaTrader offering also deals with performance tools, as well as market and strategy analysts. All of these can help improve your daily performance.

Additionally, the minimum system and hardware requirements for NinjaTrader are in the industry standard, so most people need to download full versions of 7 and 8. Programming and coding tutorials can then be found in their video library.

Generally, you get a range of customizable charts and trading simulation programs in terms of trading tools and features. You also have extensive data feeds, indicator lists, intelligent programming capabilities, plus a reliable support forum. The key to making the most of their services is to spend time exploring their video library and educational services once signed up.

NinjaTrader Education

Embarking on a new platform can be challenging. Fortunately, NinjaTrader offers a variety of education and support to enhance your use of their trading software. It offers daily webinars, training videos, utilities, and has an active user community you can connect to.

The above methods should help you with:

• Price Quotes
• Stock scanners
• Different plugins
• Entries on data
• Order types and quantity
• Strategy themes & tutorials
• Broker withdrawals and funding
• Export windows and stop limits

However, if you still have unanswered questions, you can contact NinjaTrader via email or their support forum. They have a 20-strong help desk team of NinjaTrader specialists to ensure you get the best out of their platform.

How to …

Much of the educational material available deals with frequently asked questions from traders. The majority are ‘How are you’, for example:

• How to place a stop loss
• How to delete strategies
• How to trade futures
• How to use Ninjatrader 9

…and many more. These questions are often answered directly via webinar or video tutorials. The videos last about 2 or 3 minutes and deal with a specific topic, such as maps, or being connected to the platform. The Youtube channel also offers videos, but they are especially short. Webinars take much longer and traders have to log in, but this information goes into much more detail and provides more depth.

Demo account

The NinjaTrader demo account is a fantastic opportunity for beginners to get familiar with both markets and the trading platform. Downloading their demo account software is simple. Simply head over to their website and click on Trade Futures or Trade FX. Then scroll down and enter your information for a demo account. You just need an email address and fill in your location. You will then receive your login details and the steps to download their platform by email if you have not already done so.

Overall, trading simulator reviews speak highly of this service, and it’s not hard to see why. Aspiring scalpers can hone their craft on Heiken-Ashi charts while accessing playback features, market and volume profiles, and more.

Once you have built up your confidence, you can open a live trading account funded with real capital.

Costs

Once you have joined and logged in with a demo account, you will also receive information from the NinjaTrader brokers. It details exchange fees and other costs associated with the services of their broker. The main costs are as follows:

• The minimum deposit for a futures account is $1,000.
• The minimum deposit for a forex trading account is $50.
• The day trading margins for popular futures such as the S&P 500 emini are $500.
• Both Mini Dax and FTSE 100 futures have a margin of $1000.
• Commissions will be found to start from around $0.53 per contract. However, this will depend on whether you buy the NinjaTrader platform, rent it, or use the free version.
• A lifetime license for NinjaTrader will cost you 1099 dollars. Alternatively, you can pay four monthly installments of $329. It costs $720 per year, $425 for six months and $225 per quarter if you choose to rent.

A lifetime license for NinjaTrader will cost you 999 dollars. Alternatively, you can pay four monthly installments of $299. It costs $600 per year, $330 for six months and $180 per quarter if you choose to rent. It is also worth noting that if you choose the free version of NinjaTrader, commissions may be slightly higher.

NinjaTrader 7 vs NinjaTrader 8

The NinjaTrader 8 release was highly anticipated. The eight system requirements remain the same as for the 7, so if you have one, you should be able to migrate to the other without too much trouble. You can use the 8 on Mac or Windows.

The eight most important improvements from the 500 changes include:

• Increased speed
• Historical data for bid-ask
• Substantial improvements to the mapping
• Seals for below-second market data
• The ability to add custom columns and indicators to SuperDOM

8 reviews show that customers are happy with many of the changes, but if you don’t want to download the latest version, the full 7 version should do the job just fine. In fact, many traders point out that much of your knowledge and experience on NinjaTrader 7 is directly applicable in the 8 download.

NinjaTrader 8 tutorials, strategy builders, and backtesting guides can be found by checking out their trading forum or library of training videos.

It’s also worth noting that, unfortunately, there are no NT 8 mobile features.

Broker Compatibility

NinjaTrader exists as a broker independent trading platform. However, there are a number of supporting brokers from the UK and elsewhere. In fact, NinjaTrader has a license for a multi-broker. This gives you, the trader, the choice to execute your trades. However, there is a certain risk of delay in communication between some platforms. So, if you want a smooth transition from platform to broker, you can choose one of the brokers currently available through the NinjaTrader brokerage. They also support the majority of leading independent market data service providers, such as Kinetick. In general, you have a wide choice of forex brokers and futures brokers, where you can use your NinjaTrader software. In fact, you can choose from a number of internationally supported brokerage technologies, including:

• CQG
• FXCM
• MB Trading
• TD Ameritrade
• Clearly Corretora
• site OANDA
• Interactive brokers
• NinjaTrader Rhythmic
• NinjaTrader continuum
• GAIN Capital / FOREX.com

NinjaTrader further supports a number of additional providers of market data, including:

• eSignal
• TradeStation
• Yahoo Finance
• Metastock Import
• IQFeed from Telvent DTN
• Historical data import from text files

Consult their brokerage website for a full instrument list, including stocks, forex and futures.

NinjaTrader customer support

In the day trading game, every second costs money. So you don’t want to sit for hours waiting for NinjaTrader to solve a technical problem or an account problem. Fortunately, they offer 24/5 technical support, plus 24/7 emergency trade support in a number of languages, so no matter what your time zone, someone will be there.

You can expect to receive help with the following:

• Set up alert messages
• Your account balance
• Make sure you understand the prices
• How to place stop losses and get exchange rates
• Initial Margin Requirements and Daily Loss Limits
• Directions to their strategy builder and examples
• Find tick charts and automated trading strategies
• Information about holiday times and important calendar dates
• Understanding license and leverage conditions, including intraday limit requirements and inactivity fees

Although you can get technical and broker support in the hours you need it, NinjaTrader does not have a live chat service feature, which can increase the remedial speed. In general, emails are answered promptly and their support is pretty much industry standard. Consult their website for the emergency phone number where you are located. Problems with connectivity, or the system not starting, can often be initially traced to the support forum, which is an excellent resource. Any downtime (scheduled or otherwise) is only reported there.

Final Word

If you are looking for powerful software and market data, NinjaTrader may be worth investigating. That said, it can take a few weeks to get used to, especially for beginners. Although they don’t have a native iPhone or iPad app, or Android equivalent, CQG Desktop allows you to access your account if you use NinjaTrader brokers. However, in general, you get an active trading community, a range of educational resources and a high level of customization. It can improve your trading performance and strengthen the main intraday profits. If you choose NinjaTrader brokers, low margins and commissions can also come in handy to keep costs down.

Accepted countries

NinjaTrader only accepts traders from the United States, Netherlands, New Zealand, Norway, Nigeria, Poland, Portugal, Russian Federation, Saudi Arabia, Singapore, Spain, Sweden, Tokelau, Australia, Austria, Bulgaria, Belgium, Brazil, United Kingdom , Cyprus, Czech Republic, Denmark, Finland, Egypt, France, Switzerland, Germany, Hong Kong, India, Japan, Argentina, Chile, Mexico, Bolivia, Colombia.

Questions