The award-winning online trading site of NinjaTrader aims at directly helping day traders involved in the futures, forex, CFDs and capital markets. This page will lead you through the NinjaTrader 8 app, which covers indicators, graphs, demo accounts, plus compatibility with top brokers like NinjaTrader Brokerage.
Brief Look at History
Since getting started in 2004, the privately held company headquartered in Denver, Colorado and Chicago, Illinois, has attracted over 60,000 users and 450+ developers. They offer a sophisticated trading platform that includes numerous charts and features, plus market data services. Thousands of apps of 3rd party apps, as well as add-ons, allow for vast customisation, fast order execution, and pro market analysis.
Additionally, NinjaTrader offers brokerage services that support discount pricing for both forex and futures traders.
NinjaTrader can be used in many markets, but what are the key information you need to know before installing the new version?
Firstly, there are no fees for using standard features of NinjaTrader. That guarantees free access to the following:
- Trade simulation
- Market analytics
- Advanced charting
- Backtesting & optimisation
- Automated strategy development
NinjaTrader is an open source framework, close to platform MetaTrader 4 (MT4). The difference is that while MT4 mainly attracts forex day traders, NinjaTrader is also popular among day traders on the futures.
If you do port it over, you can run NinjaTrader on Mac OS, Windows and Linux.
The platform is updated regularly. This update includes 500+ improvements, including changes in charting (more configuration), warning improvements, an improved interface, plus updates to data and performance. Nonetheless, developers aren’t going to stop there and more user-led enhancements are expected.
A quick look at the trading blogs and forums and you’ll see lots of people wanting to learn how NinjaTrader matches up to MT4, MT5, TradeStation, and MultiCharts. So, what distinguishes NinjaTrader 8 from the rest when there are so many options available?
- Customizability – They have built their clear software for traders who want to customize their software and technical indicators. You can consider floating windows and indicators which can not be found on other platforms.
- Set up – They carefully built their platform to allow a fast and trouble-free setup. You can download NinjaTrader 7 or 8 in less than ten minutes, and be up and running.
- Scripts – Experienced day traders also want multiple scripts obtained. NinjaTrader 7 was great for this and NinjaTrader 8 has programmers porting to their new updated version via scripts.
- Live simulation – This free trial either uses random data or modified live data once a day. When an effective strategy has been developed, you can upgrade to live real capital trading.
- Stop-loss capabilities – NinjaTrader has a smart program that lets you develop your plan so that all stop-losses and target orders are sent out as soon as you start a deal. It ensures that if you lose your internet connection or become disconnected from your broker, a costly tragedy will be avoided by your stop-loss and goal orders.
Given the amount of advantages NinjaTrader needs to be mindful of other disadvantages and dangers. Including:
- Market Analyser Speed – Some reports raise questions about business analyser pace when running scans if you use more than 100 symbols
- Apps – Anyone hoping for a native smartphone app from NinjaTrader for their Android or Apple devices would be left disappointed. To those who use NinjaTrader Brokerage access to CQG Mobile is available. Furthermore, a native smartphone app has been mentioned so iOS and Android users may soon be in luck.
- Difficult to learn – this was particularly true for version NinjaTrader 7. This has, however, been remedied to some degree with their new release, NinjaTrader 8. You will now find a range of online video tutorials, guides, and directories that will assist you along with their support team’s free daily webinars.
- Narrow focus – Today’s traders are particularly involved in the markets for bitcoin and crypto-currency. NinjaTrader does have capabilities for charting and analyzing Coinbase data directly incorporated into the platform but order execution is not currently available. NinjaTrader is currently ideally suited for live trading to support those trading futures, forex, stocks and CFDs.
NinjaTrader Tools & Features
One of the first questions many prospective day traders will have is about the offer of trading tools and features. Luckily, feedback from platforms and brokers show high levels of satisfaction with both.
NinjaTrader ranks exceptionally in terms of the charting capabilities. Their robust software can bring user-friendly and highly customizable solutions to your trading ideas.
- A simple and efficient visualisation of the market
- Multi-time frame plus an overview of various instruments.
- 100+ personalized pre-built indicators, as well as hundreds of optional third-party indicator add-ons.
You also have access to:
- Gap indicators
- News indicators
- Trend indicators
- Swing indicators
- Volume oscillators
- Reversal indicators
- Volatility indicators
- Value area indicators
- Divergence indicators
- Elliott wave indicators
- Average daily range indicators
SuperDOM order entry and trading management system by NinjaTrader gives enhanced customizability. You will benefit from the following:
- Clear visualisation of the exchange
- Single click on order entry, update, plus cancellation
- It can also be used with module Advanced Trade Management (ATM)
Advanced Trade Management
A strong selling point is NinjaTrader’s ATM module. Their advanced technology helps you to pre-define techniques for personal commercial management. Including:
- Numerous profit targets and stop-loss orders
- One-cancels-other (OCO) orders
- Auto-breakeven stops
- Trailing losses
This will allow you to produce greater profits as it will automatically send orders for entry / exit within milliseconds. Not to mention, the time and stress of manually handling multiple exit orders in competitive markets can be reduced.
Machine learning algorithms are rapidly depicting the scale of reviewbrokers.online. This is because if you have established a strategy that is consistently successful, automating it may increase your takes.
If you have programmed in your requirements, as soon as your conditions have been met, an algorithm/bot can join and exit trades. This will encourage you to do much more business than you would manually ever do.
NinjaTrader helps you to automate your trading strategy when it has been developed using NinjaScript or when it is in an external program.
You have the capacities to:
- Purchase and build automated strategies
- Automated techniques are analysed and implemented
- Dealing with signals from outside applications
- Either build or obtain custom chart indicators from third parties
NinjaTrader has an incredibly useful tool for market replaying. It downloads historical data so that you can rewind to a specific day and practice trading as if it were live in that market. For example, this is brilliant to build a plan, or get to grips with the Fibonacci rates.
Other Analytical Tools
The offering of NinjaTrader also extends to tools for trade results, plus analyzers for market and strategy. All of which could help boost the efficiency of your day-trading.
Additionally, NinjaTrader’s minimum system and hardware requirements are industry standard so most users will be able to download complete versions of 7 and 8. Manuals for programming and coding are then available in their video library.
Ultimately, you get a range of customizable charts and trade simulation programs in terms of the trading tools and apps. There are also comprehensive data streams, indicator lists, smart programming features, plus a robust support platform.
The trick to getting the most out of their offerings is to spend some time exploring their video library and educational resources after signing in.
NinjaTrader offers an variety of education and support to boost the use of their tools for trading. They have regular webinars, training videos, support guides, plus you can turn to an active group of users.
The approaches above will be able to help you with:
- Price quotes
- Stock scanners
- Different plugins
- Data subscriptions
- Order types and quantity
- Strategy templates & tutorials
- Brokerage withdrawals and funding
- Output windows and stop limit orders
If you still have unanswered questions, however, you can contact NinjaTrader by email or via their help platform. They have a 20-strong help desk team, consisting of specialists from NinjaTrader to ensure you get the most out of their platform.
Some of the instructional materials on offer revolve around commonly asked traders questions. For starters, most are “How to’s”:
- How to place a stop loss
- How to delete strategies
- How to trade futures
- How to use Ninjatrader 9
… And much more.
Often these questions are addressed directly via webinars, or video tutorials. The videos last about 2 to 3 minutes, covering very specific topics like charts or connecting to the website. Videos are also hosted by the Youtube channel but these are especially short.
Webinars last a lot longer and the traders need to sign up, but they go into much more depth and provide more profundity.
The NinjaTrader demo account provides a great opportunity for newcomers to familiarize themselves with both markets and the trading platform. Plus, it’s easy to download your sample account software.
Just go over to their website and click on Trade Futures or Trade FX. Then scroll down and enter your demo account details. All you need is an email address and to fill in your location. If you have not already done so, you will then be emailed your login information and the steps to access their app.
Overall, reports of trade simulators speak highly of this service and it’s not hard to see why. In Heiken-Ashi maps, aspiring scalpers will hone their skills while having exposure to playback features, demand and volume profiles, and more.
You can then open a live trading account, funded with real money, once you’ve built up your trust.
Once you register and log in with a demo account, NinjaTrader brokerage will also send you details. It will detail the exchange fees and other costs related to the services offered by their brokers.
The principal expenses are as follows:
- For a futures trading account the minimum deposit is $1,000.
- For a forex trading account the minimum deposit is $50.
- Trading margins for famous futures like the S&P 500 emini are $500 for the day.
- The futures for both Mini Dax and FTSE 100 have margins of $1000.
- You’ll find commissions starting at about $0.53 per deal. That will, however, depend on whether you are purchasing the NinjaTrader platform, or whether you are leasing it, or using the free version.
- A NinjaTrader lifetime license would cost you 1099$. Alternatively, you will pay $329 a month for four installments. This will cost $720 a year, $425 a six-month, and $225 a quarter if you want to lease.
A Lifetime NinjaTrader license will cost you $999. Additionally, you will pay $299 a month for four installments. It will cost $600 a year, $330 a six-month duration and $180 a quarter if you want to lease.
Even, if you choose to use the free edition of NinjaTrader it is worth remembering that commissions can be slightly higher.
NinjaTrader 7 vs NinjaTrader 8
The announcement of NinjaTrader 8 had been highly awaited. The 8 device specifications remain close to those for the 7, so you should be able to move to the other without too much trouble if you have one. The 8 can be found on Mac or Windows.
From the 500 improvements, the 8’s biggest enhancements include:
- Gaining momentum
- Bid-ask historical data
- Substantial changes to map
- Sub-second time-stamps on industry data
- Specific columns and indicators to be applied to SuperDOM
8 reviews show consumers are pleased with many of the updates, but if you don’t want to download the new update, then the complete 7 update will do the job well. Indeed, regarding the 8 download several traders point out much of your information and experience on NinjaTrader 7 would be directly applicable.
NinjaTrader 8 guides, strategy builders, and advice on backtesting can all be found by going to their trading forum or training video library.
It’s also worth noting that there are, sadly, zero smartphone NT 8 capabilities.
NinjaTrader operates as a trading site separate from brokers. There are also a range of UK and other sponsored brokers. NinjaTrader is in fact keeping a multi-broker license. This gives you, the trader, the option of where you will be doing your business.
There is therefore a chance of delays in communication between certain platforms. So if you’re looking for a seamless transition from platform to broker, you may want to pick one of the brokers currently available through the NinjaTrader Brokerage. They also endorse the majority of leading independent data service providers on the market, for example Kinetick.
In general, you’ve got a generous range of forex brokerages and futures brokers where you can use your NinjaTrader app. You can actually select from a variety of globally approved broker technologies, including:
- MB Trading
- TD Ameritrade
- Clear Corretora
- Interactive Brokers
- NinjaTrader Rithmic
- NinjaTrader Continuum
- GAIN Capital/FOREX.com
NinjaTrader further supports a range of additional suppliers of market data, including:
- Yahoo Finance
- Metastock Import
- IQFeed from Telvent DTN
- Text file based historical data import
For a comprehensive list of instruments, including equities, forex, and futures, see their brokerage website.
NinjaTrader Customer Service
Each second in the day-trading game costs money. So, you don’t want to sit around waiting for hours for NinjaTrader to repair a technological bug or account problem. Fortunately, they provide technical assistance 24/5 in a variety of languages, plus 24/7 emergency trade support, so no matter what the time zone, someone will be around.
You may expect to receive the following help:
- Setting up alerts
- Getting your account balance
- Ensuring you understand prices
- How to place stop losses and get currency prices
- Initial margin requirements and daily loss limits
- Directions to their strategy builder and examples
- Finding tick charts and automated trading strategies
- Information on holiday hours and important calendar dates
- Understanding license and leverage conditions, including intraday margin requirements and inactivity fees
While in the hours you need support, you can get technical and brokerage assistance, NinjaTrader lacks a live chat service feature that could accelerate the speed of remedy. Overall however, emails are immediately answered and their assistance is relatively industry standard.
See their website for the emergency commerce phone number for where you are located.
Connectivity problems, or not starting the program, can also be found in the Help Group, which is a fantastic tool. Any downtime (planned or otherwise) will be recorded initially there.
If you want powerful tools and market data, NinjaTrader may well be worth exploring. Having said that, it can take several weeks to get to know the software, particularly novices. While they lack a native iPhone or iPad app, or an Android one, you can access your account on the go using CQG Desktop if you are using NinjaTrader brokerage.
Overall, you get an involved trading community, a range of educational tools and a high degree of customisability. All of which will improve your trading efficiency and boost those all-important intraday profits. When you choose NinjaTrader Brokerage, small margins and commissions will come in handy as well to keep costs down.
NinjaTrader only acknowledges traders from the U.S., the Netherlands, New Zealand, Norway, Nigeria, Poland, Portugal, the Russian Federation, Saudi Arabia, Singapore, Spain, Sweden, Tokelau, Australia, Austria, Bulgaria, Belgium, Brazil, Cyprus, Czech Republic, Denmark, Finland, Egypt, France, Switzerland, Germany, Hong Kong, India, Japan, Argentina, Chile, Mexico, Bolivia, Colombia.