Forex data feed for ninjatrader review
Learn about our editorial policies Founded in , NinjaTrader offers software and brokerage services for active traders. With a funded account, the NinjaTrader platform is free to use for charting, market analysis, and live trading the SIM version is free even without a funded account. The NinjaTrader platform is ideal for active traders who want lots of technical analysis tools.
The platform boasts excellent charting, real-time analysis, customizable technical indicators, Chart Trader a chart-based order entry tool , and thousands of apps and add-ons from 3rd-party developers. As a brokerage, NinjaTrader offers access to the futures and forex markets. The company has partnered with several supporting brokerages, including Interactive Brokers and TD Ameritrade, to give traders access to other markets, including options on futures, CFDs, and equities.
Pros Excellent charting, great technical analysis tools, as well as partial and full strategy automation The NinjaTrader Ecosystem offers thousands of apps and add-ons from third-party developers Learn the platform and practice trading before risking real money Platform guides, video library, and free daily webinars Cons Basic platform features are free with a funded account, but you'll need to pay to access premium features Easy setup for futures and forex traders, but you'll have to use a supporting broker to trade equities NinjaTrader brokerage clients can use the CQG mobile app, but there's no app yet if you're using another broker Trading Experience The NinjaTrader platform has clean, fully customizable charts.
It's easy to change colors for background, crosshair, gridlines, text, etc. You can easily insert technical indicators, strategies, and drawing tools, which are all customizable within the chart. The platform supports a great selection of bar types—including time-based, tick, volume, range, Heiken Ashi, Kagi, Renko, and Point and Figure bars—plus a good variety of chart styles, such as candlesticks, OHLC with variants , Kagi Line, and Mountain.
You'll have access to several easy-to-use order entry interfaces, including Chart Trader, a terrific tool that allows you to place and manage trades directly from a chart NinjaTrader was one of the first platforms to offer this. The platform supports all the usual order types, including market, limit, stop market, and stop-limit orders as well as advanced OCO one cancels other orders. If you're interested in automated trading, NinjaTrader's ATM Strategies provide discretionary traders with semi-automated features to manage their positions.
Alternatively, you can fully automate a strategy using a "point and click" construction for non-programmers, or by using NinjaTrader's C -based trading framework. Monthly data fees are required with a full market depth option, or you can get top of book data for reduced fees. Data fees depend on the exchange. You can play, pause, and rewind historical price data on a tick-by-tick basis using NinjaTrader's Market Replay feature—a tool that's helpful for backtesting, trade practice, and other trade-related research.
The installation process is straightforward, and as soon as you launch the platform, you can open charts, customize colors, and add indicators and strategies. To insert a symbol to a chart, just type it into the chart. The platform is robust with lots of tools and resources, and it takes some time to learn how to use all the features.
Fortunately, NinjaTrader hosts free weekly webinars to help you get started. Topics include connecting to data, one-click order entry, how to set up a workspace, basic chart creation, advanced settings, and strategy automation. Sim trading can be especially helpful to newer traders who haven't had much practice placing trades—and dealing with the inevitable mistakes that happen, such as costly order entry mistakes e.
Thus, users of the software can create their indicators and drawing tools, layouts, and partially automated systems. Features NinjaTrader is an excellent addition to the trading tools of an online broker. This includes advanced charting functions, market analyses, the development of automated trading strategies, back-testing, market analytics, various optimization functions, and trading simulations.
Charts Interested investors have the opportunity to test NinjaTrader 8 intensively and even place simulated orders on the stock exchanges in real time. Only traders who want to execute their live trades with a real money account need to buy a license or use the paid leasing model. However, until then, it is possible to work cost-efficiently without investing one dollar in the trading platform.
A clear plus. NinjaTrader can be used without restriction for simulated trading under real market conditions paper trading to develop trading strategies. The current version now also has a good trading journal that leaves nothing to be desired and has all important key figures firmly integrated. This makes the creation of a trading journal even easier. Charting market data on your mobile device and mobile trading is currently not supported. We have to wait for a couple of reviews once the app, which is now in development status, is published.
Trading Strategies Whether day trading, swing trading, scalping, FOREX, futures or equities, discretionary or automated, NinjaTrader 8 offers the perfect mix for every trader. The only thing I think is missing is a self-learning functionality based on artificial intelligence. With a selection of more than 1, apps and add-ons, the platform can be expanded according to your preferences and ideas. Private investors are supported, in particular by the free version when learning to trade.
This is because trading strategies can be created and tested with the integrated paper trading functionality. A further advantage: The platform can be used free of charge for almost the entire range of functions. As soon as you are ready for live trading, various options are available for using the software, e. As already mentioned, the exchange software can be either rented or purchased for unrestricted use.
For investors who want to use NinjaTrader 8 live over a long period, the Lifetime license certainly offers the best price-performance ratio. NinjaTrader also provides advanced features and tools traders looking for frequently, like optional order flow analysis capabilities, which can be considered as an advanced charting feature. Hundreds of add ons are provided within the community. Kinetick Besides, Kinetick provides a data feed for stock quotes that enables the free use of end-of-day data within the NinjaTrader 8 platform.
The trading platform can be connected to the free Kinetick data with just a few mouse clicks. Once configured, NinjaTrader can be started simultaneously via the Kinetick feed, including the stock exchange prices.
I received feedback from a disappointed customer that he got charged for using Kinetick while thinking that the EOD data is for free. There are two things to consider before taking action. If you subscribe to the Kinetick data via their website, you will get charged for the service you chose, and you will not get back your money back if you subscribed my mistake.
In other words, subscribing to Kinetick makes only sense if you want to use intraday data. Kinetick Alternative Here is a clever alternative for those of you who are okay with using NinjaTrader 7. But there are two downsides too. First, only NinjaTrader 7 can be used, while NinjaTrader 8 does not support that connection anymore. Also, you need to be aware that you cannot use the TradeStation data feed to trigger live-trades within NinjaTrader.
That makes this solution an excellent choice for the trader that wants to test at a low budget and develop strategies without costs for exchange data subscription. Strategy Builder The further development of the new Strategy Builder from NinjaTrader Broker enables less experienced trading beginners to design and develop new strategies without programming knowledge. A fully automated trading strategy can be developed and designed by inexperienced traders via point and click with comparatively little effort.
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