Ninja Trader or MT4

Hi People Have been Backtesting in MT4 (with Alpari data ).
I Have been told by numerous people use Ninja trader instead.
what do you think...................... ?.

I too would like to use ninjatrader but do not know what is going on with them. I think now you have to buy license and also sign up to specific broker. Are they any good for backtesting?

Ninja Trader has a very limited number of brokers that support it. Check to make sure you like the broker list or you could end up wasting a lot of time.

NT is still free. Trouble is there is no free data feed, unless you have a live account with one of their vendors. Except: Gain still has their archive of historical tick data. You can download that, import it into NT, and do your tests. MT4 is easier to work with. NT is c-sharp.

I also have been looking for alternative platforms to MT4. I like ninja, but also the other day I came across a platform called Pathfinder trader, it seemed nice but I can't remember where I saw it. Does anyone know anything about it?? Is it any good?

I use Ninjatrader. It is solid and solid reps. Basically you can can trade all you want on simulated mode, but when you go live, you have to pay.

From a programming standpoint, Ninjatrader is superior to Metatrader. Ninjatrader has a more robust backtesting ability and strategy creation. In fact, you can "point and click" and create strategies to trade and backtest. I'd recommend it any day over Metatrader.

The only thing I like about Metatrader is that it's like 2 megabytes large.

Couple of questions regarding Ninja:

1. If I get the paid Ninja Trader, and I have an account with Interactive Brokers. Then - on Ninja Trader is it possible to get free data feed from IB for all stocks/options/futures/forex on the Ninja Platform??? Is it free connectivity?

2. Can you trade stocks, options, futures, forex on Ninja?

3. Can you setup auto trading or scan for stocks on Ninja based on certain criteria?

4. If I want to trade stocks, what is the best platform then?

Thanks.

Can anyone here please elaborate on exactly what the benefits of Ninja trader are? My understanding was that using them your broker would not know your stop loss or take profit. Do I have this knowledge wrong?

Same as MT4/MT5 - You can NOT place a StopLoss/TakeProfit on any order and have your robot close the order when your conditions are met otherwise you can simply add the SL/TP to the original order if you want. Your choice.

Ninja is far superior than MetaTrader. The best thing for you to do would be to download Ninja and play around with this platform to arrive at your own conclusions.

Hello Dear Fellow Traders,

I’m not started trading live yet, and I still have to decide which trading platform to use. I have a clean state, so I would use virtually any platform (now I’m thinking about MetaTrader or NinjaTrader).
I plan to trade primarily (but at the start, exclusively) spot forex. I would trade intraday, short time frames. I wouldn’t use fancy indicators or DOM, Market Profile, Volume Ladder, just moving averages.

I know the vast majority of the traders here use MetaTrader. What might be the reasons for this?

· Is it because MetaTrader is known specifically as a forex trading platform? Actually, the most widely known trading platform for forex?
· Or is it because the forex market is unregulated, and the small and little-known brokerage firms (some bucket-shops among them) offer primarily (or only) MetaTrader?
· So does this mean lots of forex traders started to use MetaTrader not because it is any better than for example NinjaTrader, but because this was their only (or best) choice? I mean lots of small forex brokers offer only MetaTrader, so you can’t chose anything else.

Maybe there are some features or advantages of MetaTrader (over NinjaTrader) that I don’t know…
I would like you to share your thoughts about this.

As I know, there are several forex brokers offer NinjaTrader, so the number of brokers offering MetaTrader is not a main factor.


I have come across the following arguments about MetaTrader. What do you think about these?:

· “MT4 will never compete with NT in terms of execution speed and therefore slippage?”

· “NT is superior if the instrument is exchange traded.” Is NT also superior regarding forex trading, or there are other factors to take into account for forex trading what make MetaTrader a better choice?

· “scalping on low timeframes is not a great strategy on MT4.” Is scalping more viable through NinjaTrader? Why is this? If I would use an account at a big, reputable brokerage firm to trade forex (assume this broker offers both MT and NT), the slippage would be bigger in case of MetaTrader than in case of NinjaTrader? Why?

· “MT4 has great position sizing flexibility” Isn’t NinjaTrader as flexible on position sizing as MetaTrader? This is very important to me, so please, elaborate this, if you can.

· If one can find a reputable forex broker (e.g. a big commodity broker also offering forex), and it offers not only MetaTrader but NinjaTrader also, isn’t it a straightforward decision to choose NinjaTrader because of the above claims about MT?


How should I choose?
Does MetaTrader offer something that would reason sticking to it?
Or conversely, NinjaTrader offers some things that would reason choosing a broker offering NinjaTrader (even if this considerably narrows down the number of possible brokers)?
Or finally it comes down to a matter of taste?


Thanks for sharing your thoughts.
Successful trading to all of you.
Arpad

You don't pay for Metatrader. If Ninja was a free platform for trading, Metatrader would be finished.

There are not...

NT is superior in any respect for forex than MT. If there is one thing where NT may disappoint you are bugs. Metatrader is a simple piece of software with little features therefore it is easy for its users to report bugs and for developers to get rid of bugs.

MAN, just dowload NT and check for yourself.

Thanks for your thoughts.
It’s very logical what you say.
Now I see clearer.

I just thought there must be something about MetaTrader (besides you don’t have to pay for it) what makes it better than NinjaTrader for forex trading.

I wonder how is that possible that lots of people love MetaTrader, use it with great satisfaction, while NinjaTrader (apparently) is so much sophisticated… maybe you don’t have to have such a big arsenal of features to trade successfully? Maybe those so called advanced features are there because people like them, but “advanced features” and effectiveness in trading aren’t heavily correlated…?

Maybe people love MetaTrader (besides it is free) because it does the things that really matter simpler than NinjaTrader, and at the same time simpler doesn’t mean worse?


Anyway you are right, I have to try it myself. I have tried NinjaTrader already, and it really has a big arsenal of advanced features. I especially like the ATM (Advanced Trade Management) functionality of it, with which you can very easily manage your entries and exits in a discretionary manner, and do scale-ins and scale-outs easily.
I haven’t tried MetaTrader yet.

MT4 is a easy way to start with automated trading. Its easy enough for newcomers and sophisticated enough (for clever programmers) to do some very slick things. It has a buttload of support, forums, trading EA's, indicators and discussion groups that support EVERY approach and aspect of trading. MT4 is a great doorway into sophisticated trading for simple folks (like me). I would never have imagined that I could trade foreign currencies so easily with so much documentation, support, Free EA's, thousands of indicators and group discussion details proper usage. Also getting your strategies programmed costs significantly less since there are so many MT4 coders (Ahem,.. If you need a EA made PM me) - That said MT4 is a Broker platform and has 1000X ways for them to squeeze profits from YOU.

NT takes that concept and ups the game!! (actually MT4 is a Forex 'For Dummies' NT) - If you want to trade stocks, futures, options, etc.. and Forex you'll probably need NT since most MT4 brokers only trade Forex. NT gives you the power but the community is a lot smaller. If you've used MT4, finding duplicates of favorite indicators might be impossible. The strength and weakness of both is the brokers. MT4 has many but most are shady. NT has few so an 'all eggs in one basket' danger exist. The broker is your connection to the financial markets and you should choose a broker FIRST! - See what technologies they support and make your choice from there.

MT4 is a very active and supported community but you're dipping into the kiddie pool trying to train for the Olympics. Its possible and everything is there for you to succeed but dangers abound. Caveat Emptor!! - NT is Pro and very capable and you're definitely in the big Olympic pool but sometimes you're gonna feel like its just you and your water wings when you have a problem with programming or your broker and your options for resolution.

Aja,

Thanks for your detailed answer.
Now I see even more clear. :-)


And what’s the truth about the MetaTrader Virtual Dealer Plug-In and the nasty things dealers can do with it?
http://www.forexfactory.com/showthread.php?t=70582

The question is, if you choose a trustworthy broker, may you choose MetaTrader (if you think it is better for you), or regardless of the trustworthiness of a broker, MetaTrader bears a higher level of risk (fraud) compared to e.g. NinjaTrader?
Or if you choose a big, well-known, trustworthy commodity-futures broker who also offers forex and MetaTrader, (e.g. Interactive Brokers, PFG Best etc.), this guarantees that the use of MetaTrader with him as safe and non-fraudulent as the use of e.g. NinjaTrader?

And what about slippage and re-quotes that some people complain about? Do they occur only at fraudulent MetaTrader brokers?
So what if you trade through a big, well-known, trustworthy broker? Even at such brokers you face bigger slippage and slower execution with MetaTrader compared to NinjaTrader?


Thanks in advance.

Good brokers dont play games, shady one do. Read the comments in the broker thread to sort through the crap. The infamous virtual dealer is used by the most BUT the crooks always take it to the MAX!! - A dealer adding 0.25 of a pip is one thing, not filling your orders when you're in the profit is another!!

MT4 is FREE. Charts, data feed, order entry, scripts, etc.
NT4:
1) FREE. Charting. (No free data feed (Thanks to CFTC).)
2) NOT FREE all the rest.
So you need to compare the Paid-For-Version to All-The-Other-Paid-For platforms out there - and there are many.
eSignal, TradeStation, CQG, etc.
Maybe there is a good platform for free. I don't know.
Open-E-Cry? perhaps.
But, just like banks. There's one on every corner.
Try them all until you find one you like. (30-day trial)

I use free NT 6.5. Will not pay for it unless it gets a lot better.

I found it here. Don't know anything about it. Looks interesting though.

Try this: http://www.multicharts.com/ Much better than MT and slightly better than NT. There is also a free version of this software that allows you to place trades through multiple forex, stocks and futures brokers.

Yeah, thanks for the recommendation.
I know MultiCharts is great, that is on my list of prospective trading platforms (at the top). :-)
One of the fantastic features I like in it is the 3D surface chart it offers for display optimization results.
I think, MultiCharts will be my trading app, but not yet.
The most important advantages of MultiCharts might be the better backtesting and optimizing capabilities, and maybe the simpler system creation, programming with Easy Language.
Since I haven’t traded live yet, first I need to get experience. The discretionary order and position handling part of NinjaTrader is as super as in MultiCharts (AFAIK), and NinjaTrader has more brokers to choose from. But maybe you are right, why not starting with MultiCharts? Maybe this should be the way right from the start, I’m not sure…

One thing that bothers me is that MultiCharts haven’t released version 7 in which you could find the discretionary trader parts. There is a standalone app for discretionary trading, but I don’t know how good it is, and how does it compare to the “real” MultiCharts application…

Anyway, what do you think, on which one is easier to program systems, on NinjaTrader or on MultiCharts?