Ninja Trader Platform Overview and Setup Tips

Jul 28, 2024

Ninja Trader Platform Overview

Introduction

  • Purpose: Understand Ninja Trader platform to read charts and execute trades profitably.
  • Focus on tips and tricks for effective use.

Getting Started with Ninja Trader

  • Initial Setup:
    • Upon first opening Ninja Trader, the initial window will be displayed.
    • Go to Connections to configure data sources.
  • Connection Status Indicators:
    • Red: Not connected
    • Yellow: Connecting
    • Green: Connected
    • Gray: No activity

Managing Accounts

  • Account Types:
    • Sim Trading Account
    • Real Trading Account
  • Editing Sim Account:
    • Right-click to edit/reset
    • Align commission structure with the live account for realistic simulation.

Chart Setup

  • Creating a New Chart:
    • Go to New -> Chart to set up a new chart.
  • Settings:
    • Choose market and expiration dates.
    • Load desired days of data for analysis.
    • Customize candlestick colors and styles.

Chart Properties and Navigation

  • Customizing Chart:
    • Right-click on chart for properties, adjust visibility of grid lines.
    • Options to change grid lines based on ticks or fixed values.
  • Drawing Tools:
    • Access through right-click for trend lines, channels, etc.
    • Save drawing settings for future use.

Features of the Chart Trader Tab

  • Order Placement:
    • Right-click on the chart for order options (buy limit, stop loss).
  • Active Trader Settings:
    • Allows setting stop loss and profit target when placing trades.
  • Hot Keys:
    • Set hotkeys for quicker access to drawing tools and trading orders.

Saving and Templates

  • Saving Charts and Customizations:
    • Save layouts for future use to avoid rebuilding each time.

Help Resources

  • F1 Key: Opens help based on the current tab, useful for troubleshooting features.

Advanced Features

  • Customizable Indicators:
    • Install and manage custom indicators to enhance analysis.

Playback and Data Management

  • Playback Mode:
    • Download and play back market data for practice.
  • Trade Performance Analysis:
    • Use performance tab for detailed analytics of trades.
    • Statement reports for live and demo accounts (potential data corruption issues).

Conclusion

  • Understand features of Ninja Trader can significantly enhance trading experience and profitability.
  • Video will cover strategies used to achieve financial goals using the platform.

Additional Note: Always keep a backup of your data to avoid loss due to potential corruption issues.