Beginner's Guide To NinjaTrader: Advanced Features
The NinjaTrader platform offers a number of advanced features that can benefit traders of all levels and styles.
Advanced Trade Management - ATM Technology
NinjaTrader provides the option to trade with or without an Advanced Trade Management (ATM) Strategy, shown in Figure 17. ATM Strategies are designed to provide discretionary traders access to semi-automated features to manage positions. Note: NinjaScript Strategies are required for fully automated trading systems.
Figure 17: The ATM Strategy window where traders can specify quantity, stop loss, profit target and stop strategies for each trade
· Fewer order entry mistakes (pilot error)
· Better speed (the computer sends the order instead of the trader)
· Increased discipline (easier to stick to a plan)
· Higher consistency
· Reduced emotions
Advanced Charting with Multi-Series Charting
NinjaTrader offers the ability to view multiple charting intervals and multiple instruments within a single charting window, as shown in Figure 18. To add more than one charting interval or instrument to one chart, click "File" > "New" > "Chart" and add the desired symbols to the lower left data series window. Highlight any instrument to adjust variables, including Period (chart interval). Click "OK" and all of the symbols will appear on one chart. Different trading indicators can be applies to each symbol. (For more, see Using Trading Indicators Effectively.)
Figure 18: Multiple Series Charting allows traders to combine symbols, chart intervals and indicators on one price chart
Automated Trading Using NinjaScript
NinjaScript is NinjaTrader's proprietary, C#-based programming language. While outside the scope of this introductory tutorial, users can create custom indicators and strategies using NinjaScript. These indicators and strategies can then be applied to charts, backtested, traded, and used in strategy automation. NinjaTrader offers frequent, free webinars to assist traders in learning the different features of NinjaTrader, including how to use NinjaTrader's Strategy Development tools. Traders also have the option of working with a qualified NinjaScript programmer to develop custom trading ideas. A list of NinjaScript Consultants can be found on the NinjaTrader web site.
Third-Party Developers and Add-ons
Traders can purchase commercial indicators and strategies from a growing body of third party developers. These products have been developed specifically for the NinjaTrader platform, and are available for outright purchase or lease. To protect their proprietary software, most developers will require the trader's NinjaTrader Machine ID number to activate a license specific to that trader's computer. The Machine ID can be found in the Control Center under Help > About. A list of third-party developers can be found on the NinjaTrader web site. Beginner's Guide To NinjaTrader: Conclusion
A transaction that can cancel out a forward contract that has ...
The security that is delivered by the short position holder in ...
A financial instrument whose value is based on the value of another ...
A momentum indicator that uses a stock’s price and volume to ...
A trading strategy in which an investor buys a long position ...
A standard agreement used in over-the-counter derivatives transactions.
Learn about why futures contracts are often rolled over into forward month contracts prior to expiration, and understand ...
Learn how companies use futures contracts for the purposes of hedging their exposure to price fluctuations as well as for ...
Learn about values of futures contracts and the initial margin a trader must place in an account to open a futures position, ...
Learn more about oscillator indicators, technical momentum measures that are used by traders to predict potential market ...