NinjaTrader Trading Platform Product Review

Image © NinjaTrader, LLC.

NinjaTrader, LLC, is a highly regarded software development company best known for its award-winning NinjaTrader application. Based in Denver, Co., with offices in Bamberg, Germany and Amsterdam, The Netherlands, the company works with hundreds of brokerages across the globe.

NinjaTrader offers a feature-rich, end-to-end trading solution for active traders of stocks, futures and Forex. It is considered one of the most comprehensive broker-independent trading systems available in the market today.

 

Cost

 

The NinjaTrader program is free to download and try out, enabling users to become fully familiar with the platform and the majority of its features. Traders get free, unlimited access and can engage in trade simulation, backtesting, signal development and comprehensive evaluation of the program until they are ready to begin live trading with the platform. At that point, a trader can elect to buy or lease the program. An annual lease is available for as little as $50 monthly and a lifetime license can be purchased for as little as $1,000.

Traders interested in real-time quotes and historical data must purchase a separate data feed. Kinetick Data Service is partnered with NinjaTrader and offers a live-streaming data feed for $50 per month, but traders can select the data feed provider of their choice. Additional data exchange fees are applicable.

In my experience, the NinjaTrader fees are quite economical compared to most other broker-independent trade packages available in the market.

 

Installation

 

NinjaTrader 7 is a downloadable program available directly on the NinjaTrader.com website. The software is easy to install, but there are minimum system requirements:

  • Windows XP (SP3 Required), Windows Vista, Windows 7, Windows 8 or Windows 2003 OS
  • Minimum screen resolution of 1024 x 768
  • Minimum P4 Processor or higher
  • 2GB RAM
  • Microsoft .NET Framework 3.5

Once installed, a trader can obtain the free license key directly from the company and begin to familiarize themselves with the various features right away.

 

Charts and Tools

 

The NinjaTrader charting package is robust by any measure. Traders are provided with a full array of customizable charts, stock analysis and screening software, a trade simulation program, a market replay feature, outstanding drawing tools, more than 100 technical indicators and an extensive indicator library. The indicators provided are fully customizable and can be easily modified by a trader. The NinjaSript tool provided in the package enables traders to create their own indicators for use on the platform. The most impressive feature is the ChartTrader chart-based order entry tool, which gives users the ability to enter, modify and manage trades directly through the charts.

 

Trade Execution

 

Trades are executed on the platform through either the NinjaTrader SuperDOM tool or the aforementioned chart-based order entry feature. Both order systems are extremely reliable. SuperDOM allows for automated trade management after trade execution, based on preprogrammed profit targets and trailing stops.

Most telling is the fact that many trade management systems have created modified SuperDOM tools for use in their own programs. I myself have used both trade entry tools extensively over the past five years with no issues whatsoever.

Features

The NinjaTrader platform comes loaded with an integrated suite of features, services and tools, facilitating smooth and reliable order entry, advanced charting and technical analysis, advanced market analytics and screening, automated strategy development, automated trade management, automated trade execution, backtesting, trade simulation and the ability to trade directly from the charts.

Customer Service

The NinjaTrader program does come with a learning curve and takes some time to get comfortable with, especially for newer traders. The company offers an extensive and very-well organized online reference library, as well as a pretty decent forum. That said, customer service and support, which in fairness has improved, continues to be the one weak area at NinjaTrader compared to most other services.

Recommendation

Hands down, the NinjaTrader program is as feature-rich as any other software trading program available in the market today. Moreover, it is a great value when you factor in the price. For the money, it is the best system on the market - one I both use and recommend.