Ninja Trader Review and User Guide [Update 2021]

NinjaTrader is a forex trading platform mostly for retail traders. It is unlikely that any hedge fund would be using this platform. The platform is owned by NinjaTrader LLC, a US company. NinjaTrader LLC is a member of the National Futures Association (NFA # 0339976), well known for providing top-notch trading options. NinjaTrader uses Advanced Trade Management (ATM) technology which made them excel in the broad field of trade management. To this end, the indicator under study helps to ensure open client agreements.

The NinjaTrader platform allows trading of CFDs, stocks, foreign exchange contracts, and futures contracts. The NinjaTrader platform is used by many popular forex brokers which are based in the United States. Unlike MetaTrader or cTrader, which is only a platform provider, NinjaTrader is actually a broker as well.

About Ninja Trader

A quick look at trading blogs and forums and you will see plenty of people want to know how NinjaTrader measures up vs MetaTrader 4 or MetaTrader 5. So, with so many options available, what separates NinjaTrader from the rest？

Benefits

• Customisability – Their straightforward platform has been designed for traders who want to customize their platform and technical indicators. You will find floating windows and indicators that are simply not available on other platforms.

• Set up – They have carefully engineered their platform to allow for a quick and hassle-free setup. In less than ten minutes you can have downloaded NinjaTrader 7 or 8 and be up and running.

• Scripts – Experienced day traders often like having access to plenty of scripts. NinjaTrader 7 was fantastic for this and NinjaTrader 8 has programmers poring over scripts to their new updated version.

• Free simulation – This free trial uses either random data or live data updated once per day. Once you have honed an effective forex strategy you can then upgrade to live trading with real capital.

• Stop-loss capabilities – NinjaTrader has an intelligent system that allows you to build your strategy so both stop-losses and target orders are sent out as soon as you enter a trade. This means if you lose your internet connection, or you are disconnected from your broker, your stop-losses and target orders could prevent a costly disaster.

Drawbacks

Despite the number of NinjaTrader benefits, there are certain drawbacks and risks to be aware of. These include:

• Market Analyser Speed – Some reviews highlight concerns over the speed of the Market Analyser when running scans if you are using over 100 symbols.

• Apps – Those hoping for a native NinjaTrader mobile app for their Android or Apple devices will be left disappointed. Access to CQG Mobile is available for those using NinjaTrader Brokerage. In addition, there have been discussions about a native mobile app so iOS and Android users may soon be in luck.

• Difficult to learn – This was particularly true for the NinjaTrader 7 version. However, to a certain extent, this has been remedied with their latest offering, NinjaTrader 8. You can also now find a range of online video tutorials, guides, and websites that will assist you along with free daily webinars hosted by their support team.

• Narrow focus – Todays day traders are increasingly interested in trading bitcoin and cryptocurrency markets. NinjaTrader does provide charting and analysis capabilities with Coinbase data integrated directly into the platform but order execution are not currently available. For live trading, NinjaTrader is currently best at serving those trading futures, forex, stocks, and CFDs.

NinjaTrader Review

One of the first questions many prospective day traders will have is regarding the trading tools and features on offer. Fortunately, platform and brokerage reviews report good levels of satisfaction with both.

User Interface

In general, the user interface looks a little bit complicated and nowhere near as crisp and sharp as cTrader or MetaTrader. If you have ever seen a trading platform used as a movie prop, NinjaTrader looks a bit like that. There a number of different screens inside the platform, with each screen has its own context. For example new order windows, chart panels, and tickets. The interface is classic with a decent amount of information displayed throughout.

The NinjaTrader platform is one of the industrys best-known standards for transaction management and order entry.

Charting

In terms of charting capabilities, NinjaTrader scores highly. Their comprehensive tools will complement your trading ideas with user-friendly and highly customizable systems.

They provide:

Clear and powerful market visualization

Multi-time frame plus multi-instrument analysis

In excess of 100 pre-built customized indicators, as well as hundreds of optional third-party indicator add-ons.

You can expect access to the following:

• Gap indicators

• News indicators

• Trend indicators

• Swing indicators

• Volume oscillators

• Reversal indicators

• Volatility indicators

• Value area indicators

• Divergence indicators

• Elliott wave indicators

• Average daily range indicators

Order Types

As expected, NinjaTrader provides traders with several order entry options, including the Basic Entry, SuperDOM and Chart Trader interfaces. More advanced order types, including Market Touch (MIT) and One Cancels Other (OCO), can also be valuable tools for traders.

Besides these more unique order types, which cTrader mostly doesn‘t offer. They are all derived from 3 basic order types. They are Market orders, Limit orders, and Stop orders. Based on these order types the platform’s software developers are able to develop more complex order types, such as the ones mentioned already and others such as Stop-Limit Orders.

Automated Trading

NinjaTrader offers expert advisors that are easy to use, customizable, and work well for new operators and specialists; while cTrader is equivalent to a programmable command in C#. However, NinjaTraders advanced account is still widely regarded as having one of the best support features in its class for its automated trading tools, but cTrader has caught up fast in recent years.

When comes to automated trading, neither NinjaTrader nor cTrader can not compete with MetaTrader 5, a platform designed to use trading robots (Forex EAs). Additionally, MT5 is compatible with different Expert Advisor Builders created by 3rd party developers.

Conclusion

NinjaTrader is popular for its simplicity, flexibility, built-in tools, and expert advisors. But its subscription package might be a big turn-off. However, the strength of cTrader lies in its excellent user interface, its sophisticated features such as market depth, as well as its various indicators and economic calendars.

Ninja Trader is one of the oldest platforms in the industry and is still preferred by a small section of traders for their ease of use and for their ability to be small but still pack a punch. It has some special features that include the order entry and the type of orders that can be u through them, something which cannot be matched by the other platforms.