NinjaTrader help & advice / course?

[altrade2win]

Evening all,

I'm still new to trading and have spent a good deal of time reading on the subject of strategy, money management, plans etc. However, I'm now at the stage of getting an execution platform and data feed etc.

I've plumped for NinjaTrader and I'm now looking for a data feed with the intention of eventually using Futures Betting as a broker for this once I am convinced that I can make some money.

At this stage though NinjaTrader is pretty daunting, esp wrt what data feed, creating strategies, starting to code in NinjaScript etc etc etc.

Aside from the obvious i.e. forums and ninjatrader help/support, can anyone recommend any good resources for starting? i.e. are there any courses (formal or informal)?

And also what the best data feed is. I've just signed up to open tick but even with little things I'm kind of in the dark here. Seems that FB is based on underlying futures mkt so initially guess I only need a futures data feed?

There must be an easier way to learn all of this than sitting in a dark room with a mouse and searching forums/websites?!

Can anyone help! I guess ideally I'm looking for a 1 day overview of everything but I'm not sure that it exists ...?

Thanks,
Al

 

[shadowpug]

We break out our free appication training session by the "day" and you can attend them at your leisure.

The current schedule is located here - Online Trading. NINJATRADER. Online events.

 

[grantx]

Altrade,

Assuming Future Betting is a spread betting outfit, I don't think you will be able to you execute trades through NinjaTrader - spread bets and their underlying markets (futures, indices, etc) vary, sometimes considerably, in price.

If you have the financial resources (a few thousand dollars), trade through a futures broker which will allow you to use NinjaTrader. You will also get far better prices, ie what you see on your screen (95% of the time anyway).

Grant.

 

[altrade2win]

Altrade,

Assuming Future Betting is a spread betting outfit, I don't think you will be able to you execute trades through NinjaTrader - spread bets and their underlying markets (futures, indices, etc) vary, sometimes considerably, in price.

If you have the financial resources (a few thousand dollars), trade through a futures broker which will allow you to use NinjaTrader. You will also get far better prices, ie what you see on your screen (95% of the time anyway).

Grant.

Hi Grant, thanks for the post. I know about this variation with SB companies, but NinjaTrader is supported by Futures Betting (info on both sites about it) and with FB the prices are apparently related to the underlying futures market. Of course, this info is just from me reading the websites so if anyone knows any better please jump in here and let me know.
thanks
Al

 

[grantx]

Al,

I'm surprised that Ninja is supported. So be it. Take all their money.

Good trading,

Grant.

 

[andy2001]

Al,

I'm surprised that Ninja is supported. So be it. Take all their money.

Good trading,

Grant.

Futuresbetting.com is not a normal spread betting firm. It sends all orders to the underlying futures market and you are filled when they are filled at that price. The feed the give you is the futures market feed not there made up price. They make money by charging commission but they call it a spread instead of commission. So its tax free. The only problem is the commission/spread is a lot more than someone like IB so the possible tax saving may not be worth it. If swing trading it could be a good choice, but if you want to take 1 to 2 point trades on the ES you will be paying to much commission.

 

[grantx]

Andy,

Thanks for the clarification.

Grant.

 

[altrade2win]

Thanks. I'd need to some research and calculations ... but is the spread so bad that it could offset CGT? That seems fairly substantial.

Is the same the case with Twowaymarkets Ltd : CFDs, Futures, Spreads, Forex and Managed Accounts - they seem to have a similar model.

cheers
Allan

 

[andy2001]

I can't tell you how it will work out for you but here is the cost per round turn for IB and Futuresbetting for the ES.

IB under 300 contracts per month $4.70prt
IB over 300 contracts per month $4.30prt

Futuresbetting under 200 contracts per month $20.00prt
Futuresbetting over 200 contracts per month $13.00prt

IB do pass on data fees for some markets which Futuresbetting do not so thats one little thing in favour of Futuresbetting.

 

[grantx]

Andy,

If you did that volume per month with Futuresbetting you could afford a Reuters feed with all the exchanges (well, almost).

Grant.