MyFxTools
  • Expert Advisors
    • Reviews
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading
No Result
View All Result
  • Expert Advisors
    • Reviews
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading
No Result
View All Result
MyFxTools
Home Analytical Tools

Motivewave vs. NinjaTrader

by Myfxtools
January 20, 2022
in Analytical Tools
0
Motivewave vs. NinjaTrader
0
SHARES
27
VIEWS
Share on TwitterShare on Facebook

Choosing the right online broker can make or break one’s investing career. While most attention is usually paid to the kind of services they offer and the fees they charge, it is also important to analyze the platforms on offer. Technological advancements have given rise to software, all coming with unique features and edges. Motivewave and NinjaTrader are some of the platforms that stand out.

forex ea chart
Would you like to try out trading with an Expert Advisor?
Check Out Best Forex EAs Here

Understanding Motivewave

Here is one of the best platforms on the range of technical analysis tools it comes with, as well as the range of brokers that offer it. The highly accomplished software is well suited for Mac and Personal computers and ideal for stock and forex charting.

Introducing Motivewave

It stands out given the integration of almost everything that users might need to analyze stocks and currency pairs in-depth. Some of the advanced tools include Fibonacci GANN and Gartley. It also supports standard tools like Moving Averages, Relative Strength Index, and Average True Range.

Interface and console

The Motivewave interface is user-friendly thus easy to navigate and access all the tools needed for market analysis. The interface makes it easy to organize all the charts, watchlists, and modules in the window. Its console is also curated, thus making it easy to add other third-party analysis components and move them around.

Image showing Motivewave interface

The collection of charts available and the ability to move, adjust, and drill them down to one’s needs is excellent. You can view any type of chart based on time, momentum range, column, and range-based charts on the interface. In addition, it is possible to turn to the preferred minute, hourly, or even second charts.

The software also has strategy testing capabilities and optimization. Consequently, experienced traders can backtest, engage in walk forward testing in addition to access over 30 in-built strategies.

Trading with Motivewave

Motivewave edge stems from the fact that it is not only ideal for analysis, but one can also trade from it. The integration of a range of brokers means users can buy and sell various securities offered. In addition, one can leverage various strategies and market orders to try and squeeze a profit.

Unlike most platforms that allow users to only perform technical analysis and require a separate account, Motivewave has enabled trading support. In this case, you can place market orders with supported brokers right from the console.

With this software, you can connect as many brokers as possible simultaneously and manage all accounts, orders, and positions. Another important aspect of the software is managing and adjusting market orders from any chart.

Pricing

Currently, there are six versions of the Motivewave platform with different and unique features. Anyone looking for broker integration and trading capability would need to sign up for the Professional or the ultimate version.

Pricing of the software ranges from $99 to $1595 for the ultimate version. It is important to note that all licenses are for the lifetime. Payments are made on an annual basis. However, it is also possible to subscribe monthly.

Understanding NinjaTrader

NinjaTrader is arguably one of the best and powerful trading software for anyone looking to trade various securities using derivatives. It is designed to work perfectly with futures, forex, and options. While a free version of the software exists, anyone serious and looking to conduct in-depth market analysis should opt for the paid version.

While it comes with its own brokerage services, it is also open to third parties. What this means is that people can use the platform to trade various securities with other brokers.

The trading interface

NinjaTrader offers an advanced platform that is user-friendly and easy to navigate. It is perfect for anyone getting started in the business of trading. However, it is advisable to engage in a demo version to learn the workaround.

Introducing NinjaTrader

NinjaTrader scores highly in charting capabilities as it offers clear and powerful market visualization. It also offers multiple chart frames and indicators. It comes with over 100 pre-built customized indicators and hundreds of optional third-party indicators

If you are looking to try out the software, you can register for a 2-week trial with all the core futures needed for live trading. However, if you wish to access advanced capabilities, you can lease the software starting on a quarterly basis or purchase a lifetime license.

The advanced platform supports sophisticated order types known as automated trade management. In addition, it offers support to the third-party developer community, making it possible to add 3rd party apps and add-ons to enhance the trading experience.

NinjaTrader platform offers a high-performance backtesting engine. In this case, a user can test and verify strategies on historical data before engaging in live trading.

Its Advanced Trade Management is one of the selling points as it allows traders to pre-define personal trade management strategies. A user can set numerous profit targets and stop-loss orders.

Commissions and fees

The software charges some of the lowest commissions and fees. While a $1,000 minimum deposit is required to trade futures, one can trade and be charged as lows as $0.09 per micro contract with a lifetime license. One needs a minimum deposit of $50 to trade Forex with the software.

FeaturesMotivewaveNinjaTrader
Platform SupportedWindowsMacLinuxWindowsMac
SupportBusiness HoursOnlineOnline
CategoriesAlgorithmic tradingChartingAlgorithmic tradingChartingCrypto
Mobile appAvailableNot Available
Auto tradingYesYes
Social TradingNoNo

Final thoughts

Motivewave stands out by the powerful charting capabilities, a plethora of upgrades, and the ability to add on third-party tools for an enhanced experience. While it comes with all the necessary tools for technical analysis, it can be quite expensive for anyone getting started and yet to master the art of trading.

NinjaTrader, on the other hand, is powerful software suited for experienced traders. While it might take quite some time to master its workings, it is worth the wait given the assortment of tools, educational resources, and high level of customization on offer. In addition, its commission and fees are some of the lowest in the industry.

forex ea chart
Would you like to try out trading with an Expert Advisor?
Check Out Best Forex EAs Here
Previous Post

The IG Client Sentiment Index In Forex

Next Post

How to Trade Market Sentiment

Next Post
How to Trade Market Sentiment

How to Trade Market Sentiment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

+ 20 = 30

Automated Trading Systems

TechBerry 90%
Trade Explorer 82%
Forex Gump 80%
FXGoodway 75%
Dragon Expert FX 65%

Recent Posts

  • Man charged in New York with 3-week kidnapping to try to steal Bitcoin
  • Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026
  • Second suspect in New York bitcoin kidnapping surrenders to police
  • Apple to debut dedicated gaming app within days of Nintendo Switch 2’s arrival
  • Satoshi Nakamoto, BlackRock, and TechBerry — a new investigation by Newsweek
  • About Us
  • Contact Us
  • Privacy Policy
  • Risk Disclosure
Best Forex Tools

© 2023, Myfxtools

No Result
View All Result
  • Expert Advisors
    • Reviews
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading

© 2023, Myfxtools