With its headquarters in the United States, NinjaTrader is a software manufacturer that has over time developed a powerful trading platform that includes comprehensive trading and research tools.
Ninja trader’s trading platform focuses on futures, FX, and options trading. The platform also offers an assortment of specialized trading tools. Backtesting, simulated trading, and sophisticated charting are all included in the NinjaTrader program, which is free to use. You may also use it to create your own trading applications and indicators.
In addition to NinjaTrader’s own brokerage services, customers may choose from a variety of other brokerages. In order to open an account, you must have a certain amount of money in your account.
NinjaTrader 7 and NinjaTrader 8 are two of the most recent releases from NinjaTrader.
NinjaTrader 7 (NT7)
Despite the fact that NinjaTrader 8 has replaced it, NinjaTrader 7 is still a popular choice for many traders. Among the most significant changes made to Ninja trader 7 are the following:
- Multi-series indicators were introduced, and the support for multi-color charts was improved.
- Additionally, “Ask,” and “Bid” charts were made available with NT7.
- It supported fast-changing charts for FX and stock indices. Multi-core capability for optimizing trading strategy and basket backtesting was also included in NT 7’s release.
- It improved the performance of backtesting.
NinjaTrader 8
It was in 2016 that NinjaTrader 8 was finally released in its entirety. It includes 500 new functions and improvements on the NinjaTrader 7. Compared to NT7, version 8 of the platform has a lot of new features and a more modern appearance.
Active traders, including those who trade stocks, futures, and FX, as well as those who prefer one-click transactions or automated exchanges, are the target audience for NinjaTrader 8. However, the system is not a closed system, and specific pieces like indications and tactics can be developed.
Integration with third-party technologies is also possible. Users may therefore construct their own layout, indicators, partial automation, and charting tools using the program.
You can trade manually or build an automated system using NinjaTrader 8’s wide variety of advanced features. Upgrading from NinjaTrader 7 to NinjaTrader 8 is completely free of any charges.
Features
NinjaTrader 8 is a great complement to an online broker’s trading capabilities. All of this includes extensive charting features and market analysis, as well as the building of automated trading methods and backtesting.
Charts
Investors interested in testing NinjaTrader 8 can do so for free, even placing simulated orders in real-time. Only those traders who wish to trade with real money on a live account must purchase a license or make use of the paid leasing model.
To create trading strategies, you can use NinjaTrader to replicate real market conditions. NinjaTrader 8 includes a comprehensive trading log that includes all of the most significant metrics. As a result, keeping a trade log is now even more straightforward.
Trading strategies
It doesn’t matter if you’re a day trader, a swing trader, or a scalper. NinjaTrader 8 has a trading strategy for you.
With more than 1,000 applications and add-ons to choose from, the platform can be customized to suit your needs. The free version, in particular, aids newbies as they start to trade. Paper trading allows traders to build and test their own trading methods.
Points of deviation between NT7 and NT8
Scripts: Professional day traders typically like to have access to a large number of scripts at their disposal. Programmers have been migrating over NinjaTrader 7 scripts to the new NinjaTrader 8 edition. A trading app development platform is available to NinjaTrader 8 customers, allowing developers to create apps that are only restricted by their ingenuity.
Learning curve: In particular, the NinjaTrader 7 edition presented significant learning challenges. NinjaTrader 8 has addressed some of these issues. They also provide a variety of online video courses, manuals, and websites to aid you, as well as free daily webinars presented by their staff to help you out.
You’ll benefit from the learning curve you’ll experience with NT7 when you transition to NT8. That is, the great bulk of your NT7 expertise will not have to be discarded for NT8. Generally speaking, it appears that a considerable portion of NT7 expertise may be used for NT8.
Response time: While tick data is only detailed down to a second on NinjaTrader 7, NinjaTrader 8 goes down to a “tick,” which is basically an update within a millisecond of data changes. We observe the change because tick data is what is used to generate seconds bars.
In summary
The NinjaTrader 8 edition has a wide range of sophisticated capabilities for both traders who choose to trade manually and those who prefer to construct automated systems. Traders of all trading levels can benefit from it.
In comparison, the learning curve for NinjaTrader 7 is steeper if you’re a novice. Nonetheless, in both cases, a learning curve is inevitable, regardless of how user-friendly and simple the program is. This includes video lessons, online readings, and instructions of all kinds.
