I have been using Ninjatrader for several months now. Initially I used it for automatic trading but my strategy did not perform well. Then I used it for my discretion trading. NT’s Chart Trader did a lot good changes for my trading habits.
Before Ninjatrader, I watch the chart, then enter the trade on TWS. After the order filled, I place one exit order for my profit target. I monintor the trade by watching chart for possible exit/stop, also checking TWS for unrealized P/L. Most time I exit the trade based on the P/L numbers.
Now with Ninjatrader, I place the trade on the chart directly. Whenever the order filled, one stop loss order and one profit target order are automatically placed on TWS immediately. To manage the trade, I just watch the chart and move the two lines(presenting stop loss order and profit target order) accordingly.
The new trading method helps me on two major parts. 1) There is always a stop loss order in place. This is a big improvement for my trading habit. Before using NinjaTrader, I did not place stop loss order when one trade was entered. When price went against me, I usually averaged down in the stop loss price level instead of getting out of the trade. Now with Ninjatrader, the stop loss order is there without I lift a finger. Actually to cancel the stop-loss order need additional effort from my part so it’s more easier for me to do nothing than do something stupid like cancelling the stop order.
2) It let me focus on the chart, not p/l numbers. Previously when I manage trades on TWS, my decision for exit was always affected by the unrealized p/l numbers. Now I watch the support/resistence level on the chart and read the price tape to guide my exit.
With NinjaTrader, I have more control over my trades than I had months ago.
Posted by ZBS
Posted by ZBS
Posted by ZBS 




