Ninjatrader is another popular trading software package that caters to the clients of over 100 brokers worldwide. It’s designed to be a complete trading solution that allows the trading of futures, equities and forex markets.
It ticks all of the major boxes that traders require from their software like good execution, efficient trade management and stable software that isn’t too CPU intensive.
It’s main strength and what it’s particularly well known for is it’s in-depth auto-trade management system. Strategies can be coded in for both trade selection and management once the trade is live and it executes this coding very well. A lot of people turn their noses up at automated trading and to a certain extent I can understand why but using trade management like this is an excellent facility to have because it can help you with the psychological aspect of trading that’s most peoples downfall.
The user experience with Ninja trader is good and the interface is nicely streamlined meaning you can get used to the functions quicker than some of the other programs out there. The charts themselves are also very clear to see and analyse.
Ninja trader supports most of the major feeds but it’s somewhat lacking in that area compared to other software providers out there so if you do give it a go make sure your feed is covered.
Another negative is that they don’t currently offer mobile trading services or even SMS alerts. This is a little surprising because that’s becoming the norm nowadays but they do at least offer e-mail alerts.
It would also be nice if they offered live chat support or a phone line like some others do but unfortunately they only offer e-mail support. That being said they respond quickly in my experience and have also dealt with issues out of hours when required.
Overall Ninja trader offers another viable software option for aspiring traders. They’re reasonably priced compared to most and you get a very solid package that’s got some fantastic tools, just be aware of some of the negatives I’ve mentioned above if you’re considering trying it out.