TradeStation versus NinjaTrader

[Nortorious]

Hi All,

I'm hoping some of the experienced campaigners can provide some input into the best trading platform.

I am only looking at two vendors, TradeStation and NinjaTrader as I will be purchasing a couple of plugins that will assist with market analysis (based on my preferred method) and they are compatible with these platforms.

At this stage I am looking at software that would be suitable for trading and charting the ASX with the ability to expand into Futures and Forex when I am ready to move into those markets (once my strategies are tested in the slower ASX market).

Ideally, the software will allow for scanning of weak and strong stocks based on relative strength to assist in shortlisting stocks for watching.

I am currently using the Tradeguider software for EOD analysis of the ASX with my data coming from PremiumData.

So, what software do you use and who do you use for your data feed? Pros and Cons thanks.

Nortorious

 

[CanOz]

Hi Notorious,

Tradestation must be used with them as the primary broker.

I really think for your situation Amibroker would be the best option, but you could try NT for free and see what you think.

I use:
Amibroker and Premium Data

Ninjatrader and CQG with IB as a backup.

Cheers,


CanOz

 

[Trembling Hand]

Nortorious I think NT is not really suited to scanning the ASX. Very clunky for that kinda of use.

A few other things,

I'd be surprised if you could transplant a successful system on the ASX into another market.

And

(once my strategies are tested in the slower ASX market).

Stocks actually move more and much faster than FX and futs. Its the large contract sizes of FX and futs coupled with the leverage that is the diff.

 

[Nortorious]

Thanks CanOz and Trembling Hand.

T/H, I probably should have used the word "strategy" instead of "system". My strategy is based on the forces of supply and demand and identifying when there are imbalances (interpreted by the background, price bar action and volume) that will likely result in a move of the price in one direction.

Basically I would be executing trades where I identify a trading edge where the probabilities are in my favour but being aware that anything can happen on any individual trade so having risk management processes in place if things don't turn out how I expect.

I'm looking at the Futures and Forex as a way to provide another vehicle for applying myself and something that can be done at PM/AM hours as I am currently working full time.

My ambition is to move to full time trading when I have the ability to do so.

 

[Nortorious]

T/H, would you consider using CFDs (to gain leverage on ASX) an alternative to moving into Futures and Forex?

Obviously with greater leverage comes greater risk and reward...

 

[rx2]

Hi Notorious,

Tradestation must be used with them as the primary broker.

CanOz

Tradestation does allow you to subscribe to just their software for $249 pm and you can trade through any broker - or alternatively you can choose to use them as a primary broker and depending on your brokerage over a month you may get the software for free.