[Soultrader]

From my understanding Ninja Trader allows automated exit strategies? Does anyone have any experience with them and what are your thoughts on it? Thanks

[TinGull]

And thinkorswim is going to be implementing that soon, as well. I think it sounds awesome!

[torero]

Originally Posted by Soultrader »

From my understanding Ninja Trader allows automated exit strategies? Does anyone have any experience with them and what are your thoughts on it? Thanks

Hi James, when you say automated, you mean coded or bracketed order strategies? I know you use TS codes and strategies on Ninja. So I assume, yes, it's true. I think they use their own proprietary code you can implement yourself. This is part of their platform for a while now.

[testaclese]

I have been using ninja for about two months in a demo account and just this last week went live trading the russell. You would be amazed how you can set your stops. So far the fills have been excellent and the stops move faster than a speeding bullet. They are just the trading platform that sends the order to my broker. Very simple to learn. My biggest problem so far has been to be patient with my strategy and let it do its job. I read in another forum this evening that that seems to be a problem for lot of traders...letting your plan work.

This futures trading is quite interesting. Hope I can make it work. I appreciate all the info I have found on this forum. It just takes this old cowman a while to get his head around some of it.

Mike

[torero]

testa, patience is the biggest and hardest hurdle to learn as you will see down the road. It was for me and still is a problem for me from time to time. Letting it play itself out is the right mentality. When you're impatient, 2 things happen

1) You change your stops too quickly toward breakeven or to the price action, eager to lock in profits. This results in you getting stopped with a meager profit, but then you end up watching the move that could have been more if you left your stop alone.
2) You waited too long for a setup to appear for an hour, 2 hours, and you're finally bored to death and have to come up with an excuse to trade. This is where you'll bleed slowly (or maybe largely if you have no money management skills to keep it under control) with low probability trades.

"Let profits run" will be the hardest thing to do, no matter how experienced and profitable you are in the market.

[Soultrader]

I agree Torero, I also have the problem of locking in profits too soon. Futures can be pretty volatile which is why I tend to ring the register because I constantly assume a reversal.

[Reaver]

Soul,

I've demo'd around with NT and it's really sharp. You can set up all kinds of strategies and conditional orders. The support is very quick in my experience too. NT staff is very willing to answer any questions I've had. Hope that helped. By the way, the trader metrics analysis they have is really cool too.

[Soultrader]

Thanks Reaver,

I may eventually switch to Ninja. Im starting to become more systematic about my exit points and Ninja can definitely help with this.