Algorithmic trading systems selection for NinjaTrader

Trader Question:

Please help me understand Algorithmic trading systems selection for NinjaTrader, how do i choose the right robot there is so many to choose from the MTDS, MTNTF, MTU7. PLEASE ADVISE!

MT Answer:

Free users are welcome to experiment  free forever unlimited on sim/demo trading and use the free online resources of of the 24/7 Help Desk: https://microtrends.zendesk.com/hc/en-us and the MicroTrends Help Desk Forum of previously answered questions and articles:  https://microtrends.zendesk.com/hc/en-us/community/topics

Paid for users on the Gold Plan get  in depth support and assistance/ tempaltes basic advice get started advice and documentation structure delivered by drop box/ and data on the Platinum Plan we setup a server and a set of models/templates and mentor on how to approach/ backtest/ collate stats and  work on pre-production and sim/live trading models and and manage that process but it is always the trader who makes the decisions – we simply accelerate the learning curve and facilitate it all.

What is the Right Algorithmic Trading System Robot for me?

Over time – The right robot is one you have selected based on your direct experience and understanding:
You would have backtested, out of sample tested, traded in pre-production and selected for your style/ availability & capital
And you will have tracked all your systems/tests and collated all the data at all stages with notes so you understand what you tested in the past and why you arrived to the present – you will know which robot works when and why and you can match it to the current market phases and decide if its tenable to use etc
you will correlate it to market ranges/ volume/ trends and price cycles so you will know why and when to use it and when not to and you can have several – for example a breakout or a trend model and or mean reversions

The Tools are here for that: Automated trading
https://s3.amazonaws.com/microtrends/docs/MicroTrends+NinjaTrader+Approaches+and+Tools+for+Automated+Trading+success.pdf

you will want data too: tickdata
https://www.tickdata.com/product/historical-futures-data/

Getting Started:
we suggest starting with a simple robot – such as the MTDS SDK USAR – and understanding all the basic parameters – then moving to a MTu7 if required – MTU7 is a combination of MTDS7 + MTNTF7 signals indicators

GET STARTED with MTDS7
https://microtrends.zendesk.com/hc/en-us/articles/217164386-MTDS7-New-User-Orientation

MTDS7 USAR Trader Modes:
https://s3.amazonaws.com/microtrends/docs/MTDS7+SDK+USAR+Trader+Modes.pdf
There is a section for templates, tools and bars downloads – They are called just Uni Renko or Super Renko

MTu7 – Structured learning approach – after MTDS7 mastery
https://microtrends.zendesk.com/hc/en-us/articles/115001234303-Structured-Learning-approach-for-MTu7-Strategies

Resources & TIPS
https://microtrends.zendesk.com/hc/en-us/articles/115002165203-Installing-and-getting-started-with-MicroTrends-NinjaTrader-7-Strategies-Automated-Trading-Systems
https://microtrends.zendesk.com/entries/65133859-Prepare-NinjaTrader-7-for-AutoTrading
https://microtrends.zendesk.com/hc/en-us/articles/115000299263-NinjaTrader-7-Hangs-after-clicking-the-Strategies-Menu-to-display-strategy-list

Suggested Reading

New Market Wizards
Way of the Turtle –
Mechanical trading systems – Earik Beann
Mechanical Trading Systems – Pairing Trader Psychology with Technical Analysis – RICHARD L. WEISSMAN

Now you need to understand this also
http://www.vantharp.com/tharp-concepts/expectancy.asp
http://www.learningmarkets.com/determining-expectancy-in-your-trading/

automated trading systems free strategy like an atm machine

Trader Question:

“What do you have that could be a trend trader that takes quick 4-6 tick profits on a many trade basis. Kinda like trading the trend but enter every green bar for a 4-6 tick profit and every red bar for 4-6 ticks profits. and do this consistently all day long day in and out. Not asking for alot. Let’s think about how we can make a strategy that is very consistent and makes 4-6 tick all the time kinda like an atm machine…”

MicroTrends Answer
The only thing in trading that makes money the whole time is the exchange and the broker. Some market making firms make money every day, some reputedly since inception of HTF market making algos – you only need about 100Milllion to trade and a pay roll 25% of that to start with for some of the best minds in the industry.

In reality – We are restricted to slow systems in comparison to the Pro inside track of market makers and high frequency trading, and we will never ever ever make money the whole time like an ATM machine – to even want that is to be a failure – trading systems at best they will have moments of profit and moments of drawdown. This is why we must employ risk management and money management and backtest and understand the drawdown and capital requirements of a systems natural profile- without curve fitting – to give us the win % ratio and average loser/winner to provide the expectancy of the system -and the old cliches are 100% true and timeless the trend is your friend until the end. You ascertain if the system is within your style of trading and risk capital – then perform further testing. out of sample, realtime paper trading etc.

So yes you are asking for a lot you are asking for the absolute impossible – – it doesn’t exist this side of the fence. Trading certainly doesn’t work that way as the markets don’t work that way – slippage/ Liquidity/ latency, trendless periods etc on top.

The world of NinjaTrader is at best a slick glider or cessna if you are lucky when you use a professional developer for your NinjaTrader trading systems development, compared to a ground to air missile used by the real players who use direct market access and don’t use a retail platform or aggregated datafeed, and you are into Formula 1 budgets and skills – you cannot hope to trade like that without the correct budget and equipment or team. Take for example Datafeeds used by retail platforms are 100 times+ slower that a pro data feed direct from the exchange, order routing proximity hosting to machine pricing engines are 100KS per annum for 1 metre closer on a wire, networks cards are £50K upwards… the data we see, the time sales we is ancient history to the inside track players – they are operating in the now – we are operating in the shadow of the past – so our systems need to based on what is tenable and not what fear and greed makes us dream up and fantasies- i just want to trade every each tick 1 delusional trader told me once and they blew $600K USD in 1 year chasing that futile blind deaf to advice steered by greed and fear – greed i want every signal, fear i want a small target i cant stand losing.

If you believe as retail trader you can have an ATM machine and go play golf and talk down the pub about your life and setup and its all easy and you go do this on your shoe string budget and total lack of skill and knowledge then you are a delusional dreamer seduced by the BS on the internet and unscrupulous brokers and vendors – you are a sucker, a pigeon waiting to be butchered, you will go in circles forever bleeding out your account time and time again – looking for the holy grail when in fact you need a mindset change and few home truths told to you – however you are rarely going to get that as the mindset out there is to take as much money from you as possible and suck your blood.

The best you can expect to do with a system is already fantastic why change it ? the answer is you need to change:
You can attempt to enter the market when you have identified trending cyclical moments and get that more right than wrong – then that style may be tenable for short periods – so how to trade them and how to stop trading once they go so you don’t give it back… the easiest way is to trend trade and let it run – with timing/ and other elements, less is more – 3 to 5 trades per day – limit your risk per trade and daily/weekly risk.

If you think you can do 100 trades per day you I can 99.99999999..% guarantee you will never make it.

Less is more… so try to enter with high probability with the directional bias and take some off the table early and run the rest for example or trail in etc… and let it run etc..
That is the easiest way to do things in order to get your first working system – trying to get a scalping system Goldman Sachs would pay 10Mil+ for is not going to work here…

So that’s my advice a change of thinking will do you good as I can bet money you will not succeed trying to scalp all day.

So we can look at the entry system and create some kind of filtering condition. You cannot always force a system to work in your budget, you have to get a viable system and understand what it takes to use it… and either it’s too expensive or you got some kind of chance…

So for the reasons above we offer our trading systems for free unlimited for trial/testing research. We dont take advantage of traders financial aspirations, we are straight talking no BS, show it as it is. You can experiment with all our free NinjaTrader strategies forever for sim/demo/backtest purposes – believe your stats – do it correctly don’t go in circles bleeding jumping from 1 system to another as each one goes in and out of winning and losing runs.

Get started with Day Trading Generic Signals Workspaces for NinjaTrader

  1. Install the latest version of the MTNTF7 installer – this contains the workpaces.
  2. Select the correct installation options to install the workspaces
  3. Start NinjaTrader and connect to datafeed and open then workspace
  4. Change chart dataseries to super renko and save as a workspace name of you choice
  5. Show chart trader to practice trade the signals – keep stats, conduct a backtest
  6. You can add or remove the signals indicators as you wish – for more details on signals indicators please visit the MicroTrends help desk knowledge base/Articles for Signals Indicators

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Getting started with MicroTrends NinjaTrader 7 automated trading systems 100% free for demo sim trading

MTNTF7 Strategies are deprecated and due for complete removal.

For the automated trading we have the MTu7 free for demo & Sim Testing
http://microtrends.co/ninjatrader-downloads#MTU7
This is a combination of the MTNTF7 signals indicators + MTDS7 Strategy Trade Engine –

GET STARTED with MTDS7
In fact i would start with this package MTDS7 – http://microtrends.co/ninjatrader-downloads#MTDS
https://microtrends.zendesk.com/hc/en-us/articles/217164386-MTDS7-New-User-Orientation
look at the SDK Samples – MTDS SDK USAR – many templates and bar types for you to experiment with etc..

MTDS7 USAR Trader Modes:
https://s3.amazonaws.com/microtrends/docs/MTDS7+SDK+USAR+Trader+Modes.pdf
There is a section for templates, tools and bars downloads – They are called just Uni Renko or Super Renko
Please install these free NT7 Bars
https://microtrends.co/ninjatrader-downloads#NTCB
Always make sure you set a strategy parameters Historical Fill processsing to ” MTDS On Close”

MTU7
When you are comfortable with MTDS7 you can conside the MTu7 Strategies
Structured Learning Approach for Strategies MTu7
https://microtrends.zendesk.com/hc/en-us/articles/115001234303

Resources & TIPS
https://microtrends.zendesk.com/entries/65133859-Prepare-NinjaTrader-7-for-AutoTrading
https://microtrends.zendesk.com/hc/en-us/articles/115000299263-NinjaTrader-7-Hangs-after-clicking-the-Strategies-Menu-to-display-strategy-list

Automated trading
https://s3.amazonaws.com/microtrends/docs/MicroTrends+NinjaTrader+Approaches+and+Tools+for+Automated+Trading+success.pdf

Suggested Reading

New Market Wizards
Way of the Turtle –
Mechanical trading systems – Earik Beann
Mechanical Trading Systems – Pairing Trader Psychology with Technical Analysis – RICHARD L. WEISSMAN

Now you need to understand this also
http://www.vantharp.com/tharp-concepts/expectancy.asp
http://www.learningmarkets.com/determining-expectancy-in-your-trading/

John offers a course on day trading – a discretionary systematic manual entry system + automatic trade management & exits etc
http://microtrends.co/day-trading-emini-coach/

Please let us know if this resolves your support request or if you have further questions on this matter or if we can close this ticket. For a new question or support request please send in a new support request to support@microtrends.co or visit our help page here: http://microtrends.co/support-help-center

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See below for full Guidance details of installing and configuring/using NinjaTrader

  1. Download & Install the NinjaTrader FREE Trade Platform
  2. Get a Datafeed or trading acocunt with a datafeed included
  3. Configure NT with the Datafeed/Account Connection
  4. Download free ninjatrader custom bars, free trial indicators & Import to NinjaTrader
  5. Restart NinjaTrader
  6. Connect to the datafeed
  7. Open a chart with the custom bars or your choice of bars
  8. Add the indicator/s to the chart, learn how to work with charts, indicators & workspaces
  9. Show chart trader and configure for trading sim/realtime ready for trading, get setup for manual order entry with a basic automatic trade manager – or use an advanced trade management system for free on demo/pay for live trading such as the MTDS7 NinjaBuddy Trade Manager for automatic trade management
  10. Practice realtime/sim trading using indicator signals & create your system rules, log your stats in excel or a trade journal and perfect your trading skills to become a winning trading.

NinjaTrader Trade Platform – Guidance

NinjaTrader 7 Help Guides

  1. http://ninjatrader.com/support/helpGuides/nt7/
  2. Install: http://ninjatrader.com/support/helpGuides/nt7/installation.htm
  3. Connect to data: http://ninjatrader.com/support/helpGuides/nt7/connecting.htm
  4. Create a Chart: http://ninjatrader.com/support/helpGuides/nt7/creating_a_chart.htm
  5. Working with indicators: http://ninjatrader.com/support/helpGuides/nt7/working_with_indicators.htm

NinjaTrader 8 Help Guides

  1. http://ninjatrader.com/support/helpGuides/nt8/en-us/
  2. Install: http://ninjatrader.com/support/helpGuides/nt8/en-us/installation.htm
  3. Connect to data: http://ninjatrader.com/support/helpGuides/nt8/en-us/connecting.htm
  4. Create a Chart: http://ninjatrader.com/support/helpGuides/nt8/en-us/creating_a_chart.htm
  5. Working with indicators: http://ninjatrader.com/support/helpGuides/nt8/en-us/working_with_indicators.htm