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Chicago, USA
Experience: Intermediate
Platform: Ninja. trying Sierra...
Broker: Ninja, Stage 5 for Sierra
Trading: Futures: ES, CL, GC
Posts: 40 since Nov 2021
Thanks Given: 9
Thanks Received: 44
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NinjaTrader now has built-in Risk Management Settings!
These settings only recently appeared in March 2023, but I just became aware today. It seems that for years many people have been asking for Risk Management for NT8. It is rather hidden though, so I imagine most NT users are unaware of it like I was, hence this share.
The Risk Management Settings are not located in the desktop platform. They are activated on the broker side – NinjaTrader Brokerage. They are located in the Account Dashboard which we login to via the web at: https://account.ninjatrader.com:443/You login with your account info, click on the blue-colored circle in the upper-right corner, which brings a dropdown menu. In the dropdown menu, click on Settings. Once in Settings, under your account number, click on Risk Settings. There are 6 options, plus a lockdown.
Daily Loss Limit
Weekly Loss Limit
Daily Profit Trigger
Weekly Profit Trigger
Lock risk settings if trading locked
End-of-Day Trailing Max Drawdown
Real-Time Trailing Max Drawdown
Apparently, when risk settings are hit, open positions are liquidated. You can read more here:
https://support.ninjatrader.com/s/article/How-Do-I-Set-a-Daily-Loss-Limit-on-my-Account?language=en_UShttps://support.ninjatrader.com/s/article/How-Do-I-Set-a-Trailing-Max-Drawdown-on-My-Account?language=en_US
Personally, I need Risk Management. I am trying the Real-Time Trailing Max Drawdown risk setting.
The only way I found out about these new Risk Management Settings is I was searching the web for risk management for NT, and then emailed NinjaTrader asking if they had anything. I was pleasantly surprised at their reply that NT does have Risk Management because I found nothing on the web. It is very new, just became available in March 2023.
Hope this benefits everyone, especially me!
(I have a lifetime license from NinjaTrader since October 2020. I am still running NT 8.0. Not planning on changing to 8.1 anytime soon. I am also getting familiar with Sierra Charts, have a Stage5/Advantage account setup, but not yet trading with SC, not comfortable yet.)
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