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Hi guys I have a very important question to ask. I been working on a Ninjatrader trading system that trades the FOREX EUR/USD. the trading system that i have developed seems to show profit. However, an average it takes 15 trades a day and total 400 trades a month. I have never trading Forex in my life, so I don't know if with commission's this system will work. Right now I am using interactive brokers they have a flat fee of $2.5 plus something called spread fee(lets say 2pips). so can anyone explain to me how much money do I need to put up so that even with commission and spread the system is profitable(if even possible).
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NinjaTrader stats
(in strategy wizard I put Long with 1 Quantity and also 1 quantity for short)
Avg winning trade is $ 80
Avg loosing trade is $140
Can you help answer these questions from other members on NexusFi?
Under the Edit-Options menu (if I remember right) you can input commissions. Enter it there. Make sure you know the round-turn price vs the per-side price, and enter the right figure.
For slippage, during the backtest there is a spot on the options for slippage. Enter 2 ticks per side.
I would say that in general, anyone can make a robust looking strategy seem profitable by not counting slippage or commission. Said strategy will almost certainly lose money once you factor in reality, including a proper length backtest and proper length forward test.
Once in Misc you need to expand the + symbol for each type of feed you want to load commission values for eg Market Replay, SIM and your Live feed (eg ZenFire) can all be configured with different commission rates.
Once the + symbol has been expanded for each feed type enter a $ and cents figure (eg 2.57) under 'Minimum Commission'. This the fee per SIDE, not round trip.
I can't comment on entering slippage as I don't trade currencies.
Make sure you select the Currencies version of the instrument and not the Futures version.
You can also set-up default commission rates that will apply to EVERY instrument unless once has been loaded specifically for that instrument as above. To do this go Tools>Options>Commission.
Hey Mike you are right once i included slippage(1Tick) the trading system went from making money to loosing money . So is it possible not to have slippage on EUR/USD. This is more of a HFT system. I am sure hedge funds with HFT systems have figured a way out right??????
There are advanced techniques you can use to have resting orders in the market for long periods of time, so you are first in queue, using a limit order, resulting in no slippage. But you have to have an advanced script capable of maintaining dozens or hundreds of entry points and cancelling undesired fills before market moves to them, and you need to run next to CME matching engines for reduced latency.
Basically, you are well out of your league and my general recommendation is for you to stop trying to make money with automation, and instead learn how to be a profitable discretionary trader.
I have tried as discretionary trader, and my emotions always take the best of me. I really/ truly believe that this trading system that I have developed works. Please please if you know anyone or any company that is able to eliminate or reduce slippage, please help me out. I feel so close, I am not going to let some stupid slippage get in my way. I already eliminated the commission issue, the only thing holding me back is raw market data and slippage. please if you, or someone you know,.. knows where I need to go from here or who i need to talk too. Your help is much appreciated.
