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Fully agree with what you're saying here Traderji.
I want to add to this that I never fully understood why trading software vendors are so apprehensive of adding new brokers if the users demand this. Yes, this might mean that untrustworthy brokers might be added to NinjaTrader, but is NinjaTrader capable of recognizing future PFG Best or MF Global-like brokerages? I thought they were programmers and not accountants.
Adding more brokers gives the users more freedom of choice, and might actually stimulate more users to use the broker which is, in their personal view, the best broker given their needs. With less broker connections available, we have to settle earlier since our broker of choice might not be available.
And more available brokers also heightens the value of the NinjaTrader product since there are traders, like me, who don't want to switch to other trading software if this means they have to switch trading accounts to a less reliable (financially and technology speaking) broker.
Once upon a time a little bird told me that NT will never admit it, but they get a cut on your turns.
This would explain a lot, including my eye rolling when there was also a claim that they are doing "more for less" because lifetime licenses are not going up despite inflation. Pleez.
To NT's credit, actually I think they should limit who can connect to them (and who should be able to claim they wrote solid connecting code) as there may be charlatans out there. Due diligence is required.
That said, their customers use their their software on the bleeding edge of capitalism, so I think they should be a little less opaque. We ain't idiots after all.
Hi Ray, thanks for taking the time to do these webinars, they are really great and certainly I cannot wait for the NT8 release. A couple of comments: I really liked the sound of the new 8 strategy wizard which you mentioned may be a dot release after 8, also I would be interested in paying for the stock replay you mentioned. Personally I wouldn't be interested in paying for single days unless they had some unique characteristics for that day or were black swan type events. Being able to subscribe or pay for a block (I.e. per month or date range) would be a more attractive option in my opinion.
That is such a weak argument. Ninjatrader already has plenty of areas which are "unsupported". Have a look at their forums, tons of threads have NT support replying with "Yes you can do that with Ninjatrader but we don't support it. If you can make it work, good for you but leave us out of it".
They can easily apply the same policy to user-coded broker connections. Every time a user connects to such broker, make a popup appear which requires the user to acknowledge this connection type is unsupported and remove all liability for NT Corp.
Bought it when Interactive Brokers was my broker. Nine months later moved to other brokers with better pricing, data feeds, features & markets than IB however Ninjatrader does not support any of those so my $1500 purchase was rendered useless.
In the approx four years I have owned an NT license they have added only one new broker for forex, so not really holding any hope that I might actually get my money's worth again.
Happy with Multicharts for now with a much bigger and constantly expanding list of supported brokers.
OK, well now we know your story and thanks for sharing.
- You purchased NinjaTrader knowing the list of brokers available at that time
- You later switched to a different broker that was not supported by NinjaTrader
- You are not happy that they don't support the broker
Your point has been made. Move on so as not to derail this thread further.
In regards to "more brokers support" I think (guess) the issue is that NinjaTrader is committed to a very good user experience and this requires developer resources from them and the broker. If there is not a truly committed development relationship between both companies then the user experience and reliability of the software can suffer.
FXCM is an example. Both companies committed to developing and supporting the broker connection, but last I checked, the historical data (at least with a demo) has a really bad performance issue. FXCM has admitted to me the slow historical data downloading problem is on their side, but when they will get around to fixing it who knows. A rep said he would contact me when its resolved, but its been a couple months now.
Brokers set an order of development support priorities to software which is most widely used by their customers. If NT is low on the list then their development relationship with NT is also probably low on the list thus creating a bad situation for NinjaTrader and their customers.