Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
So, is there some automatic notice or behavior that would inform a user to make such a change? "Hey, I noticed you are using Interactive Brokers and trading CL, you need to change from CL to CL||||1" ? Otherwise, I would say 99.9% of people won't make the change.
For CL the default symbol mapping is now CL||||1, so you do not need to make the change.
But for other instruments such as BC and SB, the default settings are not yet correct. But the NT guys just need to enter them, so that should not be any problem.
The answer is yes to both questions.
I'm demoing Sierra and at first glance it is impressive.
Full-featured with an extremely low footprint and smoothness, comparing to ninja.
Very easy to use and intuitive.
My first impression was: "this is what multichart should be" :-)
I believe it is written in plain c++ and it is well designed.
The interface look a little "old" but I think it can be customized.
The reasons fot not using it as far as I know now:
you can't trade trough zen-fire
no VMA (variable moving average) by default, and other useful indicators available for ninja
The second is not a problem, as I could program it (right?)
What about the first? Is TransAct as fast and reliable as zen-fire?
Ray gives the answer that he needs to transmit the information on executed trades because of the license fees that NinjaTrader has to pay to Trading Technologies. This is credible. The negative point is that the information of your trades is collected in real-time, and that it is not encrypted and can be therfore easily tracked.
But, again, who wants to track that stuff. Nobody is really interested in spying out trades of poor retail traders. The spy would rather be interested in knowing what Goldman Sachs or some of the larger hedge funds are doing. Also I doubt that the system is used to frontrun your trades.
Information is always a sensitive issue. But I do not think that the business model of NinjaTrader has anything to do with spying. They sort of violated a patent of Trading Technologies, and the settlement of the issue requires them to pay a fee per trade, so they need to register the trades for paying that fee. I believe that it is something Ray would rather stop sooner than later. They should just be more diligent, how they handle that information and encrypt it properly.
What is the probability for a New York Times headline
Spy became multimillionaire after reverse-engineering the fabulous trades of MetalTrade
or FatTails or any other retail trader who uses the poor man's trading platform called NinjaTrader (NINJA = No Income No Job and Assets).
Sorry, but the Argument of "poor" retail trader doesn't comfort me. Trust me, I have seen first hand what Immense force many "poor" traders can move prices @ the same time = Internet boom. You would be amazed
how institutions can get runnover by many little guys. I know I could find many edges by consolidating what
the masses are doing.
I think that the risk is quite high, if you have a FOREX retail broker who is trading against you. Platforms like MetaTrader are easy to exploit, in particular if the customer is not trading on a regulated market such as CME, but on the broker's own platform. That is where the real risk is!