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-- Big Mike, Site Administrator
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Hi @Big Mike Guessing everything is going great down there, I mean how can it not be great food,sunshine,awesome people, good 4 you. I am curious to get your views and comments as a businessman about the recent breaking news of NT brokerage?
TIA
Can you help answer these questions from other members on NexusFi?
I respect Ray at NinjaTrader, and the same is true for Eliot at Mirus. Personally, I am glad to see them join forces and I look forward to what they can accomplish together to improve the retail futures industry. It certainly needs it.
I personally think this is good news for both companies, as well as end users.
I also want to mention that NinjaTrader is a futures.io (formerly BMT) site sponsor, and Mirus has been one in the past. That said, I don't allow anyone to be a sponsor on the site whom I don't respect or agree with their business decisions or the way they treat customers. Many have tried, and I have said no. My respect existed for these companies and CEO's prior to them being a site sponsor, in other words. Although others may try to twist the truth -- you can reach your own conclusions.
I actually just left my account with Dorman after having had the worst experience I've yet had in trading with them, wouldn't go near them with a 10 foot pole. Two separate statement errors in the same 1 week or so period, both showing me as holding a position overnight when in fact I was not, and one of which led to a 15 point loss on my end after not realizing the position reporting was inaccurate due to their statement error. No overnight trade desk (I see Ninja is offering that, but I don't know how that works if the FCM itself has no one there 24 hours), and terrible margins -- I'm talking 50-70% on many contracts. The intraday margin I had on NG for example was $2000, when current overnight is $3080. Maybe Ninja accounts will get a better margin policy, but that's not what I had during my time with them. I'm certainly hoping this is a positive change as a lifetime Ninja license holder, but I really don't like the brokerage options being limited for new customers going forward, or that Ninja is vertically integrating as others have said.
Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?
Unfortunately you heard wrong, allow me to clarify:
Existing clients - Can continue to use NinjaTrader through their existing brokerage relationship now and in the future.
New Clients - Can use NinjaTrader through any of our supporting brokerage …
Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?
@Big Mike I see this whole thing as limiting some options. The only rithmic broker I see on NT list that will be able to add new NT customers is the lovely friend of this board AMP. Guys like Optimus while can continue to serve customers they have will not be able to signup new customers. At least this is the way I understand it. @NinjaTrader can correct me if I am wrong. So if I ever wanted to switch brokers which I don't as Optimus has been great my only choice for rithmic will be AMP if want to stay with rithmic. Add that to fact guys like Optimus can't add new customers over time could severely degrade ability to support the platform imo.
So this does limit options and can negativly affect NT license holders who want to stay with rithmic and refuse to be subjected to AMP paradise. So it kind of pigeon holes everyone towards Continuum which I had a bad experience with.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
I don't want to speak for NinjaTrader. But seems to me the issue is with Dorman, not Ninja. I imagine once the return to IIB is accomplished they can add more support for Rithmic through other FCMs.
It seems to me they are limited to Continuum right now.
But best to let Ninja clarify, as I may be completely wrong.