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Tradestation account denial


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  #1 (permalink)
Skullbones
Boston MA USA
 
Posts: 1 since Nov 2018
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I tied to open an account on Tradestation and they denied me and wouldn't say why. Does anybody know why they would do that?

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  #2 (permalink)
 iq200 
London, UK
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Broker: Kinetick, InteractiveBrokers
Trading: Equities, Futures
Posts: 410 since Jun 2010
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As I remember from a while ago, you have to ‘declare’ your financial status - how much money, assets etc you have. Maybe the info you entered was not satisfactory to them?


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  #3 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
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Skullbones View Post
I tied to open an account on Tradestation and they denied me and wouldn't say why. Does anybody know why they would do that?

you do not need them, try ninja trader

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  #4 (permalink)
Tasuki
San Diego, CA/USA
 
Posts: 7 since May 2018
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forgiven View Post
you do not need them, try ninja trader

Just a heads up: I tried Ninjatrader, both 7 and 8, and found that their platform crashed constantly. Check out my posts on the Ninjatrader forum, just search for Tasuki.
At the time (back in January of this year, if memory serves), there were a flood of posts on their forum regarding the platform's shortcomings. In short, the folks that coded their software wrote the code very poorly, so that even 2 or 3 indicators on a chart would slow the program to the point where it was unusable.
If you look on the NT forum nowadays, you won't find any mention of this problem, but I gave up and went to Tradestation, so I haven't kept up with the latest news on Ninjatrader. I do know, however, that towards the end of January, the moderators of the Ninjatrader forum were actively removing posts that were critical of Ninjatrader, and they even removed my posts which referenced someone else's criticism of Ninjatrader.
To make matters worse, the few times I used NT8 for live trading, the fills were horribly slow.
Bottom line: IMHO, Ninjatrader would not be a good alternative to Tradestation. Maybe try ThinkOrSwim? Their commissions are a bit higher, and their platform requires a steep learning curve, but once you put the time into learning its arcane architecture, it's a good program, and their customer service is first rate. And they've got more indicators than you can shake a stick at!
FWIW,
Tasuki
p.s. Ninjatrader's free EOD data is first rate for swing trading, and the charts are very clean and easy to read. I still use NT for swing trading ideas, and it's entirely free, so that's cool.

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  #5 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 871 since Mar 2012
Thanks Given: 289
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i have used ninja trader for 10 years. you love it or hate it. i have had some problems. so does trade station . there is nothing wrong with the trade station software. but there ass holes as brokers . ninja trader is broker friendly for new traders. that is all i an saying .

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  #6 (permalink)
 iq200 
London, UK
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Broker: Kinetick, InteractiveBrokers
Trading: Equities, Futures
Posts: 410 since Jun 2010
Thanks Given: 146
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I had a Tradestation equities account but had quite a few problems. Firstly I found Easylanguage very quirky. Also Tradestation’s HB list was huge. I eventually converted from Tradestation to Ninjatrader but do find support for Ninjatrader a bit equities-unfriendly - Ninjatrader is also pushed only for fx and futures on their site ... last time I looked.


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  #7 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
Trading: forex
Posts: 105 since Apr 2013
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Have both Tradestation and Ninja Trader, Ninja does slow down my pc quite a bit compared to TS, NT fills are decent on futures but I do notice less slippage on TS. Will you notice a difference? Well if your scalping possibly if you are trading larger moves doesn't make much of a difference If you trade automated strategies intraday TS is king. TS is a much more mature platform. Another favorite no one mentions is OmniTrader by Nirvana, strategies are pretty decent and it gives you good buy/sell signals on Daily time frames for stocks. For futures NT will continue to improve over time

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  #8 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 871 since Mar 2012
Thanks Given: 289
Thanks Received: 587

if they will not let you open a account it does not matter about any good points they may offer. if you are new to trading trade station treats you badly for no reason. that is just a fact.

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  #9 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
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Broker: S5
Trading: Futures
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forgiven View Post
if you are new to trading trade station treats you badly for no reason. that is just a fact.

Never used Tradestation but that sounds harsh.

It also sounds contrary to common business growth logic. What evidence do you have that supports your point of view?

Just curious.

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  #10 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 871 since Mar 2012
Thanks Given: 289
Thanks Received: 587


when i first started trading i took a course on trading that also covered learning there platform. then after paying 500.00 for said course on leaning there platform they would not give me a account . if you have traded for a while or have a lot of money there may not be a problem. i thought that was bad.

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Last Updated on November 29, 2018


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