Daytrading: Should I consider other software than NinjaTrader?

xandman said:
He is looking for a solution that works on IBKR. He doesn't need all that functionality.
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Actually, I'm not. At least not initially. I will be funding a small account, probably in the ballpark of $5000, and if I'm not completely mistaken, you need a minimum of $10.000 with IB.

But you're probably right in that I don't need 'all that functionality'.

xandman said:
But, Ninjatrader is the best choice for you.
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Yes, at this point I'm inclined to believe so myself, especially since I haven't seen any compelling arguments for deciding against NT. While I'm sure it's not that hard to learn a new platform, I am very familiar with NT, so that's also something to consider.

Thanks to everyone for posting! :)
 
For that amount and your uncertainty over platform choices, why not go with AMP and their free platforms. You can definitely do better than trying to make something work for IBKR.

Additionally, I would have to concur that platforms mentioned by the other posters would be better choices.
 
While having a universal account at IBKR is a great convenience, using IBKR simply as a futures account is not a good choice.

You have been here since 2010, I can surmise that you are NOT some newb who wants to trade all the products in one go with a $5,000 grubstake.
 
xandman said:
For that amount and your uncertainty over platform choices, why not go with AMP and their free platforms. You can definitely do better than trying to make something work for IBKR.
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I haven't really put too much thought into what broker to use yet, but AMP is high on my list. I see that they now have a lot more 'free' platforms than what they offered back in the day when it was only NT and I believe X_Trader.

xandman said:
Additionally, I would have to concur that platforms mentioned by the other posters would be better choices.
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I thought you were rooting for NT. Or was that on basis of cost?

If so, which other platform? :)

You have been here since 2010, I can surmise that you are NOT some newb who wants to trade all the products in one go with a $5,000 grubstake.
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No, not a newbie.

As already mentioned, I will be day trading one instrument only, ES, one lot. :)
 
Faster/lower footprint, better volume/market profile studies/functionality, better custom study approach (NT tends to use indicators for everything and it's clunky), great chart trading with DOM (all levels, unlike NT which stops at 5) and price levels right on the chart, solid data-feeds (private labeled barchart data), solid footprint bar implementation (numbers bars), incredibly customizable (just about everything and can put a keyboard shortcut on nearly everything), simple to debug/interchange data/charts between installations (mostly flat files). Good documentation. Once one gets situated and things configured as they like, saves chart profiles/defaults for use later, etc. then they're good to go. Very solid for futures trading.

Much more reasonable platform price IMO (although NT offers lifetime plans).
 
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Laissez Faire said:
Many thanks, i960. I do not use market profile, nor plan doing so, but the platform sound excellent by your description.

I'll look into it! :)
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Sierra Chart also provides tick by tick historical data for ES dating back to the June 2011 contract. On the other hand, NT seems to have stronger scanning capability:

https://www.sierrachart.com/SupportBoard.php?ThreadID=10559

In addition, if you do a tick by tick market replay using Sierra Chart, you'll see the bid/ask price with size of 1, that is, no market depth on the DOM. I heard that in NT the customers could see several price levels during the replay.

As usual, there is no perfect software. We need to compromise.
 
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