Newbie Questions

[mikedmonds]

Dear Forum,
NJ is new to me, and am confused about what it can do. Can the free version communicate with Trade Station to receive data feeds for charts and to execute trades? I like to trade penny stocks. Will it handle orders for .0001 units? Are there provisions for trailing stops, stop loss, and limit orders; or can these be programmed? Are there programs available for share ware use?
What is the best broker to use for unlimited shares?
Thank you so much!
Sincerely,
Mike

[NinjaTrader_Jason]

Hello Mike,

Yes, the free version will allow you to receive data from TradeStation. Subsequently you can trade the NinjaTrader sim101 account. You can find a TradeStation connection guide at the link below.

http://www.ninjatrader.com/webnew/support_TradeStation.htm

Order quantities of 0.0001 are not accepted in NinjaTrader order entry windows.

However, if you enter a value of 1 for order quantity, each tick will have a value of $0.01.

You can use ATM strategies to automatically submit a stop loss and profit target. Please see the following link for more information.

http://www.ninjatrader-support.com/HelpGuideV6/CreatingAPositionStrategy.html

Additionally you can apply a stop strategy in your ATM strategy, such as the AutoTrail and Auto Breakeven.

AutoTrail

http://www.ninjatrader-support.com/HelpGuideV6/AutoTrail.html

Auto Breakeven

http://www.ninjatrader-support.com/HelpGuideV6/AutoBreakeven.html

I am not quite sure what you mean by 'share ware use'. Could you please clarify.

In addition, you can find a list of supported broker partners at the link below.

http://www.ninjatrader.com/webnew/partners_onlinetrading_brokers.htm

[mikedmonds]

Questions

Hi Jason,
Thank you for the reply! Does "simulated" mean that it will not make actual trades? Do I need to purchase a liscense to do that?
Thanks!
Mike

[NinjaTrader_Jason]

Hello Mike,

That is correct.

You will need to purchase a license in order to trade live with our software.