Running a second machine with NT7 and IB data feed

[Antraman]

My son wants to learn trading and use the same set-up I am using (NT7 + IB), I have a couple of questions.

1. Can I install a copy of NT7 on his machine from my downloaded installer? Should I get a new sim key for him, or can I put my sim key in his install as well? We will need to be able to run NT at the same time...

2. If I upgrade to the live account again, from memory I need to pay the NT subscription. Rather than pay double subscriptions, is it possible my son can also get a real time data feed from IB to practice sim while I trade? Or should I save historical data then copy to his machine and then get him to practice off saved historical data?

cheers,
Antraman

[NinjaTrader_Jason]

Hello Antraman,

1. Yes, however the PC will need to have internet access.

He can use the same free license - it is the same for all free users.

2. Unfortunately this is not supported. You cannot connect to the same IB account on two PC's at the same time.

He could subscribe to a supported data feed provider to receive market data in NinjaTrader and trade in simulation.

As per NinjaTrader 7, our preferred market data service is Kinetick. Real time service starts as low as $50 per month or completely free if all you need is end of day data. If you trade CME Globex products, you can have these exchange fees waived if you have a qualified brokerage account. This service is only available for NinjaTrader 7. Please visit www.kinetick.com for more detailed information.

[Antraman]

Hi Jason, thanks for your reply.

When you say preferred market data service is Kinetick, does that mean I can't use the IB data feed like I used to with NT5 and 6? I was paying $50/month in 3month blocks + TT fees for the static DOM. Has that all changed now?

I've been out of the loop for a little while....8-)

[NinjaTrader_Jason]

No, you can still use IB in NinjaTrader 7.

There are no changes regarding subscription costs and TT fees.

[ssylwester]

You can also create an IB paper trading account. It provides quotes. You run your live IB account on your machine, and log in to the paper trading account on the 2nd machine.