Please explain multibroker data

[westofpluto]

I have the single broker version of NT8, but I am thinking of upgrading to the multibroker version so that I can get access to a particular stock broker account (supported by NT) which has stock data and forex data. But i don't quite understand how this works and I'm hoping someone can explain it to me.
I understand thatthere is a fee to upgrade from single broker NT8 to multibroker NT8. That's fine, that is not my question.
Assuming I purchase the upgrade and now have the multibroker version, I assume that I can add a "connection" to my stock broker account. Then in my connections menu I will have options including "Live" and "<stock broker>".
So when trading, can I have both connections active at the same time? The Live connection is the NinjaTrader broker and the <stock broker> connection is to my stock broker. How do I select which broker I want to trade with?
Suppose I want to trade with NinjaTrader broker, but I want to use some chart data (say for indices) that is only available on <stock broker> in order to help me determine whether to trade. In other words I am only using data from <stock broker> but I am trading with NinjaTrader broker. Is this possible?
And if I open a chart for say ES futures, where the data is available from both/either NinjaTrader broker and <stock broker>, how does NT8 know which data feed to use?
Please explain, thanks.

[NinjaTrader_ChrisSch]

Hello westofpluto,

Thank you for your note.

In NInjaTrader, the order of connections is significant when using multiple connections. The first provider you connect to in the platform is considered the primary provider for all asset types it supports and all following connections would be considered secondary. If you connect to a Futures data provider such a NinjaTrader Continuum and then to a connection that supplies equities data such as Kinetick, the Futures data would come from NinjaTrader Continuum primarily and the Equities (and other asset types such as Forex) data would be coming from Kinetick.

It is certainly possible to utilize multiple connections successfully in the platform and in NinjaTrader 8 you can even designate certain providers as the "primary" provider based on asset type regardless of the specific order if you wish. You can do this via Tools > Options > Market Data > Preferred Connections

For more information, please see our help guide: https://ninjatrader.com/support/help...onnections.htm

Please let us know if further questions come up.

[westofpluto]

This only partially answers the question, so let me elaborate.

Suppose I connect first to my "Live" Ninjatrader trading account (I assume this is the same as what you call Ninjatrader Continuum) and then connect second to my other broker which has stock data, futures data, and forex data. I think what you are saying is:

1. The first connection (Live/NT Continuum) is the "primary" connection and the other broker is the secondary connection.
2. If the primary connect has data for a given instrument (like futures) then any futures chart will use data from the primary connection. Any (futures) data from the secondary connection will not be used.
3. If the primary connection does NOT have data for a give instrument (like stocks and forex) then any chart for that instrument will use data from the secondary connection.

Am I correct so far?

But you did not address the issue of trading. So let me ask specific questions for the above scenario:

1. If I open a futures chart (which uses the primary connection, eg Ninjatrader Live) and I want to trade futures, does this mean that any futures trades that I make from the DOM (or from the chart) will be in my Ninjatrader Live account? Is there any way to trade futures in my other broker account if I have these two connection opened in this order? Or can I only trade futures in my other broker account if I make that other broker account the primary connection, either by opening that connection first or by using Tools > Options > Market Data > Preferred Connections?
2. If I wish to trade stocks or forex (these instruments are not provided by Ninjatrader) , then does this mean that any trade are automatically made in my other broker account? Can I still trade from the chart and/or DOM for these instruments?

Thanks

[NinjaTrader_Spencer]

Hello westofpluto,

Thank you for your post.

You are correct for the first 3 items.

For the first additional question this will depend on what account is selected in the Account drop-down menu in your order entry window.

Any orders placed will be placed on the account that is selected and all available accounts for all active connections will be listed. This is not affected by the preferred connections.

For number 2 you will need to ensure that you have the proper account selected for the instrument you are attempting to place orders on.

You may use Chart Trader or the SuperDOM (Dynamic) to place orders on Forex, Stocks, and Futures.