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Complete Ninjatrader 8 Tutorial For Beginners Step by Step 2024

Riley Coleman2023-12-16
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💫 Short Summary

The video tutorial covers the Ninja Trader platform, including chart setup, account editing, and data fee options. It demonstrates subscribing to products, chart customization, grid lines, and drawing tools. The segment also shows how to duplicate windows, use the chart Trader Tab for trades, manage multiple contracts, and act quickly in trading. Tips on efficient workflow management, using hotkeys, and customizing settings are provided. Additionally, the video explains Market Replay Data usage, Trade Performance analysis, and the speaker's personal experiences with the platform's functionality and drawbacks.

✨ Highlights
📊 Transcript
Tutorial on Ninja Trader Platform Setup
Importance of accurately setting up accounts for both sim trading and real trading, including adjusting commissions and reflecting live account conditions.
Color indicators for connection status, editing account properties, and managing orders, positions, logs, and messages are highlighted.
Market data subscription options are discussed, offering standard plan and customizable options for different markets at varying costs.
Tutorial on subscribing to CME, ES Futures, and NASDAQ products.
Opening new tabs, charts, and changing chart settings like minute values is covered.
Loading data for a specified number of days and adjusting chart settings is demonstrated.
Changing candlestick colors and accessing drawing tools is explained.
Moving and resizing charts, repositioning elements, and increasing right side margins for better visibility of drawings is shown.
Customizing grid lines and drawing tools in trading charts.
Adjusting horizontal grid lines and changing settings for drawing tools like trend lines and channels.
Saving custom settings as default and managing indicators for efficient trading analysis.
Duplicating charts in new tabs to streamline trading analysis.
Tips for efficient workflow management in Ninja Trader.
Demonstrates duplicating windows to save time recreating settings.
Explains linking charts for synchronized actions and using hotkeys for faster navigation and order entry.
Covers saving and setting defaults for easy chart repopulation.
Emphasizes accessing help using the F1 hotkey for optimal trading experience.
Utilizing Ninja Trader's Chart Trader Tab for entering trades and setting stop losses and profit targets.
Right-click on the chart to easily place buy orders, adjust order quantity, and drag orders to desired positions.
Customizing settings, inputting OC orders, and setting stop losses and profit targets based on tick values are covered.
Creating a trailing stop loss strategy based on profit points is demonstrated.
Clear instructions on effectively utilizing Ninja Trader's features for trading strategies are provided.
Managing multiple contracts in trading and adjusting order quantities, setting profit and stop loss targets, and customizing display settings.
Emphasizes the importance of keeping emotions out of trading by using color-coded visuals.
Recommends using hotkeys for quick order entry.
Tips on using the Click Trader indicator to facilitate fast order placement are shared.
Highlights the efficiency the Click Trader indicator brings to the trading process.
Importance of acting quickly in trading.
Frustration of getting rejected when market moves rapidly.
Use of market if touched order as a secondary option.
Benefits of using custom indicators on Ninja Trader platform.
Significance of calculating risk amounts and contract trades based on entry and stop levels.
Overview of using Market Replay Data in Ninja Trader.
Importance of closing other connections before starting to avoid issues.
Features of the Trade Performance section, with a focus on potential data corruption problems and the importance of accurate chart analysis.
Platform's theoretical accuracy mentioned, but does not account for commissions or fees.
Personal experiences shared regarding data loss and discrepancies, highlighting platform functionality and drawbacks.
Tutorial on Daily Strategy
The video presents a detailed explanation of the daily strategy used by the team.
It covers the importance of setting goals and priorities in the morning.
The video emphasizes the need for regular check-ins and adjustments throughout the day.
It concludes with a reminder to reflect and evaluate the day's accomplishments before preparing for the next day.