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Post by traderAllen on Nov 1, 2014 19:12:25 GMT -5
This is just a rundown of the basic things you need to set up your tick charts for trading using ninja trader. I suggest keeping the colors very basic, just as Bob suggests. Worry about adding fancy colors after you get better at chart reading.
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Post by fxoutlier on Nov 1, 2014 19:50:53 GMT -5
Thanks for this excellent video traderAllen. I assume when starting out with MB I won't have the full version so will have to trade through a separate window with MB.
When starting out I assume I first join up with MB then access NJ and follow your instructions. What about the time window you usually show on your charts beneath the tick chart? Also are those all 00, 20, 40, 60, 80 lines or can you include the 50 and can you have them across the whole chart as Volman does. Of course he doesn't have the 50. Also what is this Kinetic data feed you have advertised on your website?
I've ordered the new book and looking forwards to it, but don't want it to divert my attention from my fpas studies. Enjoying the conversation about prorealtime with keen246 aswell. I hope he will continue this theme and maybe elaborate on the costs and negatives of the platform on top of the interesting screenshots and his problems. All good stuff as I might find myself in the future asking the same questions.
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Post by traderAllen on Nov 1, 2014 20:42:34 GMT -5
You are correct after you open an account with MBT, you will have access to their desktop Pro trading platform, which in itself is a great trading platform. Than you would go to the affiliate On their webpage when is a link that shows you how to download ninja trader to use with 4X. The advantage to doing this is you can play with most of ninja traders features without having to take $900 out of your pocket to buy it should you decide this method doesn't work. The main reason I use ninja trader is for the four digit charts. Desktop Pro requires five digits only, also note you need the desktop Pro account and not the meta-trader account. Meta-trader doesn't give you the access you need for NT.
It is possible to purchase additional coding for meta-trader to create a Forex price actions scalping chart in meta-trader, however my experience was meta-trader which I have and use all the time for other reasons is not suitable for scalping, the order fills are way too long.
Kinetic data feed is probably the best on the market, however it is costly. And since the data feed that I use free from MB works great there's no reason to purchase the extra data feed.
Once you become a profitable trader, it's only natural to want to create the most robust system you can as your position size get larger and larger you need more security and your trading. However in the beginning when you're starting out, you need to take the low cost method. Since at this point you don't know for sure if you're even cut out for trading. (By the way I mean you as anyone reading this)
Thanks for the nice comments about my videos there greatly appreciated.
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Post by traderAllen on Nov 1, 2014 20:51:08 GMT -5
By the way for those people not aware, when the new ninjatrader eight is released, it is far different from ninjatrader seven in the fact that many of the data crunching functions that require lots of processor time will now be all server-based. This will allow the new platform to respond much more efficiently and with greater speed.
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Post by traderAllen on Nov 1, 2014 22:24:52 GMT -5
fxoutlier,, The lines can be how ever long you want them, and at what ever increments you choose I set mine to any number ending in 0.
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Post by fxoutlier on Nov 2, 2014 7:18:04 GMT -5
There's not many places you can get free and unbiased information on trading related issues, especially on such a specific subject as fpas. I'm lucky I came to your forum in its early days as it is almost like I have my own personal mentor.
The small group who regularly return to the forum have obviously spotted the same value as myself and some interesting threads are starting to emerge.
It is mostly your postings and videos that keep the whole thing going and it's much appreciated.
Thanks again.
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