daytrading strategies, how to daytrade
If you are an avid day trader, then you have probably heard of Ninja Trader and Tradestation. If you are curious to some of the differences and why some use one over the other, we will clear that up here for you. If you happen to be in the beginning stages of learning how to day trade, this may help you to make the solid decision in using one or both platforms.
If you wanted to look at previously recorded data and practice trades as though the market was running live, then you will find Ninja Trader would be the way to go. If you wanted to really evaluate an area as it is developing or speed up past pre-market action, you have the ability to do this with Ninja Trader in order to get the most out of the time you spend practicing. Also, when it comes to actually entering or exiting a trade, when everything lines up for your particular day trading strategies, the DOM is exceptionally easy to learn and master. Or, if you choose, you can leave the DOM completely out of it and trade directly on the chart. But best of all, you can get very competitive pricing on your data feed and brokers because the y allow for you to choose who you’d like to use.
Now, if you look at Tradestation, one major advantage it has over Ninja Trader is the ease at which you can use the drawing tools on the charts. When you are trading, it is important for you to take notes directly on the chart. You are not able to select any other feed or brokers. They only have one option for you when daytrading with their charts. Also, the entry platform takes a bit of a learning curve. So, the easiest thing is to use both; Tradestation for charting and NinjaTrader for entries. Combine the two and have the best of both worlds.