Ninjatrader Forex / futures EUR/USD commision help for ...

About to start trading for the first time. Anyone wanna talk?

I don't really have any specific questions, just looking for general advice. Well, maybe one...see the bottom.
I've gone through most of the babypips school, and just finished reading Courtney Smith's book.
I have somewhat of a bit of background in game theory due to hobbies (I was one of the better players in the country in the national tournament scene of a certain video game, and have close friends who have been ranked in chess and poker who I have been playing with and learned a lot of game theory from), and tend to prefer boring, "turtle" strategies.
I considered scalping, but I don't think it will fit my lifestyle (time consuming). So, I'm probably going to look at position trading the daily charts, and I'll start mostly with the methods from the book I was reading. I want to be as disciplined as possible- picking entry/exit points before entering the trade, doing as much of it automatically via stops as possible (which I will look at and adjust only according to TA), and looking at my positions once per day. No emotion.
On a long flight yesterday I finally sat down and wrote up a trading plan, buying on a few techniques, all of which have set stops.
I'll calculate my position size so that if I am stopped out (stops based on technical analysis) I will lose 1% of my account value. This also means that positions with wide stops will not be very profitable.
I will write down every trade and what signal I used to make the trade. Every thirty trades, I'll eliminate my worst-performing signal and replace it with a different one, and see how I do.
I did some backtesting on EUUSD over the first few months of 2009. Trading on inside days seemed profitable, as well as reversal days. Channel breakouts were iffy...I used the ADX filter to exit, and that let me exit at really good times, but because the stops were too wide (for long position, I was buying at 55 day high breakout and setting stop to 20-day low breakout) I was barely making any money off of it and that was wiped out by the bad trades. I need to figure out where I can place tighter stops on Channel Breakouts without removing too many winning trades. My biggest concern is that inside days seemed too consistent...I usually made almost as much money as I was risking on my stop every time I did it, barring one or two times where I basically broke even. Seems like a couple losing trades could've set me back pretty quickly and I should be seeing more.
I should probably do more backtesting, but I feel a trial by fire would work better. I'll probably just set the risk to 0.5% instead of 1% and start a very small account and see how it does (I'd have to lose hundreds of trades in a row to get wiped out).
Am I doing this right?
And, the real question- what broker should I use?
Right now I'm looking at Oanda. I saw a poster saying good things about IB and I'd rather use Ninjatrader because I hate MT 4, so I might look at shifting over to them when I have more money, but I don't have $25k liquid cash available to open an account with them. Oanda's flexibility with position size seems ideal for my ~1% risk on stop plan.
However, the more I read about Forex brokers, the more nervous I get...they seem to make money when you lose and engage in all kinds of unscrupulous tactics like stop-hunting, slippage failing to trigger stops, and raising the spreads during big moves. Feels more like playing against the house than trading. This alone makes me feel tempted to go trade stock options instead with the same plan and see if that works. Thoughts?
submitted by NPPraxis to Forex [link] [comments]

How to back test properly with Metatrader? Step by step process. Deep Analysis Of Slippage and Commission In NinjaTrader 8 Two Ways to Run a Backtest in NinjaTrader 8 - YouTube Using NinjaTrader Simulation to Practice Forex Stock ... NinjaTrader 8 Top Seven E-mini Strategies for 2019 Controlling Slippage NinjaTrader 8 - Backtesting Strategies - YouTube

Slippage occurs when the actual execution price differs from the expected price of an order. As a result, the fill price of an order is different than the price at which it was submitted. It most commonly occurs with market orders during periods of heightened volatility but slippage can also occur in large orders & […] Pay attention to spread and slippage while scalping. Read More . 1 Item . Search. Popular. How to become an algorithmic trader - Lesson 0 October 20, 2017 . Forex Correlation as a key to understand the market April 15, 2018 . What is leverage in Forex? April 8, 2018 . How to become an algorithmic trader - Lesson 2 October 24, 2017 . Market Update: Dollar Index and S&P forecast September 16 ... Thursday, 25 May 2017. Ninjatrader Backtesting Forex Come up with an overall correction factor so that your backtest results are very realistic. Guessing about slippage is almost impossible because you have to make too many assumptions. You need good data so that you can see what executed and at what price. Even then you can't assume that an execution would have been yours - it's always best to go a penny up/down from your target price. If you ... Hi. I use NT7 with imported 1 min forex data, that Ninjatrader handles by considering only bid prices. I saw there is no way to include bid-ask spreads into backtesting, so my workaround is that of setting a commission, then backtesting with "Include commissions" set to true, and simulating trades with a fixed lot size, proportional to commission. Example: - I want to backtest on EURUSD ... Special Circumstance with Forex backtests During a backtest order quantity is an absolute value, which is in most cases different than in a real-time brokerage account. As an example, 1 traded FX lot at a live brokerage account might be the equivalent to 100,000 of notional value (check with your broker) however, in backtest a value of 1 is a literal value of 1 and not 100,000. For slippage, during the backtest there is a spot on the options for slippage. Enter 2 ticks per side. I would say that in general, anyone can make a robust looking strategy seem profitable by not counting slippage or commission. Said strategy will almost certainly lose money once you factor in reality, including a proper length backtest and proper length forward test. Mike. We're here to help ...

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How to back test properly with Metatrader? Step by step process.

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