NinjaTrader with Free Kinetick’s End-of-Day Data Better than Esignal
As I have cancelled my Esignal subscription due to high cost, I gave NinjaTrader another go as far as US stock trading concerns. Given the fact there isn’t any free real time data vendor, Kinetick offers free End of Day data for position and longer-term trading than day trading. I’m quite satisfied by their free service, although I have pointed out some false numbers and charts, especially when a split takes place in the previous days. Other than that, NinjaTrader connects on startup to Kinetick’s servers and updates all prices. I then use Market Analyzer to sort the stocks and to find potential trades.
Esignal cost me $129 for their software, plus $30 for US and Greek markets, plus 17.5% tax due to being an EU citizen each month. Although I was mainly interested in day trading and traded on the 5-minute and 15-minute charts, due to my bad performance I decided not to pay for a service that is both pricey and useless for me. However, I wanted to keep an eye on the market, in case I found a setup on the charts that could prove profitable. Upon searching for free end-of-day data, I kept on bumping into eoddata.com which was recommended by many online traders.
Before I registered with eoddata.com, I thought to try out the free Kinetick’s data, since it is already included in the trading software of NinjaTrader. Alternatively, you can use Google or Yahoo free finance services for EOD data, but their data doesn’t go so much back in time. Don’t forget that NinjaTrader is also a free charting software, unless you are going to trade through it – that is connect it with your online broker’s software and buy or sell using NinjaTrader’s interface. As I just wanted to scan through charts in the morning without the delays, crashes and lags of Interactive Broker’s Trader Workstation, NinjaTrader’s software performs the task exceptionally. Yet, if I fancy a stock, I just use IB TWS to send the trading order. Besides position trading means much less trades per day than day trading, so I am not expecting to send out many orders per week.
I also keep hearing about the Strategy Analyzer of NinjaTrader and the advantages of its system tester and language. I might give it a go that one as well.