Is NinjaTrader Good for Beginners?

Yes, NinjaTrader is good for beginners who want to trade futures. Its platform is free to use for charting, backtesting and simulated trading, with no time limit. NinjaTrader’s free Learning Hub offers courses and platform training, and its brokerage has no minimum deposit to open an account.

It is a weaker fit if you mainly want to trade stocks, ETFs, spot forex or options, because NinjaTrader’s own brokerage does not offer them. Crypto is available there only as crypto futures, such as Bitcoin and Ether contracts. On NinjaTrader Desktop, stocks and forex are available only through a third-party broker and a paid add-on.

Millions of individuals worldwide have adopted a more hands-on approach with their financial investments for over a decade. Saving through a 401(k) or IRA is still common, but many people now also want a direct say in how part of their money is invested. They are moving from standing on the sidelines watching someone else handle their money to directly investing and trading their funds themselves. There are now many trading platforms for them to choose from.

Before selecting a trading platform, new traders must first gain fundamental knowledge about trading in general and educate themselves on the financial markets before putting any money at risk.

Five Things That New Traders Should Know

1. Basic terms and concepts.  Every new trader should have a firm understanding of the basics. That includes understanding the difference between trading and investing, going short on a trade versus going long, and all the different assets available to trade. These include stocks, forex, indices, commodities, cryptocurrency, and financial derivatives. Not every platform or broker offers all of them. NinjaTrader’s own brokerage, for example, is built around futures, including futures on stock indices, commodities, currencies, interest rates and cryptocurrency.
2. Understanding charts and technical analysis.  One of the essential skills new traders must develop is looking at a chart and quickly understanding what has and could happen to the price of that particular asset. Understanding the difference between support and resistance, basic technical analysis principles, and trend analysis are essential skills for new traders to learn.
3. Learn basic economics.  Understanding the fundamentals of economics is also essential for new traders. These principles will give them useful knowledge of how prices are determined and what outside factors can influence them.
4. Learn how to manage risk.  New traders will need to learn basic percentages to help decide how much to place on each trade. This is a crucial factor in risk management. Also, basic knowledge of statistics and probabilities will aid in understanding specific trading strategies.
5. The psychology of trading.  A trader needs to develop self-awareness and tell when they are in the right state of mind to trade. For example, if you are tired or emotionally distracted, you may not have the necessary focus to be effective in your trading. Knowing when not to trade can have a positive impact on your success.

New traders have several options at their disposal to learn the basic skills necessary to start trading. There are live and online courses available, along with hundreds of books and magazines to provide you with the knowledge you need to get started. Some trading platforms, including NinjaTrader, also offer free courses of their own. Once these essential initial steps have been completed, the task of selecting a trading platform can begin.

What Makes a Trading Platform Good for Beginners?

There are so many trading platforms available that narrowing it down to one can be daunting. This is especially true for someone who is just getting started. New traders should consider platforms that stand out in three areas to simplify this process.

1. Simple to use platform.  This is very important for new traders. The trading platform should be intuitive yet powerful with intelligent features that save time, thereby increasing a traders’ probability for success.
2. A variety of learning resources are available.  Easy access to educational resources is essential to traders at all levels, especially those just starting. It allows them to improve their skills and knowledge faster by having valuable information available in one location.
3. Excellent market research.  The ability to set up personalized market scanners and screeners is critical for traders of all levels. Other research tools include watchlists, top gainers and losers, and newsfeeds. Having this information on your platform keeps you in tune with whatever market you are trading.

NinjaTrader: A Platform Designed for New Traders

NinjaTrader checks all the boxes mentioned above and more when it comes to providing new futures traders with a platform that will help take their trading to the next level. Its charting and analysis tools let you rank, scan and sort markets by your own conditions, and add watchlists, Time and Sales, Level II, Hot Lists and News. Here are a few other benefits and features that make NinjaTrader a strong choice for new futures traders.

• NinjaTrader has excellent trading platforms for Windows PCs, web browsers and mobile phones.
• Low-cost futures commissions, with exchange, clearing and NFA fees on top.
• Customer service with 24×5 technical support and a 24-hour emergency trade desk.
• No minimum deposit to open a brokerage account.
• A simple online process for opening an account.

Let’s go into more detail about some of these features and benefits.

• No minimum deposit and low transaction fees.  Most traders, especially those just getting started, don’t have a lot of extra money lying around to open up a trading account.  They also prefer not to see their balance depleted disproportionately with high fees every time a trade is made.  We have no relationship with NinjaTrader Brokerage!  NinjaTrader says it does not require a minimum deposit to open a brokerage account, though ACH and debit card deposits have a $5 minimum. Our guide to the NinjaTrader minimum deposit explains why you still need margin for each contract you trade. Please ask their team for current details.
• Withdrawals.  NinjaTrader says withdrawals requested before 12:00 PM Central Time on a business day are processed the same day, and U.S. wire and ACH withdrawals typically arrive by early morning the next business day. Once a withdrawal is approved, NinjaTrader asks you to allow one to two business days for it to reach your bank, and wires to banks outside the United States can take up to three business days. The minimum withdrawal is $50, and NinjaTrader also has rules on when recently deposited funds and new trading profits can be withdrawn.
• Excellent education materials.  The NinjaTrader platform features high-quality educational videos and help guides. NinjaTrader’s approach to trader education is to learn the basics first, then practice in simulation before trading live. Its free Learning Hub includes video courses for beginners, platform training for Desktop, Web and Mobile, and NinjaTrader Live, a daily futures trading livestream that is free to watch on YouTube. New traders have access to a free demo account to practice and hone their skills before going to live trading. Once you learn the basics of technical analysis, you will find NinjaTrader quite intuitive and easy to use.

Why NinjaTrader Stands Out for New Futures Traders

• As a new trader, it is important to build up your confidence, knowledge, and skill before trading real money. NinjaTrader lets you sign up and use the software for free while you use its learning material and practice with simulated trades. There is no time limit on simulated trading, and a new account includes a free 14-day trial of live market data. After the trial, you can keep using the simulator with delayed data. Once you are comfortable with your ability to trade successfully, you can apply for a live brokerage account, fund it and go live.
• NinjaTrader’s platform is straightforward for new traders to learn, customizable, and can be set up to utilize more complex features and indicators as you grow and learn. NinjaTrader says more than 100 indicators are built in, and you can add third-party tools, custom indicators and automated trading strategies from its community of traders. This means you are unlikely to outgrow the NinjaTrader platform.

NinjaTrader gives new futures traders plenty of room to learn. They provide free access to their tools, allowing new traders to perform simulated trades and review all of the material in the educational resource center to understand better how the financial markets work before putting any money at risk. That way, you can learn all the benefits and features that their platform offers before you decide to open a live account.

If stocks, ETFs or options are your main interest, a stock broker will probably serve you better. Our guide Can You Trade Stocks on NinjaTrader? explains the third-party route, and Is NinjaTrader a Good Broker? covers NinjaTrader’s brokerage in more detail.