🌞 SUMMER IS HERE!!! – 20% OFF Everything – Up to 40% OFF – Expires ⌛ Sunday, June 8 🌞 Click Here
Having a good trading platform goes beyond merely enjoying the design and interface. The right platform can actually impact your performance, for having the right features will better enable you to trade futures successfully. Asset availability, core features and third-party integrations can all influence how profitable you are.
NinjaTrader and ThinkorSwim are two of the most popular platforms among active retail traders. Each has its own advantages and disadvantages, and you’ll ultimately have to decide for yourself which one to use. Here’s a guide to help you choose for futures trading.
NinjaTrader is for advanced derivatives traders who use in-depth analysis and want customization options. There are plenty of built-in features for technical analysis, and even more third-party integrations such as our add-ons for NinjaTrader.
The biggest downside is being limited to derivatives like futures and options on futures. If you primarily trade these and understand more advanced strategies, however, NinjaTrader is probably the better platform for you.
(Some of these features require add-ons, such as Order Flow Entry Orders or Duplicate Account Actions.)
ThinkorSwim makes active trading accessible for novice and intermediate traders. Quality charting options and detailed reports make it easy to blend technicals and fundamentals, and a library of educational resources will help you learn more about each.
You can access the platform via computer, tablet or phone. You’ll have some difficulty charting on a phone. Do your research on a computer, however, and then you can monitor trades from anywhere while you’re out.
One downside is that you’ll be limited to using TD Ameritrade as your brokerage, but you can trade derivatives, stocks and ETFs through the platform. There also aren’t nearly as many third-party add-ons for ThinkorSwim.
Choosing between NinjaTrader and ThinkorSwim depends on your level of trading experience and the types of assets you prefer to trade.
The biggest reason to choose NinjaTrader is because of its more advanced features. If you’re an experienced trader who understands charts and order execution in detail, you’ll probably find ThinkorSwim lacking in some aspects.
With NinjaTrader, you can build and automate highly customized trading strategies, utilize professional-grade order flow tools like footprint charts and volume profiles, and integrate third-party indicators tailored specifically for futures markets.
Granular control over trade management, along with the ability to simulate and backtest strategies using historical tick data, makes it an ideal platform for serious futures traders seeking precision and performance.
You’ll want ThinkorSwim if you don’t just focus on futures or options on futures, which is essentially all that NinjaTrader offers. Having access to stocks and ETFs lets you de-risk when day trading, and could be more suitable for long-term investing.
Of course, you always could use ThinkorSwim for trading stocks and NinjaTrader for derivatives.
While ThinkorSwim provides paper trading, this isn’t the same as true simulated trading like NinjaTrader has.
Paper trading is great if you’re learning how to trade, or if you’re initially testing out new strategies. It’s what you should use when practicing.
Simulated trading is essential for backtesting strategies, as it allows you to see how both new and existing strategies would perform under various market conditions.
As a dedicated computer-based trading platform, NinjaTrader generally provides faster execution than ThinkorSwim. The web- and app-based approach that ThinkorSwim uses is more convenient for casual traders but can result in slightly slower execution speeds compared to dedicated desktop platforms like NinjaTrader.
Similarly, each platform offers a different type of accessibility. You may prefer either one, depending on your schedule and lifestyle.
NinjaTrader affords 24/7 access to futures markets (which virtually never close), whereas ThinkorSwim generally only provides 24/5 access. You’ll be limited to Monday – Friday trading with ThinkorSwim.
NinjaTrader doesn’t offer a non-desktop app for trading, partly because its charts are so advanced and partly because of how many third-party add-ons you can use. In contrast, TD Ameritrade offers both web-based and app-based trading for most devices.
Being able to trade on mobile devices might be an absolute necessity if you’re regularly out during weekdays, when markets are most active. You also may choose ThinkorSwim if you’re traveling frequently, and don’t always have easy access to a computer.
The biggest advantage of NinjaTrader is its more advanced charting and trading options. Take full advantage of these by setting up third-party integrations that make the platform even more powerful. We at Affordable Indicators are dedicated to making some of the best NinjaTrader tools.
Whether you’re a newer trader or more experienced, be sure to check out the educational resources that TD Ameritrade has developed. You’ll likely already know some of the material. There are bound to be other aspects of trading that you don’t have full command of yet, though.
There are many factors to consider when deciding between NinjaTrader and ThinkorSwim. As you evaluate the two options, be sure to factor in the many additional features that NinjaTrader add-ons can provide. You might also consider signing up for each to see which platform’s built-in features you like better.
Whichever you decide is better for your trading style, here’s to doing well in the markets. Set up one and get trading.
The Enhanced Chart Trader makes it easy to manage trades in a Chart window by solving many common challenges.
The Impact Order Flow analyzes tick data to create a dynamic display of details that truly impact trading decisions.
We build the best NinjaTrader indicators with years of experience in trading futures and understanding what traders need.
We would love to hear from you! The best way to reach us is using the circular help button in the bottom right corner of this page.
Are you ready to take NinjaTrader to the next level? Enter your email to SAVE BIG on your first purchase!
