NinjaTrader Day Trading Chart Setup And Demo Account

so in this video I'm going to show you how to set up the NinjaTrader 8 demo account and as well as the charts so you have your charts exactly set up like mine and then of course the add the money strategy so you can trade fluidly now if you already have a demo account set up you can definitely skip ahead in the video to actually see how I set up my charts or the at the money strategy not actually set up an account you're not gonna want to go to the NinjaTrader and just open an account you're actually gonna want to either google ninja trader demo account and it will come up with this link or I'll put this link in the description below for you so you can then easily find it because setting up a demo account is actually you don't have to put any money in but if you want to open up an account you're gonna have to deposit money in a ninja trader so what you're gonna do is you're just gonna fill out your info and then just go and say you're not a robot and submit and then make sure you are also selecting futures up here because we are trading futures and then this is gonna process and send you an email with how to set that up and then so before that you do want to go it's going to redirect you to this page and you're gonna want to select ninja trader 8 and then download the ninja trader platform onto your computer and then you don't need to look at this connection guide I will help you with that so you should get two emails and one of them will have your login credentials now once you have the ninja trader all downloaded just open it up and it should come up with this screen right here now this is definitely a little different than some normal brokerage platforms when I first open this it was very confusing so how we actually got it we have to connect to get market data so we're gonna want to go up here to connections and then we want to go to configure and so there's all these connections here we're going to want to go to the ninja trader continuum and you can just double click this or click Add down here and so this is going to give us our connection here and then what we're gonna do is we're just gonna take this username and then this password here and just copy and paste those in and then all these settings here you can just leave we can we can name this as just my demo account and then that is gonna we can click apply and then this is going to just bring up a disclaimer and then over here you can see now we have that name that we can click ok and then you're gonna want to actually tell it to connect to my demo account now I think one more configuration you can have is you wanna if we go back to the settings here you want to actually click connect on startup I'm just gonna leave this unchecked because I have my normal account I connect to but on this if this is your main connection you want to have it connect on startup just so you don't have to tell it to connect every time it'll just automatically when you open up the platform it'll connect here and then it'll you know open up the normal settings that you normally have and so this is going to have our accounts here so these are our two demo accounts this is the one we just made so here's my two other accounts I have on my other account and so this is our demo account and the one you will probably see and so with these demo accounts you cannot actually reset them so if we just right click on the demo account you can't go in here and reset this you can add and change your Commission's if you want to try and make it a little more real but unlike so there's a when you have a real account you can make simulated accounts and edit them and reset them but so just keep in mind that with your demo account they do have they are starting to lock down on how many demo accounts you can create so don't go in and just trade a thousand Lots or a hundred contracts because if you do blow up your demo account you are gonna have to go make another one and you might have to use a different email and stuff so that could be kind of annoying just try and make it as real as possible and stick to trading one contract at a time or how many you plant actually do so we're just gonna leave this as okay now futures are not quite like stocks right futures have expiration dates and so you need to be changing the symbol that you're trading every quarter or every three months you can't just leave the symbol in there like on toss you can just do backslash yes and it will change it for you but on ninjatrader you need to update it every three months so either that is on the chart you can put in the correct ticker symbol or under tools here if we go to database management you can see right now here we are on the current the current one is three twenty and so that means that this expires on march 20th so that is generally a Friday so come the Monday after that expiration you're gonna want to start using this new contract which is six twenty and so in here if you have a new account this should be up to date but if you have an old account you're gonna want to update these and it will update the insurance to the current one it didn't change it here because we're already up to date but that will change it for you automatically or in the chart what you can also do is just type in this ticker symbol to the chart and it will do that for you as well and so to actually make a chart we're gonna want to go to this new tab up here and then click on chart and so this is just going to give up give us a few settings and so our instrument here that's just going to be our ticker and we're gonna want to do the es 320 and so we can actually pin this so that's always at the top there and so when we get to the next contract we're and it's going to be o 620 we're gonna want to change this and so update that so right here this is if you have a custom template and you can just paste that on to a new chart but so here this is what it looks like making a default one so price we always want that on last pretty much all these settings you can leave the same but for a type we're gonna want to go to tick chart because we're using a tick chart and then change this to two thousand and then days you can just leave the on three and then pretty much all these settings you can leave about the same to a lot of this is personal preference in terms of colors and all that and so we're just gonna click OK and it's gonna open a chart over here for us and so this is pretty much the basic kind of setting up other chart and so first off what we're gonna want to do is you can just right click on a chart and we're gonna want to add that 21 EMA so we're just going to go to indicators and then you can't search on here so you're gonna it's gonna be alphabetized but you can't search so you're gonna have to scroll down to EMA so here we are here's EMA just double click that and then over here you just change it to 21 and then all these settings are you pretty much leave them the same and then you can change it to the color of your choice NinjaTrader has a ton of different colors that you can use and so i like blue but of course that is completely up to you now another one we want to add is because on toss the tick counter is already there we're gonna have to add this on toss as well so we can go down here and do tick counter and then hit apply and so that is gonna allow us to see the countdown and so it's already set to countdown which i like because it kind of counts to zero so you can easily know when a bar is about to be finished because we like to trade and know based on a freshly made bar not an active bar and so once we hit okay that'll all be there and then another big thing is we want to change the gridlines we want the horizontal gridlines to show one point so we can actually see what at one point scalp looks like so if I right click on the y-axis over here and click properties you're gonna want to go here on horizontal gridlines change this to fixed and it should default already to one point and then we can just click apply and you can see that now for every one point if I just zoom this out for every one point here we can have a horizontal grid line so for when we're scalping we can see that we can at one point now right now the market is extremely volatile this is not a normal day in the market the market doesn't easily move up a hundred points or fifty points in half an hour normally these lines will be a lot larger on the chart when we're in normal market conditions so these lines look a little silly right now but when the market is in normal conditions for scalping this will make a lot more sense now another thing is drying tools right so we like to use drawing to it so you just right click you can see there are a ton of different drawing tools and so the main ones I like to use are the line drawing tool right here just a quick this allows you to just draw easy support or resistance lines another one is if we go to drawing tools again we have the horizontal grid line that's nice for if you just have a low for the date right so if you just say oh here's the low for the day I just want to keep track of that as the day progresses and you can see you know it's it's hitting that low quite a few times right and then the other one is channels and so channels this can just be drawing for you know visualizing a channel and then what you're going to want to do is you can change these so if you double click on any of these drawings it'll bring up the properties and so if you have one thing if you have multiple charts here this is how you can have it show up on multiple charts when you draw this and it's under here it'll say it'll automatically show up on all charts so if you have another chart on another screen this line as you're drawing it will automatically appear on that other screen and then here you can change the colors of the lines and then down here you can save that default so you always have two it won't save the default for you you have to go to the template and save and then you can just save as default and that's that will come up for you and then every time you use that now it'll be a default now one thing with the channels is it's good to add a mid line for a channel so if you scroll down on the properties you just want to go to that fifty line and that should be default there but if it's not you're gonna want to add and then it will add that for you right here and then you can just change the settings there as well and so that's pretty much all four drawings now one thing is with drawings is you can actually add hotkeys and so this makes it really easy for drawing quickly so without having it you know right click I can just with hotkeys I can just add my drawings really easily now so how you do that is if we bring up the just the main demo screen or the main menu screen again is its under tools I believe and then hotkeys right here and so there are a ton of hotkeys and I would just suggest doing just the major ones of those drawings like you have so here under drawings you can see there are a ton of hotkeys now I don't use hotkeys on all all these things I just use on those three drawings just so it's easy to put those in and you can set those up to draw how you like and so I just have the line is control one I think a channel is control two and then the horizontal line right here is control three and that's just super easy for me and control one two and three and so that makes it easy for the hockey's now that's pretty much it for setting up your chart now if we go up here once you have your chart set up and we go up here this is where you can change your ticker so you can also type it in so without if if you come to the rollover a date and you you don't want to have to do that update or anything you can just go up here and type in 0 620 which is the next rollover date and then you'd press ENTER now one thing on ninjatrader is you have to put in a zero before this six it has to always be in this configuration if you put in no zero so if I do this the current expiration if I just did 320 it's not gonna come up with one it's gonna say invalid you're gonna have to put a zero in here to actually come up with the correct ticker so one thing I like to do is I like to have my main kind of zoomed in looking at the past you know recent price action right but it's good to have overall visual visualization of what the day is happening in the overall trend and so I like to have one chart that's kind of zoomed in and I'm using actually to trade and then another chart that's kind of zoomed out to see the overall trend and what's happening throughout the day so an easy way to do that is just up here on charts just right-click and do duplicate window and then I leave all the settings the same the only setting I do change is if we go to the x-axis and properties I just changed the horizontal gridlines to be 10 points so this kind of gives you a an easier visualization of how many points the market is moving throughout the day and again because today is super volatile you can see there we're moving tens of points we're you know moving to 50 having 50 point swings and that's not normal usually you're having ten point swings throughout the day and so when the market is crazy like this these horizontal gridlines give you that visualization very easily if you don't have the gridlines it's kind of hard to see that you have that huge volatility and how big each candle is and so that's why the horizontal gridlines are very helpful so one thing here is if you want to save this workspace so you have a default space that opens up every time and that you you know in case you make any changes you want to always have a default you can have there will be this untitled here that you can click save or save as now if you want to create new it will actually if you create new here and we you know say day trading setup it will refresh everything so if I close everything here it'll exit out all of that and then that's when you start from scratch so just be aware that if you say new it's not gonna save what you have it's going to actually try and make you a fresh new setup and then you'll start from there so make sure to save your setup first to this and you can also just save as and change the name so you don't actually lose that chart setup you just went through making so now that we're all set up we can actually start talking about entering trade so we're gonna want to go to the chart trader up here and then click on the chart trader that's solid and so what this is going to do is it's gonna bring up our demo account and so we can switch to our demo account here and this is just going to be the basic order type and so we haven't made any settings here so this is just an easy way to buy into the market or sell the market and this allows you to this brings up these settings here so when we right clicked on before there wasn't these by market or by limit orders there was just you know the drawings and everything now what you're going to want to do is you want to make sure you have the right account you're gonna want to put your time in force to good till cancelled and this just makes it so your orders will always be open so in case you have a runner that you want to leave overnight for some reason is your order won't be cancelled by accident and you won't have you know a contract out there without any stop-loss and you won't have unlimited risk in that potential ways so you can change your order or quantity here so this would just be how many contracts you want to trade you just quickly right click and change or buy or sell at what we want so one thing we want to do as well as you can see there are no crosshairs so it's it's hard to tell what price were actually on what you want to do is you want to just right click on the chart and go to crosshairs and so you can do just local here and so that brings us the crosshairs and what that's really helpful with is is seeing what price you're gonna be entering at so if we wanted to buy above this bar right here we want to make sure we're buying at at 50 right there right so we'd want to do a buy stop and then we would that order is now put in there that order is a buy stop and if the market comes up and taps this it will fill our order and then the same if you do a sell stop we can right click here and we put a sell stop below that bar and then this will just enter us in a trade it the market hits one of these areas and so so you can see here we are in that trade and it did reverse on us and so here you can see this is how much you're down and so this isn't dollar values this is take values and in the es each tick is 1250 so what we can do here is if I just go back in that trade we can right click here on at the money strategies and then you can change that setting here display units and so you can change it to a few different things generally you'll either want ticks points or currency and so currency that'll actually show you a dollar value now I would suggest keeping it at points just so you don't have that money value going against you so you know you can see when when you're down one point that's gonna say down $50 or down two points and that can be emotionally triggering to you and it might make you want to get out of a trade sooner so leave this on points it just makes it so there's that less of a dollar value think about it it's just more it makes it more robotic and not as much of a real tangible thing that will cause you to have emotional swings potentially now what we want to do is we're just gonna close this out one more thing you can see here is if you want to have this shows where you're buying and selling and what you bought and sell that now if you want that just leave it on there but if you want to take this off this button up here data series you just want to click that and then scroll to the bottom plot executions and then just do you can do markers only if you wanted to see the arrows or you can just do do not plot at all and that'll just take that off your chart completely and then you'll have no clutter at all now to create an actual at-the-money strategy for entering trades we're gonna want to go to just this drop down arrow and then click custom and that's gonna bring up our entry box now first off this order quantity that just gonna be our how many contracts were doing and so let's just say we're gonna do just a one contract one point scalp two points and so that's our usually our default setup so this you can change it but you're gonna want to leave it on ticks and so this is just gonna go off how many ticks and so for our profit we're going for four ticks which is one point and then our stop loss is going to be eight ticks and so that's gonna be two points and then you can save this as template and we can just save this as scalp and then we can just go and click OK and then that's just gonna be right here and then this at the money strategy is gonna dictate what happens when you have one of these buy or sell stops so if I just have a sell stop here and move it to the market to get filled you can see that here is that one point scalp here's that buy limit and then here is that stop-loss and you can easily move these so if this was our trade we'd want to put our stop loss you know above a resistance level and then we'd always want to be going for that scalp you don't want to be moving your scalp around you always want to be going for that one point no matter what but you know here you can easily move these around which is very helpful now if we want to just set up a runner we can go and make another one we can go to custom and then let's go with four contracts for this one so we're going to have three this scalp and then for that do a runner so this is going to give we're gonna have to have two targets for this so we're going to want to add as the row here and then we're going to change this quantity so we're gonna have the quantity for our first one which is going to be our scalp we're gonna have that three our stop loss is going to be eight and then our profit is going to be four and then we want to make the runner stop-loss to be the same and then the profit for that be we can just say 36 or something because we want the runner target to be a lot higher up and then so we can do save template and then we can just do scalp plus runner for this setup and so we can just click OK and then if I just click buy market you can see here is that setup so right now that scalp already got filled and then now we have a runner up here that is now going and you can see our stop is really up here and we want it to be high up just in case the market decides to take off and fill that scalp quickly and then so with the scalp we want to move it up to break-even I'm sorry with the runner once that scalp gets filled so and then this runner now is basically kind of just we're gonna see it's free money at this point right and then with this runner you can move this stop up as the market continues to climb higher and you can move the sell limit higher as well as these market starts moving closer and closer so let's say we're in this trade and we want to enter we see another scalp right and so one thing we need to do is the system right now is going to actually change or it's going to just add right onto your runner so we want to go over here to add the money strategy and go to properties and so we want to this setting right here we want to change it to keep at the money strategy template and then click apply and so what that's going to do is we want to buy into the market again and so what it's going to do is it's gonna refresh back to this so if I just click in buy market right it's gonna keep these order templates separate and so we would now have this scalp here and then also this runner and so that is one setting you want to do is because otherwise it's going to collect select one of these so these are your current open strategies or trades and it's gonna go in and if you click bot market it would add right on to those so you can see now this is the scalp has seven contracts and that's not what you want to be doing you want to be having it be its own trade and so you can then move you know manage it as its own trade instead of managing it as one now the entry here it is going to move up to essentially what your averages and so you might be up on one trade and down on another and so it won't necessarily say you're correct profit for one of the trades so that's just one thing to keep in mind so if we just close these out that is pretty much how you set up the at the money strategy now one thing is you can do I don't necessarily suggest doing this but for those of you who want to you can actually have your runner go to Auto break even so what we do here is under the order template we just go to custom under the stop strategy and then it brings up another setting here and so what you want to do is you want to have this be go to Auto break even right but we want it to be Auto break even and so what that means is that stop will you know immediately go to our entry and then the runner will have if it comes back and hits us we won't lose money on that runner well it'll only go break-even and so what we do here is we just add this to five ticks and so the reason why you do five ticks not four is because the market can sometimes hit four ticks and not actually fill your scalp trait and you only want this runner stopped to move up once your order or your scalp order gets filled but one thing to keep in mind with that is because it has to wait for five ticks if the market hits that four tick and fills your scalp and then proceeds to sell off that runner that's auto stop is not going to move up so that is one reason why I suggest not necessarily doing this because in those times where that it hits you exactly to the tick and fills your scalp then sells off that runner is not going to auto break-even and so just to give you a quick example here if we just click buy market again this runner is now what if we hit our scalp here this runner is going to get auto we're gonna close out on our scalp stop and then once it hits to five ticks this runner is gonna hit Auto break-even so hopefully there's our scalp and you can see here now that's sitting at four ticks that stop didn't move up because it had to go to five ticks so if the market sold off there it would have actually come and hit our stop without automatically moving up to break-even but you can see once it hit that five ticks it hit that auto break-even and then we're good to go from there but so that's just one thing to caution and keep in mind with that auto stop strategy and so maybe you want to just manually do it all the time so one thing I want to quickly show is let's say your chart is zoomed out and it's all wonky right and so to get back to the current price action hat and have it kind of fixed on your chart and locked so it will always stay in the chart is there's these two buttons up here you have this F that will lock it to the chart and then this arrow that will scroll you to the most current bar and so that's how you kind of get in and stay with the price action and then the chart will update and keep the price action with the chart at all times when you have those clicked and then to zoom in you just want to click and drag the x-axis down here if you just move the chart you can actually break out of that function and so here you're going to set just have to click that arrow back but it won't kind of break you out of that locked in feature if you want to break out of that locked in feature you're gonna have to use left ctrl and then move the chart around that way and then again easy to get back like this so hopefully this is all really helpful in setting up an account now in terms of strategy a course will be posted really soon so definitely check out the description below for that and of course when it comes to trading and trying a new strategy just like this one I would highly suggest always is using a demo account because you know if going into any new strategy if you have not mastered it you're probably going to lose money without practicing it first so always practice practice practice that's the most important thing when coming along with a new trading strategy if you have any questions with the ninja trader account setup or anything in general feel free to comment below or reach out to me personally and I will always be happy to answer your questions

Channel: Riley Coleman

Views: 145,840

Keywords: ninjatrader, day trading, ninjatrader 8, how to use ninjatrader 8, how to use ninjatrader, ninjatrader demo account, ninjatrader chart setup, day trading setup, ninjatrader day trading setup, day trading on ninjatrader, day trading chart setup, chart setup ninjatrader, how to set up ninjatrader demo account

Id: XY-FGiKM0y8

Length: 28min 38sec (1718 seconds)

Published: Wed Mar 04 2020