How to properly use the NinjaTrader 8 to NinjaTrader 8 replicator
Before installing the NinjaTrader 8 to NinjaTrader 8 copier, it is essential to read this article to ensure a smooth experience.
In this article
🔄 Two operating modes: Full Version and Market Edition
The copier includes two modes:
- Full Version (enabled by default)
- Market Edition (requires manual configuration, explained in the setup video)
🚀 FULL or NORMAL Version
This mode copies all trades from the master account using the original way in which they are executed. That is, if you execute a market order, it copies at market. On the other hand, if you execute a limit order, it executes a limit order. This is the behavior any trader would expect from the copier and, for that reason, it is known as the FULL or NORMAL version.
🔍 What does this imply?
Because this version will also copy limit orders, you need to understand that limit orders depend on the availability of a counterparty in the market. If there is not enough liquidity when the price touches the order, orders may not be filled for some accounts, which is a limitation of the market itself and not of the copier.
For most strategies this problem is NOT common, so we recommend that you always start using the copier with the FULL version, but if you notice that your way of trading is sensitive to these types of scenarios in which the counterparty has an effect, then we recommend switching to the Market Edition version.
It is advisable to use the FULL version first, since it is HIGHLY UNLIKELY that the strategy you use will have recurring problems with counterparties in the market.
👁️ FREE Account Monitor
To make monitoring easier with the FULL version, we have included a free account monitor. This central panel allows you to monitor all your accounts in real time, close trades, and enable or disable copying when you need to. It will even generate alerts if there has been any issue. This way, if an account does not enter or exit a trade, you can detect it immediately and act quickly.
⚙️ Solution to counterparty problems: Market Edition
If, after trying the FULL version, you realize that your strategy has recurring problems with market counterparties, which is uncommon, then consider switching to the Market Edition version.
This version automatically converts limit orders into market orders for the slave accounts, avoiding counterparty problems and ensuring execution 100% of the time. You can continue trading in the master account with limit or market orders without problems; the transformation will occur only for the slave accounts.
❗ Important: Use the Market Edition version only when absolutely necessary, since market orders may generate greater slippage in execution.
If your strategy works well with the normal version, there is no need to make the change.
🤖 Which one should you choose?
- Full Version: If you seek greater accuracy and prefer to control each trade, this mode is for you. Just remember to monitor the accounts to ensure that orders are executed correctly.
- Market Edition: If, after trying the FULL version, you notice problems with counterparties for limit orders, then this version is recommended.
