Comparing TradeStation vs NinjaTrader vs TradersPost
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TradeStation, NinjaTrader, and TradersPost are all popular platforms among active traders and investors looking to improve their trading strategy and execution. All three platforms offer advanced automation capabilities, but they differ in terms of their focus and target audience.
TradeStation vs NinjaTrader vs TradersPost
TradeStation
TradeStation is a brokerage and trading platform that is suitable for a wide range of markets and asset classes like stocks, futures and options. It is known for its powerful charting and analysis tools, as well as its customizable trading strategies and advanced order management features.
Pros
- Comprehensive platform suitable for a wide range of markets and asset classes like stocks, futures and options
- Powerful charting and analysis tools
- Customizable trading strategies and advanced order management features
- Offers educational resources and support to help traders of all levels succeed in the markets
Cons
- Trade automation uses proprietary EasyLanguage for building strategies
- Cannot take advantage of TradingView community scripts
- Cannot integrate with external systems with custom code
- Automated trading strategies require your computer to be online
NinjaTrader
NinjaTrader is a powerful trading platform that is often used for day trading. It provides advanced charting and analysis tools and includes features such as real-time market data, multiple order types, and strategy automation.
Pros
- Advanced charting and analysis tools
- Real-time market data and multiple order types
- Strategy automation capabilities
- Available as a free download with the option to purchase a license for additional features and services
Cons
- Trade automation uses proprietary system for building strategies
- Cannot take advantage of TradingView community scripts
- Cannot integrate with external systems with custom code
- Automated trading strategies require your computer to be online
TradersPost
TradersPost is a cloud-based platform that allows users to automate their trading strategies and execute trades without the need for their computer to be running. It has the ability to connect to popular brokers like TD Ameritrade and TradeStation. Strategies from popular trading platforms such as TradingView and TrendSpider can be automated with TradersPost. It allows users to automate their trading strategies using simple webhooks rather than requiring low-level coding skills.
Pros
- Allows strategies to be automated without the need to write any code
- Cloud-based platform allows for trade execution without the need for the computer to be running
- Connects to popular trading platforms such as TradingView and TrendSpider
- Allows for automation of trading strategies using simple webhooks
- Accessible and user-friendly platform
Cons
- Not as comprehensive as integrating directly with brokers using low level code
- Execution speed may not be as fast as colocated code running a low level programming language