Last updated: 20240328
Global Trading Tools FAQ
Answers to some commonly asked questions about Global Trading Tools indicators, products and policies.
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⭐ How to create a NinjaTrader user-defined machine ID?
A user-defined machine ID is different to the standard NinjaTrader machine ID.
All Global Trading Tools indicators require you to supply a user-defined machine ID created as follows:
- Go to the NinjaTrader Control Center window, Help > "3rd party licensing…" menu
- Enter GlobalTradingTools (with no spaces) into the "Vendor Name" field
- Input any identifying suffix to append to your machine ID into the "User defined ID" field. (you can choose any letters or numbers you like in this field, but please don't use any spaces or special characters)
- Copy and email us the newly generated machine ID (not a screenshot) after pressing the "Submit" button
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⭐ How does your perpetual indicator license work?
The perpetual license offered with some of our indicators means you pay for the license upfront, and you have the right to use the software indefinitely (subject to our licensing terms and conditions).
This license also includes 1 year of support and updates, after which time your software will continue to function however, if you wish to receive any support, maintenance (including changes to your user-defined machine IDs used to activate the indicators) or updates, then a yearly maintenance plan (an additional 1 year of support, maintenance and updates) can be purchased with an 80% discount off the current listed price of the indicator.
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⭐ Which trading platform do your indicators support?
Our indicators are currently only available for the NinjaTrader trading platform.
We are considering adding support for the TradingView platform in 2024; however, it is not currently available. Sorry.
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⭐ Do your indicators work in NinjaTrader 8
Yes, all Global Trading Tools indicators currently available for purchase support both NinjaTrader version 7 and version 8 (you receive an indicator for each version of NinjaTrader with every purchase).
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⭐ What currency are your prices quoted in?
All prices on the Global Trading Tools website are listed in United States Dollars (USD).
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⭐ What are your payment options?
We exclusively use PayPal for the following reasons:
- PayPal is a fast, secure way to pay online, without the hassle of converting currency first;
- PayPal is available in more than 200 countries/regions and supports 25 currencies; and
- PayPal offers Buyer Protection on eligible purchases to give you added piece of mind (however we do everything in our power to ensure you don't need to use it).
Online Trading FAQ
Answers to some commonly asked trading questions, including software, trading tools & education for traders.
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💡 How to start trading?
If you are just starting out in the financial markets, the first consideration is to determine exactly what you are looking to achieve, your risk tolerance, the time you have available to dedicate to trading (and learning the skills required) and the style of trading you are most comfortable with.
What you are looking to achieve from trading is to define if you are simply looking for better ways to enter and exit investments, or are you looking to actively trade your current portfolio, up to are you looking to supplement or replace your current income by trading.
Your risk tolerance is crucial to understand as if you are risk-adverse compared to risk-tolerant. Risk is inherent in any investment and life for that matter. However, there are many levels of risk and in trading the saying "high risk, high reward" can often be true. When there is high risk the potential for a negative outcome is increased. Some people are ok with this, others are not but you must understand where you are in this category. Even "lower" risk trades can easily go against you so no matter what your risk tolerance is, you should never trade with money you can't afford to lose!
The time you have available to dedicate to trading will impact whether you can consider day trading or if you are limited for time then it may be more applicable to consider swing trading over multiple weeks or even long-term trades that may run for months or even years.
The style of trading relates to either Technical analysis or Fundamental analysis (or a mix of both) to analyse the markets.
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💡 What are Financial market trading tools?
Financial market trading tools are software applications, platforms, or technologies used by traders and investors to facilitate decision-making processes, execute trades, manage investment portfolios, and conduct technical analysis in financial markets. These tools provide a variety of features such as real-time market data, charting tools, news feeds, and customizable indicators that help users analyse market trends and make informed trading decisions.
The world of financial trading has been greatly transformed by the advent of these tools. They have brought about a level of efficiency and speed that was not previously possible in manual trading. These tools can range from simple price alerts to complex trading systems.
Different types of trading tools include but are not limited to:
Charting Tools: These help traders visualise market activity and identify trends using various types of charts like candlestick, bar, and line charts.
Technical Analysis Tools: These generally use historical market data to identify repeating patterns that may be used to predict future price movements. Technical indicators fall into this category.
Fundamental Analysis Tools: These help traders evaluate a company's intrinsic value by examining related economic and financial factors.
Trading Platforms: Electronic trading platforms are software applications that allow traders to place trades, monitor accounts, and access real-time or delayed market data.
Risk Management Tools: These help traders manage their risk by setting stop-loss orders, calculating potential losses, and monitoring market volatility.
Trading Journal Software: Track your trading activity and performance by recording and reviewing your trades. This will help you learn from both wins and losses. Monitoring progress helps identify errors made while opening or closing a position.
Social Trading Tools: These allow traders to follow and copy the trades of experienced investors.
Backtesting Tools: These allow traders to test their trading strategies against historical market data to evaluate their effectiveness before applying them in real markets.
These trading tools are designed to assist both novice and professional traders in navigating the often complex world of financial markets. However, online trading (especially when trading a Derivative financial instrument) contains substantial risk and is not for every investor. Only risk money you can afford to lose and please remember that past performance is not necessarily indicative of future results.
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💡 Are there any free charting platforms?
Yes, there are several quality charting platforms/trading platforms that have a free plan option.
NinjaTrader and TradingView both have a free plan in addition to their paid plans.