From sim to live: a safe checklist

You've backtested a strategy and watched it on sim. Before real money is involved, work through this checklist. None of it is complicated, but skipping any of it is how automated trading goes wrong.

Before you go live

• Forward-test on sim with live data. Run it on Sim101 for at least a few weeks of real sessions. Backtests can't show you everything, like how it behaves on news days or when data is messy.
• Compare sim to the backtest. Are trades happening when you expected, with similar results? If sim looks very different, find out why before going further.
• Know your worst case. Look at the max drawdown from your backtest and assume live could be worse. Make sure that amount wouldn't hurt you.
• Check your broker's rules. Know the margin required for the contract you'll trade. If you trade a prop-firm account, check its rules on automated trading, daily loss limits and drawdown.

When you switch to live

• Start with one contract, and consider micros. Micro futures like MES and MGC are one tenth the size of their full-size versions (ES and GC), so mistakes cost much less while you build confidence.
• Change the Account setting deliberately. It's the one setting that moves a strategy from pretend to real. Check it twice.
• Start flat. Make sure the account has no open position, and keep the strategy's start behavior set to wait until flat.
• Keep your computer awake and online. The strategy only runs while NinjaTrader Desktop is open and connected. Turn off sleep during trading hours, and consider what happens if your internet drops.

While it's running

• Watch the first several sessions closely. Keep the chart and the Output window open and check that every entry and exit makes sense.
• Know how to stop it fast. Practice on sim: disable the strategy, then close any open position by hand. You want to be able to do both without thinking.
• Set your own daily limit. Decide in advance how much you're willing to lose in a day, and stop if you hit it, whatever the strategy is doing.
• Keep a log. Note any change you make to settings and why. It makes problems far easier to find.

You've finished Start here

You now know how to install NinjaTrader, load and run a strategy, backtest it, and move to live carefully. When you're ready for your first strategy, HerAlgoORB is designed to work exactly this way, and The Flow has weekly tips to help you get more from it.