Talking about trading on a big screen, we all are familiar with trading software. There are some of the rumors that day trading is as good as his charting software. But it is a basic issue to be debated at. It is so true that a key part of a trader’s job-like radiologist’s-involves interpreting data on a screen. In fact, as we all know that day trading would not exist without market software and electronic trading platform.
A number of software applications are available on the internet. Mostly broker offers software for trading, armed with various trades, research, to the trader when they open a brokerage account.
Moving to the basic purpose of it, much software is free of cost. Some of them are over costly, as a premium package’, claiming that it is having “THE BEST STOCK CHARTS”, or they are the best trading platform of all. You may say that there is a better stock chart or best stock screener software. Trading features’, market and personal preferences are in a variety of ways. But now we are going to discuss a few of them over other software features. Whether their usefulness justifies their values is your call.
One the most commonly used stock trading software offering 300 different technical applications, METASTOCK built-in drawing tools like FIBONACCI RETRACEMENT to describe technical indicators, integrated news, fundamental data with screening and filtering criteria, and global markets coverage across multiple values: equities, derivatives, FOREX, futures, and commodities. Both Meta Stock daily charts and Meta Stock Real Time packages include its highly praised stocks charts software.
TC2000 offers a good solution if you are interested in U.S and CANADIAN stocks and funds. Featuring includes STOCK CHARTS, WATCH LIST, ALERTS, INSTANT MESSAGING, NEWS, SCANNING, and SORTING. If offers easy-to-use trading setup, data coverage, adding more than 70 technical indicators with 10 different drawing tools, and backtesting function on historical data. It somewhat offers automated trading tools, and value classes are limited to stocks, funds, and ETFs.
Another famous stock trading system allows research capabilities, the eSignal trading tool has a variety of things depending upon the package. Covering around the globe multiple value classes, adding stocks, funds, bonds, derivatives, and FOREX. Signal scoring high on trade management interface with news and different figures coverage, and it’s stock charts software allows for a lot of customization.
It is a type of software that, compatible with more than 1000 apps and add-on products. Software system providing proper entrance and execution. It is the most commonly used research and trading platform. It is specifically connected to futures and FOREX traders. It also offers a usual trade simulator, which enables risk-free trading to take a further step towards the future. Apart from the technical indicators (100+), charting, research tools offered by them. NINJA trader is away from advanced charting, backtesting, and trade simulation. The free version of the platform is also present for live trading, though commissions drop once a user pays a license fee.
WAVE59 PR02 offers high-end functionality, including, “ HIGH TECHNOLOGY ARTIFICIAL INTELLIGENCE MODULE, MARKET ASTROPHYSICS, SYSTEM TESTING, INTEGRATED ORDER EXECUTION, PATTERN BUILDING AND MATCHING, AND NEUTRAL NETWORKS,” to quote the website.
Equity Feed Workstation:
One of the basic prominent aspects to equity feed workstation is a stock hunting tool called “ FILTER BUILDER”- which make a high number of filtering way that enable traders to scan and select stocks per their desired parameter; advocates claim it’s best to stock screening software around. LEVEL2 market is also there and coverage includes OTC and PINKSHEEET MARKETS.
PROFIT SOURCE claims to have an edge with complex technical indicators, especially ELLIOT wave analysis and backtesting functionality over 40+ automated technical indicators built-in. On a global level, it assets class coverage spans across equities, FOREX, options, futures, and funds.
VECTORVEST is one of the intercontinental crowds. With trading platforms and analytical software that gathers different geographic regions (for the U.S, AUSTRALIA, CANADA, SINGAPORE, EUROPE, HONG KONG, INDIA, AND SOUTH AFRICA). It covers major stocks and funds all around. It offers coverage for common technical indicators.
For the traders who are looking forward to charting software, INO MARKETCLUB offers technical indicators, trend lines, quantitative analysis tools, and filtering functionality.
The Bottom Line:
These software-based best fitting traders go beyond free trading platforms, You can usually test-drive for nothing; Mostly market software companies often no-cost trial periods, sometimes for as long as five weeks. Traders, who are putting steps forward, a select software application that has a good reputation with required basic functionality at a nominal cost.
Ending up about the best trading software for technical analysis, you can now confidentially say that they are few of the software used by the traders. They help a lot to figure out the difficulties.