Stock Trading Software

To have a complete stock trading strategy, you first must acquire the correct trading tools, this involves deciding which stock charting software you are going to use and the platform you will use to execute your trades from. The choices involved are to some degree controlled by personal preference. There are many to choose from. Two major considerations should be taken into account though. First, does the stock charting software allow you to create your own indicators? This is very important, as many do not include the indicators you think are necessary to generate profits.  This is especially so as your trading knowledge and strategies grow.  Second, will it search  for chart patterns based upon the criteria you set? After all, once you learn the chart patterns you want to trade, what good will the trading software do if it doesn't have this feature?  It will be impossible to find trades online that you want to enter. 

Some other considerations are cost.  Some stock trading software is actually free.  Some are specialized to a certain type of trading, like swing trading software.  Some are specifically designed for chart pattern recognition, and the list goes on.  With all of the above in mind, here are some stock trading software packages I have reviewed and found to be well equipped depending upon your style of trading;

Available Stock Trading Software

Dynamic Trader
Amibroker
Elliot Wave
Incrediblecharts
MESA
Meta Stock
TC 2000
 

How are you going to monitor your positions and place your trades? Over the phone, computer, PDA? Again, there are choices to be made as to stock trading platform to choose from. One of the nice things about etrade, is that it allows you to conduct your trading activity through all three mediums just mentioned. It is a nice back up if you happen to lose your internet connection at a critical moment, which happens to me occasionally.

Trading Strategy

Of course, all of this software won't bring any profits if you don't have a sound  stock trading strategy