Online Stock Trading Software
Online Stock Trading Software
I am going to discuss in a series of blog postings and articles about the subject of online stock trading software. What is day trading software or stock trading software and what does it do for you? Well, there are several different categories and many providers of software…..let’s start with what the 5 major online brokerage firms offer.
Most of the brokerage firms provide their trading software to their customers for no charge if they have certain amount of assets, balances or incur a minimum number of transactions that are done in a time period, usually 30 trades per calendar quarter.
Charles Schwab is the largest of the online brokerage firms and their trading platform is called Schwab StreetSmart Pro (Schwab Online Stock Trading Software). I have used this trading software for years and their latest upgrade continues to improve their platform. They recently added tic charts, which means that the stock charts can show every trade of a stock as well as other time sequences (1 min, 2, 3, 5, Daily, and so on). Schwab, as well as most other firms now has a strategy tester, using previous stock history as well as a screener and scanner. Their strategy tester is weak and difficult to understand but Schwab StreetSmart Pro is one of my favorite stock charting for real-time intraday charts..
One of the most important aspects of any trading platform is the charting system. You want to have many technical indicators (also known as studies), programmable time sequences, easy to change colors, and sizes. Every trading platform has its advantages and disadvantages. You will have to weigh all factors such as the brokerage firm’s execution and reporting speed, commissions, customer service, features of the trading software and any other benefits of that package and firm. Tomorrow I’ll talk about other features of a trading platform as well as other firm’s stock trading software that I’ve used or tested.
To be continued . . . .
Mitch King
www.TradeStocksAmerica.com