What Is The Best Software For Analizing Stocks?
Posted by benny in FreeWare on November 27th, 2009 | 3 responses
I am fixing to be in the market again and I think I would like to have good resources before I begin. Any ideas on this? I heard market data manager is really good, but I want other opinions.
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3 Responses to “What Is The Best Software For Analizing Stocks?”
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By analyzing you mean technical analysis? Metastock and Tradestation are supposed to be the best, but expensive.
I use Stockwiz for French stocks and end-of-day trading. It’s completely programmable, which is what I wanted, but the programming language is …. primitive.
But it’s free.http://www.stockwiz.com/
That’s you’re problem right there… “Analizing” sounds painful. I certainly understand you being more cautious these days. “Analyzing” can sometimes prevent the “analizing”, but not always. There are many unexpected factors that effect stock prices and the market as a whole that are almost completely unpredictable.
You don’t say whether you are fundamental or technical.
If you are looking for a trading platform and charting software, one of the best I’ve found is RealTick through TerraNovaOnline.
Whether you are trading stocks, commodities, futures, options, or all of these, TerraNova is the only one that you can trade everything, real time, online, direct access. A lot of online brokerages claim to give you direct access, but if they take more than a second to execute your trade, it ain’t direct.
Find the articles online that have evaluated and compared online brokerages. I found a good one online in Barron’s, but you’ll find others in the trading magazines.
This is worth putting a little time and effort into, because it’s a pain to switch, so once you choose, you’re kinda stuck with it.
Townsend Electronics, the Parent company of TerraNova, is the one that digitized and electronified the Nasdaq. They are technological industry leaders and have a powerful and well built trading system.
I use RealTick at TerraNovaOnline, but it costs $275/mo. I think the Investor package is free to use, and just uses one screen.
What you should try is a free trial of their Investor platform, which is free. You only get one window to trade from. Their rates are good also, but of course, it depends on how often you trade. It will take you months to learn all the bells and whistles of what this program can do.
The other top-of-the line program is TradeStation, but it costs big bucks to join and operate. Some people consider it the Cadillac of trading and technical analysis.
TerraNova is the home of the Day Trader, so they think nothing of you making several hundred trades a day. You don’t have to do that, but it’s okay here if you do.