Here I would like to provide some stock trading software review for you, my reader. Most of these stock trading software packages I use or I used in the past. Some of them I also reviewed and tested when I was in process of selection of best stock market charting software.
All software packages and products have their pros and cons. You have to define your needs, understand your trading strategies and systems and select an ideal product for you based on these points.
The situation on market with these stock trading software packages is changing constantly. I review stock trading or analysis software from time to time when I find interesting piece of stock market analysis program or trade application .
Do not forget to test these stock market analysis software packages in real trading environment during your stock market trading activities before you start to use it regularly.
Categories of best software for stock trading
There are several different categories that can be used for more detailed specification of online programs for traders. I personally divide this software review into these categories:
- Analysis software
- Trading software
- A market screener
- Realtime quotes and charts providers
- Software for keeping trading journal
A lot of products for traders and investors offer more features and can fall into more than one of the categories in this review. You have to decide what you need and then check several different packages to find the best trade or analysis program for you.
Stock analysis software review
This type of application helps traders to do technical analysis of price charts. Users can apply different technical indicators. A good analysis program should also offer back testing features for testing of (automated) trade systems.
Based on my review I have selected AmiBroker as my main stock technical analysis software. Here is example description how to setup end of day database in Amibroker.
If you want to create database of market tickers in your charting program, then you can use these instructions. Such database can be filled with free historical market data from different sources.
These tips for better stock market charting could improve your chart technical analysis.
It’s also possible to use some Web sites that offer browser-based stock chart analysis.
Stock trading software review
This type of software is provided by the broker. It offers trading functionality like watching real-time quotes, entering orders, managing orders, managing portfolios, managing real-time watch lists and so on.
I personally use or used in the past these stock trading software packages:
- Peak Access – my former broker’s application. I manage orders and my open positions through it.
- Direct access platforms provided by Interactive Brokers and SaxoBank.
- QuoteTracker – this is a very nice free stock trading program.
Here are some important features that should be available in best stock trading programs.
Stock market screener review
This is a very special type of application. It allows you to find stocks that fulfill predefined criteria. It’s a very powerful tool because it helps to speed up the picking process.
AmiBroker has a very nice feature that allows you to define and use a lot of free stock screeners. Here are free screener examples I use for one of my personal trading strategies.
Stock trading journal software
You have to keep a journal of your trades. This journal should provide you a different analysis of your past trades. Regular review of your trades, both profitable and losing trades, should help you to identify what you have to improve in your trading and what can increase profitability of your trading strategies and general trading system.
The ideal option is a specialized software product for keeping a stock trading journal.
Find more on related pages
- Keep reading about simple stock trading