Best for Beginners

B

brad1970

Can someone please recommend the best software package for a beginner trader. Not so much a beginner, I have been in the market, as an analyst, for the past 7 years, but I am currently looking to set up a "trading desk" at home.

Holding time frame is few days to few weeks. I have looked at MetaStock, Tradestation, ESignal, etc.

It seems I have over analyzed the situation and I am looking for some help.

Additionally, once a package has been selected, which data provider would be the best to supplement the recommended software.

Tx.

Brad
 
brad,

tough question, kind of like "what's the best car?" It all depends on what you plan to use it for, which markets you follow, how important such things as news, charting, ability to write custom indicators or functions, ability to backtest, built-in trading systems or ability to design a system, scanning capability, realtime or end of day and of course, what you are willing to spend. Also, do you have an interest in things such as Elliot wave, gann or options analytics. Do you need a platform with built-in trading capabilities like RealTick or are you just looking for quotes/charts/indicators?

Having said all that, I use QCharts and like it. I also use Quotes Plus for end of day scanning.
 
Originally posted by AAAintheBeltway
brad,

tough question, kind of like "what's the best car?" It all depends on what you plan to use it for, which markets you follow, how important such things as news, charting, ability to write custom indicators or functions, ability to backtest, built-in trading systems or ability to design a system, scanning capability, realtime or end of day and of course, what you are willing to spend. Also, do you have an interest in things such as Elliot wave, gann or options analytics. Do you need a platform with built-in trading capabilities like RealTick or are you just looking for quotes/charts/indicators?
More...

Thanks for the input. For a little more clarification I have listed the specs. that I need...

Custom Indicators/functions
Backtesting
Ability to design a system
Scanning
Realtime and/or EOD - must have breakdown to min. 15 min. bars
Elliot Wave - desired not necessary

Thanks,

Brad
 
Originally posted by AAAintheBeltway
brad,

...

Having said all that, I use QCharts and like it. I also use Quotes Plus for end of day scanning.
More...

AAA,

I am looking for a good EOD scanning tool. Where can I find info about Quotesplus?
 
Originally posted by brad1970


Thanks for the input. For a little more clarification I have listed the specs. that I need...

Custom Indicators/functions
Backtesting
Ability to design a system
Scanning
Realtime and/or EOD - must have breakdown to min. 15 min. bars
Elliot Wave - desired not necessary

Thanks,

Brad
More...

www.wealth-lab.com
 
Originally posted by brad1970


Thanks for the input. For a little more clarification I have listed the specs. that I need...

Custom Indicators/functions
Backtesting
Ability to design a system
Scanning
Realtime and/or EOD - must have breakdown to min. 15 min. bars
Elliot Wave - desired not necessary

Thanks,

Brad
More...

OK, that limits it considerably, as most of the popular online data services do not have that kind of capabilities. Go to the software section of this site, and have a look at Advanced GET, Investor R/T, Neoticker and StockWatch Pro, in addition to the ones you're looking at already. You might check out www.neuroshell.com and www.wealth-lab.com as well for systems development. One approach to consider is to use something like WealthLab to develop a system, then use a cheaper online service to trade it.

I used TradeStation for years for commodity trading and systems testing and liked it, but I dumped it when their 2000i product turned out to be so unstable and crappy it was unuseable for me. I have a bad taste in my mouth about their company but others use the current product and like it.

There have been threads on this site about some of these products, in particular StockWatch Pro. Use the search feature and you can review what others have said.
 
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