Just a note. The software(execution & charting) used by professional traders and firms, depends on the trading that the firm does. There is really no "best charting" package or "best"
execution system. A direct access system rated best by BARONs , may not be the best for your individual needs.
Some of my picks for stocktraders:
All in one system that includes charting & is accessed
through the internet for home use - REAL Tick III
Professional Tradestation for daytraders- AT Financial( charting) and REDI+ for order execution or Reuters BridgeStation( Charting) and REDI+( order execution). If used at home , DSL or cable modem for internet. 256 meg RAM
required for two software packages on one computer. (My choice)
Order execution only software(no charts)-ROX by LEK & Co. Custom Basket trading screen. Access to ECN's and regional markets and the ability to connect to any MM directly. For
floor Market Makers & hedge funds only. This software is similiar
to IB's, but offers alot more for true professional traders.
Other quality charting & filtering software used by Daytraders include ILX, First Alert ,E-Signal & Stormtracker. Bloomberg
is a great system for Hedge Funds, Mutual Funds and trading desks- the costs of a Bloomberg terminal($1200+ month) is out
of the range of most independent traders and does not offer
news any faster than Dow Jones or Reuters. The Bloomberg
terminal is an amazing tool, but it's really not for home use. There
are many other quality software packages out there.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
execution system. A direct access system rated best by BARONs , may not be the best for your individual needs.
Some of my picks for stocktraders:
All in one system that includes charting & is accessed
through the internet for home use - REAL Tick III
Professional Tradestation for daytraders- AT Financial( charting) and REDI+ for order execution or Reuters BridgeStation( Charting) and REDI+( order execution). If used at home , DSL or cable modem for internet. 256 meg RAM
required for two software packages on one computer. (My choice)
Order execution only software(no charts)-ROX by LEK & Co. Custom Basket trading screen. Access to ECN's and regional markets and the ability to connect to any MM directly. For
floor Market Makers & hedge funds only. This software is similiar
to IB's, but offers alot more for true professional traders.
Other quality charting & filtering software used by Daytraders include ILX, First Alert ,E-Signal & Stormtracker. Bloomberg
is a great system for Hedge Funds, Mutual Funds and trading desks- the costs of a Bloomberg terminal($1200+ month) is out
of the range of most independent traders and does not offer
news any faster than Dow Jones or Reuters. The Bloomberg
terminal is an amazing tool, but it's really not for home use. There
are many other quality software packages out there.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net