What is trading software?

Quote from igor043:

Investors use fundamental analysis to trade. Traders often use technicals. As as trader, it's good to know all the options available to help you select stocks, and knowing when to get in and out. Your brokerage should have software package and information on its meaning. Important to read books on technicals - look at this website, or Amazon.com, or local bookstore. Then try to backtest strategies you feel comfortable with. Then paper trade. Finally, if it looks successful, place trades slowly and smally quantities, and study results. Your trading style appears to be swing or position trading. Basic technicals will help you. For me, I wouldn't know how to trade without technicals.
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Hi igor, Thank you for your advice. I checked out the books in BAMM. All technical analysis books are overwelming. I decided to buy "A Beginners guide for Short term trading by Toni turner". Let me start with this book. I am putting off the decision to buy any software as of now.
 
Quote from RapidFireFX:

What are you trading? My guess is stocks, if so you will have a hard time without some professional help and some good old fashioned education.

Start with reading a few suggested books, stay away from 2am infomercials (red light green light crap) and failsafe ways to trade from your bedroom in your slippers netting 100%+ a week.

Good hunting...
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Thanks for your suggestion. Yes, I am trading stocks and ETFs.
 
What a bunch of garbage!

If you made any serious money trading you wouldn't be wasting time writing 1000 words per post. Sure seems like you're selling something.

I wonder what it is? Oh do tell us, master.



Quote from jack hershey:

Once he PC was invented several other trading and investing aids came ino being.

Before PC, It was a grind to pull down 10% a trade every few days on each stream of capital running.

Now with the PC, two main streams of consideration emerge:

!. receiving and transmitting data and

2. processing data.

So far the financial idustry is way behind compared to the needs. Nevertheless, you can use whayt is available to achieve two things:

1. Cutting personal work down, and

2. Conveniently storing your work.

Your situation is typical of a person with money in the markets and no way to utilize the porential the PC offers these days.


The best way for you to drop into the scene is via yor broker's spport capabilities. Once you have down the ways in which you can complete your Findamental Analysis from that support, you can go on to see what you want to do to increase your performance with other typical support.

Graphics will be a consideration.

So will analysis techniques.

Your decision making can become well organized through spread sheets and having your business plan stated and updated on the PC.

Sub routines like your trading plans, logs and results can fit into your business plan as a dynamic.

I have found that the whole process for maiking money can be done in steps each taking but milliseconds nowadays.

If you go the route of optimizing making money, you will find normal trading cycles come down to several days for extracting the cyclic potential of price movement.

There are many leading indicators of price so that makes the monitoring a flag onted style either on an after hours or real times basis.

Once you have the flag, you can do the analysis and decision making.

Most platforms these days are about the same. The two parts are: monitoring and trading. Your broker has both to start. Where the broker ens, the commercial platforms overlap and begin.

In two or three years I feel that platforms will have testing and analysis capabilities that are average. What they have now is more sales tool oriented than performance orientaed.

I use 4 different ones plus coding to take care of their shortcomings. Your year is a week for me.

For monitoring I would go for 5 degrees of freedom.

You can use the standard fomulations for these degrees of freedom to get stanadard analysis done and displayed.

So far there are not many web sites that have any analysis examples that demonstrate much in skill applications.

To carve a path through all of this, make a list of questions that are rational and that are stepping off points from your current method. Go for waves of 25 qestions at each wave. You will quickly rise through several doublings of performance in a short while. Most people can double their performance form any starting point about 8 times.
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What a bunch of garbage!

If you made any serious money trading you wouldn't be wasting time writing 1000 words per post. Sure seems like you're selling something.

I wonder what it is? Oh do tell us, master.
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Take it easy dude! He has nothing to sell, he gives!! Learn to differentiate!!!
 
Quote from risktaker:

What a bunch of garbage!

If you made any serious money trading you wouldn't be wasting time writing 1000 words per post. Sure seems like you're selling something.

I wonder what it is? Oh do tell us, master.
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that applies to you too, If you made any serious money trading you wouldn't be wasting time writing posts here.

;-)
 
Quote from vguy:

What do I expect from any software?

I am small time trader who does on average 2-3 trades in a month. My goal is to make 15%-18% annually. I am not able achieve with what I am doing now.

How will the software beneficial to somebody like me?
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I use software to back test my trading methods and learn if the idea is profitable.

Software allows me to compare different trading methods. I prefer some methods over others.

I believe software helps me avoid losses. The cost of software is less than one big loss. I think software is worthwhile.
 
Quote from vguy:

What is Flomax? Is it a trading software?
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lol... FLOMAX is a drug to help you pee (it's for men who have enlarged prostate glands!). Gotta love ET for throwing a curveball to a serious punter asking a serious question.:D
 
I'm not going to go into what trading software is - there are already plenty of posts here. What's important is that you have a strategy and methodology to apply to whatever software you choose. Software isn't a magic bullet. For each person that uses a software package, there is a different method.

I'd encourage you to learn as much as you can - read, talk to successful traders, etc. - and you'll eventually find a methodology that's right for you - your personality, timeframe and time commitment. Software's just a tool. You have to make the decisions.

Pete
 
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