My goal for this page on stock day trading software is to introduce beginner traders to various types of software, that he or she may need for their day trading business now or in the future.
Visitors that come to this website have various levels of experience, so as in other parts of this site, some sections may or may not apply to your own situation.
For instance, the first category “Free Trading Software”; this is strictly for beginners that maybe don’t even have a trading account yet, but need to learn about charts, indicators and technical analysis, or screening stocks for free.
Some of you might be wondering what the difference is between web-based software and desktop software. Web-based software does not require a download to your computer’s hardrive. It is located on the company’s or broker’s servers. One of the advantages of this kind of software is it allows you to log on to your account and make trades from any where in the world.
This type of browser-based software tends to simple and easy to use. However, most professional day traders do not use web-based programs. They use desktop-based software that requires a download to your hardrive. Desktop-based programs are usually far more complex and have many more features for the trading professional.
Newbies might at first be overwhelmed by the complexity of some day trading software platforms or charting programs, but as they learn more about trading, they will find they need some of these additional features. Some you will find you cannot do without.
It is not my intention here to describe or review every day trading software on the market. Compared to when I first started trading, there is really quite a large selection now.
What I’m presenting here is a selection of the some of best day trading software broken down into different categories, so that you can do further research and decide which ones are appropriate for your individual situation. The software that I describe and/or give links to, are either software that I have personally used or have determined to be the best / top rated trading software — or at the very least, very popular with other traders.
After having spent many years using trading or stock market analysis programs and spending much time (probably too much) in trading related forums, I have a good feel for what most retail, home based traders are using, and whether or not the software is worth your time to look at.
So, if I don’t have personal experience with a particular day trading software, I can assure you that I have read enough positive reviews from other traders to warrant writing about it here. One thing you’ll find after doing your own research on day trading software, just like with any other product or service, no particular software is going to fit every traders needs. And, no software will be liked by every trader.
There will always be traders displeased with a certain aspect of any software. It all comes down to choosing the best trading software for your own needs, and to do that, especially as you become more experienced, may require you to demo or use the software for a period of time to see if it’s a good fit. There’s been times when I’ve experimented with different trading programs or platforms and because of one particular quirky thing about it, I just refused to use it anymore.
So, the best advice I can give you, is to try as many different programs as required until you have a good fit.
There are some software for day trading that do a good job of being a ‘one stop shop’ for everything from supplying data, to charting to back testing and automated trading, but you might find that you have to look further to fit your own individual requirements.
Only you can determine what those requirements are. Then do your own trading software comparison.
I’ve divided the software and companies into the following categories and some of them will naturally fall into more than one:
- Free Trading Software
- Charting Software
- Day Trading Platforms
- Stock Scanners
- Share Trading Software (Volume Analysis)
- Stock Analysis Software
- Backtesting and Automated Trading Software
- Market Data Feeds