Day Trading Software – Selecting and Using
Day Trading Software That Meets Your Needs
Day trading does not just happen automatically in that you just turn on a computer and wait for the money to start rolling in. It is an endeavor that requires discipline, education, an understanding of markets and trends, technology, and effective tools. Day trading software is the toolbox that traders need to apply their discipline, education, and understanding. Technology is simply the backbone that facilitates the use of that software regardless of the platform chosen for day trading activities.
For day trading to be a successful activity for both beginning traders and experienced investors it’s necessary to have tools at their fingertips that incorporate certain features:
- Ease of use – if you don’t understand the software you won’t be able to use it to your advantage. Learn at least the basics of the software through tutorials, manuals, training, videos, and support contacts before you utilize the software for you first trade. You can grow into the more advanced features of the software as you gain experience and familiarity with the tools.
- Cost – what is your cost for acquiring and using the software? Some may be provided by your online broker at no cost while other robust systems may require a monthly or use-base fee. Be sure you understand what you’re paying for, and that the features align with your cost.
- Platform – online brokers provide day trading software on multiple platforms. Picking the one that meets your intentions for trading to maximize your use of the application. If most of your trading activity will be done on an iOS smartphone don’t focus on desktop Windows-based software.
- Support – does the software vendor or online broker provide online or phone support to help you with questions about the software or to help you with problems?
What are the Specific Functions of Day Trading Software?
Once you have the basic considerations behind you the next step is matching the software to your specific trading goals and strategy. There are multiple internet sites that help you select software features and they are a great way to at least become familiar with the differences between various day trading software tools. Some of the most important software features offered are:
- Multiple platform support – use of tools from your desktop, laptop, or mobile devices
- Charting – there are many charts available for day traders that make monitoring particular stocks or other investments simple and even customizable. Some allow you to select only the financial instruments you want to track and save your settings for quick reference on a regular basis.
- Alerts – set your own alerts to price increases or decreases that allow you to make quick buy and sell moves at the exact time you’ve determined will provide the best opportunities for gains.
- Watch Lists – most day trading software includes setting up lists of stocks that you want to watch more closely than the overall market. These help you identify trends and volatility that you can customize for your specific trade strategy.
- Executing your trades – this should be a quick and easy function that allows you to place your buy and sell orders at precisely the moment you determine will benefit maximize your profits. This is what day trading is all about. If you can’t execute orders swiftly and reliably don’t choose this software or online broker.
Selecting the Best Day Trading Software – SureTrader
SureTrader offers customers the platform and features needed to make your trading sessions profitable.
SureTrader ActiveWeb provides a free web-based trading platform available from any mobile device including smartphones and tablets with any browser. Tools include real-time quotes and news feeds, watch lists, charting, trade execution, and much more.
SureTrader Mobile is the latest platform available for smartphones permitting free access to your SureTrader account with the ability to get quotes and make trades.
SureTrader Desktop is the most robust and sophisticated platform that puts a full-featured level II analytical tool at the fingertips of day traders making it the preferred platform among traders.
SureTrader provides the best array of day trading software and platforms for investing online with advanced software and quick reliable execution of trades. Their award-winning customer service and support are available around the clock to resolve any problems and answer questions.
Contact SureTrader right away to get started investing online with the best in online brokers.
Disclaimer: SureTrader Blog is not intended for U.S. persons. Stock information is not to be viewed as buy or sell recommendations.