What is the best trading software for beginners?

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Stock trading software is either a downloadable or web-based platform that lets you connect to the stock market.

Although there are some third-party trading software companies, using these platforms typically requires a monthly subscription in the range of $150. In our opinion, paying for trading software is not worth it as a retail trader.

When you open an online brokerage account, you’ll typically have to fill out a questionnaire that asks if you are a professional trader. If you are, you’ll have to pay extra for market data and platforms.

This is because the exchanges figured out they could make more money from “professional subscribers” who trade full-time.Even if you’re a very active retail trader, it’s smarter to take advantage of the non-professional status and a few hundred dollars per month.

It goes without saying that this is not an ideal situation. Good trading software needs to be fast and easy to access, especially for beginners.

This situation underscores the importance of key features of the best stock trading software for beginners: free, quick, easy, and capable.

In most industries in business, buying better products equates to better results. This is somewhat true with the markets and investing, but only to a certain degree.

If the stock trading software that you’re using works, and you can place trades, monitor your positions, search for new trade ideas, etc.

here are plenty of companies out there waiting to charge you $100+ per month to use their trading software that they say will give you an “edge” in the market. Truth be told, this is highly unlikely, especially for beginners.

When we tested Ally’s software, anytime we had a question about how to place a specific order type or how to use a specific tool, like the options analysis tool, we easily connected to customer service via live chat.

When thinking about the essential day trading software tools that you need to succeed at, or any trading for that matter, never skimp on quality. Always invest in the highest quality tools that you can afford for your trading business.

Depending on your trading system, you may need top of the line trading charts, fast order entry system, or something as simple as a news feed.

We consider Tradestation to be the best charting platform available. They are a full service charting, data and broker service appropriate for all types of trading; futures, Forex, equities, options, day trading, swing trading and longer term position trading.

In fact, their charting is what the developers at NetPicks use to create their long running successful trading strategies. Because of our long term relationship with them, we can often get our members excellent deals on their award winning software including FREE use of their charting platform and impressive commission rebates.

Trading is too serious and the consequences of your actions are too important. It is not possible to win every trade but when using the best day trading software like Tradestation along with a winning strategy like the Counterpunchtrader, you can be assured that you will be putting the odds in your favor on every trade.