Any Internet search for charting software will produce about a million results, if not more – so how do you choose what to use for your trading information? Some of the results are predictable, such as the ubiquitous MetaStock, and this program has certainly carved a niche for itself in the marketplace, largely now sustained by its extensive user base. However, it’s easy for a company to rest on its laurels, and the true measure of the best trading platform has to include its features and its feel – is this something that you could look at most of the trading day?

When you choose your charting software, you will in many cases be able to download a demonstration program which you can use to see how it feels. Certainly, given the prices that some of these programs can run, you will want some way of using it before committing the cost. However, when you consider the amount that you place at risk in trades, the software is really not an expensive part of your budget, and you should be prepared to get the one that is right for you.

The features that you need to look at include the ease of use and flexibility, and how easy it is to set up to the configuration that you prefer. Some software is limited in the number of indicators that are provided pre-programmed, and some software features a whole new programming language that you can use to create indicators of your own invention.  If you are serious about your trading, you will probably find the generic software that your broker provides is not sufficient for your needs, even though it suits the occasional investor.

If you take a look at eSignal, you may be hard pressed to think of something that they have not included. They have live news and ticker feeds, a choice of preset layouts depending on your style of trading, and direct connection to your broker so that you can trade directly from the software. eSignal has received a number of awards this year, including first place in the real time data category for reader’s choice awards in the magazine Technical Analysis Of Stocks And Commodities. The leading trading community web site Trade2Win, or T2W, also recognized it with gold medals from the reader’s choice, and it is well worth a look.

Another charting software application, although to call it such does not acknowledge the extent of the facilities available, that you should try out is TradeStation, which boasts it is the leader in rule-based trading. This application has been around for many years, and has received an appropriate number of accolades. In March, Barron’s survey gave it a top rating based on technology, usability, research, portfolio analysis and other factors. TradeStation allows you to backtest virtually an infinite array of buy and sell rules, and even includes the ability to fully automate your trading according to your system, sending orders to the market automatically. It truly has all the power that you could ever need when trading in virtually any market.