Last updated on May 12th, 2020
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.
Here is a short list of what we believe to be the best day trading software out there today.
Some are actually free. Some require a minimal investment.
Just remember that if you are a day trader, you are actually an entrepreneur and are in the business of running your day trading business. As such, you have to make the kinds of decisions that put you on the best foundation for success. Make sure you have the best day trading software as part of your business tool kit.
Top Choices Of Day Trading Chart Software
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.
Contact us directly for more details.
Ninja Trader is a great alternative to Tradestation. Their charting and order entry platforms are also excellent. They are not brokers but you can plug their software into many different brokers, including Interactive Brokers, AMP Futures and FXCM, to name just a few.
Free charting? If you don’t mind the ads, Tradingview covers most markets and even includes alerts in the free version of their charts.
Top Choice For Trading System
High Velocity Wave Trader is Netpicks’ premier trading strategy that was designed to work on both the Tradestation and Ninja Trader charting platforms. It only makes sense that we have this as our prime trading system software.
It is a complete strategy that leaves nothing to guesswork, as far as how and when to place your trades.
It literally shows you right on the chart:
- where to get in
- where to set your targets
- where to set your stop loss.
Once you’re in the trade, it shows you exactly how to manage your position for maximum profits and minimal risk. It seeks to keep you in the trade while controlling risk, bar by bar.
Ultimately, it provides a trader with a visual structure, right on the chart, clearly showing where to place the trade.
The structure on the chart displays the entire strategy and eliminated all the guesswork as to when to take a trade, what direction to trade in, where to exit, etc. Notice how perfectly placed the targets were.
Imagine looking at the price bar at the right edge of the chart with NO indication as to what to do and then imagine a trade setting up like this one, where all the answers are provided in real time.
If You Need Quality Day Trading Software – Don’t Skimp
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 HVWT, you can be assured that you will be putting the odds in your favor on every trade.
AS long as you are a responsible trader using appropriate risk levels and following a trade plan like the one show above, you will be in the best position to succeed with your trading business. Just make sure the day trading software you are using fits your needs.