The barrier to entry has genuinely never been lower to get into trading. A lot of people think that when they are new, they need to drop hundreds per month on various tools and software programs, but that just isn’t the case.
Yes, paid programs do have benefits and advantages over the free programs mentioned in this blog. The free ones won’t be as good as the ones that cost money. You can always upgrade as you gain consistency and profitability. But, if you are a new trader, these free programs are a perfect starting point for your career!
So without further ado, let’s dive into our favorite FREE trading programs and software programs!
TradingView.com – Charting
Tradingview started as a small company over a decade ago and now has totally bloomed into an absolute juggernaut in the industry. Yes, they do have a paid version, but the free version of TradingView will give you fantastic charting capabilities across multiple different asset classes and markets.
The free version even allows you to add simple indicators and plot lines to your charts. There are even some additional features such as an economic calendar, top gainers, community chats, and streams. We also use this for crypto as well, since it pulls data from multiple exchanges.
Overall, if you are new to trading and are looking for a very solid free charting platform, Tradingview has you covered. Check out our YouTube video at the bottom of the blog for a full tutorial on how to use TradingView.
Find out more at: www.tradingview.com
Benzinga – Pre-Market Movers Scans
In trading, it is super important to follow momentum, and trade what is “moving”. We do that by trading and focusing on pre-market gainers and losers every day. A quick and easy way to find out what is moving on the day is to look at Benzinga’s pre-market mover list. It is a continuously updating webpage every morning, that also includes key news headlines for each mover that you should be reviewing.
Bookmark this webpage here: https://www.benzinga.com/premarket/
Finviz – Scanning & Idea Generation
Just like TradingView, Finviz.com is another absolute juggernaut in terms of free software programs that give traders a huge edge and a ton of information.
Finviz is a web-based platform, that allows users to create custom scans for stocks to generate targeted watchlists, shows the performance of various commodities and futures indices, has a news scanner, highlights upcoming earnings, insider trading moves, and more.
Finviz also allows you to search for the top-performing stocks over any given period of time, from the current day, to the past year. This is a super powerful free software that many professional traders still use to this day to run overnight scans, generate trading ideas, research stocks, and create watchlists.
You can check out Finviz here at: www.finviz.com
Can Free Trading Tools Really Make You a Profitable Trader?
This has to be the question on your mind now. You’ve got some free trading tools to use under your belt. Do full-time professional traders really use these? Of course not. They use paid tools which are better and more efficient in every way. But these are great for using when you’re starting out, and you are on a budget.
This video will give you more insight into how to use free trading tools effectively, and give you some tutorials on how to use them:
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