Most new traders out there want to spend the least amount of money possible on trading related expenses. They want free scanners, free charting software, free education, and commission-free trading.
You don't need to go crazy with expenses, and don’t need to be spending more than $400 per month on software. But it is a necessary investment if you want to increase the odds of you becoming a successful and self-sufficient trader. Trading for a living is the same as running a business. And as a business owner, you cannot be afraid to invest in tools that are conducive to your business’s success.
I’ve found investing in charting software has made my life a lot easier. For some traders (myself included), the charting layout is very important to their trading. You can get by with some free charting software, but they don't suit most full-time active traders. Today we will talk about the best charting platforms to use for 2019.
Worden's TC2000 program is my go to charting platform of choice. I've been using it for the majority of my trading career. It's visually uncluttered and has a host of options for customization. One of its best features is its ability to have multiple layouts. I have layouts for my day trading setup, swing trades, and market indices. The ability to make watchlists and scans is very easy and you can use the spacebar to flip through charts. Here’s a screenshot of what the platform looks like:
You can go through 1000 charts in 20-30 minutes on their platform, as you can just use the spacebar to quickly navigate through charts. This is crucial to train your eyes to recognize patterns quickly, and shorten your trading learning curve. I'm not a huge believer in spending money on a lot of trading tools. But I do believe every trader should have 1 good charting platform where they can quickly look at charts and find stocks. You can get TC2000 gold and live data for $45, which is everything you need for active trading.
If you are interested in trying out TC2000, check out the platform here.
Esignal is one of the oldest charting software on the market. They are one of the first companies to offer tools to retail traders, back when it was uncommon for retail traders to have access to trading tools. Today they are one of the leading charting platforms for retail traders. The platform has incredible chart layouts, great scanning and trading tools, trading capabilities with brokers, and every indicator you can think of. Here’s a screenshot of their platform:
They also have 24/7 support available for their platform Monday-Friday. The only real downside to Esignal is there pricing. You can get the classic plan for $47 a month, but this only has 15-minute delayed intra-day quotes. The plan you need for active intraday and swing traders is their signature plan, and it costs $152 a month. It is an all inclusive plan, with level 2 and time and sales, real-time quotes for stocks, futures, options, and forex, and trading scanners.
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