'Best' intraday charting software

[RazzaDazzla]

Looking to get into some trading.

What's the 'best' intraday charting program to get into? Names I've heard of include; Metastock, Fcharts, stockeasy, Ezycharts, Insight trader, MAUS stockmarket plus.

I know I can get historical data for free (float.com.au) but I then assume I need a live data provider to have live price data. Can anyone recomend a provider?

What do the 'big boys' use?

How much would I be up for for program and live (second by second) data?

Cheers
Ryan

 

[Timmy]

Investor R/T does it for me.
Plenty of great ones out of the States; Ensign, Ninja Trader, another two that are highly thought of.

Live data feeds - depends on what market you are trading.

 

[RazzaDazzla]

Live data,

what I want to trade, undecided at the moment, but say; ASX using ET Options, ASX CFDs, Futures (SPI 200), and perhaps Minis.

 

[Timmy]

If you want to use some of the charting programs I mentioned on the products you have nominated then I think you may be limited to an eSignal data feed. (Reuters and Bloomberg also, provided you can make do with only one arm and leg).

Hopefully others can offer alternatives (competition being a good thing).

 

[tech/a]

I use Tradeguider.
Around $2300 now I think
Esignal is the data feed.

Depends on what you want to do?
Make up pretty charts with lots of lines
or Trade.

 

[CanOz]

I use Tradeguider.
Around $2300 now I think
Esignal is the data feed.

Depends on what you want to do?
Make up pretty charts with lots of lines
or Trade.

I don't think I'd go with TG just starting out. I'd rather put the extra money into learning more of the basics and purchase a cheaper charting tool.

Also, i would recommend EOD trading as a start too. Intra day trading should come after learning EOD. Speed kills in my view, and Intraday can be pretty quick at times. Don't you think its better to learn to manage trades in EOD first Tech?

Nothing against TG EOD or RT, i just think that for the money, there is plenty of educational material, subscriptions or courses available that would be of more benefit initially.

Cheers,


CanOz

 

[RazzaDazzla]

You are prob right re. doing some end of day trading first.

I've got a copy of metastock End of day, so i'll just populate that with data from float.com.au then update on a daily basis. Then i won't need a live data supplier will I?

then, the only question is (as per my other thread) what product to start trading.ASX CFDs, options, minis...??

 

[tech/a]

With so many questions,so many threads ---- it is pretty obvious you have money burning a hole in your pocket---the Lure of a $$ has certainly got you all perked up.

Id back up and test your theories,much less expensive and you may last alittle longer in this field.

 

[BentRod]

For a cheaper start, the best bet would be to forget ASX altogether.

Trade Forex/US/Gold etc instead......all the data is FREE and LIVE with Metatrader which is offered through a number of brokers.

Another option is an account with IB and use Ninja Trader.
IB will also plugin to Amibroker live for free.

 

[BentRod]

Also, i would recommend EOD trading as a start too

I disagree Can.

I learnt more about controlling risk in 6 months trading Forex intraday than I did trading Stocks for 2 years with EOD data.

The sheer amount of trades intraday speeds the learning curve right up.

 

[CanOz]

I disagree Can.

I learnt more about controlling risk in 6 months trading Forex intraday than I did trading Stocks for 2 years with EOD data.

The sheer amount of trades intraday speeds the learning curve right up.

There are some pretty shocking stats on FX Traders (thats why so many brokers), so its safe to safe you were probably on the other side of that trade my friend, and well done if so. Trading FX taught me allot about macro economics, i will say that!

I just think that equities are a slower speed, US for liquidity at the moment though.

Tech has a good point though, get into systems if you have the time Razza, and build up that war chest while you test!

Cheers,


CanOz

 

[BentRod]

Trading FX taught me allot about macro economics

Yeah I bet it taught you a fair bit about Risk/reward ratio too though.:

The point I want to make is, it doesn't have to be expensive to trade intraday which is a MUCH faster way to learn.

 

[RazzaDazzla]

With so many questions,so many threads ---- it is pretty obvious you have money burning a hole in your pocket---the Lure of a $$ has certainly got you all perked up.

Id back up and test your theories,much less expensive and you may last alittle longer in this field.

Tech/a,

Haha, it's not exactly bunring, infact, i don't even think it's defrosted yet!

I have been reading, researching, paper trading, and done my fair share of options trading for a little while now. the options tradig in the past was quite unsuccesful. It was a mix of taking advice directly from my broker and not being disciplined enough to close out losing positions. I feel I have learned a bit form this experience.

I really just want to get 'up and running' and do another fair bit of paper trading and perhaps some small value trades if brokerage permits.

whilst I may be asking a few questions, at least i'm not asking "what's the difference between a stock and a share?" or something like that

But please, if you do have any suggestions, warnings, or I told you so's, please keep them coming my way. I'm not the type to not pay attention.

Cheers
Ryan

 

[RazzaDazzla]

Tech has a good point though, get into systems if you have the time Razza, and build up that war chest while you test!

Cheers,


CanOz

Systems as in trading systems like THT describes on his blog?

I agree, a syste,m is definitely the way to go. My beleief is you won't always pick winners, but you need to make sure you limit your losses on loosing trades and let your winning trades exceed those losses. Assuming I only pick the correct stock 40% of the time, I need to make sure the 60% of the losses are closed down quick smart.

Also, money management will be important. mainly not risking more than 2% of capital (or some similar value) per trade.

 

[Ardyne]

Intraday charting software

I currently have a cfd account with IGMarkets. They have charts there which I ude for some intraday trading. They seem to do the job ok for me but since Ive never used anything else I was wondering how good(accurate etc) they were or should I be using independant software.If so what are some goodies I can look into. ?

thanks in advance

 

[awg]

Live data,

what I want to trade, undecided at the moment, but say; ASX using ET Options, ASX CFDs, Futures (SPI 200), and perhaps Minis.

Have you done the free demo CFD account thingy with the various providers?

All free live data, (but no volume on index futures)
Also not as good as paid for data

have you consistently made a "paper profit" on your demo accounts?

You can maintain a free demo account with some providers, so long as you place at least one live trade per 60 days, so that lets you practice your systems, against various instruments, whilst learning to use the platform, in the demo account indefinitely.