Does anybody use any trading software?

[Buehler445]

I'm looking get a trading/charting program, but don't really know what programs are out there.

Primarily, I want to look at charts and apply different technical indicators and analysis. It'd be best if the charts were printable. I'd also like the capability to do some paper trading.

As far as the type of investing I want to do, I want to buy/sell some commodity contracts as a longer term hedge and do some option work potentially. Pretty low volume, but tracking the positions is pretty important.

I don't do a hell of a lot with stocks, but wouldn't mind tracking some stocks and mutual funds.

Problem is that I don't know much about the programs, and don't know a lot of guys using them. One guy told me TracknTrade is pretty good. Maybe I should use E-Trade but I don't want to sign up for an account just to see if their charting program is any good.

Any help would be appreciated.

TIA

[KC native]

Don't waste your money on those programs.

E-Trade, TD Ameritrade, and Fidelity all have active trader platforms that include all this stuff and it won't cost you any money.

Just open an account, apply for margin and options (lie if you have to to get the approval level you want, they don't verify it. they may ask you some questions to verify you know what you're doing though), and you're good to go. I recommend TD Ameritrade because of their purchase of think or swim and your desire for commodities and options trading.

[alnorth]

Technical analysis, charts, etc do not work. At least not in a vaccuum applied to all stocks where you are not really knowledgable about the companies and are just trying to mechanically follow rules.

Hundreds of trading systems have been academically studied and they do not perform better than what could be expected through random chance.

In the unlikely event that some magic trading rule were discovered that did work, he sure as hell would not tell anyone. As soon as a rule is widely known, it immediately stops working because there would obviously no longer be a market inefficiency to take advantage of. So, anyone purporting to sell such a rule or trading system designed to make money is either ignorant, or a fraud trying to take your money.

You either need to spend far more time than its likely worth each week studying companies, analysis, and financial statements to figure out an active trading move, or you should broadly diversify into hundreds of stocks (probably through ETF's or mutual funds) and rebalance every once in a while.

[Buehler445]

Originally Posted by alnorth

Technical analysis, charts, etc do not work. At least not in a vaccuum applied to all stocks where you are not really knowledgable about the companies and are just trying to mechanically follow rules.

Hundreds of trading systems have been academically studied and they do not perform better than what could be expected through random chance.

In the unlikely event that some magic trading rule were discovered that did work, he sure as hell would not tell anyone. As soon as a rule is widely known, it immediately stops working because there would obviously no longer be a market inefficiency to take advantage of. So, anyone purporting to sell such a rule or trading system designed to make money is either ignorant, or a fraud trying to take your money.

You either need to spend far more time than its likely worth each week studying companies, analysis, and financial statements to figure out an active trading move, or you should broadly diversify into hundreds of stocks (probably through ETF's or mutual funds) and rebalance every once in a while.

I'm not going to trade stocks. Mainly to trade the commodity markets.

[Stewie]

Trading or investing? I would say you're not a trader and will get burned. If you own a commodity as a farmer that's fine, hedge your bets. A true trader has to meet strict guidelines.

[Buehler445]

Originally Posted by Stewie

Trading or investing? I would say you're not a trader and will get burned. If you own a commodity as a farmer that's fine, hedge your bets. A true trader has to meet strict guidelines.

It's weird for a farmer. I have to study the markets pretty hard to make any kind of informed marketing decision. At this point, I'm a marketer.

[nstygma]

i like their software: http://www.openecry.com/
http://www.ninjatrader.com/ is another i haven't tried but heard good things

[alnorth]

Originally Posted by Buehler445

It's weird for a farmer. I have to study the markets pretty hard to make any kind of informed marketing decision. At this point, I'm a marketer.

Oh, I didn't realize what you were doing. If you are a farmer, then making a few strategic commodity bets can be a shrewd way to hedge.