http://www.netpicks.com/tjgiveaway1 - YOUR FREE TRADING SYSTEM As a day trader, you understand how important your trading software is. This is not the time to cut corners since day trading software that doesn’t work and is flawed, can cost you money. Technology has afforded us the best of the best however with that comes confusion. There are so many choices for your software if you day trade including: Market Screeners – Automated scans through all your favorite markets to find opportunity Trading Strategy Builders – Used to test your trading systems to see if they hold potential Auto Traders – Software that will automatically place your trades according to set parameters High End Day Trading Platforms – The cream of the crop when it comes to your charting platforms http://www.netpicks.com/top-3-choices-day-trading-software/ - READ MORE

1. Top 3 Choices Of Day Trading Software
http://www.netpicks.com/top-3-choices-day-trading-software/

2. As a day trader, you understand how
important your trading software is.
This is not the time to cut corners
since day trading software that doesn't
work and is flawed, can cost you
money.

3. Technology has afforded us the best of
the best however with that comes
confusion. There are so many choices
for your software if you day trade
including:

4. Market Screeners - Automated scans
through all your favorite markets to
find opportunity
Trading Strategy Builders - Used to test
your trading systems to see if they
hold potential

5. Auto Traders - Software that will
automatically place your trades
according to set parameters
High End Day Trading Platforms - The
cream of the crop when it comes to
your charting platforms

6. The question is what do you require
for your trading business?
Everyone that is day trading for a living
will have similar needs depending on
many variables including the types of
markets they trade.

7. There will be those traders who need
the basics and on the flip side, those
that need everything that vendors
provide. Some traders are minimalists
and others need everything they can
get their hands on.

8. People that day trade stocks for
example may choose to utilize online
stock screeners such as as Vinviz to
sort through hundreds of stocks that
fit their trading criteria. The amount
of time this can save is beyond
measure.

9. Forex traders may be able to get by
with a simple charting package and
order entry system if they focus on
only the major currency pairs. It only
takes a few minutes to scan through
the major currencies to see if they fit
your trading criteria.

10. I am going to cover three important
items that I find important for my own
short term trading and while they may
not be the best trading software
available, they suit my needs and the
needs of many traders I know.

11. There is a multitude of charting
packages available from free to paid
trading platforms. For my money, I like
Ninja Trader as my choice of best
charting software.
(I am testing Sierra charts and am liking those)

12. There are different options for your
day trading data including broker
supplied and the Ninja Trader
recommended Kinetick.

13. The standard for trading has been bars
however a simple click of your mouse
on Ninja Trader will give you time bars,
tick, volume and renko. I have always
found the charts easy to use and have
had zero issues with them during my
personal trading.

14. Ninja trader boasts 1000's of add-on's
plus most trading indicators you could
ever use. This makes it great as
technical analysis day trading
software. As well, easy import of
custom indicators for those with a
much more personal trading system.

15. This software also boasts:
Strategy analyzer - Backtest your
trading strategy through historical
trading data to see if you have an edge
with your trading plan.

16. Market analyzer - One screen can hold
all the instruments you may be
interested in for day trading and allows
you to rank and sort with various
criteria

17. Trade performance - Probably one of
my favorite features of this charting
software. Historical and real time
tracking of your trading performance

18. There are other day trading charts
available such as Tradestation charting
, Metatrader and the Think or Swim
charting package but for me, hands
down is Ninja Trader.

19. You can enter your orders directly
through your broker interface however
I enjoy "one stop shopping" and use
the on-chart trading feature offered
through Ninja Trader.on chart day
trading software.

20. This is not an endorsement of NT
however it is what I use and only want
to give a breakdown of items I have
first hand trading knowledge with.

21. You are able to enter trades by either
clicking on the screen or utilizing this
fly out menu on the chart itself. As you
can see, it is pretty straight forward
and you can also program auto trade
management (ATM) which will have
preset targets, stops and even trailing
stops as soon as you enter the trade.

22. This is a huge time saver and ensures
that you have placed the very
important stop-loss as soon as the
trade has been entered.

23. Entry, targets, and stop lines appears
right after you enter the trade
according to your trade plan. I like this
as I can adjust a stop quickly around
important areas without taking too
much time locating the price and then
entering the new stop/order position
in my broker platform.

24. Trade Analyzer Software
Your rear view mirror is important so
you don't get surprised from behind.

25. Think of this software as a rear view of
your trading which should alert you to
problems that may lie ahead with your
current style and habits of trading.

26. It's one thing to see your P&L today but in
the grand scheme of things, are you getting
closer to your goal or slowly bleeding your
account dry?
This is why one of the most important
pieces of trading software for day traders
and traders in general, is a program to
analyze your historical efforts.

27. I think all successful day traders are
extremely aware of their results which
enables them to tweak their plans
before they get too far behind. The
ability to compare different variables
to find the most profitable times, days
and setups can't be overstated if long
term success in trading is your goal.

28. So important is this type of program that I
want to introduce you to the free version
of the Ultimate Trade Analyzer.
You can download it and own it for free
without ever worrying about it expiring.

29. http://ultimatetradeanalyzer.com/simple-download/

30. Here are some of the features you can
get started using right now:
Important Trade Statistics like Profit
Factor, Expectancy, Expectation, and
more.

31. Summary Studies of your trade data so
you can see stats on specific variables
of your trades.
Learn the best time to quit trading
each day with the "Power of Quitting"
Analysis tool

32. While this list of my favorite day
trading software was originally for
short term traders, they are also valid
for those who much prefer
swing/position styles of trading.

33. This list is by no means complete
however even the best day traders like
to keep things simple and that includes
the software and programs they use in
their trading.

34. As well, mentioned earlier was the fact
the technology keeps changing and
that includes new software that is
being released.

35. It's very easy to stress over which
software to use and this is not a good
use of your time. Keep things simple
and basic until your experience shows
that change is needed.

36. For starters, I would focus on the
following three trading software items:
Quality charting package with a
data feed that is proven to be reliable.
You want to ensure you are getting up
to the minute price information
especially since you are day trading.

37. An easy way to enter/adjust your
orders. You don't want to be making
errors when entering your trades so it
is important that you know the order
entry system inside out.

38. Quality analytical software to see if
your edge is truly an edge. I can't
stress enough that you must know, on
a grand scale, how your trading is
progressing. This is the only way you
can fix trading problems before they
end up costing you your trading
account.

39. This does not have to be expensive
however the adage, "you get what you
pay for" comes to mind especially
when looking into charting and order
entry systems.

40. Day trading software is going to be one
of the most important aspects of your
trading career and it makes sense that
you get the best for what you can
afford.