By Gerald L. Kaes
Buy new: $79.95
Customer Rating:
First tagged "software" by ZHONG QING "Defy God's Will"
Customer tags: process simulation, software
A charting software for traders must tick several boxes. Your choice for charting software is vital to the success of your trading system. A well-designed trading system is useless without the right charting software tools to implement it. However, choosing a charting package, or deciding whether to use one at all, can be very confusing for a newbie trader. This is especially true when you consider that there are literally hundreds of software packages available to assist traders.
You don't need to spend thousands of dollars paying for good, reliable charting software. Often the price is inflated to capitalise on the belief that the more expensive the software, the better. In truth, most charting packages perform very similar functions and a charting package under $1000 will perform just about all of the tasks required by even the most advanced traders.
When choosing your charting software, here are six things you really need to look for:
1. Longevity. Look for a package that's stood the test of time. There are plenty of packages on the market, but some of them are here today, gone tomorrow. There's nothing worse than taking the time to learn a new piece of software only to find it's no longer supported, since the company that developed it has gone down the corporate drain.
2. Large user base. Choosing a package that has a large, established user base and is supported by well-attended forums will mean that if and when you need help, there will be plenty of support channels available to you (outside the developers themselves). What's more, there are great new discoveries made by the community that the developers may have never even thought of.
3. Flexibility. Your package should have plenty of flexibility for coding so you can easily define your entry and exit criteria. Avoid packages that are so pre-programmed that you really don't have any control over what they do.
4. Market scanning ability. A good charting software package will have the ability to quickly and accurately scan the market for securities exhibiting criteria you define.
5. Back testing facility. Choose a package that has a back testing facility within the charting package itself, or one that is at least compatible with a well-established back testing package (further discussed in chapter 9).
6. Independent data plans. Beware of software packages that force you to use their data. They may be offering you the software cheaply - or even free - but then they tie you into their (often expensive) data plans. It's best to find a charting package that has third party independent data plans.
And finally, if you're still having trouble selecting between a few different packages be sure to ask about trial versions. It's a great way to see if the package is right for you.
Discover The Complete Guide To Trade Systems
http://www.ultimate-trading-systems.com
cheap software computer windows vista business spanish full version dvdcheap software computer mcafee virusscan v80 mini box vsf80emb1raa
cheap software computer microsoft windows 2000 professional upgrade w encryption coded software
No comments:
Post a Comment