Free Trading Software
Free Trading Software, that's right, free -- Would you like to learn about price charts for trading, indicators and technical analysis but don't want to spend any money yet on software or services?
If you're brand new to the business of day trading stocks, know very little about charts, technical analysis, indicators, etc. ... and you don't even know what kind of software will fit your needs. Don't go online and spend money until you have a better feel for what you actually need.
Why not use some free software or web-based programs while learning the basics? You are not going to just jump in and start trading. Or, at least you shouldn't.
Save your money until you know more...a lot more and then move on to more advanced software that can fill all your requirements.
If you're new to this, believe me, it's going to take you a while to figure out exactly what you need to get the job done.
On this page I've put together some of the best free trading software resources for you with a brief description of each.
If it's a free trading software resource, but requires some kind of add-on fee to get the "full benefit", I'll try to be clear about that.
For instance, if the website or program allows free daily charts and indicators, but requires you to pay for intraday charts, I'll let you know.
If in the future I find anymore free software for traders, that I think is worthy of your attention, I'll post it here.
I really like the business model that NinjaTrader (below) uses, in the way they allow you to use a full featured product without paying for it, until you decide to use it for real trading. I think this is a great way for new traders to accelerate their learning curve. It's also very smart of them to market their software this way, since you will be more likely to use a product that you are already used to. Maybe more trading software vendors will market their products like this in the future.
Here's a list of Free Trading Software for you to check out:
You can use this free charting software and technical analysis program for as long as you want, as long as you don't mind the ads at the top of the page. It allows you 2 days of intraday charts and 6 months of historical charts. However, you will have to pay a fee to a data provider (i.e. IQFeed) for real-time quotes and data.
This is a all-in-one type program that will do just about everything.....charting, technical analysis, trade management, scanning, backtesting, automated trading, etc. You have to purchase or lease this software when doing live trading, but the full featured version can be used for free as a trading simulator with downloaded data or their simulated data, which would enable you to learn quite a bit about trade management, indicators, order entry and much more.
These are good looking, user friendly charts, but you only get daily or weekly charts for free and they are small. To get larger intraday charts, you're going to have to pay a small monthly fee. They also have a free stock screener, with pre-set scans that you can try out and maybe get some ideas out of.
If all you need for now is an intraday/daily charting program with some indicators, this free trading software is hard to beat. This one is web-based with some pretty decent looking charts and even has real-time quotes. Good enough to put on my website. I would look at this as a good, free learning tool for a beginner. You can learn charting basics and technical analysis, but I would certainly choose other programs for active day trading.
Would you like to experiment with a free stock screener that allows you to write custom-made scans? This free program is really slick. If you want to get the most out of it you have to pay a small monthly charge, but you're not actively trading yet, you can use it do things like, find inside bars on a daily chart from the previous day, that have a price above 10. A beginner can get a feel for what custom stock scanning is all about, and if more power and flexibility is later required, I'll be going over other software in other sections that can be utilized.
This free stock screener will keep you busy for a long time trying out it's many filters. It can filter stocks using fundamentals, technicals, patterns, signals in so many ways....and it's all free to use.