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Get the Information You Need to Evaluate Stock Trading SoftwareIn today's market, investors are wondering if they should even buy stocks and if they could make money. The solution to both is "yes." Stock market trading is a wonderful opportunity now, with prices lower and volatility greater than in many years. Stock trading online never been more popular stock scanners. Automated trading platforms, robotic trading programs, online day trading systems-there are many terms used to spell it out the stock trading systems that can help you to make an investment investment and to grow your money. Review the criteria below and understand your own personal personal preferences by talking with other stock traders. Identify the facts you will need to compare programs. You'll require a good understanding of the automated trading tools' features and costs before you produce a decision. Various kinds of companies offer stock trading advice and stock trading strategies. They run the gamut from educational programs that make an effort to educate you on just how to trade, to a listing of recommended stocks to purchase and sell at certain triggers, to brokerage firm proprietary software, all how you can fully automated robotic software. Prices can vary from tens and thousands of dollars to less than $50 a month for a few auto trading software. With this type of variety, how do you choose? This information will guide you through the features and great things about the programs which can be readily available for online stock trading. We won't discuss trading software for options or Forex trading. Many of the programs are aimed at "day traders," who technically open long positions (buy) or short positions (sell short) and close these positions exactly the same day. Not everyone who uses these programs closes out their positions by the end of the trading day--sometimes they hold their positions for days, weeks or months. We'll call this "active trading." Sometimes this is also referred to as "swing trading." The primary top features of an investment trading program incorporate a data feed for stock quotes and indicators, stock charts or charting convenience of major indicators, current balance and positions and an order entry system. The order entry system should allow stop (loss) orders, stop limit orders and trailing stops. A trailing stop limit is similar to the stop (loss), except its loss will undoubtedly be measured from the stocks highest point achieved. The preferred method is always to keep consitently the trigger prices in stealth mode, not viewable by the market makers, rather than as actual orders. Most automated trading software includes a wristwatch set of the stocks to potentially trade on the basis of the parameters the stock trader has entered. Exchange Traded Funds (ETF's) can engage in an efficient trading strategy. They are mutual funds which can be traded intraday on the stock exchanges, unlike traditional mutual funds which can be a basket of securities priced at the close of the market. Online stock trading systems should also include trading capabilities for ETF's. Other features to consider include safety measures that stock traders might take, such as establishing a profit goal--the minimum price increase a trader would expect an investment to achieve before closing their position. Also highly desirable is an application of profit protection for your investments, that will be the reduced profit goal. After the stock reaches its profit goal and continues to go up, the stock trading software should wait and let the profit increase. If the stock price decreases or pulls back, the online trading program should close the position and lock the profit. This pullback value should not have any effect ahead of the profit goal is reached and is intended to improve stock performance. More sophisticated auto trading programs will even provide the percentage gain from stock trader's entry price, and the trader also can specify a minimum amount in case the percentage gained is too low. Check the Features and Ask Questions Number of Technical Indicators - There are literally a huge selection of indicators that stock traders can use to ascertain which stocks to purchase and sell and when. The most robust programs will offer a huge selection of indicators for technical analysis, such as Bollinger Bands, and some will even include indicators for Candlestick Chart formations. Robotic programs use these indicators to create conditions under which online investing will occur. Complexity - Automated stock trading programs vary greatly in ease of use. Some online stock trading systems do require actual programming expertise. Others are just point and click. Check out the online demo to see that it fits your amount of comfort before creating a commitment. Keep in touch with others who are currently utilizing the auto trading websites and take a look at their online communities for more comments. Number of Long and Short Strategies Per Account - Because of the size of the online trading platform, there may be a limit to the amount of strategies that you'll have loaded on each account. If you intend to run, say two long trading strategies, then you might need two accounts. Also confirm if you have enough memory on your pc for several accounts. Experienced active traders may run several live long and short strategies, whilst having additional accounts for strategies that they are testing in a simulator mode. Find Out How Advanced Your Software Can Be Recommended Additional Features - The very best automated stock trading software will include other functions that active traders will see invaluable once they have begun automated trading. Additional strategy and order entry features include the ability to enhance a situation as an investment rises, or while the stock declines, along with a minimum purchase interval that the stock price should drop before it begins purchasing additional shares. A maximum bid/ask range is likewise helpful, as the size of the spread can directly impact a swing trader's ability to make profitable trades. If there are a huge selection of indicators, as could be the case with robotic traders, see if the definitions of the indicators are readily available. The meaning or formula for indicators may vary from one electronic trading platform to another, so be sure you understand them first. Recommend you have a course that displays current Profit and Loss (P&L) on your own open positions and the status of the rules on your own watch list. Like, if an investment on the watch list hasn't traded, can there be a function where the trader can pull up the rules and indicators to see which one(s) is steering clear of the trade? Some automated stock trading programs visually display the percentage of symbols up and down in each sector from the specified time frame to the current time so you will see how the market is turning. Does the platform include the capacity to block certain symbols from trading? If you're running an extended trading strategy, you won't want to be buying ETF's that short the market. Day traders will need automated trading software that tracks and displays the amount of day trades remaining. Day trading is regulated by the SEC, so it's important to understand if you will undoubtedly be day trading first. Orders in Stealth Mode - A typical feature of several trading software packages is the capacity to enter limit, stop and stop limit orders. Whilst it is essential with an exit strategy from your own positions, telegraphing it to the institutional traders in the proper execution of publicly viewed limits is not. It's a little like poker--whoever could see all the hands has the advantage. Instead, newer programs allow the user to enter these price points in the auto trader system, but trigger a market order once the conditions are met. This really is one advantage of a really robotic stock trading program stock scanners. Automatically Executes Your Trading Strategy Even While You're Away From Your Computer - Hardly any stock market trading systems can actually do this. For those that do, it's done on the basis of the trader selecting technical indicators, comparison operators and numerical inputs which will activate opening, contributing to, or closing stock positions. Essentially, it's a rules driven software system. The trader can choose from a huge selection of historical indicators representing the stocks' previous conditions. The indicators must certanly be updated daily utilizing the latest data. Programs that can trade automatically will be the cream of the online investing software crop. They take the emotion out of investing. Number of years traders report that the simplest strategies, when left to perform on their own for long periods perform best. This program should also have a manual override therefore the stock trader can manually place a trade as well. Specifically ask if the machine has this capability. Many market themselves as "automated trading" but are not truly automated. Capability to Simulate Strategies In Real Time Before Running Live - Most traders would concur that they'd want to "test drive" a system before using it. Some programs allow this through "back-testing," by which this program uses past data to execute the trades and demonstrate what they'd have been. This is not always accurate, as there is much data needed to do a thorough back-test and it's extremely difficult to replicate all the circumstances with only the historical data. Additionally, how the machine performed in a market last month or a year ago doesn't indicate how it will perform in the here and now. There are certainly a few systems that allow the stock trader to simulate strategies, but this is done mostly with paper tickets, rather than through the software package. The very best stock trading software will let you practice stock trading using a live real-time data feed during market hours. This is actually the preferred method, because it gives traders an extremely realistic view of how their trading strategy is performing and the capacity to feel the highs and lows of daily trading without investing real money. If you can simulate trades, you won't have to open a genuine brokerage account before you go "live" with real money. Ask if there is a control how long you are able to run in the simulation mode. Shows You How exactly to Create A Stock Trading Strategy - There ought to be a step-by-step walk through to exhibit novice traders how to make a trading strategy. Is there off-the-shelf strategies which can be readily available for your use? Is there any fees involved or are they offered free of charge? Are you able to modify the off the shelf strategies? Note that firms should not be guaranteeing you a specific return stock scanners. The very best firms could have long and short stock trading strategies offered by no charge and enables the stock trader to generate their own. Some firms will even permit you to copy strategies from a "friends" list. One size does unfit all. If the business doesn't let you know the facts of the strategy or why they selected or recommend a specific stock, then it's not advisable to make use of it. You might overpaying for "proprietary" services and may have the ability to obtain free stock market tips and recommendations online which will perform comparably.