Software / Set-UP

Can everyone tell me the software they use: charting, alerts, companies like ESignal, ect. 

Do you use multiple screens? I'm trying to better my set-up ; ) 

Reply: Cashsits:  depending on your bankroll and skill there are a lot fo ways you can do this.  Lot of professional traders use telechart, esignal, ninja trader.  These are great tools but not neccesary unless your controlling a million bucks or a professional daytrader.

 

I use 1 screen. 1 desktop computer. 1 laptop for backup or travel.  The desktop has 1 monitor and its a p.o.s. and super slow. got 512mb of RAM, and probably a processor made in Namibia.

 

My setup is through a desktop software called quotetracker: It is free for ameritrade customers.  It costs 12bucks a month for everyone else.  I like it because it has live charting, alerts, customizable watchlists, built in stockscreeners, imbedded research.  it also enables you to connects and trade from the same platform and watchlists, multiple brokers.  So off this 1desktop software I can trade my ameritrade, interactive brokers, mbtrading, scottrade accounts.

 

Simple stuff you dont need much!

Reply:  I use OX (optionsxpress) free live streaming charts, watchlists, tools, alerts

I have tried esignal, ninjatrader and all the others...I go right back to OX. Simpler is better for me as I maintain many accounts and positions. I don't need the noise.

I use 2 laptops  (1 if on the road)  --on busy days, I may use multi-monitors.

Hi,

I've been using E*TRADE Pro which is free for frequent traders and it seems to be quite a complete platform.  Its a proper App and you can drag the window across multiple screens and place what ever you want on each screen.  It has four virtual screens that you can instantly switch between. So I have one for entering Trades and watching my portfolio when I'm day trading and I can click over to one that tracks the market; top10 volume and such like.  The platform has built in research, full charting, news, level II market depth, realtime alerts, etc.

 

I do have three screens, but I normally only run the Pro trading platform across one. I use the second for web research, BOWS website, email, Twitter, etc. I use the third screen to watch CNBC using the plus.cnbc.com service on a monthly subscription. (I know Erin talks to Mark about his fishy sandwiches, but its background noise and she is very cute...)

 

In extended hours I sometimes load up the E*Trade MarketTrader platform on the second screen since it allows EH orders to be placed directly rather than through the website.  They let you run both platforms at the same time for no extra cost. It is also a proper windows application and very functional.  You can also run a very nifty trading app on your iPhone or Blackberry (not on the Storm) for those panic moments.

 

Although you can trade almost anything on E*TRADE (I think?) sometimes you have more trouble getting short positions than I think is true of other platforms.

 

I've promised myself two more screens if I ever make any real money! LOL...

 

Zippy

Does anyone use bac? 30 free trades a month. 25k in savings/checking to qualify plus additional funds to trade. Are they any good?

Reply: Thats pretty good if you an investor or a trendtrader and dont make too many trades.  The big question is how much do they charge after the 30 in case you go over. If you dont go over then your good to go.  Also you want to check the offerings, what type of stocks can you trade.Are there restrictions, margin rates, hidden fees.  But ive never heard of anybody using them as most people on twitter use deep discount brokers since we are all addled with ADD and need to trade everyday!

 

Zecco also offers freetrades if you have 25k and they have a fantastic reputation along with 5 dollars for additional trades!

Reply: Hey! Yes,  I use BAC with 4 accounts (intermed to long-term trades) 30 free trades per social security number so  I use Scot (husband) and daughter on 3 accounts.  Essentially, I have 120 free trades per month between the 4 accounts.

 

I do not recommend them for day trades as their platform is not set-up for it --I've tried believe me!

 

I still use OX for all my tools (live streaming) for free -none of their tools. They are set-up for investors -not traders.

 

 

I'm currently using Schwab and the StreetSmartPro software.  It's decent, has all the basics, but could use a facelift.

However I'm tired of paying $7.95 a trade (used to have them free, but they caught me!).  So now thinking of moving to Interactive Brokers - seems commission rates are decent, but their software looks just ok.  Maybe will look for another trading platform but use IB as the broker for the rates.  Will check out the ones you all listed above.

 

Thanks