November 9, 2006
FAQ: Best Analytical Investment Charting Program?
"Can you reccommend a mature and proven analytical tool which includes:
- Live realtime and historical charting
- Scanning
- Streaming news
and is moderately priced."
Thank you,
Mike
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Hi Mike,
I am not sure of your definition of "moderately priced" but I will try and point you in the right direction.
In the past I have used programs that have cost $250 - $400 per month so to me moderately priced is under $150 per month.
I have looked at dozens of software programs over the past 16 years and my favorite is still "Trade Station". http://www.tradestation.com/
As far as price goes it costs about $200/month if you do not have a brokerage account with them. If however you open an forex, futures, equities or options account then it will only be $100/month plus exchange fees.
The nice thing is that if you are an active trader they will waive the monthly platform fee.
The thing I like best is that the software has been around since the early 90's so it is a proven product. I also like that it is fully integrated with their brokerage firm.
Another highly popular charting package is "E-Signal". http://www.esignal.com/
It has also been around along time and proven itself to be a great package. I have used this for about a year, but keep coming back to Trade Station. Not necessarily because it is any better, but it is just more comfortable to use. It kind of feels like my favorite old pair of shoes.
Before you commit to any program I would reccommend trying a 30 day demo on each. Really test drive each program and see what is best for you. Make sure it is easy and intuitive to use for you. Your charting software is the most important tool in trading(next to your brain) so make sure it fits your trading requirements.
One last point… I have yet to see a perfect trading platform. My dream software would probably consist of combining the best features of Trade Station and E-Signal.
Hope this helps…
Peace & Prosperity!
Filed under Blog, Frequently Asked Trading Questions by Jeffrey Wilde


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