If you’re in the business of day trading, then you probably understand just how important it is to have the right tools to help you maximize your gains and minimize your losses. There are lots of software options on the market that can make your trading more successful, but knowing which one is the right choice for you can be difficult.
When choosing a day trading software package, it’s important to look for one that offers an excellent trading platform with all the tools you need to make the best possible trades. You should be on the lookout for a program that offers access to real-time market information and the option to receive personalized alerts. The best day trading software will also provide access to a variety of markets.
First place goes to eSignal’s day trading software for its excellent charting and analyzing capabilities, unparalleled mobile applications, and flexible pricing structure. This software may be particularly attractive to those already familiar with eSignal’s popular data streaming technology.
Charting/Tools: This software option provides the very best tools available to support day traders with stock charting, analysis, and scanning. All of the eSignal charts are fully customizable and able to support numerous indicators, including accumulation and distribution, MACD, momentum, volume, and many others. In addition to allowing access to the basic eSignal data feed, purchasing eSignal software enables users to access a wide range of more advanced data options.
Resources: This software provides plenty of educational material for your perusal, including seminars, trading education, newsletters, and forums. There is also the option to purchase an additional software product called eSignal Learning to help you advance your knowledge as a day trader.
Help/Support: This software option has lots of options for getting the help you need when you need it. You can contact eSignal via email, telephone, or live chat to get your questions answered by a well-informed representative. Additionally, eSignal comes with training and support built in to its software, so you can search within the program’s browser for troubleshooting advice or quickly brush up on formulas, terms, and symbols.
MultiCharts wins second place for its abundance of tools and charting options and its ability to work with numerous data feed services. This software even allows users to create charts with information from multiple data feeds and can also perform automatic trades with several popular trading platforms. Unlike many of its competitors, MultiCharts offers a range of pricing options, so you can choose the software package that fits your needs as well as your budget.
Charting/Tools: MultiCharts receives rave reviews for its excellent and highly customizable charting capabilities, including 3D charting. This option also offers a wide array of tools to help with drawing, strategizing, backtesting, and managing data. Custom alerts and advanced analytics are also available through this software.
Resources: The resources for this product are not particularly abundant, though MultiCharts does provide several tutorials and an online forum providing information about its product.
Help/Support: MultiCharts offers a range of ways for customers to get access to the help they need. You can contact the company via email, chat, or telephone for both technical and customer support. The software also includes help files and a feedback link.
NinjaTrader takes third place for its easy-to-use interface, compatibility with many popular data feeds, and affordable pricing.
Charting/Tools: The control panel for NinjaTrader is refreshingly simple compared to that of many of its competitors. Its streamlined approach allows you to easily keep track of all your strategies, executions, positions, accounts, and much more. The charting options for this software are also comprehensive and highly customizable. In addition, this software offers a number of free features that you may find useful, including automated trading and real-time market scanning.
Resources: The resources for NinjaTrade are more limited than some of its more expensive counterparts, but the software does offer live training online as well as a video library in the support section of the NinjaTrade website.
Help/Support: NinjaTrade provides customer and technical support via email and through its support forum. This software’s website also features support guides and software manuals to help customers find the answers to questions about NinjaTrade products.