Day Trading Software

Finding good day trading software boils down to a very fundamental question. What information do I need in order to be more successful as a trader?

The more information and understanding of the underlying structure of the market you have, the better off your investments will be.

This post is going to review some software products.

News Analyst:

This is a tool that lets you see how specific phrases did previously in the news.

It’s a great way you can actually see the way the news has done based on the past.

You can also tune into specific articles to view every phrase:

From this screen you can see the every article including that phrase on this screen

All and all, I think this system is really cool. I was speaking to the a member of the team, and they are adding some other really cool functionality. So I think it’s definitely worth setting up an account.

Stock screening can be a valuable way to figure out what stocks are interesting in very short order.

Many questions are very hard to answer without some sort of automated tool to help. Sorting through the amount of data you need would take so much time that it would be impossible by hand.

That’s where stock screening comes in to play.

Screen is a process where an investor discovers useful information from a much larger set of information. Some automated process makes a smaller concise list for the investor to sort through. This points out where you should do more research.

Overall this process allows you to use your creative/analytical process to find new target stocks.

To identify target stocks investors commonly look at company growth, value, and income. All of the common screeners have this functionality.

Choose your criteria, tune your results, and research the stocks.

Here are some good screeners:

Yahoo! Screener
CNBC Screener

The basic concept of market timing is buying when prices are low, and then selling when they are high. This is over simplified though, and it is actually a lot more complex than this.
Their are a few methods of market timing.
Analytical timing uses raw data to predict the direction and strength of the move. There are many algorithms for this type of timing such as MACD, RSI, Exponential and Standard Moving Averages.
Conditional market timing is another type of timing longer term periods. This is done by understanding the underlying principles of the economy, and keeping up with the news, then making predictions.

Stock Finder is a good program for analytical analysis of stocks, and rule based sorting.

You may use common screening methods to whittle down the number of stocks you are interested in. But you have to do a lot of research.
You can use some sources online to download the annual reports of the companies that you are considering trading. We’re going to discuss what to look for while looking over the financial statements, calculating the ratios, and digging deeper into the economic environment which your possible investment is a part of.

Find the candidates you’re interested in: Look into the stock fundamentals for the types of stocks you’re looking for, you can use screening software for this.
News: Check out the recent news about the company. WarpedAI’s system is good at sorting through this type of information in a quick and concise manner.
Economics: Look at the changes in the economy current. See how it’s affecting other companies in that sector.
Market: Is the market moving in a strong in stable way? Is volume increasing each month?
Analyst Expectations: Study what the analysts are saying about the company. Do you see many analyst saying the same negative or positive things?

A good way to learn more about this is Trader Interviews: