- Listed: October 11, 2013 10:09 am
Day trading per se is the process of entry and exit pertaining to a particular stock within the same day. Day traders make money by leveraging the changes in the prices of the stocks with large capital. Intraday software enables the traders and investors to make these entries and exits in the market.
Intraday software is imperative due to a lot of reasons some of which are as following:
• Unlike the traders who hold their stocks for more than one day, intraday traders need to have information about the slightest fluctuations in the prices of the stocks in their portfolio due to the nature of this kind of trading. If they do not have this information, they could lose a lot of capital. Software’s make this easy by providing real time data.
• There is market transparency that comes with using intraday software especially ones which show all the buy-sell transactions being done across the market so as to analyze the market sentiment and choose the most profitable group.
• Software’s also provide the traders with information such as the depth of market which enables the traders to see the supply and demand of a particular security at different rates in the market.
Today, we will be discussing some of the most sought after intraday software’s available in the market and also the reasons that make them so popular. They are enumerated below:
1. Amibroker: It is intraday software which comes with an array of features such as back testing, indicator creation, multi window layouts, composite indicators and object oriented charting. It facilitates the study of the market and prediction of trends to create a profitable securities portfolio. This software is available in two versions currently- Amibroker Standard and Amibroker Professional.
Some of benefits of using Amibroker are that you get quality software at a value for money price. Secondly, you can create as many watch list’s as you want and go through them easily. Thirdly, a very effective and active support system is available to take care of all questions and problems. Last but not the least; the back-testing feature is a winner hands down!
2. Ninja Trader: It is trading software which is self sufficient by all means when it comes to trading solutions. It includes features such as advanced charting, analysis of the market, development of trading system etc. it is free unless the trader wants to trade using their account in which case, they need to pay. The main USP of this software is their training sessions which happen daily to help you understand the software better and use it to your advantage as well as many other benefits such as advanced trade management features and back testing.
3. Meta Trader 4 (MT4) : It is an electronic trading software mostly used by FOREX traders. As a software, it has two components namely, the server and the client. Server is in the hands of the broker and client is provided by the broker to his customer. The client component helps the traders to use it as any other trading system which comes with charts, real time data and management of their accounts. It gained popularity mainly because the traders could write their own scripts. They have introduced an automated version which as the name suggests would constantly monitor your portfolio and take positions and exit accordingly, automatically. The advantages of using this software are that it is easy to use, has many users, indicators can be customized and user friendly layout which can be modified.
4. Advanced GET: Trading software by eSignal includes advanced charting, back testing and an extensive choice of brokers and other such features. The core strategies used in this system are elliot, stochastic and expert trend locator (XTL). They even provide pre recorded tutorials that can be viewed by the traders as and when required as well as customizable chart intervals.
The above discussed trading software’s are available in the market and are being used by many seasoned traders. Each trading system has its own benefits compared to the others. Hence, it’s up to you to decide which suits your requirements best.
For further information on the BUY AND SELL SOFTWARE, Intraday software, Real time data, Nifty live Charts, please visit: http://www.stockradar.in/
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