How Stock Trading Software Can Make You Rich

How Stock Trading Software Can Make You Rich

Stock trading software removes a lot of the speculation from your stock or currency trades. While there are a few programs which are cost free and many that require a membership, the basis is the same; buy at low points and sell at highs. You might be asking yourself why you should use software and if it can be trusted? The answer is complete hands off operation and yes, you CAN trust stock trading software.

Technical analysis done by hand can kill a lot of time; you would have to analyze individual currency pairs either using manual analysis tools that are not real time based or on FOREX web sites. Using stock trading software puts real time tools in your hands and all in one place. It is imperative that a stock or currency trader has trending data that is constantly updated. Stock trading software provides that data to you on a regular basis.

One of the staple techniques in trading FOREX (Foreign currency exchange) is called trend trading. This method of trading currency pairs is really simple. You decide which currency pairing you want to trade, then perform some analysis on the pair for the last 60 days, 90 days or even a year. This gives you a good feel for how the pair moves and when the best time to buy exists.

A few things need to be taken into consideration to discover the best stock trading software for you as a trader. For beginners, the important thing is training and a little primary education. A free trial is vital here so you can learn the software, check it out entirely and perform some analysis in a real time environment.

Another reason to use stock trading software is to identify trading signals. Signals tell you when a specific stock or currency goes low so you can purchase and then sell it on the rise, making a profit in the process. Stock trading software can even be set to automatically initiate a trade for you when a desired commodity hits a certain level, and then sell it when it hits another higher level. This all happens when you are not even looking or watching and is the crux of trend trading.

The stock exchanges are completely automated and real time info updates are a necessity. Select a piece of stock trading software that provides rapid updates that can be analyzed fast and be prepared to make your buy or sell accordingly. The markets are fast moving, so you must keep the pace as well as stay informed.

A major feature to watch for is a price to earnings (P/E) ratio option. This is a percentage relating a stock’s profits to it’s average cost of acquisition. The higher the ratio, the more potential it has to make a profit for you. In stock trading software programs, this is the most common analysis tool and higher end programs should have this feature available.

Trading platforms help you analyze data, make informed decisions and make automated trades based on your own data analysis. Trends, charts and ticks are all part of the analysis program and all can be used to find the best buy and sell points. When you utilize these services you are able to make trades 24 hours a day, even while the European markets are operating while you sleep.

Robert Miner is the author of Dynamic Trader, High Probability Trading Strategies and creator of the world-acclaimed Dynamic Trader stock trading software. When he’s not studying the latest trend trading indicators, Robert enjoys traveling the world.

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