Stock Charts and Real-Time Quotes - Profit With or Fail Without
Are stock charts really that important? That bold headline above tells you our opinion. If you are going to trade actively you absolutely must have real-time stock charts and stock market quotes. Futures traders? No way can you trade the S&P E-Mini with the same data and information. Swing Traders who do not make their moves intraday can get by without the real-time intraday data but you still must have a powerful charting and real-time quote service.
There are clearly many choices on the market for these tools and we're not going to attempt to cover all of them. We will instead focus your attention on the tools that we have found to be excellent and should help narrow your search considerably.
Keep in mind that some of your online brokers provide you with real-time quotes and even charting applications at times. This might be all you need but if you feel what you are being provided is missing important features do not, and we repeat, absolutely do not cut corners.
So often we talk to traders who risk thousands of dollars in the market with a few key clicks but pride themselves in saving a few dollars without stock charts or trying to get by with a free service that has limited service or delayed information. You might save a few dollars a month but it will cost you that and ten times over or more without the proper market trading tools. Lets cover some of the more popular choices:
ESignal Stock Charts ESignal is one of the oldest providers of real-time charting and quotes. Featuring stock, futures and options in an advanced software package packed with about everything you would need. Recently introduced system development and testing in an effort to compete with Tradestation which was founded on the ability to design and test trading systems. Pricing tends to be in the mid-range -- and usually best in a package at an annual rate. Typically they offer a trial period as well. Always evaluate first.
DTNiQ Stock & Futures Charts DTNiQ is an excellent choice especially for those of you looking for value with both stock and futures data/charting. You'll find the monthly rate is one of the lowest out there and the features of the software certainly full-fledged and powerful. Their one fee includes data from stocks and futures. In addition, they typically offer at least a one week trial and some special incentives with several months free depending upon your subscription. For you futures traders all the major exchanges are covered as well as European futures quotes including the popular Eurex exchange. Stock charts including a number of indicators and time intervals. Certainly one to look at for the active trader.
iqChart Real-Time Stock Charts iqChart is our ideal choice for the trader who is either trading off of the daily, weekly or monthly charts. Or, if you are doing some swing trading intraday you are more concerned with some of the bigger swings intraday and not trading by the tick. The price is exceptional for full real-time stock quotes and stock charts. The software is very easy to use and they have a number of indicators including some interesting proprietary indicators you won't get anywhere else. Stock scanning is also a main feature along with portfolio tracking so this is a feature intensive package for a very impressive overall price.
Sierra Chart Sierra Chart is an exceptional choice for those of you who might trade with Interactive Brokers - a very stock and futures broker for active online investors. If you use Sierra Chart you can actually hook-up the datafeed from Interactive Brokers into Sierra Chart and get real-time charting intraday. Charts are updated tick by tick. You'll pay nothing for the datafeed beyond what you have established with Interactive Brokers and the charting software itself has a minimal cost. If you happen to have a datafeed from MyTrack you can also get historical data to fill in for the times you are not running Interactive Brokers.
There are obviously many other choices out there but we feel these third party suppliers offer stock charts and then go well beyond that with the number of features for prices that are well worth it for the active investor. Make sure if you plan to trade the markets you do not sacrifice on having the best tools available. Think of any profession and the tools/equipment they have are the keys to performance or maximizing effort. Cut corners on what you pay for lunch but not what you pay for your critical market data and charting.
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