So many choices! Experienced traders advice please...

[MarkedFeed]

Hi all

started getting into spread betting about 3 years ago and abandoned it as I did'nt have enough time for it then. I still consider myself an absolute beginner, and I have some questions around charting software. This issue for me, is born out of the fact that SB sites don't offer all the best charting indicators and the trades I make are usually made with too much emotion / guesswork. Also, there must a platform to apply everything you learn on a daily basis (for beginners like me). One gets tired of reading printed documents and not being able to apply / see them in a current environment.

I've been advised by a friend to look at ShareScope (also I have programming skills). However, on investigating this I find that there are a lot of options and wanted to get people's feedback on here.

Ideally (this is wishful thinking I know, but am putting it out there) I want software to:

1. Report real time quotes - usually trade the major indicies & stocks (FTSE,NYSE,Nasdaq)
2. Be able to do technical analysis with key indicators (incl. volume)
3. Be able to back test strategies
4. Notify me if certain criteria is reached on selected stocks / indicies i.e. be able to upload / create these criteria
5. Catered for beginners, but with the ability to support you as you grow
6. As I have a full time job still, allow me to get any signals via text message, IM or email i.e. I can't look at a trading screen all day (sadly)

Now I have two choices ahead:

1. Go for an online source (Yahoo, StockCharts, ADVFN)
2. Go for an application (Sharescope, metastock etc)

Additionally, there are applications like MTpredictor, which sound good in theory but cost a fair amount and require you to have deep pockets and a fair amount of faith in it. So perhaps one could pay for something like MTPredictor, but then what to use for analysis? Surely you don't just wait for MTPredictor to say buy / sell?

In a perfect world there'd be one application that 'can' do all of the above. I don't want to pay for something and find out that its crap. I'd like to get people's opinions on here to see what they would advise.


Read more...

[akhi kashyup]

Do you get charting with your software, or do you have to get a separate charting

package when choosing an online trading site like speed trader and Super trade?

[pankaj joshi]

i believe you have to pay seperately for getting that akhi on super trade and speed trader?

[rohanjai]

you get live quotes instead of charting in many online platforms.
but how well and useful are these live quotes from various trade sites including reliance money super trade and ,icici direct speed racer and sharekhan classic trading.one should have superior software and great speed.that's what i feel like.

[akhi kashyup]

of course they are helpful rohan.when u will get to see it daily you will know.one more info please are there any other modes of activating the shares as collateral facility in platforms like icici direct and reliance money super trade?

[pankaj joshi]

there are i am sure i have heard but also get ready to pay for it.

[manoj khatri]

here are a few comparison points between all of the online trading platforms.this will help you guys.
Online Trading, Demat Account and Brokerage Firms

[akhi kashyup]

nice comparisons .good for the info.but is online trading not hot for mutual funds?
see here..
Few takers for online MF trading- MF News-Mutual Funds-Personal Finance-The Economic Times