On this page I will post links to useful resources including software, trading education and articles of note.
Much like a carpenter needs to have several tools available to him to do his job properly, so does the trader. To that end I use several resources to be a more successful trader. Among these are trading education resources (both Free and Paid) as well as software tools for charting and trade management, scanning for trade candidates and list management.
TRADING EDUCATION/LIVE TRADING ROOM:
I am one of the moderators for the Hit and Run Candlesticks set of trading rooms. Hit and Run provides trading education as well as daily market previews and trade ideas followed by Live trading with possible Entries, Targets and Stops. You will find a wide variety of trading styles and strategies including Swing and Day trades, as well as those using Options and Futures.
For more information click here.
A valuable resource that provides a very comprehensive discussion and methodical evaluation of chart patterns is The Pattern Site by Thomas Bulkowski. Bulkowski is an internationally renowned author and trader with over 40 years market experience and is regarded as one of the world’s leading authorities on chart patterns.
The fact that he was an engineer is reflected in his in depth analysis of various chart patterns including the expected Frequency of occurrence and Performance. His web site is Free and extremely easy to use. I highly recommend it.
Bulkowski’s nine books are some of the best that I have read. My trading library contains several of them and they are a valuable resource even today.
For more info click here.
Another free resource is Stock-Encyclopedia.com where you can find information on Exchange Traded Funds (ETFs) which are sorted by Industry, Investment Strategy, Market Capitalization and others.
While many online brokers provide good charting software, most are deficient in their ability to quickly scan for trade candidates and manage the list of them. The successful trader needs to have software that allows them to go beyond the “canned” scan criteria allowing them to create scans that meet their unique trading strategies/ patterns and meet certain criteria such as Price, Average Daily Volume and Volatility.
I have been a user of the Worden Brothers TC2000 software for a number of years and can attest to its capability to quickly scan for stocks that meet your specific criteria via fully customized “Easy Scans”.
Go here to learn more about TC2000. (Note – I do not benefit in any way from this endorsement.)
Ninjatrader (NT) is an advanced trading platform for traders. The software allows the user to employ advanced automated strategies and NT8 includes excellent charts, indicators, order management and market depth information. Traders can build and test automated trading strategies or use plugins and systems created by other users and professionals.
NT8 is my choice for charting and trade execution for my futures trading. I have purchased Third Party add-ons to supplement its capabilities and needless to say I am very happy with my experience. Customer support, while not available by phone, are very quick respond to email inquiries. I have been extremely impressed with the NT customer service.
For more info click here.
Stockcharts.com is one of the most relied-upon websites for technical traders and chartists. The site was launched in 2009, and boasts some of the most visually appealing charts on the web. It offers a host of technical tools, both free and premium. Beyond charts, the site offers technical scans, commentary and a wide variety of educational materials. In fact, there is a section named “Chart School” dedicated to teaching readers about analysis techniques, charting methods and technical indicators.