15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?
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If you are looking for thebest day trading platform for beginners, you are in the right place. When choosing the best trading platform for day trading, we need to place a premium weight on reliability, stability, speed, and costs. In this step-by-step trading guide, we’re going to cover these components and more.
At the end of the day, it all comes down to having a trading platform that fits your needs and has lower costs. A single trading platform can’t suit everyone. This is an individual choice that you need to make.
Not every day trader is the same. Some day traders execute their trades manually, while others use automated strategies to generate orders. The ability to monitor the order flow or volume is critical for some day traders.
Day traders often prefer to use proprietary technical indicators. They want to be able to monitor the latest economic data and real-time breaking news. No matter of your trading requirements, the best day trading platforms will allow you to get in and out of your stock position quickly.
With this is mind, we have put a trading guide together for how to pick the best day trading platform for beginners. We’ll also share the best site for day trading.
A decent platform is fast, responsive, and customizable. The best platforms will give you the ability to program hotkeys or even custom buttons. In essence, anything that helps you to get in and out of trades quicker is the most critical factor.
The first step is is to educate ourselves. We’re only going to list the top platforms we have personal experience with.
We can speak about these platforms because we’ve either tested them or have seen or heard of reports from other professional traders.
Without further ado, these are the best day trading platforms for beginners.
Let’s dive right in:
Best Trading Platform for Day Trading: SureTrader
The first on our list is SureTrader, a powerful online stock trading platform. The first feature we like about SureTrader is their fast order executions and their data feed. Basically they have lightning-fast speeds. This is mandatory if you’re day trading stocks.
As a day trader, we really like to have executions to be instantaneous.
The second feature we like about this platform is customizability. However the downside is that it’s a high learning curve to learn all the ins and outs of this platform. You can even program hotkeys!
Being an offshore company there is no PDT rule, which will allow you to day trade stocks without complying with the minimum equity of $25,000.
For your short-term needs SureTrader seems a good pick.
Best Trading Platform for Day Trading: Tradestation
Our second pick for the best day trading platform for beginners is Tradestation.
Tradestation is a multi-asset, award-winning trading platform. Their trade execution is fast and their data feed is quick. This stock trading platform is modern, intuitive and very easy to use.
All-in-One Tradestation comes with lots of technical indicators that can be customized to suit your trading needs. Besides their desktop and web browser platform they have one of the best day trading apps.
It also has the best stock screener for day trading. This means you can watch up to 1,000 symbols in real time.
Let’s now see our third option we have as day traders.
Best Trading Platform for Day Trading: NinjaTrader
NinjaTrader is our third best day trading platform for beginners. This charting software has thousands of add-on’s and custom indicators, which makes it ideal for technical analysis. This platform also boasts a strategy analyzer which is great for backtesting.
You can see all your favorite instruments on one screen that allows you to sort them with various criteria. Probably our favorite feature of this trading platform is the real-time performance tracking.
At the end of the day it all comes down to one basic question: What are your personal needs? Everyone that is day trading for a living will have different needs.
Forex traders may need a simple trading platform and order entry system. Especially if they only day trade the major currency pairs.
Note* Make sure you also have a powerful computer or laptop. This will allow you to smoothly run the day trading charting software.
Let’s now dig into what resources you can use as a day trader.
See below:
These sites for day trading are rich in resources and have great tools to help you out in your trading operations. The most important point of my list for the best site for day trading is the usability of the website.
There are only a handful of day trading websites that really provide valuable trading tips, so it’s important not to waste time in the dark parts of the internet.
Without further ado, these are the best sites for day trading on the internet.
Best Site for Day Trading: TradingStrategyGuides.com
When it comes to trading strategies, our TSG website is rich in free trading strategies that are suitable for all market conditions and any asset classes. If you want to learn trading secrets, unorthodox trading approaches and some trading tips and tricks that are only used by the pros, then you should be reading our blog, which is almost always total gold.
Get your bookmarks ready and add Trading Strategy Guides for your daily infusion of amazing trading strategies.
Best Site for Day Trading: StockCharts.com
StockChartsis another great website that you need to keep an eye on if you’re day trading the market. Under their Blog Articles section you’ll find many technical analysis researches on your favorite stocks and plenty of insightful trading tips that you can apply right away in your trading process.
The content is pure gold and it’s rarely missing what goes on the stock market.
If there is a big stock mover and if some stock breaks some key technical level for sure you’ll first read about it on Stock Charts. Every tool you need in terms of technical analysis Stock Charts will supply it for you.
Usually Stock Charts is the first place to go for many professional stock traders so you can develop the habit to check them out too.
Best Site for Day Trading: SeekingAlpha.com
Seeking Alpha is the biggest website for stock macro analysis. Right when you land on this website you get bombarded with a ton of value. Here you can choose from top trading articles, news, portfolio headlines and featured authors.
The other market tools we like are the top market gainers and when the latest earnings report comes out. You also get the market performance report which is not too bad to read if you want to stay on top of your trading game.
Another interesting feature we find attractive is that you can customize what type of news you get notified on based on your favorite stock ticker symbol. Make sure you bookmark this stock blog website.
In summary, you should do your own research and make sure the platform you choosecan cater to your specific requirements. Once you figure out your favorite day trading platform you’ll be set to have a much promising start of your trading career.
We just have to make sure we separate the best performing platforms from the not so good ones. Now is not a time for shortcuts. Day trading software that doesn’t work correctly or is flawed can really cost you money.
These technological advancements have afforded us the best of the best. We hope you enjoyed the best day trading platforms for beginners article. If you want to learn more, read our guide on the best day trading stocks.
Thank you for reading!
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15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?
