Choose Charting Software
As with any products on any markets, there are countless charting software you can choose from. I personally use 3 software:
– Metatrader 4 (free)
– Ninja Trader (free)
+You might also want to consider Metastock (very costly)
1) MetaTrader 4
If you are new, I would recommend to try Metatrader 4 first. Metatrader 4 supports the data feed directly from the broker, and it is very user-friendly as well. You can download Metatrader 4 directly from the website of the broker you like.
Advantage: – Very fast execution
– Real-time data feed from the broker
– Support DEMO account
Disadvantage: – Limited products
Forex broker: http://fxtrade.oanda.com/trade-forex/metatrader/
After sign up for a demo account, you can download MT4 and practice trading with the real condition.
CFDs on US stock broker: http://www.ironfx.com/en/trading-platform
Download the standard MT4 version. You also need to click on Open Demo Account on the right side to register for a demo account. Just fill in the information required and we are good to go.
2) Amibroker (https://www.amibroker.com/)
If you are only interested in Viet Nam Stock or any oversea stocks( products) which are not available on mt4 broker’s platform, Amibroker is your best friend. Although it is not cheap to get Amibroker, it is worth the money to have one. If your country is not regulated about the license and copyright infringement, you can find Amibroker with crack on the internet. However, I would NOT recommend you to do that. Please play it fair!
– Chart any products you like
– User-friendly with many tools
Disadvantage: – Costly for retail traders
– You would need a data feed which usually costs you some more money. BUT ON THIS WEBSITE, WE PROVIDE YOU WITH OUR DATA FEED FOR FREE. If you want high-quality data, you should try Bloomberg, Esignal, Morning Star and some others big data providers online. Using our data feed on a daily basis would help improve this website so please consider to use that free service.
3) Ninja trader (http://www.ninjatrader.com/download-free.php)
I find this platform super slow and lag on my computer. However, they provide some free data feeds, which is great because it is free :D. Their tools have nothing special to me, so if I need to see the chart of a single stock without careful analysis, I would use Ninja Trader for this purpose.
Having said all that the 2 you need to have in your laptop now is Metatrader 4 and Amibroker:D. If you can’t afford Amibroker then it is totally fine to continue with the course. Because there are still many good trading platforms out there, you are free to find and choose the most suitable one later.