If you follow me at all for sure you have heard me mention my goto stock scanner Trade Ideas. It is amazing software and when they have their test drives you can use the software for $8.99 for up to 10 trading days now.
In reality not everyone has the capital to spend $100+ for software when they are still learning. Of course having the right tools can help you to make those profits.
I usually think if I have recovered the cost of a tool I use, then it is a worth while tool in my toolbox. Just like a trade what is the return on the investment for that scanner or charting software.
Which brings me to my top 3 favorite free stock Scanners. They all have a basic free version and then a paid service should you choose to upgrade.
Finviz is a great tool for the newbie trader there are alot of Free attributes that are very helpful. Below is a photo of the Home Page. You can see there are two different lists of stocks the left with stocks that have moved up and then the right are the stocks that moved down. There is also a heatmap for the movement of the market.
Below the Indexes charts you also see the advancing versus declining stocks in the market , New Highs and New Lows, Bear versus bull.
You can also use their screener (below) to create your own list and you can see that they have a number of options in the free version
You can see in the chart below that you can be a user of Finviz in two ways as free and then more attributes come available at a $26.95/mo charge.
The best part about the paid service to me is if you want real time prices and custom charting. They unfortunately don’t have level 2, but you can see it all unfold in a real time fashion with ability to customize the layout and scanners more to your liking.
All in all, I like Finviz more for post market scanning of stocks as there is no issue with price delays, because the market it closed. A downside to the free version is that there is no premarket data. So that brings me to MarketChameleon.
To be honest when I am up and need to do my watchlist between the hours of 4-7am, this is my go to resource. I love the fact that the data is available earlier than Trade Ideas.
Premarket Free Screen
Also Market Chameleon was developed by professional floor traders to make their life easier in searching for unsual activity to profit. This is my second favorite Scanner.
You can see in the photo above that Market Chameleon offers screening on more than just stocks they have Stocks, Options by Expiration, Options by Blocks and ETFs.
That is just part of the software you can access for free. You can look at specifically premarket activity, post market activity, Market Movers, 52 week hi/lo, usual stock volume and more.
What I like about the pricing for Market Chameleon is that it is somewhat ala carte. If you want just stocks ok , Or if you want just option details you got it. or the whole package.
The final Stock Screener to add to my free list is Stock Fetcher.
Stockfetcher I find as the most techy stock scanner out there. Trade Ideas allows you to simple check boxes to create a scan while StockFetcher somewhat forces you to write the filters out for each step.
Once you have a scanner that you like you can save it and run it over and over each day. It is easy to create you scanner as they have 125 different indicators to customize your alert.
The bare bones Stock Fetcher is also priced as a scanner with less bells and whistles. However for the price you definitely get a great value. $9 a month for being able to scan gap stocks on higher than normal value is a great tool.
I’m not sure as to what time the data becomes available for the premarket scanning as I usually use Market Chameleon before 7 am and after 7 am Trade Ideas
Choose your Stock Screener based on Profits
Being a trader you need to find tools that you trust and will generate income for you. Make sure that if you test out a new tool there is a profitable return on your investment.
As a trader you are a bit of an entrepreneur and you need to make sure all expenses are warranted and will provide you positive returns. So definitely compare what is out there and when someone has a free trial or something that is less than $10 ( the cost of 2 Starbucks )
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
We are in a very exciting time in the market when the cost to enter the market is dropping daily. In the past month we have seen all brokers drop their securities commissions fees down to zero except for Vanguard.
So no commissions means it is easy to practice trading with real money. You could buy 1 share or 10 shares depending on the value of the stock and really practice your entry and ext to determine your best strategy to keep risk to a minimum.
You could try trading the super low float, high volatility and high momentum stocks . You could try trading the blue chip stocks that have high daily range as well. It is the perfect time to practice with small money after you have learned basic knowledge of how to trade.
I am not recommending you to trade with zero knowledge about trading, as that is very important first.
You might say yes Jane I want to get into trading, but I have no money to trade with right now. This is something that I hear from people quite often.
In fact I know of a flight attendant and she wanted a better life for her family so turned to trading. However capital was a barrier.
If this is you then Prop Trading Firms might be your answer. However I only found one virtual prop firm for Stocks the rest are for Futures and Forex.
Prop Trading Firms
You might be wondering what on earth a prop trading firm or proprietary trading firm is and how can this help you.
Well a prop firm or proprietary trading firm is a firm that allows individuals to trade the firm money for profits for the firm and the individual trading the money.
There are always certain rules imposed such as the breakdown of the profits firm to trader, the maximum amount of drawdown or losses before the firm will cut you off, and certain education requirements
To be honest this is the only virutal prop stock firm that I could find. There are many 4 wall office prop firms, but you have to go in person. Tradenet hosts everything virutally allowing you the flexibility to prosper.
Tradenet can give you the opportunity to learn how to day trade, and potentially enjoy extra income. Learning how to day trade the markets, taught by our top moderators, Meir Barak and Scott Malatesta.
Since 2004, Tradenet live day trading academy has educated more than 30,000 professional traders worldwide.
They also offer a free 5 day demo account with 14K to trade to test out their methods.
If you find that you are interested in working with them they have 4 different programs that you can choose from in your desire of education in order to receive funding to trade
Intro Program after training has been passed then you are eligible to apply to trade a $14,000 funded trading account. You will receive 70% of the net profits you generate and will have a maximum drawdown of $700.
Student Program after training has been passed then you are eligible to apply to trade a $80,000 account. You get the account with a maximum drawdown of $4,000 and will receive 75% of the net profits.
Expert Program after training has been passed then you are eligible to apply for a $160,000 funded trading account. You receive 80% of the net profits with a maximum drawdown of $8,000.
Pro Program after training has been passed then you are eligible to apply for a $240,000 funded trading account. You will receive 85% of the net profits that you generate with a drawdown of $12,000.
Tradenet also has a virtual trading room live on Youtube during NYSE trading hours. As well as a free book by Meir Barak all about trading after 20 years of experience.
Meir’s Book is The Market Whisperer. You have two choices you can sign up to get a digital copy free or purchase from Amazon.
For now Tradenet is the only Stock Prop Trading Firm that I have seen virtually. All the others for stocks are a physical locations where you have to go into an office to work.
If you trade Futures or Forex them these firms below might interest you as well with their fees being low to enter to receive access to funds from $95/mo for $25,000 access up to $500/mo for $250,000 of funding.
One Up Trader is a funded trading account for traders that are interested in trading Futures securities instruments.
The way to open up an account is to go through One Up Trader’s 1 step assessment and then you will be able to sign up for a free trial of a $100,000 funded account for 14 days. Then you have the choice of the level of funding you want based on a monthly cost.
There are 4 options of Novice, Beginner, Advanced, Professional and Expert.
You have the choice of profit split between you and One Up Trader receiving 50%/50% or 80%/20%. I searched to see if they clarify who gets the 80% and I believe that it is 80% to the company and 20% to you, but I could be wrong.
The amount of funding for each of the different accounts is Novice $25,000, Beginner $50,000, Advanced $100,000, Professional $150,000, and Expert is $250,000.
One Up Trader’s fees are monthly based on your choice of profit split Novice ($95/$125), Beginner ($120/$150), Advanced ($240/$300), Professional ($300/$350) or Expert ($500/$650).
One Up Trader’s Trading guidelines are fairly simple, 15 trading days a month not including weekends, only the permitted products, you must be closed out by 3:15 CST, Maximum Position Sizing based on the account you choose, to reach your profit target, daily loss limit (if met shuts down trading for that day), not to hit your trailing drawdown, showing consistency in your trading.
I did look into if this is only available to certain countries and their website says if your country or city is not accessible on their sign up page then it is not available to you. It seemed to me that most countries are available.
The Top Step Trader Program Is for Futures only. Like One Up Trader you have to go through an evaluation to receive the ability to be funded.
Top Step Trader allows you to prove yourself in a simulated trading account with profits and risk management and then you have the ability to choose your funded account.
Now just like One Up Trader, Top Step Trader has their own parameters or rules that you must follow to remain being funded.
The Rules are fairly straight forward. You can only trade during permitted times, you can’t exceed the daily or weekly loss limit, you are not allowed to exceed the trailing maximum Drawdown, you can’t hold positions into major economic releases and you have to follow the scaling plan.
The final prop firm that I found that is good for Futures and or Forex Traders is Earn2Trade. Much like the other prop firms mentioned above you do have to go through a qualification process to be able to trade with their capital.
Earn2Trade is similar to Tradenet, in that they offer you 3 different training programs to reach your funding account.
The Crash Course consists of 60- 10 minute videos to help educate you on the market, risk management and technical trading. The cost for the Crash Course is $249 for lifetime access.
The curiculum is set up to run you over the course of 6 weeks. I’m not sure if you have the ability to do them more quickly
The Bootcamp is a 4-6 month long course with a price tag of $2499. What the biggest difference is with the Bootcamp is a personal mentor that is a licensed professional.
The Bootcamp is a 360 view of trading including Earn2Trade , Crash Course and then 4 more months of mentorship and the Gauntlet. Once you have completed the Gauntlet successfully you will receive a funded account offer.
The training program is actually a 2 part. They have the mini-Gauntlet and The Gauntlet. The Gauntlet is a 60 day program and the Mini Gauntlet can be done in as litte as 15 days.
The Gauntlet is a one time fee of $249.00 for $25,000 and The mini Gauntlet fees are monthly similar to One Up and Top Step Trader.
So you can see that the Mini Gauntlet is the newest addition but the monthly fees could really add up if you are trading more than the $25,000 capital amount.
Potentially with patience you could spend the $249 and then grow it up and it is a one time fee instead of monthly cost. I’m not sure if they would let you transfer from the mini-Gauntlet to the Gauntlet after a 60 day time frame.
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
When you are getting set up with trading being able to set your charts up how you want is very important. As a pilot, I know how important it is to be able to trust your tools.
For trading your most crucial tools are your stock scanner, charting software and broker.
For me as a mom of 2, I tend to be at my desk in the morning for my premarket prep, market open and until around 11am. Then it is time for adding balance into life with the gym, and mom duties.
You can see that Tradingview does have very affordable rates for charting. There are other free charting softwares out there, but the additional attributes offered with Tradingview make it my #1 charting option.
Stock Market Data Feeds
Tradingview is a great charting software for traders of crypto, forex and stock markets around the world. The data feed is monthly add on ala carte.
Meaning you can add only what you need and you don’t pay for what you don’t use. I really like that feature.
For the North American Markets you have your choice of ARCA, NYSE, Nasdaq, CBOE, OTC, Futures (CME Globex, CBOT, NYMEX, CBOE, ICEUSA) , Canadian (CSE, TSX).
For European Markets you have the choice of BELEX, BIST, BME, EUREX, Euronext, FWB, GPW, ICEEUR, LSE, LSIN, MIL, MOEX, OMX, OSE, SIX, SWB.
For Middle East and African Markets you have the choice of BSE, DFM, EGX, JSE, NSE, QSE, TASE, Tadawul.
For the Mexican and South American Exchanges you have a choice of B3, BMV, BVC, BVL, BYMA and SSE.
That brings us to the Asian and Pacific Markets offered of ASX, BSE, FTST, HKFE, HOSE, HSI, IDX, KRX, MYX, NSE, NZX, OSE, SEHK, SET, SGX, SZSE, TFEX, TOCOM, TSW and TWSE.
So you can see that you definitely have you choice of markets around the world you can trade with this software. The next feature is my absolute favorite.
As I mentioned above, I am usually away from desk as of noon as the markets tend to be more run by algos and less retail traders and more high frequency manipulation.
That is why I love having the Tradingview App at my fingertips to keep a pulse on the markets. I can set everything up at my desk in the morning and it transfers right to the charts on my phone.
I have not found another charting software that presents the same view of charts on desktop as with mobile. This app is also available as a free customer.
Basically I set up my watchlist, alerts and charts with targets before I leave my desk so that I will receive notifications. I have also tried other broker software for alerts, but non have sent notifications to my phone.
I can be working out on the treadmill and receive the alert on my headphones and its time to take partial profit as the target has been hit. Love the apps.
Chart Indicators
I also have yet to find another charting software that offers over 100 of the most popular indicators and allows you to also write your own script for custom signals. There are over 8000 of the community powered indicators.
The Free version will unfortunately only allow 3 indicators at a time, while any of the paid versions will allow you to have 5,10,25 indicators based on your subscription level.
Chart Alerts
This as I mentioned is amazing with Tradingview. You can set alerts based on price when a certain condition is met and then once your criteria is fulfilled you can receive an sound alert on your computer, email and even a notification on your phone.
The alerts are great as well because you have the software watching your stocks while you are on one chart and then a pop up will alert you when conditions are met.
Watchlists
The free version will allow you to have 1 enhanced watchlist and with the paid versions unlimited numbers of lists. This is great if you like to watch stocks in indexes, a sector, swing trades or day trades.
Not only setting up your own watchlist but Tradingview offers you hotlists of top movers and more. It doesn’t stop here.
Stock Screener
Tradingview will also offer you a complimentary screener. Not only can you use this screener for stocks but also for crypto and forex. For the free version you are limited to Daily, Weekly and Monthly timeframes. All of the paid versions have the ability to scan on all timeframes.
What is better than being able to share all these ideas.
Social Network Sharing
You have the ability to publich private or public ideas. You can share viewo ideas, two of the plans offer custom chats.
To me it came down to only 2 negatives with the software.
The paper trading could be improved. Right now the software only offers the capacity to paper trade stocks and with simple buy and sell limit or market orders.
It would be great if you could put in trailing stops and stop limits as well on the paper aspect. I would also love to see if they add options paper trading as well.
The second negative is that the brokers that they link with are not your usual trading brokers. I know that they are looking to set up many of the popular brokers such as Interactive Brokers coming in 2020.
Overall you can see that TradingView has some amazing features at a very affordable cost. Bottom line with any tool that you use in trading is if you are able to cover you costs by profitable trades using the software it warrants the use of that software,
If you want to learn more check it out and sign up for your free account.
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Today we are in a changing world where the trading commission structure is changing. It was just yesterday October 1, 2019 that Charles Schwab announced that it was cutting its fees down to zero on stock trades but .65 for options.
This is huge for the stock trading community, but what does it mean to you as a retail trader?
Trading Commissions
Robinhood was the first broker to offer zero commission fees to their users. However from many people I have heard that these fees come with a price.
The price is not direct in a commission charge, but for them it was a price of not being able to get the best fills for orders.
So even though the initial thought is this is great that there are no fees especially for over traders, it does come at a price that is hidden.
Now we see that many of the bigger brokerage houses are also reducing their fees to compete with each other.
Initially this seems like a great opportunity to get into day trading as one of the major costs of trading. Here are sold old fees
Cost of Trading Stocks
When you are a trader it is not just the profits and losses that you have to think about you are your own business owner and you do have costs
Broker Fees
Data Fees
Stock Scanner Software
Charting Platform
So eliminating the brokerage commission fees is going to help to grow your profits over night as it is truly a cost for you in placing every single trade.
So now we see that they are removing these fees but only for stock trades.
What does that mean for the options traders and futures contract traders?
Lowest option trading commissions
In order to open an options account the minimums to trade are lower than trading stocks. So some traders start with trading options before trading stocks.
The lowest options trading companies now are:
Tasty Trade $1.00 to enter nothing to exit
Trade Station for 0.50 cents a contract
TD now for .65 cents per contract
Charles Schwab 0.65 cents per contract
Lightspeed 0-.50 per contract
Interactive brokers 0.70 cents per contract
So now the only people to be paying fees are the options traders, which tend to be more day traders as opposed to longer term investors.
Why are they cutting trading fees?
Again it looks like a benefit to traders, especially ones that were worried about the fees in getting into trading.
But sometimes when something is too good to be true it is. That’s right why are they cutting the trading fees.
There is a major talk of recession coming and dropping these fees is going to retain customers and try to gain new customers. These new customers are going to come with money.
Why are these brokerage houses trying to gain more reserves. What is the back story besides just competing for day traders.
Originally brokerages loved day traders because the commissions allowed them to generate daily income for these brokers. But now that is disappearing.
It is no wonder that Etrade, TD Ameritrade, and Schwab have all had their stock value drop because their revenue is being cut.
I’m curious why do you think that they are cutting their fees. What is it that they are hiding to try to gain the additional money into their brokerages? Is this truly for the benefit of the customer?
Tell me your thoughts below
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Trading from home for many is a blessing, but sometimes it can be a curse. For someone that is a big socializer, they might miss the attributes of having coworkers in an office setting.
Working from home
This was my goal once I had my first daughter. How can I set up my home office to be readily available for my now 2 daughters.
I am an expat living in Quebec, Canada and I tried to go to my former career from the states of being a real estate agent. All was going well until I was told I had to pass a french exam before receiving my license as an agent.
Wouldn’t you know I passed the real estate portion of my exam, but due to health issues of my daughter I did not pass my french exam.
Sometimes the biggest negatives can be life lessons to make lemonade out of lemons. This was one example.
I did some soul searching and rediscovered my passion for stocks and studied to work from home or anywhere with internet access and my laptop.
That is when I found myself becoming a daytrader an searching for like minded people.
Day Trading Community
First step for me was looking for a mentor to learn from and a group to join as a trader. When you work from home especially as a trader it is definitely a solitary job in your home office unless you reach out to others.
I know for myself I need to have that community to hold me accountable and need fellow traders to communicate with and as a result I tested out different chat and trading rooms.
First off I found Timothy Sykes with his penny stocks program and how to be a millionaire. I hung around there for a year as part of the program and it was great for me to learn some basics. However I felt his chat room had a bunch of ego traders in there all about their profits
His strategy of penny stocks works well for him but not for me. I realized that I had to find my strategy. It was too high risk for me.
Then I tested out Ross Camerons Warrior Trading room, and I learned from some of his colleagues and learned all about the Trade Ideas Scanning Software.
After learning about the software I discovered the Trade Ideas Free Trading Room. It is a great room where Barrie the moderator helps to educate you about the software, AI and potential trades.
There are also many other great traders there and for me I found it to be a perfect fit that is until I discovered the darkpool. I’m sure I know what your next question is …..
What is the dark pool ?
Well the definition of the dark pool according to Investopedia is as follows.
You can see that the dark pool is where the big institutions and large money traders go to get the best fees and best fills for their trades.
Now how did I learn about the darkpools? Well it happened when I was writing my book, #FMJ Trust Transition Trade. It is a book about female traders with different experience from 5 months to 25+years.
One of the top seasoned traders interviewed was Stefanie Kammerman and she enlightened me on the darkpools. I became more and more curious and then asked her to speak at my trading Summit, The Modern Traders Summit.
It was there during her presentation that my interest was really peaked. Why not follow the guys placing these trades?
So I joined her in the Java Pit in 2017 and have never looked back. When you have the ability to ride the coat tails of these guys you can profit. And you can profit big time.
I would mention all the times that we have seen the prints come out before the news, but there would simply be 100s of examples. One of the most recent ones was before the potential threat of impeachment.
We say the prints happening on the indexes 3 days before the news came out. And we see it happen before major oil moves, earnings and more.
So I have found my happy trading place in the Java Pit. It is a great trading room where everyone works together to help spot these amazing trades.
Now the Java Pit is not a beginners room. If you are more of a beginner or want to learn more about trading around the dark pool and that edge then you might like the Training Pit.
Trading with an edge
Trading right off the bat is 50/50 success rate. If you can skew that in your favor then you want to stick with that edge.
The Training Pit can help to teach you the basics of trading and how to use the darkpool as your trading edge. To be honest the market is moved by the guys who have placed these trades in the darkpool.
In the beginning it can be very confusing. What is a darkpool print? What am I supposed to do with it? Once you start to see how it works for a couple of months the lightbulb turns on.
Ah hah, this is how the big guys get in before the news is announced and how they make money. I don’t need to know any insider information.
When you have the prints of the guys that are in the know you just follow them.
If you have been following me you know I am passionate about helping others learn to trade and keep their profits. Well I took the step to teach August 2019 in the Training Pit.
We help you learn more than just the mechanics of trading, but also how to set up your charts, software, terminology and much more. There are over typically 9 live webinars a week which are all downloadable if you are not able to watch them live.
This is the place I wish I discoverd back in 2019. Just like my book is one I wish I had to read breaking into the trading world, this room is one I wish I had in the beginning.
Trader Meetups
Meeting in person to relate is also huge and Traders Meet ups are amazing. This Fall I have two on my agenda and they are both free if you are interested in joining .
I hope to see you there, but if you are not able to join us and you might still have questions you can reach out to me at carpeprofit@gmail.com or in the comments below. I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Just like a Pilot has to trust their instruments when flying in bad weather, a Day Trader must be able to trust their tools. If you talk to any traders you will find out they all agree that there is not one platform or service that provides everything they want in one location
The Top 5 tools for me include a reliable Level 2, a reliable stock scanner, a reliable charting software, reliable community of traders and a reliable trading site.
Reading Level 2 for profits
Having an in depth level 2 market data is in my opinion very important. Without being able to see where the big orders are on the book you are trading blind. Being able to see a buyer or seller refresh their bid to get their bigger order is very important. Understanding where the strength lies on the volume is very important.
There isn’t always one provider that will give you everything you want. For my level 2 market data I use two different sources. Think or Swim and Schwab Street Smart Edge.
Why do I like Think or Swim? I love that I can see GSCO or Goldman Sachs to see where they lie on the books. Many times I use their bids or offers as targets as they have a great deal of capital and can help to move the market. I will track their initial bid and offer 15 min after open. If they move their offer up there is a chance that the price will continue past their first offer, but it still remains a target.
The second one I use is Schwab Street Smart Edge that shows bigger orders and the refreshing of orders on bids and offers more easily as well as a time and sale box that shows when a sale goes through the ADF or Alternative Display Facility.
I love being able to offer people free alternatives but I haven’ been able to find a free real time level 2 quotes online.
Best Stock Scanners
I know you are thinking more than one scanner what Jane you must be crazy. No I don’t know of any more than one because I do have a free stock scanner to offer to you on this one. First we will start off with the best stock scanner.
Trade Ideas is an amazing software that has been evolving since 2002 and with 17 years of tweaking and feedback from their customers and outside users it is an amazing software. You have the ability choose to use the scanning and alerting by itself. You have the ability take the premium version to back test you strategies and use their Artificial Intelligence Holly to generate ideas for you. You have the ability take it one step further and automate your trading directly with certain brokers. A software built by traders for traders. They also offer a free trading room and a free web version of the product with delayed data.
The Second top scanner that I am happy to enlighten new traders about is Finviz.com They have a free version and a paid version. The paid version obviously gives you more abilities, but the free version is amazing and great for end of day scanning. They also offer an amazing map of the market sentiment by sector.
Stock Charting Software
For Charting there are a couple options that I really love. The best charting software to me is Tradingview.com. One of the main reasons why I love this software is because it is so easy to use on a mobile device. I set everything up on my laptop. I set levels to watch alerts and then when I’m at the gym getting in a workout I receive my alerts and can see the same charts. Some platforms especially brokers offer different views on the desktop versus the mobile device.
My second favorite charting software is Trendspider that has the first ever that I know of rain drop candles. Truly only second because they are a new company and don’t have their app up yet. Since I’m a big follower of volume they use the data feed to create these candles which help to show where the volume flow was during that candle. Best way to describe it is to show you an image Worth 1000 words right!
Also the ability to have multiple time frame analysis on one chart. Where you can use a 5 min chart to trade but see the daily averages as a dashed line to know where the price action might stop.
The final feature of Trendspider that is great for newbies is the algo that will draw trend lines for you, to help you shorten the trendline learning curve.
There are actually a couple of free charting platforms. Tradingview.com also has a free version which like finviz.com is great when the market is closed. There is also Bigcharts.com which has a premium upgrade to it and StockCharts.com
Day Trading Community
There have been two very positive and supportive trading rooms that I don’t know of any really found to be my home. One of which is you bet free. It is so important as a day trader to be in a community of supportive people as you will make mistakes and when others support you and allow you to get better we all win. That mentality really hit home in the Java Pit Trading Room.
I clicked with Stefanie Kammerman and now we are working together in the Training Pit to which would be similar to trading 101 in trading university. A place for beginner traders to come and learn the proper foundations of trading. Software execution, Charting, and more tips.
The other trading room that is great for people just wanting to get a taste of the stock trading world is hosted by Trade Ideas. Where you can see their software for free ad Barrie the moderator will keep people in check.
Many times I hear people talk about stock chat rooms, but the day trading chat rooms that I don’t know of any been have been more about chatting than trading and unfortuntately not a supportive atmosphere. Bottom line is you will find the room and style that meshes with you. I prefer up beat positive people that yes are human and make errors and take small losses in trading.
Your Trading Platform
It is very important to have a platform that you like. There are many out there depending on where you live. For me as an expat in Canada I only have a handful. I use Interactive brokers remotely on my phone, but find their platform not the easiest. I love the mobile version of Think or Swim.
A great resource for finding Top Online Stock Brokers is the Benzinga updated list. Where they review the brokers annually and change them as the latest and best become available.
I don’t know of any heard horror stories from some Americans that are day trading with Robinhood. It is somewhat true to say that you get what you pay for. So make sure that you go with a reputable broker that will not kill your capital with fees.
Arsenal of Tools in Trading
When someone asks me what I use, I always think of my instrument flying experience and trusting my instruments. I need to know that I can rely on all the items I mentioned above. To be honest if one faulters it can distract me from the job of trading. When that happens. I wait until everything is fixed and watch for the next setup. This I just realized does not include my desk setup of hardware it is all software for trading.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you would like to be in Training Pit with me sign up here or if you want one on one training you can email me jane@thedarkpools.com You can contact me here or Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Having the latest and greatest news you can see is quite a lucrative business for the services above, but wouldn’t you like to be able to trade with an advantage before the news came out.
Another way to catch a glimpse of what might happen is to track what the insiders are doing.
Most of us do not have the ability to get the insider information, but the insiders of the company do have it and when they place a trade they have to report their trade to the SEC.
The insiders must fill out a Form 4 for when buying or selling stock or options. You can easily check if there is a form filed on a stock here
Many times the form 4 buying will signify a big move to the upside coming potentially, but an insider could sell for any reason.
They could sell because they want a new house, they need to pay for their child’s education, they want to transfer money to another investment, or potentially a divorce settlement.
So you never really know why behind a sell, but a buy tends to be stronger than a form 4 sell.
Wouldn’t you want to know before these forms pop up 3 days after the transaction. You can see these transacions in the darkpool.
The Dark pool was established back in the 1980’s. It was established for people that have those massive orders to get better fills and better commissions.
When you are trading 1 mill shares you can get a discount on the fees and the best fills. Another reason to use the darkpool is to keep that order out of the public eye.
They do have to report those trades, but they have up to three hours after the trade is complete to report these trades. This where you can learn about the prints before the news and before the form 4s are reported.
This is where you truly get an edge before the news and the insider reportings.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you would like to be in Training Pit with me sign up here or if you want one on one training you can email me jane@thedarkpools.com You can contact me here or Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
I will explain fully what Stocks to Trade in this post. I first learned of Stocks To Trade as a Millionaire Challenge student of Timothy Sykes.
I was using Equityfeed at the time and Tim wanted to create something that was better than Equityfeed for trading.
As with all trading softwares the initial software is developed initially for the funding partners and then it will evolve over time. The initial version of StocksToTrade was released back in 2009.
At that time it was fairly basic with the charting , alerts of highs and lows of the day and the use of level 2 and indicators.
For the basic version of StocksToTrade monthly costs you are looking at a 14 day trial for $7 and then a cost of $179.95 per month or an annual version for $1899.50 a $250 a year savings.
What you could do is if you like it on the 13th day upgrade to annual and you have saved more than $250 getting those additional days for $7.
You have the ability to add the Level 2 Market depth for $29.00 each month.
The Add on of Tip Ranks Trade Sentiment would be an additional $8.95 each month.
The cost of adding the Chat Channel is $6.95 per month.
So if you go for all the bells and whistles then you could be spending $179.95+$29.00+$8.95+$6.95 = $224.85 a month ( x12 for a year $2698.20)
I’m not sure if they would give you a deal if you buy the annual and you would like to get level 2 or the chat for the whole year as well. You would likely have to email them to find out.
The customer service is quick to rely and resolve issues if they do occur.
All of the Features in StocksToTrade have been developed by traders for traders. I remember when I first started using the platform back in 2016 and they were taking feedback from all the users.
Emailing them to find out what the liked and what they didn’t like. The honest true of trading platform is that you are never going to be able to find one platform that is going to fit all traders.
Here are some of the top features that are amazing with StocksToTrade.
First off it is a great scanning tool and the ability to see on the chart as well as set the alerts for stocks breaking new highs or new lows on the day.
There is the feature of being able to see the premarket and postmarket price action.
The Oracle with the 15 proprietry algo scans to find setups is pretty awesome as well.
The ability to have the all in one screen is great for single screen laptop traders to have the news, SEC filings, Price action, Charting and the linking to your broker all in one spot.
The Stocks to Trade University is amazing as well for new traders to be able to watch videos to educate themselves more, which goes with the hand in hand feature of papertrading capacity.
Any Time that a platform will allow you to train on their software it makes it easier to place real money trades later as understanding the software, especially with penny stock trades is crucial.
For me the cons are that they Level 2 is an add on feature. I am someone that absolutely loves to see the orders lined up on the books.
The Time and sales will help you see the past, but the orders lined up can help you to view where the stock might stall or reverse for that day trade.
Another con for me could be a plus for someone else. I like to have multiple screens going and the ability to take my charts off the main page and enlarge them.
StocksToTrade all in one screen has tabs where you can see the price action at the top of each tab, but you can’t open that chart on another window as far as I have figured out.
One minor detail but a big one for me is I like to have the ability to set up a custom timeframe on the chart. I like to watch the 45 minute chart.
To let you know my evolution I used to love the 1 minute, then the 2 minute, then the 5 minute and now the 45 minute chart. I have also gone more from a scalper to a intrady trade or swing trader after seeing the bigger moves tend to come overnight.
Overall the platform has alot of amazing attributes. Not every platform out there will give you a free trial, but half a month is pretty good.
The development of the alerts on the chart is pretty cool as well as the all in one to find out stock information such as the filings, news and social sentiment.
The trading world is evolving at a fast pace and I believe the two biggest competitors for scanning and alerting stocks are StocksToTrade and TradeIdeas
I hope my personal review and perspective on StocksToTrade helps you in your decision making. I truly believe the software that you use is a personal preference.
There are some amazing features and attributes with the software, but Trade Ideas is my number one for stock alerting software and using AI in trading.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you would like to be in Training Pit with me sign up here or if you want one on one training you can email me jane@thedarkpools.com You can contact me here or Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
There are so many people out there that are curious about Trade Ideas Software. They have been an innovator in the fintech marketplace starting all the way back in 2002. Let me give you a little taste of many of the positive attributes and who uses the software
The Founding Team of Trade Ideas consists of Dan Mirkin, CEO, Brad Williams, COO, Shari Mirkin, CFO, Phil Smolen, Senior Managing Partner, David Aferiat, Senior Managing Partner and Jamie Hodge, Director of Education.
It is a no wonder that the company is one of the fastest growing companies for Inc 5000 3 years in a row.
Now that you know a bit about the team lets get into the software.
Trade Ideas for Day Trading or Swing Trading
The answer to that is that Trade Ideas is a software meant for day traders, scalpers, swing traders and investors. The reason is because you can customize the Trade Ideas Scanner to pick up the stocks that interest you.
Many times next question to come after this is does Trade Ideas have a free demo that I can try for my trading?
The costs of the Software ranges on what service you prefer to use
You can see that the Annuals will save you roughly 17% monthly in the long run. Many times they do have promotions going on and if you have subscribed as a monthly user for the Standard plan you can apply that promo code to upgrade to Premium or to an Annual.
The next best thing to free is a one of the quarterly test drives for roughly $11.11 or the data fees to access the real time data. This is the best for someone that really wants to experience all the features available.
Stock Market Scanners
There are plenty of stock market scanners out there to find stocks for you. You can find gapping stocks. You can find stocks with earnings and so on.
Lets get into the nitty gritty of Trade Ideas
Below is the Channel Bar of different premade channels you can surf. Much like a Television there are different channels for you to sear the stocks you like to focus on in trading.
You can see that there are over 40 channels that you could search to find stocks on things such as
Premarket, Banks, Social Media, Gapping Stocks, Low Float, Earnings, Biotechs, 420 in Play and more.
There are 5 channels that are also devoted to the AI Holly Thy have written a couple different versions of the Artificial Intellegence Trader and you have the option to follow one or all of them at once.
The AI has over 40 different Strategies that have been written in to search for stocks after the market closes each day. Not only that but they have written the code of Holly to get smarter and better everyday.
that have been written in to search for stocks after the market closes each day. Not only that but they have written the code of Holly to get smarter and better everyday.
Automated Stock Trading
The way of the future the retail trader fighting against algorithyms. Why not fight the algos with an algo of your own.
Trade Ideas has set up a select few brokers that will allow you to Auto Trade with your account.
Below is the performace of Holly for 2018 and you can see it out performed the indexes for 2018 and optimizes itself to get smarter and better every night when analyzing the market.
The Software is so well liked in the trading community that there are numerous well known traders and trading rooms that use this software.
Warrior Trading Scanners – Ross Cameron
Bulls on Wall Street – Kunal Desai
Madaz Money – Madaz
Dekmar Trades – Sean Dekmar
and 1000s of other retail and even institutional traders.
Customer Service and Support
The team at Trade Ideas prides themselves on having amazing customer service. There is no one in India that is going to return your message these are all part of their team.
They go above and beyond with trying to give their customers support. The free trading room is just one of the support features out there.
They have developed a small series of videos to help traders learn the absolute basics called Back to Basics.
They also created 4 different free ebooks to help traders with your trading strategies.
They have started their own annual Trade Ideas Summit out in San Diego with many amazing speakers. This years will be the weekend of October 26th and I am happy to be participating again for the 4th year in a row.
When you subcribe to the premium products you can sign up for one on one training personal training to help you fully understand the possibilities of the software.
Or you can set up a one on one training if you simply want tips and potentially winning alert windows as well.
So what are you waiting for?
Have you tried it? You can always try it for free every day as well in the Free Trading Room It is a free room to try to help traders, but also to advertise the software.
Barrie Einarson is the moderator in the room and will try to help you understand the software and how it works. For more in depth questions it is good to email support.
So if you are in the trading world and have not yet tried Trade Ideas I highly recommend a trial of some sort that fits you.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you would like to be in Training Pit with me sign up here or if you want one on one training you can email me jane@thedarkpools.com You can contact me here or Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
Many people become accustomed to the same platform and same information to analyze their stock charts on a daily basis. As with technology and the movement of algorithms, comes development of some amazing new products.
Trendspider is a newer player in the world of Fintech with the latest in charting technology and they are advancing quickly.
The concept of Trendspider began back in 2016 when Dan and Rus the founding partners set out to build a new type of charting platform. A platform that you help you to make more profits and simplify your analysis.
The is the latest and greatest now in charting technology to help a trader with a plan succeed with more profits and fewererrors. Their alerts are “head and shoulders” above the rest as they state right on their site.
The company is global with people working around the world in Chicago, Denver, India, Russia, and Ukraine. As of September 2019 they presently have over 4000 traders using and helping to improve the software with feedback.
A newbie in the fintech world, but as you read the pros and cons below you will quickly understand how they are here to stay and thrive all while helping traders along the way.
When you are a trader it is important to understand the overall trend of the stock in the big picture to know if you are going with the masses or trying to stand out and be different and go against the trend.
I am one that is definitely a non-conformist in life, but in trading being a conformist with the trend is a benefit. Riding that trend until the chart tells you otherwise is a smart idea.
The Automated Trendlines that are drawn by Trendspider are a life changer especially for a newbie trader that might not have any clue about how to draw the trendlines.
Not only does the software draw the trendlines for you, it allows you to spend more time analyzing instead of spending time doing the work of drawing the trendlines.
You might be saying to yourself did she make a mistake typing Candlesticks and Raindrops. Nope there is no mistake there.
Trendspider has developed a proprietary candlestick that incorporates the volume into each candlestick. It is a way of being able to see how the volume affected that particular candle.
You can see this can help to capture the order flow in each individual candle. The Neutral raindrop (blue or purple candle)can sometimes help to point out the reversal point.
If you have ever spoken to a trader that has been in the trading world for a while they will almost always advise you to look at a stock on multiple time frames before you make your ultimate decision to place that trade.
Well this is another point the Trendspider has gone above and beyond. They have a special feature that you can turn on and off where you can overlay the trendlines and indicators on one chart.
It’s literally mind blowing that no one created this sooner. I mean when you are trading don’t you want to have your moving averages from the daily chart on your 5-min chart.
You can see on the chart the MTFA that is circled in yellow that is the toggle on off area. You can also see on this 5 minute chart how the double bottom that was created happens to be the 8 ema on the daily and that is right where the price action stopped.
Do you think it is a coincidence that the price action stopped right there or that there might be computer programs set up to buy there. The more you see this happen in time you begin to trust the indicators that you use.
It is tough to see the MACD as well has the overlay of the daily MACD on top of the 5 min chart. I know some people choose to have the Daily RSI versus 5 min RSI as well as indicators for potential entry.
Now lets touch on the areas that could use more innovation. I have no doubt the partners will likely read this review and see that there are other areas of expansion for the future that might make it to the update list.
The Risk Management Plan
One Tool that is great for traders is the ability to calculate risk before entry. Having the ability to calcuate risk is invaluable for entry and exit points
I’m sure that this is likely coming where you might be able to draw on the chart and have a box pop up to enter the amount of the risk if it goes against you and the profit potential and have that plot on the chart.
It would also be good if this could lock as to the day you enter to track you trade visually and show the profit that you were able to lock and share to fellow traders.
Order Book
Being able to see the order book where the orders are stacked up also helps to innovate the tool as a one stop shop for a trader that might want to see the bids and asks.
Even to be able to have an add on of the different ECN books for a surcharge. The data is coming in and potentially there for the trader to use as well but only if they want it in depth.
Stock News
We know that the market will usually have the positioning happen before the news is released, but it is still nice to have the ability to access the news.
Maybe the ability to link to the website of your choice Yahoo Finance, CNBC, CNN or another news service to see what is happening especially if there is a large intraday move.
The Different Trendspider Subscriptions
Trendspider Plans
Trendspider Compare Plans
Trendspider Plan Limits
Trendspider Analysis
Trendspider Backtesting
Trendspider Alerts
Trendspider Alerts
Trendspider is definitely the latest innovator in the trading world. If you know of new software that you find useful please let me know as I would love to try out the latest and greatest as well.
As of August 2019 I have partnered as an educator in The Training Pit that was created to help people learn from zero knowledge or to reset your training.
I hope this post has helped you learn a bit more about the Trendspider software. As you can tell, I find that helping people is very fulfilling and the whole reason why this blog began in 2015. If there is something that you would like me to cover please leave in the comments below.
I love hearing feedback from you. It makes my trading more personal and I like to hear how I can help you. If you would like to be in Training Pit with me sign up here or if you want one on one training you can email me jane@thedarkpools.com You can contact me here or Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
