Home Trading Strategies Best Trading Platforms & Software For Beginners (2020)

Best Trading Platforms & Software For Beginners (2020)

Best Trading Platforms & Software For Beginners (2020)

hey hey what’s up my friend so in today’s video I want to share with you right trading platforms and software for beginners because you know if you are just getting started in your trading journey you don’t know putting money into premium software platforms and tools where you might not even use it right you want to start with things that are mainly free and still get the job done so in today’s video I want to walk you through what are some of these trading platforms and software then you should look at right especially if you are new to trading so we’ll discuss about different charting platforms we will talk about the different screeners then you can use to screen and scan the markets we will talk about how you can stay up-to-date to financial news the economy calendar as well as you know how to get access to trading Journal so all this and more in today’s video but first right if this is the first time you are watching this video or my video or the ten-time to anytime right here’s what I want you to do right hit the thumbs up button and subscribe to my youtube channel the links below hit subscribe this way whenever I publish a new video you’ll always be updated sounds good then let’s get started so the first thing I’ll talk about is a charting platform right what is a trader without charts all right unless you’re a scalpel away you just read the order flow then you know any chance but most of us we meet chance so here are few charting platforms that you can look at number one trading view so trading view is a clock based platform meaning that you know if you don’t have to install any software I can just go to the website trading view calm and you’ll see something like this okay see something like this so for example they have chats for the stock markets the futures markets the forex markets so for example like this is the forex market don’t like and if you want stock right like Apple okay just click on this Apple you’ll give you the chat of Apple right then you can insert it on your usual stuff right support resistance trendline yadda yadda right so sir horizontal line can draw your let’s say a trendline you know you want to have indicators can plot in your indicators from there there are huge library of indicators you go to the public library can see that there’s just a lot of indicators down here right if you want to look at the for example built-ins again there’s so much down here all right if you want to think of something just type in moving average it’s going to come on all the different types of moving average right if you want custom indicators there is as well there are people who actually create custom indicators and they they share it on trading view again you can find it all over here for example let’s say I don’t count not those days right kill no channels you can see this one right it’s developed by this person called bream bream le right then you have one by IBR ypc right by Khepri comm right so we can see that they have you know like kind of like a liking voting system on the Keltner channel indicator which are developed by this different people so you can see that our trading view it’s a lot of bells and whistles a lot of features on it offers data on a lot of markets as well and primarily the data is end-of-day data for stock right if you want intraday data for stock right I think this one you have to pay money for it but and update data it’s free okay so this is trading view for you and you can even have your watchlist of markets and it all the hurry if you want to so trading viewer I pretty much know covers almost uh most markets number to take on stream right so this is a platform that is dedicated to mainly stock traders and it looks something like this okay think on stream so you can see over here this is the tingle stream platform again if you want to look at you know different markets again they have futures they have stock let’s say you’re on google running for google ok click on this this is the chart of google again again you’ll have different drawings you know support resistance stuff like that if you want to have you know patterns you know select patterns all this chart patterns you can select it you can throw your typical indicators yeah together okay so this is the tingle sweep platform and one thing to note that this is a desk top platform this is unlike the trading view which is a cloud-based this is on a desktop so you have to install they are software and you know you look something like this ok so let’s move on so the next one I want to share with you it’s our t4 right so for those of you who trade Forex you are probably familiar with mt4 and p4 is also a desktop based software alright it’s possibly one of the oldest r4 trading platform up there and the reason why it’s so popular right there is it actually it’s popular how do I know that is I did a poll in my Facebook group and I realized that mt4 came up at top right for forex trading why it’s popular because it’s fast it’s very fast it’s very responsive right if you just see that you know I just click online see Aussie dollar the chat pretty much loads instantaneously by let’s say open a new chat line I don’t go see pretty quick right if I go from chat to chat euro dollar or the end pound yet it’s fast okay then you have your usual indicator so you have you can have custom indicators you program it yourself or you get it from other traders we have programming you can just install into the folder you have trending indicators oscillators yadda yadda stuff like that okay so this is mt4 for you this is a primary primarily right for those of you who trade Forex and CFDs okay so those are the three platforms right which are good right for beginners right the three charting platforms moving on screener so what if you want to screen the markets for certain trading setups right number one you can look at fin V’s so fitting this is primarily to screen stocks right because stocks we have like you know thousands of stocks out there you know if you’re gonna look through the charts I look for 52-week highs it’s gonna take forever so this is where fin v’s comes into play okay so you can see over here you go to fin viscom go to screener you can screen by exchange market camp earnings you can screen possibly using a technical analysis right go to technical right different type of technical analysis you can you know screen based on moving average Average True Range 52 week high low right on the screen based on fundamentals it’s all possible as well on Phineas so as I’ve said right this is mainly for stock traders and again right this is a free version if you want to go premium right I believe you have additional bells and whistles that you can look at but again right before you sign up for premium check out the free one first if it’s good if it’s you know what you need then consider upgrading right that’s the simple simple guideline to follow okay so that’s a fin vist for you second one it’s taking a swim right so if you recall that was the charting platform I mentioned earlier and it actually allows you to also you know scan the markets for trading set up you go to scan alright and for example over here you can have the scanning criteria like for example this one right let’s say you want to scan and uh how about only stocks in the Russell 1000 and this is the scanning rule right this pretty much is looking for stock net as close the highest right the highest close over the last 40 weeks I mean yes easy s is close to the highest right over the last 14 weeks right then you just click scan right it’s gonna spit out all the stocks that actually meet this criteria of course you can you know just a criteria you know to however you want to click and it can change all this it’s up to you right so this is the thing or swim platform again it’s about very powerful platform right to scan for stock trading setups you can customize the parameters until very exact and I would say it’s very powerful for technical traders especially if you wanna scan for breakouts you want to scan for 52 we closed you wanna scan for maybe the price 5% above the 50 period moving average whatever right this can be done on the thinkorswim platform okay so moving on trading view okay you also have a scanner on trading view for those of you who are unaware okay just let me just get it out okay the scanner where it is is good to hear again go to get a stock screener again you can get scanned based on you know let’s see alright filters again you can have a descriptive scan fundamental scan technical scan right it’s all here on trading view and I believe you can scan more than just a more than just stocks you can even scan the forex market let’s see if I put a Forex pair okay then over here I just for a screener crypto screener whatever right so it’s all on here as well on trading view feel free to explore and play with it mix one economic calendar so it’s a trader right for me personally I am not too concerned with news because I trade off the higher time frame my stops are usually wide enough right to accommodate the the swing from the news release but for traders will trade off the lower timeframe right you want to be aware of news you know in case you get sudden spike and you get stopped out how do you stay updated so what you can do is number one you can check out in Stinkum right I think this is is really good right it has news for example let’s see then you go to tools and economy kolender click on this you can see that over here you have all the different news release from all the different countries right like for example you know swiss franc is coming up news in 7 minute the impacts are pretty smaller this is just one one whatever I call this one one one one boo right to boo and three bullies high impact okay so four thirty later right British pound news coming up high impact news right the retail sales for July and you can see that they have all the the news over here right laid out for you for today that’s for economic calendar and even tell you you know when a major holiday coming up right if I click holiday you can see that which markets are on holiday right this one over here they list out earnings right for those of you who trade stocks you want to know what are the earnings news coming up you click earnings you get all this earnings coming up from all these different companies then you know dividends splits IPO whatever it’s all here okay so investing come out say it’s a very comprehensive right have covering you know affects stocks and much more but for those of you who solely trade FX or ident here are not a couple of more news calendar website you can look at right forex factory and Forex life next one training Journal okay so so this is a very important but most traders are just can’t be bothered right to have a trading journal they don’t take trading seriously but since you’re watching this video you know how important a trading journal is so I know you’re serious about trading so how how can you create your own trading journal first one is Excel free of charge I don’t even need to look off up a single cent and the key thing that you need right to to join now in your trading journal is number one the date the market you’re treating this name of your trading setup the entry price to stop-loss exit price any are multiple so what is our multiple so let’s say for example you have a profit of a one two three risk reward ratio there is a profit of three are because you had three times your initial risk okay or maybe you made a profit of five are you are multiple you put five because you profit of five times your initial risk so on on excel it will look something like this very simple stuff just put in the date print an instrument you’re trading the setup name right FB for me is false break the entry price to stop lost the exit price and our multiple gain on the particular trick so once you know you have many trading setups or you take many trades right after which you can start to filter your your trading setup and identify which are your most profitable trading setup which trading setup actually it’ll cost you money very simple just go to setup you go to a filter okay it can just filter let let’s say for example I just want it false break click OK you just show you all in all right when you treat a false break setup but how profitable it is right so me you might have three or four setups all right you can filter them accordingly when you have a decent sample size of traits so Excel it’s uh it’s enough right I mean if you’re just getting started there’s more enough for you to you know have decent analytics to know you know what’s working and what’s not but if you are no too lazy you don’t want to do it right you can look at to this couple of trading journal you have trading view and each one they are trading journal that you know specializes in helping you record and analyze your trading results right you know the wind rate the analytics right your emotions how you’re feeling and stuff like that they have all those features as well if you want something that is a paid option right so these two are a paid option okay so with that said let’s do a quick recap right so for charting platform you can look at you know trading beauty go stream mt4 screen or your fin V sting or swim trading view it’s gonna be calendar investing calm forex factory Forex life and trading journal is accel trade of view and each one okay so all this right I hope it’s uh it’s enough for you to get started on your trading journey right most of them are actually free try out the free stuff first if it works for you if you think it’s worth to invest in the premium one then go for it so with that’s it i have come towards the end of this video right there by the way i’m not sure which charting platform and software you’re using right so leave a comment below and let me know right what trading platform and software you’re using right and feel free to share with the rest with that’s it i will talk to you soon you


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