Novice Trader, Looking for software advice

Discussion in 'Trading Software' started by deepcsuf, Dec 20, 2005.

  1. deepcsuf


    Good day everyone!

    I am a novice trader looking to get myself into the market.

    I have been doing a lot of research and I know that software cannot make trading decisions for me although it can help me make better trades through analysis.

    I've read so many of the software reviews on this webpage and there is no clear answer to what is the best software package for the dollar.

    There are a couple software packages that have stood out from the rest of the pack....

    1. Omnitrader - My father purchased this software back in the 90s never really used it, I can upgrade to omnitrader 2006 for $149

    2. Tradestation

    3. Amibroker

    I know using these pieces of software require knowledge of TA, which i have been studying about through books and the internet.

    The style of trading I am going to use is swing trading...

    Can anyone please make some recommendations on what software I should purchase...I am leaning towards omnitrader because it has been in business for such a long time and it only costs $149 to upgrade to the newest version, although I have heard so many bad things about confused, please help!
  2. you may want to indicate what your requirements are. There is no such thing as a perfect program. Each one has its advantages and disadvantages.
  3. deepcsuf


    Well my requirements would be the following:

    1. Automatic scanning of stocks that fit into certian TA tests.

    2. Stable

    3. Others have been using and are sucessful with the software

    4. Support (user groups, fourms)
  4. Are you also going to be asking which stocks to buy and sell, just like your "choice" of software?
    Way to go, bud. That's what I call independent thinking.
  5. deepcsuf


    No, im not going to ask what stocks to buy and sell, thats my job to figure that out.

    I just want some feedback on software that will help me make better trades...

    I don't want to rely on all this shady sales literature that is out there about all the software.

    Any help?
  6. Real-time, end of day or both?
  7. deepcsuf


    End of Day only....
  8. The "feel" of the program is important and is something personal.
    End of day packages are fairly inexpensive. The better ones do both. I like tradestation.
    Consider also telechart2000 (tc2000) from worden bros. The data is included. The data goes back some 15-20 years. But again *you* have to be comfortable with the program.
    Best thing is to try their introductory (usually free) offers for 15-30 days to see which you like better.
    As for "learning" technical analysis? Don't get too excited. Most of what you "learn" won't make you a dime.
    Good luck.
  9. deepcsuf


    Hey, thanks for the words of wisdom
  10. Disqplay


    I used omnitrader for about 2 years and located better stock trades by just listing about 250 stock downloading the data using HQUOTE pro into stock share program and using sma 5 34 and 78 to give me better trades than what was produced by omnitrader.
    #10     Dec 20, 2005