StockFetcher Forums · General Discussion · Suggestions for tools needed for non-active (day) traders.<< >>Post Follow-up
itrademan
70 posts
msg #42747
Ignore itrademan
4/5/2006 11:16:51 AM

I am not an active trader and will like some guidance about the basic stuff that I will need for my kind of trading (Swing).

I am using

1. SotckFetcher -To find the stocks and correct entry points
2. StockCharts or Prophet – Charting historic data
3. Ameritrade Izone – I use this as a brokerage and am paying $3 - $5 per trade. Yeah it does not have all those high end features like ‘one trigger other’ and ‘one cancel other’ etc. But their charting is better than Options express allowing 2-3 indicators at a time for real time quotes.
4. Options Express – I use it for virtual trading (opened it a few days back with non-funded account). If required I will put some minimum amount.
5. Yahoo Finance – To read the finance news. Especially the Top rated IDB section on Monday to find possible new preys to track (Hence no need for monthly IDB subscriptions).
6. MSN money – For fundamental analysis search. Not used much. But looks good to query ‘Institutional holdings’ and ‘EPS’ etc.. I think it is better than Yahoo.


Are there any suggestions that I can improve.

Also, is there any site that can tell us the calculated best option price for a stock (I mean free)?

Do I require the Nasdaq level II for finding the early hours trend for my swing trading entry?

Are the other sites that rate the top rated companies e.g. MSN Scouter ratings etc. that are free but can provide valuable companies to hunt our preys.



TheRumpledOne
6,358 posts
msg #42750
Ignore TheRumpledOne
modified
4/5/2006 12:47:12 PM

Use:

www.ddmachine.com

www.shrewinvesting.com.

www.stockscores.com

www.tradingday.com - free level II great for pre/post market.


So many sites, so little time!



itrademan
70 posts
msg #42758
Ignore itrademan
4/5/2006 3:34:04 PM

Thanks TRO for those links,






traderblues
195 posts
msg #42759
Ignore traderblues
4/5/2006 3:47:44 PM

Don't forget www.prophet.net


itrademan
70 posts
msg #42763
Ignore itrademan
4/5/2006 5:07:22 PM

Thanks Traderblues,

I do use that with stockcharts.



traderblues
195 posts
msg #42764
Ignore traderblues
4/5/2006 5:55:27 PM

Oh yeah, I see that in your post now. I have always liked www.clearstation.com, also.

I will sometimes watch Level II pre-market if some news came out on a stock, but only for stocks I am holding and am thinking of selling. Otherwise, I feel that Level II is not very beneficial for my style (I hold stocks anywhere from a few days to a few weeks). It just adds to the noise.


itrademan
70 posts
msg #42765
Ignore itrademan
4/5/2006 6:07:46 PM

Good tip for me as I too like to hold for few days.




StockFetcher Forums · General Discussion · Suggestions for tools needed for non-active (day) traders.<< >>Post Follow-up

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