<p id="isPasted">It’s not about having the best tools for trading, it’s about having the right combination of trading tools.</p><p>Every profitable trader I know uses a specific stack of complementary tools to manage their entire workflow.</p><p>You’ll need a broker, trading software, charting software, scanning software, technical indicators, and more.</p><p>But trading is one of the most competitive industries in the world – as a beginner, you need every advantage you can get. You can substantially increase your odds of success by using the right combination of tools for trading.</p><p id="isPasted"><strong>1. A Strong Trading Platform</strong></p><p> To place a buy or sell order and start investing in the stock market you need a brokerage account.</p><p> There are hundreds of brokers to choose from, however, they all have their own strengths and weaknesses. As a trader, you need one that’s fast, secure, and easy-to-use.</p><p id="isPasted"><strong>2. A Stock Market Simulator</strong></p><p> Open a demo account and start trading with $100k in virtual funds. You can practice your orders, try investing in different assets, start discussing ideas with other traders, and learning trading strategies from top investors all without risking any of your own money.</p><p id="isPasted"><strong>3. A Charting Software</strong></p><p id="isPasted"> Now that you’ve got a brokerage account to actually place trades and (hopefully) a demo account where you can practice trading risk-free, it’s time to learn how to chart.</p><p> Successful charting is what profitable day trading boils down to – you need to learn how to accurately predict future price movements.</p><p> And to chart successfully, you need a fast, reliable, and easy-to-use software.</p><p><strong>4. A News Source</strong></p><p id="isPasted"> One of the most frequent reasons for outsized volume is a news catalyst. Earnings beats or misses, recalls, test results, big purchase orders, analyst upgrades – the list goes on.</p><p><strong>5. A Stock Screener</strong></p><p id="isPasted"> Instead of scanning for tickers across numerous headlines, a good screener will compile all of the stocks making the biggest moves and show the volume, price, and other data to help you quickly decide whether you should take a look at its chart for a potential entry.</p><p id="isPasted"><strong>6. A Trade Journal</strong></p><p id="isPasted"> A trade journal is one of the most underrated tools for traders – it’s simple, but it’s highly effective. I didn’t appreciate the effectiveness of this little tool until I tried it for myself – there’s a reason almost every experienced trader recommends using one.</p><p><strong>7. Trading Education</strong></p><p id="isPasted"> A premier education can save you from “figuring things out on your own”, an expensive and headache- inducing way to learn how to trade.</p><p><strong>8. A Mobile App</strong></p><p id="isPasted"> I highly recommend trading from a computer and (ideally) with multiple screens.</p><p> But if that’s not an option or you also want a way to chart and trade on-the-go.</p><p id="isPasted"><strong>9. Your Favorite Technical Indicators</strong></p><p id="isPasted"> Any list of the best technical analysis tools for stocks should include indicator recommendations.</p><p> Indicators are a trader’s best friend. </p><p> Technical indicators are what traders use to predict price movement and typically involve measuring price action and/or volume over time.</p>
<p id="isPasted">It’s not about having the best tools for trading, it’s about having the right combination of trading tools.</p><p>Every profitable trader I know uses a specific stack of complementary tools to manage their entire workflow.</p><p>You’ll need a broker, trading software, charting software, scanning software, technical indicators, and more.</p><p>But trading is one of the most competitive industries in the world – as a beginner, you need every advantage you can get. You can substantially increase your odds of success by using the right combination of tools for trading.</p><p id="isPasted"><strong>1. A Strong Trading Platform</strong></p><p> To place a buy …</p>
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