Page 24 - Trading #101 Course – Part One: Trading Basics

TRADING #101 COURSE – PART ONE: TRADING BASICS /2017-10-06

Chapter 4:

Selecting a Charting Platform, Broker & Data

Feed

Once you have determined what your trading and investing needs are you will be better
prepared to select the best tools for the job.

Three areas we will cover in this section are:

• Charting Platform
• Broker
• Data Feed

Charting Platform

Today’s technology has changed the landscape of trading dramatically from only 10
years ago. The speed of execution and the availability of extensive trading tools and
products for a very reasonable price have altered the industry as we know it.

This ties in with the power of today’s front-end charting platforms. They can do almost
anything; they can seemingly even get you a cup of coffee in the morning. (When they
can do that, sign me up since coffee is my primary essential vice!) From enabling
traders to place trades with their broker right from their chart, to automating trades and
scanning for opportunities in the market, the possibilities of what front-end charting
platforms can do for you are endless.

Each front-end charting platform has individual strengths, just like brokers and data
feeds, so you will need to again identify your needs and find the best match. Your task
is to determine what you need to get the job done for the least amount of cost and
overhead.

Use the “Factors to Consider” checklist to create a “pros & cons” list for each platform to
determine which is the best for you.

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