There are you are, back at it, day trading again. Maybe she’s forgiven you for all that money you lost back in 2000. Or maybe she divorced you because of it. Or perhaps you’ve lost your job and this is your last shot in a job market that, well, pretty much sucks.
Whatever, you’re back in the day trading business. But that business has changed. No longer can you play a quote spread, or rely on that space to cushion your downside. No, today the spread is a whopping one cent. No room for error here. It’s no longer a spread game, it’s a momentum game, and you better guess right.
Of course, you’d prefer not to guess at all. After all, you’ve got your research, charts and data, and you’ve still got your gut (just possibly more of one, in a very real sense, than you had back in ’99).
But something tells you that you need something more.
What you may need is day trader software.
Information has always been power in the day trading game. That and a strong constitution with nerves of steel. Quick hands don’t hurt either.
Today’s day trading software has come a long way since the boom-boom days of the late 90s. No longer is it just about real-time data feeding of market trades, and if you had a deluxe version, the bids and asked queued up behind the action.
No, today it’s all about instant access to, and analysis of, historical trading ranges, juxtaposed against volume, momentum and a contextual frame of reference to the market itself. Far more than you can wrap your head around, especially in the fraction of a second it takes to make up your mind about a trade.
Now there is trading software that does that analysis for you.
Using parameters you input according to your level of risk and preference, the software will flag buying and selling opportunities for your immediate consideration, and instantly offer up any backing data you’d like to give you the chops to push the enter key.
Some online outfits provide the same services, while some investors prefer to own the system themselves, requiring a pretty hefty desktop computing package.
But then, investing in a system that gives you an edge is a safe bet in any market. And with the price of these trading systems, it’s a serious investment, indeed.
