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Pre-Market Day Trading Preparation, Part Deux


Following up on the last post (see entry immediately below), there is one other web site I consult before trading each day.

It is critically important that you know of any news releases scheduled to be announced during the trading day. This is especially true of economic reports.

There are several sites you can consult for economic reports. Here are a couple:

Every quarter you should also be aware of when certain companies are making their earnings announcements. This is especially true if you trade those stocks, or they are major stocks that could influence the entire market.

Again, there are several sites that will supply this information, but here’s a couple:

Remember, news is VERY important – more important than technical analysis.

Never forget the well-known saying: “News Trumps Technicals.”

Pre-Market Day Trading Preparation


Today we continue with Part 2 of my answer to an email sent in by a student (see the last entry in this blog for Part 1 and to read the letter and the questions).

I used to do a lot of preparation for each trading day. Now, after many years of trading, I’ve simplified things tremendously and don’t do much preparation at all. However, there are a couple things I ALWAYS do before the market opens, and this video will show you exactly what they are, including the 2 web sites I consult before the opening bell.

Please leave your comments by clicking on the green “Comments” link at the very bottom of this entry and if you found this video helpful, post it to one of the Social Bookmarks below that you belong to.

Improving Already Successful Day Trading


A student recently wrote and asked me a couple questions which have been asked before, so evidently there are a lot of readers wondering the same things. I’ll answer the 2 questions with 2 different videos.

Today – Part 1: How to improve your successful day trading.

Stay tuned for Part 2 of this video.

Please leave your comments by clicking on the green “comments” link at the very bottom of this entry.


The Most Popular Charting Software is …


Recently I took a survey of my students asking which charting software they use.

This is only a small sample, and therefore not necessarily representative of which software is the most popular in the world, or even the US. It only reflects the responses I received from my students who responded to the survey.

I received hundreds of responses and thought you may be interested in the results. So here they are, rounded to the nearest whole number (you’ll notice that they total more than 100%, and that is because many people use more than one software for charting):

  1. Ninja Trader: 42 %
  2. Tradestation: 30 %
  3. Meta Trader: 27 %
  4. Interactive Brokers: 21 %
  5. eSignal: 18 %
  6. MetaStock: 16 %
  7. Think or Swim: 14 %
  8. GFT: 13 %
  9. Ensign: 12 %
  10. Telechart: 12 %
  11. FXCM: 12 %
  12. TD Ameritrade: 8 %
  13. Fidelity: 6 %
  14. MultiCharts: 6 %
  15. E Trade: 4 %
  16. Schwab: 4 %
  17. NeoTicker: 2 %
  18. QCharts: 2 %
  19. Other: <2 %

Have any opinions or comments about charting software? Leave your comments below.