This document is a guide to finding the software that is best suited to trading on-line.

Other than your broker, the software that you use to trade with is one of the most important decisions you can make. If you are going to trade every day or try to make a living trading, then the software you use should give you real time, direct access to your account and the Markets. This is often called DAT (Direct Access Trading), and will let you trade with the pro's. Watching a stock take off or fall at a breathtaking pace while you sit there waiting for your order to be processed is not fun. In fact, it can cost you hundreds or thousands of dollars. If the software you are using can not get you in and out of a stock within five seconds, then it will eventually cost you money.

Rule #1. Choose a software package that has Direct Access Trading.

The software is of course only as good as the tools that it provides. Some of the features that you might expect are: Level II (2) quotes, Charts with various indicators such as Bollinger Bands, Momentum, etc., access to your account information, NASDAQ Futures, News, Stock quotes with buy/sell activity in real time, access to online help if and when you need it.

Some of our members use a variety of software that gives them the options above instead of just one program. This can sometimes be cheaper than getting it all in one package. Whatever route you decide to take though, make sure that you are using the essentials.

Rule #2. Use Level II Quotes
Rule #3. Use Charts with indicators
Rule #4. Use NASDAQ Futures Quotes

If you are trading without these, then you are trading in the dark. While it's possible to be successful without these primary tools, it's also unlikely to last. There are good traders and bad traders, but there are no bad veteran traders. The veterans (pro's) know how to read the markets, and you can learn too. Start with the right tools for the job.

Stock Traders Daily makes no specific recommendations as to what software you should use. We will present a list of packages and links to help get you started though. The broker that you choose may depend upon what software you can use. So, when searching for the right software make sure that you have chosen the right broker as well. Each of the items or links below meet our minimum requirements for trading. Please note this is just a partial list of the hundreds of software programs available, but it should get you started in the right place.

CyberTrader - http://www.cybertrader.com

E-Signal - http://www.esignal.com

RealTick - http://www.realtick.com

TradeStation - www.tradestation.com

S&P Xstream Quotes - http://www.spcomstock.com/products/na/xstream/pr_na_xstream.html