Trading Tools

A brief list of tools that I use everyday to help me research and navigate the financial markets.

Websites:

Tradingview.com: Free web based real time data (mostly) and charting software linked to a community that allows you to share ideas, chat, and learn from others.

Stockcharts.com: Free web based charting software, chartschool explaining basic technical analysis, and a community of members for you to share ideas with, teach and learn from.

Tradingeconomics.com: Provides news, historical data, and forecasts for economic indicators for the major countries and markets worldwide. In addition it provides a calendar of upcoming economic events for the selected countries and time period. This allows you to quickly see the date, time, indicator, time period that indicator covers, and the trend of that data.

Stocktwits.com/Twitter.com: It may seem contrary to look for investing or trading ideas on social media websites as you may not know who is posting an idea, why they are posting it, and more importantly, you do not know the structure of their portfolio and how that idea fits their risk profile. Nonetheless these sites can be a great tool to interact with other market participants, learn from their analysis, and become aware of things you may have missed on your own. Even if you don’t agree with their opinion it’s still a value add because it got you thinking from a new perspective. Also, as a bit of a contrarian I find it helpful to keep track of the sentiment of the stock I am following to look for overly bullish/bearish situations.

Insidermonkey.com: A useful site in keeping track of insider buying/selling activity. Their search function also makes it easy to keep track of hedge fund holdings, so you can see who the major holders of your stock are.

Avafin.com: Provides various market data including unusual options activity, block trade, and order flow data for a variety of asset classes.

Indexuniverse.com: Provides fund flows data for a variety of asset classes. It can be a helpful tool in assessing where institutions are, or aren’t, putting money to work.  

Finviz.com: Provides many free tools ranging from insider transactions and futures data to a community forum where you can collaborate with other market participants.

Etfdb.com: Useful database tool to screen ETFs and check if the stock you’re analyzing is a significant part of a certain ETF, and if so, what its weighting is. Great way to look for comparable stocks when judging whether or not a certain security is showing relative strength or weakness compared to its peers.

Timingcharts.com: Great for commitment of traders data on custom time frames. Allows you to select which database and outputs you’d like to use.

SentimenTrader: This is not a free tool, but it is a one stop shop for sentiment analysis. They do offer free 14 day trial, which I would highly recommend taking advantage of. This is one of my favorite websites on the planet.

Brokerage Platforms:

TD Ameritrade: By simply signing up for an account you receive access to most of what this site has to offer. This includes use of the ThinkorSwim Desktop Platform and web based Trade Architect; both of which provides you with tools including watch lists, stock screeners, chartin,g and more. In addition, both the desktop and web based platforms include free real time data, level two quotes, time and sales data, and many more helpful tools.

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