Terabit Trader – Guaranteed $20K Per Day Software

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Scalp to freedom 10-20 pips a trade. guaranteed?

257 Pips, One Afternoon, One Rusty Old Indicator (— spreads = 225 pips —)

DISCOVER SCALP TO FREEDOM K.I.S.S. (Keep It Simple Sweetie) FOREX TRADING SYSTEM

Let’s give 6 pips average from not getting out at best — below still seems to give: 177 pips in an afternoon??

I put the good old indicator “Forex Freedom” which appears to tell whether the CCI is over or under the zero line on 4 different timeframes. The BIG question is is this indicator going to give accurate readings of the past?

It would be very very simple to put this through strategy tester. The settings I have on the chart below are M5, M15, M30, M30 as the timeframes and all the CCIs set to 2.

All the entries on the chart below give at least 10++ pips – some give 30++ pips. Colored rectangles are of no significance. Exit needs idea. Stop loss is + spread + 1 pips below previous candles high/low which means every signal is a winner according to my chart.

Although this indicator repaints severely, I’m banking many pips with this indicator (and other systems). There was a run this afternoon (19-9) that gave 100 pips in an easy a way as making a peanut butter sandwich.

The signals are giving a potential 200 pips daily so start banking before the effect wears off. It’s my gift to traders. But use with caution. The market will have you out if you don’t use your head even if there is a signal.

This thread has some LIVE trade updates when I have the inclination. To see who coded this indicator, someone may comment on this thread or look inside the mq4 attached.

Each potential entry is on CLOSE of marked candle/ OPEN of next candle due to entry being signalled by close with all forexfreedoms same color then enter on open of next candle.

Update 23/3/10. I am willing to share my best trade calls with a few forex traders (50 max). You will get entry, stop, take profit and money management. Approx 2 trades per week at present. HERE.

How Much Can You Make as a Day Trader

It’s the question at the tip of every aspiring day trader’s tongue: How much money can I really earn from day trading?

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Since most day traders do not disclose their actual trading results to anyone but the IRS, an exact answer to how much money an average day trader makes is impossible to answer. The results, moreover, will vary widely given the various trading strategies, risk management practices, and the amount of capital individual traders are working with.

To be sure, it is very easy to lose money day trading, which is why we recommend educating yourself as much as possible before you even think about trying it. In their 2020 research paper “The Behavior of Individual Investors,” Professors Brad M. Barner and Terrance Odean at the University of California, Berkeley revealed that individual investors who traded actively and speculatively without diversified portfolios typically lost money over time.   Day traders can also incur high fees from transaction costs, so picking the right broker and creating a manageable trading strategy with proper risk management is very important.

Key Takeaways

  • Day trading is a risky but potentially lucrative activity, where traders try to take advantage of intraday price movements and trends.
  • Several factors will come into play in determining your potential upside from day trading, including starting capital amount, strategies used, the markets you are active in, and a bit of luck.
  • Real day traders take their job seriously and can maintain a nice living if they remain objective and disciplined and stick with their strategy.

What Day Traders Do

Day traders make money by buying stock, commodities, currencies or other trade-able securities and holding them for a short period of time— anywhere from a few minutes to a few hours—before selling them off again. Day traders usually enter and exit trading positions within the day and rarely hold positions overnight, except in the Forex Market. The focus is on profiting from short-term price fluctuations. Day traders can also use leverage to give themselves greater power to buy and sell. This can be extremely risky, so beginners should not attempt this strategy.

One of the key components of locking in your gains and minimizing your losses is setting stop/loss and profit-taking points for your trades and not taking on too much risk per trade. Professional traders like David Green recommend not risking more than 1% per trade based on the size of your portfolio. If your portfolio is $50,000, the most you should risk per trade should be $500. Not letting one bad trade wipe you out is key to managing your risk. If you stick to the 1% risk strategy and set your stop/loss and profit-taking points, you can limit your losses to 1%, and take your gains at 1.5%, but it takes discipline.

How to Get Started in Day Trading

Getting started in day trading is not like dabbling in investing. Any would-be investor with a few hundred dollars can buy some stock in a company they believe in and keep it for months or years. Under FINRA rules, pattern day traders in the equities market must maintain a minimum of $25,000 in their accounts and will be denied access to the markets if the balance drops below that level.   This means day traders must have enough capital on top of that to really make a profit. And because day trading requires a lot of focus, it is not compatible with keeping a day job.

Most day traders must be able to live off their profits from trading and be prepared to risk their own capital every day to make those profits. In addition to the minimum balance required, prospective day traders need to be connected to an online broker or trading platform and have the right software to track their positions, do research, and log their trades. Brokerage commissions and taxes on short-term capital gains can also add up, so day traders need to factor all their costs into their trading activities to determine if they can do it profitably.

Earning Potential and Career Longevity

An important factor that can influence earnings potential and career longevity are whether you day trade independently or for an institution such as a bank or hedge fund. Traders working at an institution have the benefit of not risking their own money. They are also typically far better capitalized and have access to advantageous information and tools. There are also many independent trading firms that allow day traders access to their platforms and software, but require the traders to risk their own capital as well.

Other important factors that contribute to a day trader’s earnings potential include:

  • Markets you trade: Different markets have different advantages. Stocks are generally the most capital-intensive asset class. However, you can start trading with less capital with other asset classes, such as futures or forex.
  • How much capital you have: If you start with $3,000, your earning potential is much less than someone who starts at $30,000.
  • How much you put into training: To achieve consistent income—where you have a solid trading plan and are able to implement it—it will likely take a year or more if you dedicate yourself to it full time. If you only practice part-time, it may take a number of years to develop real consistency and attain satisfactory returns.

Of course, there are millions of independent day traders worldwide who work for themselves from their home offices and are able to earn a living. Some have even become very wealthy, but there are no guarantees. Practice, developing a strategy, and managing your risk can help get you on your way.

Example of a Day Trading Strategy in Action

Consider a strategy for day trading in which the stop/loss is $0.04 and the target is $0.06. If your account balance is $30,000, the trader decides that his maximum risk per trade is $300. With a $0.04 stop loss, you can take 7,500 ($300/$0.04) shares on each trade and stay within your $300 risk cap (not including commissions).

Remember, to take 7,500 shares, the share price must be below $16 (attained by $120,000 in buying power divided by 7,500 shares). If the per-share price is more than $16, you’ll need to take fewer shares. The stock also needs to have enough volume for you to take such a position.

Here’s how such a trading strategy might play out:

  • 60 trades were winners/profitable: 60 x $0.06 x 7,500 shares = $27,000.
  • 45 trades were losers: 45 x $0.04 x 7500 shares = ($13,500).
  • Your gross profit would be $27,000 – $13,500 = $13,500.
  • Your net profit, which includes the cost of commissions, is $13,500 – commissions ($30 x 100 = $3,000) = $10,500 for the month.

Of course, this is all theoretical. Several factors will reduce your take-home profit. The reward-to-risk ratio of 1.5 is used because it is fairly conservative and reflective of the opportunities that occur all day, every day in the stock market.

The starting capital of $30,000 is also just an approximate balance to start day trading stocks; you’ll need more if you wish to trade higher-priced stocks.

The Bottom Line

Day trading is not a hobby or an activity that you can do every once in a while if you are serious about doing it to make money. While there is no guarantee that you will make money day trading or be able to predict your average rate of return over any period of time, there are strategies you can master that will help you set yourself up to lock in gains while minimizing losses.

It takes discipline, capital, patience, training, and risk management to be a day trader and a successful one at that. If you’re interested in becoming a day trader, review the best stock brokers for day traders as the first step is to choose the right broker for your needs.

Software

Day trading software is the general name for any software that helps you analyse, decide on, and make a trade. It may grant you access to all the technical analysis and indicator tools and resources you need. The best software may also identify trades and even automate or execute them in line with your strategy. Whether you’re after trading software for beginners, or as an advanced trader, with more options than ever before, doing your research has never been so important.

Firstly, you’ll find out precisely how these software packages work. This page will then highlight what to look for from your broker’s software offering, whilst breaking down forex software, stocks software, and others in detail. It will also touch upon software demo accounts, equipment and the regional differences to be aware of.

Best Trading Software 2020

How Trading Software Works

Online day trading software can be broken down into four categories:

  • Data – Before you start trading for the day you need to know the prices of the stocks, futures and/or currencies you want to trade. For stocks and futures, those prices will usually come from the exchange where they are traded. Forex, however, doesn’t have a central exchange.
  • Charting – Smart traders will usually chart prices in charting software. Many vendors will also offer data feeds. These charting packages usually offer basic technical analysis indicators. Opt for a more advanced package and you can benefit from more indicators and the ability to backtest your strategies.
  • Trade execution – With your data to hand and after analysing it on a chart, at some point you’ll want to enter a trade. For that, you’ll need some sort of trade execution software, an electronic trading platform. A lot of software today will also allow you to develop your own trading strategies with an application programming interface (API). They may also offer you automated trading capabilities specifically for day trading.
  • Broker vs independent vendor – A lot of brokers will offer software directly linked to their in-house systems, but you can also use third-party applications through independent software vendors with brokers that support such integration. The benefit of third-party solutions is that they often have more advanced features and enable you to trade with several different brokers with one single interface.

Tools

Mac or Windows?

When choosing your software you need something that works seamlessly with your desktop or laptop. Any crashes or technical issues could cost you serious profit. Fortunately, the day trader is no longer constrained to Windows computers, recent years have seen a surge in the popularity of day trading software for Mac.

MetaTrader4, for example, is the worlds most popular trading platform. It’s user-friendly, so combined with an easy to navigate Mac, it’s ideal for both beginners and veterans. But whether you’re looking for the best trading software for Mac or Windows, check reviews to ensure the technical tools, data feeds, portfolio trackers, backtesting capabilities and any other features you require won’t run into compatibility hurdles. In addition, make sure the initial trading software download is free. Reputable brokers shouldn’t charge you for the installation privilege.

Mobile Day Trading Software

You can also get extremely useful mobile trading software, normally in the form of an app on iOS and Android. These aren’t designed to replace desktop applications as they lack in the capabilities area. They are best used to supplement your normal trading software.

Make sure when choosing your software that the mobile app comes free. A good app will provide succinct market updates, trends and the usual stock price tickers. If the app overloads you with information that pushes you towards impulsive decisions, stay clear.

What To Look For

Brokers will often offer standard software, but if you want additional features that may be essential for your strategies then you may have to pay significantly more. So conduct a thorough software comparison before you start trading with your hard earned capital.

Cost & Need

  • Does it meet your needs? – There is no one size fits all. Different trading software will suit different people. Are you following a simple stocks strategy such as moving average tracking? Alternatively, do you want to employ a more complicated multi-conditional strategy? Will you need a direct forex feed? To make sure it caters for your needs get a free software download trial and practice day trading on it first.
  • Cost – How much does day trading software cost? It’s all too easy to opt for the cheapest trading software. Whilst this may save you money in the short term, you may be sacrificing essential features your strategy requires. Adding these features later may cost you even more than if you’d invested in a comprehensive software to start with. Also, check to see if the software is available as part of the standard brokerage account, or does it come at an additional cost?

Technology

  • Execution speed – Time is money and nowhere is that truer than in the day trading world. Ensure your software will allow you to enter and exit trades swiftly. Check reviews for any trade execution red flags. A few seconds could be the difference finishing being in the red or black at the end of the day.
  • Accessibility – Is it a web based software offering? If so, you’ll need just an internet connection to get online, plus you’ll have zero installation, update and maintenance costs. Web based trading software is the best option for beginners. However, if you employ extremely complex algorithms, you may need a computer based installable software. Bear in mind this will be a far more expensive route to go down.
  • Features – Day traders rely on short term price movements to turn a profit. What does your strategy need to monitor these price fluctuations? Will you need charts, particular data feeds, news sources, specific market access? If so, check whether these will be included as standard.
  • Analytics – Does your strategy depend on technical indicators and pattern recognition? Will the software recognise arbitrage opportunities? A comprehensive analysis software will provide you with all the analytical features you need in one user-friendly bundle.

Forex Trading Software

Which is the best forex trading software available on today’s market? With hundreds to choose from, finding the right software for your needs isn’t a straightforward decision. The first question to ask would be ‘what information, resources and tools do you need to enhance your forex strategy?’

Below are some of the most popular currency trading software available:

  • Trading platforms – These enable you to manually manage and execute forex trades.
  • Trading signal generators – These will provide you with recommended levels for which to enter and exit positions.
  • Technical analysis software – These will offer you charts of historical exchanges rates, plus a wide range of technical indicators.
  • Automated forex trading software – Once you’ve pre-programmed your rules and strategy, these programmes will automatically execute trades on your behalf.

Stocks Trading Software

With today’s volatile market trends, picking the right stock trading software is essential. It is often said that there are very few stocks worth trading each day. That means identifying them before they make their big move will be what separates the profitable traders and the rest. Before you purchase, always check the trading software reviews first.

In addition, look for the following capabilities from your software:

  • Market scanning – The programme should scan the market for potential opportunities and swiftly draw your attention to stocks of interest.
  • Charting software – These will help you decipher market conditions, so look for software that keeps their charts user friendly, or even offers customisability options.
  • Portfolio tracking – This will help you keep a close track of all previous trades, helping you to identify mistakes and hone your strategy.
  • Backtesting The software should enable you to backtest your trading systems against historical data, giving you an idea of whether and how successful your strategy will be, before you risk real capital.

Other Instruments & Markets

On top of the software for the instruments above, you can also get your hands on the following:

  • Commodity trading software – There’s a rich supply of international trading software for the commodities markets. Plus, you can get your hands on some of the best free online trading and charting software around.
  • Bitcoin day trading software – As the market is still growing, there are new options popping up every month. You’ll also find some of the best trading simulator software, that’s probably free.
  • Emini trading software – Emini options continue to grow, so you can choose between generic systems, or specialist Emini software. You’ll also find lots of good scalping software options, with plenty of reviews on software forums.
  • Penny stocks software – There is healthy competition, so if you’re looking at where to buy the best trading software for penny stocks, a quick Google will answer all your prayers in abundance. You can also find easy to use buy and sell signal software for penny stocks.
  • Software for NSE – You can find free trading software for Indian markets, or you can choose from the ever growing options.
  • Software for cryptocurrency – You can choose between robot, prediction software, or you can find plenty of manual options. You can also now get your hands on useful virtual money management software to keep your online wallet heavy.

Journal Software

Day trading journal software allows you to keep online log books. Why would you want that? Because they keep a detailed account of all your previous trades. They record the instrument, date, price, entry, and exit points. This allows you to not only fill in your tax returns with ease, but also to analyse your recent trade performance. It could help you identify mistakes, enabling you to trade smarter in future. This makes it some of the most important intraday trading software available.

Make sure when you compare software, you check the reviews first. Even the ones that proclaim to be one of the ‘top 10 day trading software’, can have some serious drawbacks. Also bear in mind, the easiest trading software won’t necessarily be the best. If it’s easy because it falls short of the essentials outlined above, your bottom line may suffer.

Having said that, consider the popular and well regarded options below:

  • MetaTrader – Market leading multi-functional trading platform. Integrated with many leading brokers.
  • TradingView – The leading charting package with a wealth of technical analysis tools and the ability to build and back test strategies. Can also automate trades, and copy trade.
  • Linux software – Considered some of the fastest real time trading software around.
  • JSE software – Considered one of the best futures day trading software available.
  • MCX analysis software – One of Tim Sykes highly recommended trading software systems.
  • TD Ameritrade – Some of the best live and virtual day trading software available, scoring particularly high in US reviews.
  • Etrade software – Nifty trading software, that’s fast, reliable and used by traders of all levels.
  • Consors software – This German software offers some of the best trading simulation software for free.
  • AlgoTrader – This is ideal if you’re looking for customisable, open source software to implement automated strategies.
  • NinjaTrader – allows developers to build their own integrated indicators.
  • ZuluTrade – Automate trades or copy trading signals or traders. Popular in the US.
  • eToro – Leading Social Trading network. Copy profitable traders – or become a ‘leader’ and earn when other traders follow your trades.

Software Strategies

Choosing the right software is a hugely important decision, but part of that decision comes with ensuring that it works harmoniously with your day trading strategies. If you’re trading forex using a simple price action strategy, then you may have everything you need with your broker’s standard program software.

Tools such as TradingView can also help you build and back test strategies, including using your own code if desired.

However, if you have a complex strategy you may need software that has all the indicators and technical tools at a few clicks notice, to ensure you make fast and accurate decisions. Your strategy needs are likely to be greater and you may require optional advanced features that are often expensive.

Demo Accounts

If you want to test a specific software before committing to it, the best way to do it is a “demo account”. A demo account is a form of practice account where you trade for free with “play money” using the real software and its features. It’s a great way to trial softwares, strategies and your own skills and is something we highly recommend. We list all trading demo accounts here.

Regional Impact

Tailored for specific markets

The best trading software for Australia and Canada, may fall short of the mark in Indian and South African markets. This is simply because the software in India can be extremely different to Australian softwares. Spider software, for example, provides technical analysis software specifically for Indian markets. But if you want to trade stocks in the West, you may find that software from far afield won’t give you all the access to data feeds and news resources you need to successfully trade.

There’s also the question of cost. You can get plenty of free charting software for Indian markets, but the same powerful and comprehensive software in the UK, Europe, and the US can often come with a hefty price tag. So, make sure your software comparison takes into account location and price.

Tax Considerations

The same principle applies to day trading tax software. The accounting software needs to be able to accurately calculate how much tax is payable to your country’s specific body, the IRS for example. Apart from wasting your time, any tax errors will fall on your lap, as will any fines.

Final Word On Location

If you’re British, do your homework and find out what the best trading software specifically for the UK is. If you’re Canadian, check you won’t encounter any tax problems if you invest in accounting software from South Africa.

Take Home Points

It’s worth bearing in mind that your choice of broker can restrict the tools available to you. Free day trading software may seem like a no brainer to start with, but if it comes with the sacrifice of technical tools that could enhance trade decisions then it may cost you in the long run. Remember the best day trading software for forex may not cut the mustard when you use it for stocks, so do your research and consider all the factors outlined above. Most importantly, you wouldn’t buy a car without test driving it first, and your day trading software shouldn’t be any different.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Trading, Strategies and Robots
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: