Resources for Trading
The following are a collection of resources that have been utilized by experienced traders to enhance their trading strategies, research, and overall market understanding. These resources encompass data providers, charting tools, educational websites, and other valuable services that can support traders at various levels. While there are numerous excellent sites and services available, the ones listed below have been selected based on their reliability, quality, and utility in real-world trading scenarios.
Data and Research
Accurate and comprehensive data is the backbone of successful trading. The following resources provide high-quality historical and real-time data, as well as advanced analytical tools to support in-depth market research.
1. TickData
TickData offers extensive historical intraday data on futures markets. Their datasets are meticulously cleaned and come with user-friendly software that allows traders to divide data into customizable time segments and easily download it into Excel and other analytical applications. The platform is known for its excellent customer support, ensuring users can effectively utilize the data for backtesting and strategy development.
2. Pinnacle Data
Pinnacle Data provides a comprehensive collection of daily and weekly historical data covering various markets, with records dating back to the 1920s in some cases. Their offerings include advance-decline statistics, new highs/lows, indexes, volume, VIX, as well as weekly monetary data, interest rates, sentiment, and breadth indicators. The data is easily exportable to Excel and other analytical tools, making it a valuable resource for long-term market analysis and historical research.
3. RealTick by Townsend Analytics
RealTick is a robust trading platform that offers real-time data and advanced charting capabilities for stocks, futures, and options trading. The software includes a wide array of built-in studies and customizable charting features. Traders can manually download intraday data from their servers or set up dynamic data exchange (DDE) links to automatically populate Excel spreadsheets, facilitating real-time analysis and monitoring.
4. Salford Systems
For traders interested in data modeling and predictive analytics, Salford Systems provides powerful tools like CART (Classification and Regression Trees) and MARS (Multivariate Adaptive Regression Splines). CART is ideal for categorical data analysis, helping predict outcomes such as market direction, while MARS handles continuous data regression. The software is user-friendly given its advanced capabilities, and the website offers informative papers and resources to help users maximize these tools.
Online Charting and Market Information
Staying updated with real-time market information and having access to advanced charting tools is essential for effective trading. The following resources provide comprehensive market data, technical indicators, and charting capabilities.
1. DecisionPoint
DecisionPoint is a premier online resource for technical analysis data. The site offers an extensive array of charts covering indicators, indexes, sectors, interest rates, and more across various time frames. Unique features include advance-decline statistics specific to the S&P 500 and Nasdaq 100, as well as proprietary indicators like the Price Momentum Oscillator (PMO). The platform also facilitates quick scanning of multiple individual stock charts, aiding in efficient market analysis.
2. MSN MoneyCentral
MSN MoneyCentral serves as a comprehensive financial portal offering insightful columns on trading and investing, including contributions from renowned experts. The site provides extensive data and research tools for individual companies and features a useful stock rating system called StockScouter, which offers ratings and analyses similar to those found in Value Line reports. Additionally, the platform offers a wealth of information on personal finance, making it a versatile resource for traders and investors alike.
3. Lowry Research
Lowry Research delivers daily and weekly market reports via PDF, summarizing market action through a variety of proprietary indicators such as "Buying Power" and "Selling Pressure". The service tracks unweighted measures of stock market performance and provides actionable market timing signals. Known for its solid and methodical approach, Lowry Research is a valuable tool for traders seeking to understand underlying market dynamics.
4. Quote.com
Now part of Lycos Finance, Quote.com offers a Java-based real-time quotation and charting service at an affordable price point. It serves as a reliable backup data source and is particularly useful for monitoring markets in real time when active trading is not feasible. The main dashboard provides updates on major indexes, S&P premiums, and NYSE TICK, with easily adjustable chart time frames for flexible analysis.
5. Barchart
Barchart is a multifaceted platform offering extensive data and charting services. The site provides statistics on the number of stocks meeting various technical analysis criteria, such as moving average crossovers and momentum indicators. A standout feature is the performance tracking of different indicators for specific stocks, summarizing buy and sell signals and corresponding profits or losses over two-year periods. The platform also includes a customizable watchlist for real-time monitoring of multiple stocks.
Educational Websites and Information Sources
Continuous learning and staying informed are critical components of successful trading. The following websites offer valuable educational content, market insights, and up-to-date news to help traders make informed decisions.
1. Google News
Google News is an essential tool for accessing the latest news from a diverse range of international sources. The platform aggregates stories across various topics, including finance and economics, and updates rapidly to provide real-time information. Traders can customize their news feed to follow specific industries, companies, or economic indicators, ensuring they stay informed about events that may impact the markets.
2. Daily Speculations
Daily Speculations is the official website of renowned speculators Victor Niederhoffer and Laurel Kenner. The site features a rich collection of market insights, analysis, and commentary, as well as occasional market predictions. Readers who appreciated the book *Practical Speculation* will find the content engaging and thought-provoking, offering unique perspectives on market behavior and trading strategies.
3. Deutsche Börse
Deutsche Börse provides comprehensive coverage of European markets, offering real-time data and analysis on large-cap DAX stocks, as well as small and mid-cap German equities and technology issues. The site features regularly updated intraday charts of major indexes like the DAX and Euro Stoxx 50, helping traders monitor European market trends and understand their potential influence on American markets, particularly during pre-market hours.
4. Briefing.com
Briefing.com is a valuable resource for staying abreast of economic reports, including release schedules and consensus estimates. The platform offers timely market updates throughout the trading day, providing concise summaries and analysis of market movements. Additionally, it features insightful company and industry news, aiding traders in understanding broader market contexts and potential impacts on their portfolios.
5. Trader's Library
Trader's Library is a comprehensive online bookstore specializing in trading and investment literature. The site offers a wide selection of books covering various topics, often at discounted prices. They also host conferences and seminars featuring industry experts and publish their own educational materials, making it a valuable resource for traders seeking to expand their knowledge and skills.
Trading Platforms and Tools
Utilizing reliable and efficient trading platforms is crucial for executing trades effectively and managing portfolios. The following platforms and tools provide robust functionalities tailored to meet the needs of active traders.
1. Breakout Futures
Breakout Futures offers the MiniMax II swing trading system developed by Mike Bryant. The system is well-documented and reasonably priced, supported by excellent customer service. Mike actively trades the system himself and provides real-time performance results online, along with periodic improvements and an informative newsletter for subscribers. Traders interested in systematic trading approaches may find this resource particularly beneficial.
2. LBR Group
Run by renowned trader Linda Bradford Raschke, LBR Group provides extensive training resources for traders. The site features numerous articles and interviews detailing various trading strategies and methodologies. Additionally, their chat-based services allow members to observe Linda and her team implementing these strategies in real time, with periodic guest lecturers contributing further educational content.
3. Woodson Wave Report
The Woodson Wave Report, authored by Dale Woodson, offers market timing services based on Elliott Wave analysis. Despite skepticism around Elliott Wave theory, Dale's track record includes accurate intermediate-term market calls, earning high rankings in publications like Timer Digest. The newsletters provide clear and informative analysis, offering actionable insights at a reasonable subscription price.
4. Formula Research
Formula Research, led by Nelson Freeburg, is a premier service for traders interested in system development and testing. Each issue presents a new, thoroughly tested trading system complete with comprehensive disclosure and documentation. The service is affordably priced and covers a wide range of trading strategies across different markets, including bonds, currencies, and equities. Back issues and some systems on disk with historical data are available to subscribers. For a complimentary issue, interested individuals can contact Nelson at (800) 720-1080.
Publications and Magazines
Staying updated with industry developments and learning from expert analyses is essential for continuous improvement in trading. The following publications offer a wealth of information through well-researched articles, interviews, and reviews.
1. Active Trader Magazine
Active Trader Magazine provides a variety of insightful articles catering to both experienced and novice traders. Under the editorial guidance of Mark Etzkorn, the publication delivers well-researched content covering trading strategies, market analysis, and industry trends without oversimplifying complex topics. It serves as a valuable resource for traders seeking to enhance their understanding and refine their trading approaches.
2. SFO Magazine
SFO Magazine (Stocks, Futures, and Options) is a reputable publication featuring a broad range of articles on trading techniques, industry news, and market analysis. Edited by Gail Osten, the magazine maintains high standards of integrity and consistently delivers informative content suitable for traders across different markets and experience levels. Contributions from industry experts provide diverse perspectives and practical insights.
3. Technical Analysis of Stocks and Commodities
Technical Analysis of Stocks and Commodities is a well-established magazine offering extensive coverage on trading methodologies, interviews with prominent market figures, and comprehensive reviews of trading products. Over the years, it has been a consistent source of innovative ideas and educational content, helping traders stay informed about the latest developments and techniques in technical analysis.
4. Futures Truth
Futures Truth is an excellent resource for traders interested in mechanical trading systems. The publication tracks system performance in real time and offers insightful articles on system development and trading strategies. Led by John Hill, who is recognized for his integrity and expertise, Futures Truth provides objective and reliable information to assist traders in evaluating and developing effective trading systems.
Miscellaneous Resources
These additional resources offer various services and tools that can support different aspects of the trading process, from brokerage services to supplementary market insights.
1. Brown & Company
Brown & Company provides competitive brokerage services tailored for stock and Exchange Traded Fund (ETF) traders. With commissions as low as $5 per trade and responsive customer service, they offer a cost-effective solution for traders focusing on longer-term positions. Execution quality is generally high, with fills closely matching real-time market data. While active day traders may prefer direct access platforms, Brown & Company offers a solid balance of affordability and reliability for many trading styles.
By leveraging these diverse and reliable resources, traders can enhance their market analysis, improve their trading strategies, and stay informed about the latest developments in the financial markets. It is essential to evaluate and select tools and services that align with your trading objectives and to continually seek knowledge and insights to support informed decision-making in the dynamic world of trading.
