Trading Resources

When you are an active day trader there are certain tools which are essential to your success in penny stocks. Below is a list of the trading tools that we recommend for analyzing charts, stock scanning, trading executions, real time news and more. These are tools that we personally use on a daily basis and are extremely useful.

Medved Trader: For more 15 years I have used this charting software to analyze charts and perform technical analysis. In my opinion it is the best software available because it has everything I need to view the market in a way which allows me to earn consistent profits. On top of this, no exaggeration, the creator of the software Jerry Medved, provides the worlds best customer support. His team responds to support requests usually with in minutes at all hours of the day. Furthermore, they are constantly updating the software and willing to take requests for new features. The software is free forever to try with just one chart. With that said, you will need one of their reasonably priced memberships to fully take advantage of all the features. I also have a few tricks to get free stock data which can save hundreds per year . Give it a try and I promise you won't want to trade without it.

Scanz: You can have a profitable trading system, but if you don't have any way to find trading opportunities or you aren't willing to spend countless hours per day manually analyzing charts, you will have a difficult time making money. The fact is, in day trading you absolutely need a real time stock scanner. This is where Scanz comes in. I have been using Scanz, (which was formerly known as Equityfeed, and prior to that Microcap Trade, since 2004) as my primary intraday stock scanning software for many years. Scanz is hands down the best intraday stock scanner for OTC penny stocks as well as small-caps. Although the software isn't cheap, it pays for itself hundred times over every month and fortunately, they offer a 7-day trial so that you can test it out for free.

Das Trader Pro: I've used Das Trader Pro software for 15 years. In my opinion it is the best trade execution software for active day traders. Not only does it allow fast executions through direct access brokers, but it also provides ECN rebates, real time level quotes and basic stock scanning. In the past I have used other trading execution software such as Litespeed and Sterling Trader Pro and Real Tick, but I still prefer Das Trader. Although the chart capabilities aren't ideal, the keyboard short cuts and level 2 trading, make this software an asset for day traders. Fortunately they have a free 14-day trial which will allow you to test out the software in demo mode.

Benzingo Pro: Although Scanz offers a real time news subscription service, as a backup I also utilize a service called Benzinga Pro. This is a real time news filtering service which provides a unique squawk feature which actually will read the news headlines to you in real time so that you can focus on your other software and get faster executions. They offer a free 14 day trial so that you can test out their service and see if it is worthwhile for you.

BamSEC: This is a website which I use for checking SEC filings and reviewing financial statements. In my opinion it's one of the best because it's easy to use and provides an incredible amount of information that is often overlooked but most retail traders. If you are looking to learn fundamental research then you should try out their service with a free trial and see if it is suitable for you.

Best Charting Software

Best Stock Scanning Software

Best Execution Software

Best Fundamental Research Software

Best Real time News Service

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