#TradingTools101 Here’s your essential guide to **#TradingTools101** – covering platforms, indicators, scanners, and must-have resources for traders at all levels:
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### **1. Trading Platforms**
**For Retail Traders**:
- **ThinkorSwim (TD Ameritrade)**: Advanced charts, paper trading, on-demand analysis.
- **Interactive Brokers (IBKR)**: Low fees, global market access.
- **TradeStation**: Powerful backtesting & automation.
- **MetaTrader 4/5 (MT4/MT5)**: Popular for forex/algo trading.
**For Active/Day Traders**:
- **NinjaTrader**: Futures/forex focus, customizable strategies.
- **LightSpeed**: Ultra-fast execution (for scalpers).
**Mobile-Friendly**:
- **Robinhood**, **Webull** – Simple UI, fractional shares.
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### **2. Charting & Technical Analysis Tools**
- **Free**: TradingView (best for multi-timeframe analysis), Finviz (heatmaps).
- **Paid**: Bloomberg Terminal (institutional-grade), TrendSpider (automated trendlines).
**Key Indicators**:
- Trend: **EMA/SMA, MACD, Ichimoku Cloud**.
- Momentum: **RSI, Stochastic Oscillator**.
- Volume: **VWAP, OBV**.
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### **3. Stock Screeners & Scanners**
- **Finviz**: Filter stocks by fundamentals/technicals.
- **Benzinga Pro**: Real-time news + unusual volume scanner.
- **Trade Ideas**: AI-powered alerts (e.g., breakout candidates).
**For Options Traders**:
- **Barchart**: IV rank, unusual options flow.
- **OptionStrat**: Visualize strategies (spreads, iron condors).
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### **4. Risk Management Tools**
- **Position Sizing Calculators**: (e.g., MyTradeSize).
- **Stop-Loss Tools**: Trailing stops, guaranteed stops (on IG, Saxo).
- **Volatility Measures**: ATR (Average True Range), VIX index.
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### **5. News & Sentiment Trackers**
- **Real-Time Feeds**: Bloomberg Terminal, Reuters Eikon.
- **Social Sentiment**: StockTwits, LunarCrush (for crypto).
- **Economic Calendars**: ForexFactory, Investing.com.
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