#TradingTools101 # **Trading Tools 101: Essential Tools for Traders**

Whether you're a beginner or an experienced trader, having the right tools can make a significant difference in your success. Here’s a breakdown of essential trading tools you should know about:

## **1. Charting & Technical Analysis Tools**

- **TradingView** – Advanced charts, indicators, and social trading.

- **MetaTrader 4/5 (MT4/MT5)** – Popular platform for Forex & CFD trading.

- **ThinkorSwim (by TD Ameritrade)** – Powerful charting & analysis for stocks & options.

## **2. Stock Screeners & Scanners**

- **Finviz** – Free & paid stock screening with filters for technicals & fundamentals.

- **Trade Ideas** – AI-powered real-time stock scanning.

- **Benzinga Pro** – News & stock scanner for active traders.

## **3. News & Market Sentiment Tools**

- **Bloomberg Terminal** (Premium) – Institutional-grade market data & news.

- **Reuters Eikon** – Financial news & analytics.

- **Twitter/Reddit (r/wallstreetbets, r/stocks)** – Crowdsourced sentiment & trends.

## **4. Algorithmic & Automated Trading**

- **QuantConnect** – Backtesting & live trading with Python/C#.

- **Alpaca** – Commission-free API trading.

- **Zerodha Streak (for Indian markets)** – No-code algo trading.

## **5. Risk Management & Position Sizing**

- **Position Size Calculator** – Helps determine trade size based on risk.

- **MyTradeSize** – Calculates lot sizes for Forex/CFDs.

- **Excel/Google Sheets** – Custom risk & portfolio tracking.

## **6. Economic Calendars**

- **Forex Factory** – Key economic events & volatility forecasts.

- **Investing.com Economic Calendar** – Covers global market-moving