#TradingTools101

Trading Tools 101: Essential Tools for Every Trader

1. Charting Platforms

TradingView: Extremely popular for technical analysis; has a wide variety of indicators and drawing tools.

MetaTrader 4/5 (MT4/MT5): Preferred for forex trading; supports automated trading with expert advisors (EAs).

2. Broker Platforms

Examples: TD Ameritrade (Thinkorswim), Interactive Brokers, Robinhood, eToro

Features vary, but look for low fees, fast execution, and good support.

3. News & Sentiment Tools

Benzinga Pro, Bloomberg Terminal, Yahoo Finance

Keep you up to date on market-moving news and events.

4. Technical Indicators

Moving Averages (MA, EMA)

Relative Strength Index (RSI)

MACD (Moving Average Convergence Divergence)

Bollinger Bands

Fibonacci Retracement

5. Risk Management Tools

Position size calculators

Stop-loss/take-profit settings

Volatility indicators (e.g., ATR)

6. Screeners

Finviz: Great for stock filtering based on technical and fundamental criteria.

Crypto Screener: Tools on CoinMarketCap, CoinGecko, or directly on TradingView.

7. Backtesting & Strategy Simulators

TradingView Pine Script (custom strategy testing)

QuantConnect, Amibroker