Recommended Tools and Software
These are some of the tools and software that we can highly recommend for traders. There are other items that will be added soon.
Charting and Trading Software
Linnsoft Investor/RT
Investor/RT is the main charting platform that we recommend. The reason for this is the high standard of tools available, that have been developed over a number of years. It includes incredibly powerful volume tools such as volume profile.
Investor/RT is a complete charting package, market analysis and trade execution solution used world-wide by sophisticated traders and active investors, featuring connectivity to market data and execution services
*Free trial requires a valid credit card and will show the monthly price of the subscription. Your credit card will be charged this amount after the 2 week trial period, unless you decide to cancel the service via Linnsoft.com beforehand.
Sierra Chart
Sierra Chart is a highly capable charting platform that is significantly more affordable than IRT. Subscribing to package 5 ($33/month) gives you access to Volume & Market Profile and Numbers Bars (similar to IRT’s Volume Scope). Datafeed compatibility includes DTN IQFeed, S5 Trader, CQG, Rithmic and TT amongst others.
Sierra Chart provide a 15 day free trial of the platform.
Market Data
DTN IQFeed
DTN IQFeed is the data feed that we recommend at Convergent Trading. It provides vast amounts of historical 1 minute and tick data in most of the products that you are ever likely to be interested in and its live data is fast, reliable and highly accurate. For use with Volume Profile and Volume Scope charts, this is a must as you need to be confident that what your chart is displaying is correct.
BROKER FEED VS DEDICATED DATA FEED LIKE IQFEED: It is important to note that a broker/execution feed CANNOT provide as accurate of tick data as IQFeed or another high end dedicated data feed can. The technology used for execution is based on FIXAPI and it prioritizes accuracy of the latest information over accuracy of the historical information. When you execute, you want to know that the last quote is accurate and that your trading platform isn’t waiting to correct historical data. To do this, it will often skip a string of ticks to bring you the latest whenever there is an issue with your connection, a fast market or whatever. Hence, there is no execution feed out there that is absolutely accurate historically in ticks.
– FuturesTrader71
*Free trial and special offer do not include live data, which is billable as an additional charge. IQFeed trials are limited to 5 sessions of tick and 1 minute data and 365 days of daily data. The full version provides 180 sessions of tick data, 20 years of 1 min data.
Professional Market News Services
Homework Tools
TechSmith Snagit
Snagit is a must for trader who intends to employ deliberate practice. Easy screen image capture and annotation. Also includes a screen recorder.
Simple, Powerful Screen Capture Software. Take the hassle out of creating images and videos. Capture your screen, edit images, and deliver results.
TechSmith Camtasia
Camtasia is an incredibly powerful screen recording and editing suite, helpful for traders looking to record sessions and see how they are truly responding to market conditions and adverse market movements.
Screen Recorder and Video Editor. Camtasia 2018 makes it easy to record your screen and create polished, professional-looking videos.
Or get the Camtasia®/Snagit® Bundle and SAVE!!
Xmind
Xmind is an incredibly useful mind-mapping application that allows you to organize ideas and help you to plan your trading.
XMind is designed to generate ideas, inspire creativity, make your thoughts from disorder to order, bring you efficiency both in work and life.
Evernote
Evernote is a highly popular note taking application amongst traders. Great for journalling and deliberate practice.
Capture, organize, and share notes from anywhere. Your best ideas are always with you and always in sync.
Microsoft OneNote
OneNote is also a very popular note taking application amongst traders and is free. Great for journalling and deliberate practice.
Get organized in notebooks you can divide into sections and pages. With easy navigation and search, you’ll always find your notes right where you left them.