What kind of features should stock market software have?

by Kushal Verma Search Engine Marketing

In the share market, investors can invest and trade their money in a variety of different stocks. It is a complex platform with many aspects that show rapid changes according to market conditions. As a result, it is important for every individual to acquire the requisite knowledge about trading before stepping into it.

We are going to explain how trading software can help you analyze different financial products. In addition to providing tips and suggestions, this blog will also give you a list of features of trading software to look for.

What is a Trading Software?

Trading software helps in the trading and analysis of financial products like options, stocks, futures, and even currencies. On a simple note, it is a computer program that is used by traders to analyse many financial products with a financial intermediary such as stock exchange, market maker, broker etc.

From anywhere in the world, investors can place trades using chart analysis. There are both downloadable and web-based trading software options for traders. Additionally, many people purchase third-party trading software that enhances the software offered by brokerage firms.

Best trading software is linked with the traditional floor trading method which serves as an open outcry system for the traders, by which the order can be placed. Order placement, technical analysis, fundamental analysis, news feeds, charting packages, market prices, are some of the key features of trading platform software.

The key aspects:

Trading software is a program that helps you to trade and analyse many financial products in the right manner.
Stock market software helps to monitor the account, placing trades, and executing market positions.
Features like real-time quotes, charting tools, informational research, and programmatic trading helps in easy trading.
Today people are switching towards self-directed trading accounts to gain the requisite knowledge. This gives a push to the demand for trading software, software analytics, and information resources.

Selecting the right trading software India

Knowing what features to look for in share market software will help you choose the best option for you. It is advised that investors and traders consider the features they need according to their trading style or pattern before deciding or investing in any trading software. As an investor, you look for trading capacity and you should decide the trading software accordingly. But as an active trader, you can choose the automated trading software with the best features.

Trading software can be differentiated into two categories- prop (proprietary) platforms and commercial platforms.

Prop (proprietary) platforms- This trading software is designed for large brokerages which helps to meet a particular trading style and demands.
Commercial platforms- These are designed for day traders and retail investors which helps in adequate learning and research through news feeds and maps.

Features should stock market software must have

Some major and helpful key features in trading software are as follow:

Technical analysis- Tools such as technical indicators, interactive charting, chart patterns, help the traders to analyse different stocks and to keep an eye on trends. This feature helps in the right technical analysis and hence helps the traders to stay away from major losses. Not only this, traders or users can even customise some elements in the charts such as indicators, resistance lines, sector comparisons etc. according to their style of trading.

Order placement- Many trading software helps investors and users to place new orders and guide them about order types, limit orders, and market orders as well. You can check the real-time prices, win rate for the day, track trading statistics, loss and profit on the closed trades.

Paper trading- This is a non-risky virtual money trading system that is built-in in many trading software. This helps the traders to polish their skills by using the no-real-money traders before investing the real money.

Programmatic trading- Many trading software comprises features like programmatic trading. This allows the traders to execute the trade automatically and without pressing any button. This also allows the user to test how the automated trading system performs according to different commands.

So, here was all about the basic features a trading software must-have. While choosing a trading software, consider the features you need and the fee structure as well. It is also possible to select software which enables the users to test software before purchasing.

At Chart Analysis, we work to guide you about all the right ways of trading and choosing the right applications, through which you can multiply your investment capital with low risk.