Daniels Trading

Trade Futures, Spreads and Options with Confidence.

 

Shifting Your Technical Analysis into Overdrive

by Connor Trant| Tips & Strategies

Today’s traders have come to realize that online trading revolves around two crucial issues – execution and analysis. Brokerage firms focus on the execution and stability of their trading platforms as that is their core competency. Trading platforms, like our dt Pro, have great execution and stability, and also have terrific charting and analysis. However, for traders looking to shift their technical analysis into overdrive, there are developers that specialize in charting and analytics that can complement a trading platform. The major categories of these analytical developments can be broken down into charting, trading strategies, and price/volume analysis. Our dt Pro platform is compatible with many of the industry leading charting and analysis packages on the market today.

For some traders, charting is the most essential tool when evaluating a trading idea. Many third party charting vendors offer a wide range of technical indicators and chart drawing tools that may not be available on execution platforms. For traders who are primarily focused on technical indicators and chart patterns, having a robust software package that is primarily built for analysis can be a major benefit. dt Pro is compatible with eSignal, MotiveWave, MultiCharts, NeoTicker, Sierra Chart and Trade Navigator. Finding the option that works best for you comes down to the personal preference of the trader and what they find most useful.

Strategy based software services have become very popular since the introduction of electronic trading. There are three types of strategy services on the market today, which are all available with our dt Pro trading platform. The first type of strategy service is software that generates charts and signals for specific markets that the trader can choose to execute on his or her own. Providers like AbleSys aim to give traders an edge by providing executable signals through their AbleTrend service. The second type of strategy service is the automated trading system provider. Companies like Collective2 allow developers to post and run their systems through their web site. Traders and investors can then evaluate those developers systems and decide if they want their account be part of that automated system trading. The third type of strategy service is catered to traders who want to develop their own systems. Providers like SmartQuant and RightEdge provide the tools for developers to design, develop and back-test their strategies and systems.

In addition, volume and price analysis, such as MarketDelta’s Footprint Charts and Market Profile, have become very popular over the past few years. Traders are able to analyze price, volume indicators and trends directly on the trading platform. MarketDelta Trader is a Footprint DOM that you can trade through and it can be integrated with our dt Pro software.

Daniels Trading strives to offer our clients the best in execution and analysis. For excellence in execution, we have dt Pro. dt Pro has some great analytics, but for traders who are looking for more horsepower, we have the top 3rd party software for charting, strategy and trading. Many are available for you to demo today and even let you try their software risk free!

Are you looking for an edge with your software? Click here to try these excellent analytical tools here today.

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Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.