One versatile stock trading software is called MultiCharts. Those who have had experience with other programs, MultiCharts will remind you of Tradestation. It is not only a charting package but it also has an Easy Language-type editor which allows more experience users to modify existing studies or even create their own. It also features real time functionality, alerts and has an automated trading ground to make everything easier.
Beginners will not have a hard time understanding how the program works because it has a very intuitive interface which can be described as slick and minimalist. Though the program may appear to be simple, it contains everything that a trader needs to do efficient trading including customizable windows, a drawing menu and a wide array of charting tools. The program also allows several symbols to be displayed in a single window allowing the user to view various combinations of symbol and timeframe simultaneously.
As mentioned, experienced traders are given the hand to modify or add studies to set the trading environment. These studies can include slippage, brokerage costs, and others which are important for accurate back testing. However, this feature is not limited only to the more experienced trader since the program comes with an Easy Language editor which will encourage beginners to make their own because of its ease of use.
MultiCharts is an efficient optimization package which enables fast testing of strategies and has an excellent performance viewer. It also automatically creates 3D charts which makes it easy to visualize performance and optimization. One great thing about MultiCharts is that it is compatible with any type of data format making it more convenient and functional.
The alert system and the automated trading option in the program is a very useful feature especially to those short-term traders who are fond of intraday trading. This feature allows the program to be the main market interface and not simply just to test a trader’s market strategies. This program is really designed for traders of various levels of expertise and more experienced ones are recommended to try it somehow.
The pricing plans for the program are very inexpensive compared to other investing software of the same capability. Exorbitant fees are not charged upfront by the developers of MultiCharts. They even offer a 30 day trial period for those wanting to explore and see if this is indeed the software for them. This trial option can be helpful for beginners so that they will have enough time to learn the ins and outs of the software. For those convinced about the functionality of the software, a one-time for life fee is charged and comes with unlimited use. They also have 3 month plans wherein you can choose to stop or continue your use of the MultiChart software. One thing that sets MultiCharts from other software is this: a trader won’t have to buy CDs and deal with the manuals that come with the software since these are readily downloadable from the web once payment is provided.