What is the best way to trade stocks online and which program is the most successful (for Mac OSX)?
I am looking to buy software for my Apple Mac to start trading stocks online, but have never dne this and have no idea where to start. I would appreciate your in-depth advice greatly to stop me from losing huge amounts of cash before i even get started!
- 9 years agoFavorite Answer
I'm a trader and writing this from a Mac with windows 7 on it & I've been a Mac user for the last 10 years. What I mean is that you'd require Windows to run most of the TechAnalysis software out there, so a virtual machine to run windows or a dual boot windows installation on your Mac might be the option. Other than that you can also go for a PC (I did that to have a stable trading system).
Coming to TA software. The best one's I've heard are TradeStation, eSignal, NinjaTrader, SierraCharts, Amibroker & Metastock. Tradestation, eSignal, NinjaTrader & SierraCharts are subscription based some of them are free to try and free to use offline but not to trade live (best out of them I'd say are TradeStation and NinjaTrader).
But if you require a TA software with powerful tools that is not linked to a broker then Amibroker and Metastock are great to work with. Metastock has it's limitations after a point in that you cannot make use of loops and multiple-time-frame analysis. Amibroker however is the best that I've come across. It supports multiple time frame analysis by default and also has looping and pretty much everything that a TA software should have under the sun. It also integrates with most brokers to send and receive data and orders. It is also upgraded very regularly and comes very cheap, and is also light on your computers resources.
I was a Metastock user before I switched to Amibroker permanently. It's the best software out there.
(That should be enough info, hope that helps).Source(s): Personal Experience & Online Searches
- SallyLv 44 years ago
I got into online trading just a little under a year ago and have been very successful with it (i've made several thousand since I started). What I did was monitor several stocks I was interested in (i use the stock gadget available on the Google Deskbar) and see if I had a good eye for picking investments. After I felt comfortable with playing around, I looked at several of the better known online trading sites (Scottrade, Etrade, Ameritrade) and picked the one that offered the best signup deal at the time (for me, it was Ameritrade with free trading for 30 days and a $100 sign on bonus if you started with 10k or more). I took advantage of the commission free trading and earned a little profit for the first month...honestly though it was my long term investments that yielded the most returns. Also you have to be careful with buying and selling in short periods of time otherwise you will be labeled a "day trader" which subjects your account to more restrictive rules. Read up on some of these things, then find a good trade site and start trading! Now's probably a good time to buy into stocks...we're in a economic slump now so there's some good values out there. My other piece of "newbie" advice is to go with well known stocks, not the longshots...i put some money into a few penny stocks and got burned. Good Luck!
- Anonymous9 years ago
I know very little about trading programs for day-traders but I've heard on CNBC that about 80% of day-traders loses. I've been in the stock market for 24 years and I started in mutual funds. Usually a mutual fund has a group of stocks around 100+ in different sectors, manage by a professional, which makes it's shares a little safer than if you own a few stocks of different companies. But if you know what stock you want to trade, you can open a broker account and legally trade about every 3 days without a day-traders account. Day traders sometimes trades in min. or hours. Is that what you are looking for? I think that most D/T does have software chart tools, to help them lose money.LOL If you need more help, click my pic.Source(s): Self-taught from experience.
- 9 years ago
Actually, you don't need to spend any money on software. There is very little software out there for a mac, but what is out there is free. http://www.interactivebrokers.com is a great, cheap broker that has software that will work on a mac. Practice trading on their demo account first. You will be able to see if you like trading and do it with out spending any money. Learn as much as you can from all the free sources online. Trading is not that hard once you get the basics down. But, you will be your own worst enemy when it comes to starting out, so the less you have to spend the better. And in this case you can't beat free.
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- 9 years ago
trading for a living is a very different task to trading to supplement your income or as a form of gambling (many 'traders' are really just gamblers).
trading online has many options. it really depends on what type of brokerage account.
a full service broker allows you to make phonecalls and execute trades over the phone and many also offer a web based trading panel.
low cost brokers will only allow online trading as it obviously saves them costs.
when it comes to the online interface there are 2 main types- web based and program based.
the benefits of web based platform is that you can access it from everywhere u have web access. most dont have the same charting facilities or ability to save your charts.
downloadable platform allows you to do more however u can only use the one computer and might not be able to access your account from another location.
trading is a great way to make money but it requires discipline and determination.
a great way is to join a forum to get advice from other traders.
i recommend joining australiansharesforum.com
you can ask your questions and get free advice.Source(s): australiansharesforum.com
- Anonymous5 years ago
I've been trading the market for just a few months. My cousin actually told me about this website ( http://pennystocks.toptips.org ) and I signed up immediately after. This is my honest review about their method. I'm not someone who has a lot of time to be researching for ideas because I work many hours. they made it incredibly easy for me to make money in the market. Their reports are easy to read and follow. I've tracked most of the stock ideas that I've received in my e-mail from them and MANY have seen some nice gains after their announcements. I've made a nice profit (55% return on my investment on one, and 112% on the other!) on a couple of suggestions he's given and plan to start trading his ideas a lot more.
For more info: http://pennystocks.toptips.org
- Anonymous9 years ago
Instant access execution-only stockbrokers, a relatively recent phenomenon, don't give you advice, but simply process your requested transactions. This reduction in admin charges translates into much cheaper dealing.
Most are ‘nominee' brokers, where the shares are held electronically. Technically this means the broker owns the shares, but you have ‘beneficial rights', meaning all the gains and losses are yours.
This isn't an issue, except they don't automatically confer qualification for shareholder perks (discounts the company gives its shareholders) or voting rights in company shareholder meetings, though some will if asked.
- 4 years ago
Trading binary options online is not as complicated as many people think it is. Read here https://tr.im/BinaryOptionsTrading
You don’t have to be an economics expert in order to make money by trading binary options. The charts allow you to predict the future course of an asset by finding patterns in its past price movements, and after all this what we need to win a binary trade.
Don't be intimidated by the charts, actually they are not that hard to read and understand. Strategies that are based on reading and analyzing charts are part of the technical analysis area.