9 Best Stock Trading Tools in 2023 for Better Charting, Research and Trade Executions
Over the past year of stock trading, one critical thing I’ve learned is just how important it is to utilize the best stock trading tools from day one—and to also know when you’ve progressed enough and are ready to move on to the next level of tool.
When you employ the right tools for stock trading, it can literally save you hours of time that’d be otherwise spent on much more manual work.
- Webull
- Fidelity
- TradingView
- MarketWatch Upgrades & Downgrades
- MarketWatch U.S. Economic Calendar
- CNN Fear & Greed Index
- StockCharts
- TipRanks
- Walter Bloomberg
First up, we’re exploring the most useful brokerage accounts that can be found on the market today, so that you can take a more effective approach to trading in the market in the first place.
1. Webull
Webull has more than earned its reputation as one of the best trading platform tools when it comes to nailing your trade ideas, with a special emphasis on charting, and ease of use. Though to be clear, if you’re brand new to trading—this tool may be a little advanced, and real-time data features are not free.
Their most relevant features for trading, is that it they give you more technical indicators, including patterns & candle sticks, key market news, advance charting capabilities, real-time alerts, streamlined earning analysis, take-profit/stop-loss option features, and better community features. I know, that’s a lot.
Webull has become my daily driver trading platform, as they also have a great desktop & mobile application.
If you’d like to read how I setup my custom trading station, give this article a read: “How I setup my Webull for options trading“
2. Fidelity
Since 1946, Fidelity has become one of the largest asset mangers in the world, by helping their customers manage their mutual funds, IRAs, 401k, and much more.
Fidelity is a great platform for any new beginners, because besides the huge array of services, their customer service is top notch. When it comes to your money being put on the line, you want a company that will care as much about it as you would.
The only complain about Fidelity, is that their trading platform UX is a bit antiquated. But it’s well organized, and their customer service is gold standard.
3. TradingView
To put it simply, TradingView is a dead simple charting platform–that allows you to view bonds, indices, stocks, and cryptocurrency. This charting platform makes our list of the best stock trading tools because it has Scripts.
Scripts in TradingView are trading indicators and strategies built by their community using TradingView. The wonderful community provide free new strategies & indicators that will help you make better trading decisions.
TradingView has a desktop application for Mac & Windows, and an application for iPhones & Android phones.
4. MarketWatch Stock Upgrades & Downgrades
MarketWatch is #4 on my best stock trading tool as it gives me a list of all stocks that have upgrades and downgrades for the day – they will let you know by what analyst firm as well.
This a top stock trading tool because it can give the trader higher conviction about their trade to break through resistance or support levels, or to even to a gap stock fill trade.
5. MarketWatch U.S. Economic Calendar
To compliment the #4 best stock trading tool, MarketWatch also provides a calendar for U.S. economic reports and Fed speakers. This is extremely helpful as it keeps the stock/option trader inform if the trade will go against their plan or not.
6. CNN Fear & Greed Index
My #6 best stock trading tool is CNN’s Fear & Greed Index page. The Fear & Greed Index is useful to look at stock market levels and it will let you know when the market is greedy or fearful.
7. StockCharts
StockChart has free charting tools, and scanners that may help you find sectors or stocks that are on a start for a bullish or bearish run.
It’s forte is the scanner tooling. You can scan by sector performance, or by technical indicators such as bullish or bearish MACD crossovers, gap ups, oversold or overbought RSI, and many more.
8. TipRanks
TipRanks evaluates public stocks made by financial analyst, and financial bloggers–it then ranks them based on their accuracy and performance.
Any time, I’m going to start a swing trade I will see what the analyst have targeted a public stock, and the potential upside. When doing research, this website has become one of my favorites.
9. Walter Bloomberg
Walter Bloomberg is a twitter account that posts major headlines from the Bloomberg terminal. This a great free resource tool, when you cannot afford the Bloomberg terminal for $2,000 per month.
The wonderful part about this Twitter account, is that it will tweet the headlines the second they come out; so you will not miss out on very critical news headline.
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