What are /r/Trading's favorite Products & Services?

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Some of the classic books on trading theory are One Up on Wall Street by Peter Lynch, The Education of a Speculator by Victor Niederhoffer, and the Market Wizards series by Jack D. Shwager. My personal favorite is The Money Game. All of these books attempt to convey the trader's mindset, rather than specific strategies.

As far as online courses there is www.tradingacademy.com which is geared towards day traders, and www.trader-101.com which is geared towards professionals

Start with some decent books...

"Trading in the Zone" - by Mark Douglas

Market Wizards - by Jack Schwager (there's a few, all are good)

(there are many others - those two will get you started).

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Select a broker (depends what country you're in) and paper trade (i.e. practise, with fake money) until you get a feel for how it works. Try a few out, you'll spend a lot of time in your broker's tools.

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Spend a *lot* of time on the charts. TradingView.com is a good place to start there.

Seekingalpha is a useful site (you don't need to pay for it until much later in your journey).

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You don't have to pay anyone. And you're right - there is a *lot* of crap out there that people charge for. It will take a long time to be able to see what's useful and what's not -> and that'll be how you know you're getting better.

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Finally, its bloody hard work. This is not an easy occupation.

It was easy the last year or so; everything was just going up, you could almost literally buy into anything and make money. So I can understand why your friends thought it'd be great to just dive into. **that is no longer true** Neither was it true historically (pre covid).

Also few books that you should read to get understanding:

https://www.amazon.com/Technical-Analysis-Advanced-Learners-Practitioners/dp/1786356341

https://www.amazon.com/Technical-Analysis-Trends-Robert-Edwards/dp/1138069418/ref=sr\_1\_2?crid=NON2ZAUKB4J7&dchild=1&keywords=technical+analysis+of+stock+trends&qid=1626771630&s=books&sprefix=technical+anal%2Cstripbooks-intl-s...

https://www.amazon.ca/Market-Wizards-traders-youve-never/dp/0857198696

i'm planning to read this book and hopefully gain some insight into this as well

Hi there. I majored in engineering like you and I'm heavily into the equity markets as a swing trader (By that I mean I'm very interested, not that I have millions invested.)

1. Seems like the Robinhood brokerage is free only if you do it on the phone correct? This is pretty important if you're only going in with $300.

2. I recommend a better charting service than the one they provide: TC2000, Tradingview, Incredible Charts.

3. Read a lot! There are resources out there depending on what you are trying to do. For long time horizons, I recommend Beating the Street, The Intelligent Investor, Little Book that Still Beats the Market. If you're in for short term trades, look at Trading for a Living, Secrets For Profiting in Bull and Bear Markets, among others.

4. Psychology plays a huge part in short term trading, and you should be aware of what it can do to your decision making. Do not skip over this topic because no one is immune.

Edit: Oh and also, have a look at the Finviz stock screener and learn the terms. If there is anything you dont understand you can always look it up on investopedia.

The best trading books are either psychology or inspiration imho. There's nothing out there that can give you an actual edge and get you even close to making money.

So with that said: all of Dr. Brett Steenbarger's books Reminiscences of a Stock Operator Market Wizards 1, 2, and Hedge Fund Market Wizards

PAID:

TraderSync- Very nice looking and powerful journal. If you plan to only trade on a computer, this may be a good option. I quit using it because I need mobile access and the app is very difficult to use on mobile. I like trading currencies and on the mobile app there is a bug that doesn't allow you to input custom pairs. On mobile not all pairs are shown as options. Also customer support is not that good

Tradervue- Another powerful tool. Not as good looking as TraferSync, but also very powerful. I believe there is a trial. I stopped using this one because I needed more charts/information to show. If I remember correctly you could only add a total of 4 charts.

Edgewonk- Best part about this tool is you only pay once. TraderSync and Tradervue are subscription based. The learning curve for this is probably the longest but can provide valuable feedback when everything is calibrated. The reason I don't use this is again the need to access via mobile and setting up multiple portfolios is not that easy. You have to essentially install multiple versions of the program for different portfolios.

FREE:

Excel- A lot of people like to use excel to log and journal their trades. I'm sure you can find templates for free. Or you can make your own.

Notion- This is what I am using. I do pay but you can use it for free. I found a template online that was good and tweaked it how I saw fit. Here is a trade I took so you have an idea on how you could possibly use it.

FYI- The screenshots are from Think or Swim mobile app. And disregard all the indicators. I don't use all of them. At that time I was just testing for myself what works and what doesn't. A lot of Trial and error. Lol

Hope this helps.

If you decide to let an option expire in the money (ITM), that option will automatically be assigned or exercised.

If you close the position before expiration, the obligation is dissolved.

Options that go ITM before expiration are rarely exercised or assigned but it can happen. For example, it the ITM option still has extrinsic value, it's usually not cost-effective to do so.

Here's more information.

https://robinhood.com/us/en/support/articles/expiration-exercise-and-assignment/

True

https://www.schwab.com/resource-center/insights/sites/g/files/eyrktu156/files/styles/embedded_385/public/AllinOne_2.jpg?itok=ceqKXdS9

Could u show me on this platform where / how to set those?

I would have to calculate the % right

Robinhood sells the premium an hour before expiry. As you might know, at expiry the premium converges to 0 if it's otm or the value of buying and then selling 100 shares if it's itm. So your profit would be similar, although not exactly the same as when exercising the option

https://robinhood.com/us/en/support/articles/expiration-exercise-and-assignment/

https://www.bitstamp.net/api/

I used bitstamp but moved to

https://www.kraken.com/help/api

for lower fees and more pairs

both have pretty decent API, bitstamp's is a bit better, its faster/cleaner IMO but still, both work fine.

Hi! If there is a group, I would join too!

For trading tips I usually read seeking alpha's trading news: e.g. this: seekingalphanews here

and there is a website called SmartTrade. They have daily forex trading tips @CET:16-17h. If interested, click here

If you use Schwab, they have the following example of conditional order using their StreetSmart Edge Windows application:

https://www.schwab.com/active-trader/insights/content/conditional-orders-why-use-them .. ' Say you own BA and want to initiate a trailing stop on it once you hit your price target of $325.  To do this, you would go to the All-in-One trade ticket and select conditional orders tab or by clicking on the ‘+’ sign to the right of the tabs and select conditional orders.  '

I can recommend Rofx, but it is more for newcomers, who have no clue how to trade be themselves. Since you are are professional trader, it might be too simple and not interesting for you.

https://www.etoro.com/markets/spy

Do you mean this one? Tried to open a position and it's like 0 overnight fees.

But how does this spy work, the price is like 440 compared to 4400 spx500 x1?

its like 10 times smaller?

Hello Trader! Due to your question's nature, I feel you could benefit from backtesting trading strategies without putting your capital at risk.

I recommend that you search for Investopedia's trading strategies (Ex: how to use the 20 moving-average strategies in the 4h chart). You can use Tradingview's bar replay mode to manually add candles from the past to test a trading strategy without putting your capital at risk.

There is a new Youtube Channel called Real Backtesting, where they show you how to use the bar replay mode in tradingview.com. They also share profitable trading strategies and test them to live through their videos.

Remember that you have to use the right indicators for the right market structures. For example, moving averages work best during trends, while MACD and RSI could be used during consolidations or spot market peaks.

Whatever strategy you learn, I encourage you to backtest it at least in 20 trades. Always measure your trade's execution time - set the right expectations for when you go to the real market.

If you read this, you already succeeded. Great job.

I was thinking of tradingview.com, but essentially it's all the same thing.
trust no-one.
experts can ride a trend and fail to pick the change of trend.
YMMV from the experts despite following their methods.

Thank you, love to see high-quality comments like this. I would recommend to anyone interested in investing long term to read "investing for adults". It's a 4 part mini-book series 150 or so pages each, and out of the hundreds of investing books I've read (I do this for a living at a firm, I don't recommend anyone read that many investing books XD) it is easily one of the best.

https://www.amazon.com/dp/B074CJC6KG?binding=paperback&qid=1631365769&sr=1-1&ref=dbs_dp_rwt_sb_tpbk

The amazon link above, but for kindle, the series is only like $10. It really goes over some important concepts that most asset managers would learn for their clients. Save yourself that 1% a year commission from an advisor (it adds up) by learning what they learn. But so far you seem to have a great understanding of healthy financial practices.

Great question! I too am looking for books for beginner. However i have found the following two apps to learn the basics. As a beginner I like to get introduced to the topic in simpler terms.

https://play.google.com/store/apps/details?id=com.capital.investmate

https://play.google.com/store/apps/details?id=com.tiim.tradinggame

Would also be interested knowing if there are other easy apps and books out there for learning.

I think you meant this one LG 34WN80C-B 34 inch 21:9 Curved UltraWide WQHD IPS Monitor with USB Type-C Connectivity sRGB 99 Percentage Color Gamut and HDR10 Compatibility, Black https://www.amazon.com/dp/B07YGZ7C1K/ref=cm_sw_r_cp_api_glt_fabc_FVDSWKGYR13PRX34NP0A

BestBroker is a really nice App to try out Trading. You start out with 25.000.

BestBroker Google PlayStore

BestBroker Apple AppStore

Read this then hit me up. We're talking a lot of knowledge needed to get to the prediction side of things. I've been doing this 13 years and I found a mentor who had been trading for 20 when I started out. Happy to share but lets start with a solid foundation of technical analysis and chart patterns then we have a common language to communicate in.

https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/

Thanks for your hard-won insight.

I bought the book. In case others are interested, it is at:

https://www.amazon.com/Understanding-Wall-Street-Fifth-Paperback/dp/0071633227

We used to practice on Best Brokers, of which they have a Crypto Edition: Google Play or App Store

Hello friends

Those trading in the stock market need to stay abreast with the profitable intraday calls and tips, but finding and keeping a track of information about the stock market isn't tedious anymore. There are several stock trading Android based mobile application in India that serve almost every "stock" purpose, from intraday tips, future stocks to multibagger stocks.

If you are looking for a free Android app to get intraday stock advice, then Bullish India mobile app will prove to be extremely beneficial.

I find it very useful and easy to trading.

Thank you!

For price targets I have switched from fibonacci levels to Catalan numbers. The catalan sequence is an exponential sequence; my thesis is that it works better in these Times with massive money injections into the market. ie The Print going on;
"The Catalan Strategy" https://www.amazon.com/dp/B082DVWXTS

Maybe these would in my list for few first books The Universal Principles of Successful Trading: Essential Knowledge for All Traders in All Markets (Wiley Trading) https://www.amazon.co.uk/dp/0470825804/ref=cm_sw_r_cp_tai_SKy6DbEB3J4RF

One good trade

Market Wizards

The Financial Times Guide to Investing:The Definitive Companion to Investment and the Financial Markets: The Definitive Companion to Investment and the Financial Markets (The FT Guides) https://www.amazon.co.uk/dp/1292005076/ref=cm_sw_r_cp_tai_zOy6DbF4K3R06

Be warned though as soon you put your email and phone number to any broker site you will get tons of contacts about investment opportunities. Most of these are scams and not worth of your time.

If you truly take the journey to trading be prepared to work hard on your self. Technical stuff is easy, mastering your psychology is not. Best would be find good community of professional traders. I recommend tradepro academy.

Yes I'm majoring in finance in college and I personally have an attraction towards learning about personal and corporate finance. Also you can get the commodity options book on Amazon for $30 https://www.amazon.com/Commodity-Options-Trading-Volatility-Lucrative/dp/0137142862

We have quite a lot of evidence that these biases are very hard to shift, as I discuss here:

https://www.amazon.com/Psychology-Successful-Trading-Behavioural-Profitability/dp/1138096288/ref=sr_1_1?ie=UTF8&qid=1530108228&sr=8-1&keywords=the+psychology+of+successful+trading

I'm presuming you're asking 'should you invest in stocks' rather than another asset class.

Generally, if you don't have time or expertise, the index fund is definitely the clear choice.

https://www.amazon.com/Simple-Path-Wealth-financial-independence-ebook/dp/B01H97OQY2/ref=sr_1_1?ie=UTF8&qid=1515733476&sr=8-1&keywords=the+simple+path+to+wealth

This is a easy to read book that argues that this should by and large be your stock investing strategy for the common joe. I think his argument why is convincing too. When you buy the index fund of say US stocks, you are really investing in America's march of innovation and enterprise. Because what goes into the index and out is self-cleaning, i.e. creative destruction in a sense. So long you believe the US continues to innovate and grow then it makes absolute sense to buy the index fund without actually knowing what that value driver is, or will be 10-20 years into the future.

The S&P 500 grew on average 11.9%p.a. from 1975 to 2015, which counts a handful of big bad crashes. 11.9% is huge. If you are stock picking yourself I think this should be your ball-park performance index you have to beat.

In terms of experts advocating passive index investing, John Bogle and Warren Buffet are the foremost faces I can think of who advocate this, in contrast to putting your money in a professionally managed fund.

In terms of stock picking for yourself I think you should give it a good try, you sound like you already have some established skills/experience doing this but aren't sure if you want to commit fully to it.

Markets in Profile

This is what you need.