Extreme Charts and Simutrade Manager
One of the most essential elements to a successful stock market trading program is a quality charting tool. Without learning how to view, analyze, and interpret how a stock is doing by looking at the stock chart, a trader would be defenseless against the whims of the market. Someone once made the statement that trying to play the stock market without a quality charting tool is just like hiring a blind man to drive a taxi. Nothing good is likely to come from that.
BetterTrades has the premium charting tool available in Extreme Charts Simutrade Manager. The two-pronged tool gives users the ability to chart their stock market trades and the option to track and monitor those same trades to better interpret results.
Extreme Charts gives users the ability to chart, trade and analyze each trade. Users can apply a number of indicators to the chart. Users can draw important trend lines on the chart. Users can establish lines for support and resistance levels. More experienced users will enjoy the ability to use Fibonacci lines. And the best thing: All the lines drawn remain on the chart until the user removes them. This saves plenty of time and needless repetition.
The Extreme Charts manual explains how to use other vital functions, like setting up scans to filter the market for potential stock plays, and how to establish a watch list of stocks that you're currently keeping an eye on. The Extreme Charts also work with the special proprietary scans produced by BetterTrades coaches Markay Latimer, Bob Eldridge, and Doug Sutton, which produce more potential trading prospects.
Simutrade Manager offers a platform for practice trades. It allows users to plug in the non-funded trades in which they are involved, define them by strategy, and follow them to the conclusion. Simutrade Manager also enables a user to keep up with actual trades, which simplifies the accounting process when it comes time to do taxes.