The last few months have been extremely busy and as a result I have been posting more of my charts and comments on social media rather than writing longer articles.
I’ve been asked a couple of times about what trading resources and tools I use to trade and do research. While this is not a recommendation to use or endorsement for any of these services, sites, etc. I just want to share a few trading resources from my toolbox.
Here are 7 of them:
Almost all of the charts I share on the blog and on Twitter/StockTwits come from StockCharts. They are a widely used site with some excellent charting tools and annotation capabilities that I find extremely easy to use. When I arrive to my office one of the first things I do is begin going through my chart book at Stockcharts. One of the best trading resources for me.
While most of my charting is done through StockCharts, I keep ThinkorSwim (TOS) on my of my monitors during most of the day. Being one of the leaders in trading technology (owned by TD Ameritrade), ThinkorSwim has a clean aesthetic with reliable (in my opinion) pricing information. I use TOS to keep up with what’s moving on my watch list and portfolio, as well as intraday movements in things like the 10-year Yield, Gold, S&P 500, Volatility, and Crude Oil.
I would not be the trader I am today without the relationships I’ve built on social media; specifically through Twitter and StockTwits. I use Tweetdeck to keep up with my stream on Twitter, with one column dedicated to a small(ish) list of traders I’ve cultivated over the last few years. While I follow over 800 accounts, it’s this list that I keep my attention on and make sure to not miss what they have to say. I’ve learned a great deal from those active on social media, I owe them quite a bit.
Through my studying for the Chartered Market Technician designation I learned more of the importance of sentiment data. SentimenTrader is the gold-standard in my opinion for curating all that is sentiment, from surveys, to fund flows, to proprietary data sets, to COT data, they have it all. Each morning I make a point to read their daily newsletter and often learn something new about a market move I wouldn’t have been able to read about anywhere else.
5. Blogs/Media (Reading List)
I’ve cut back quite a bit on the amount of content I read. I used to track 50 or more blogs and new sites, not wanting to miss a beat. Now, I simply read a handful or so and I feel I retain and know more than I did when the list was 5 or 10 times longer. This reading list offers a blend of great trading resources and market insights. Here’s my list:
I also enjoy some major sites like Business Insider, Bloomberg, and CNBC. Both The Reformed Broker (Josh Brown) and Abnormal Returns do a good job with their daily link fests that I don’t need to expand too far on the financial web for stories and research to read.
While my main focus is technical analysis, I still follow economic trends and read what’s going on in the rest of the non-price movement world. My firm is a subscriber of Bianco Research, who puts out an excellent piece every morning and hosts a thought-provoking webinar every couple of weeks. Jim Bianco does a great job at combining news stories with his own commentary on the market and economy.
What good are we without the old standby that is Microsoft Excel. While I don’t use it as heavily for charting as some, Excel is still an excellent tool and one of the better trading resources to analyze data.
Thanks for reading and have a great week.
Read more from Andrew on his Blog.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.