Top 10 Best Technical Analysis Trading Software

Forex is the short form for “foreign exchange” and is an exciting business that is increasing in popularity. In foreign exchange, one currency of a country is traded for another. The foreign exchange market is one of the largest markets because foreign exchange transactions take place between large banks, central banks, governments, multinational corporations etc.

Read More: Top 24 Best Technical Analysis Trading Software

On an average, transactions of the volume of US $ 2 trillion take place globally every day. In addition to that the transaction volume in the derivatives market is 1.26 trillion, daily. That shows the size of the market and the potential it has for the players involved. Though retail traders who participate through brokers and banks form a small fraction of the total participants the Forex market holds a high potential return for the participants.

Should You Learn Trading?

Learning Forex trading is not that difficult in that there are many systematic courses conducted by many institutes/universities all over the world. When an entrepreneur commits to learn trading, she will be mainly exposed to two types of analysis. One is technical analysis and another is fundamental analysis.

Technical Analysis

Technical analysis is the market-generated data used for forecasting price movements. Tools like price charts and graphs are being used to illustrate the concept. The forecasting is based on three postulates viz., the market data contains all the fundamentals, volatility of the market and market sentiments. The possible market trends are up, down and sideways. More often than not the market moves in predictable patterns. The ultimate aim of technical analysis is to unravel this pattern basing upon the past trends.

Read More: Top 11 Best Stock Trading Software

Fundamental Analysis

Fundamental analysis assumes a country to be like company with economic reports that reveal the financial health of that county’s currency. The value of a country’s currency depends upon the products and services it supplies to the international market. The more it supplies and is able to sell them the more of a demand is created for the currency because of its need by the purchasers of the product and services. Fundamental analysis takes into account the country’s potential to generate international trade. Fundamental analysis is found to be more effective when the learner uses the same judiciously. Learning the trade in these broad categories help the traders perform well in the market.

Forex trade holds high prospects for profit as well as the potential for loss depending upon the trader’s skill and understanding of the market. Learning Forex trade provides that knowledge which should be analytically used for achieving better performance. The trader who has a more thorough understanding of the market has a distinct advantage and greater likelihood of creating consistent profits. As with any business, education and training are the first step toward long term success.

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Top 10 Best Technical Analysis Trading Software:

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PROREALTIME

Online charting software for technical analysis & trading of stocks, futures, forex, commodities… Intuitive market analysis tools & low latency market data for traders & investors.

METATRADER5

MetaTrader 5 Trading Platform for Forex, Stocks, Futures. Price analysis using technical indicators and graphical objects help predict currency and stock rates to make informed trading decisions.

CHARTNEXUS

An easy-to-use and constantly innovating stock charting tool. Attend our TA Courses and Stock Market Forums. Support Windows, Mac, Ubuntu, Linux and Unix. Hotel-style training rooms available for rent. A premier venue to host your events, training programs, seminars, workshops, meetings, courses and conferences.

METASTOCK

MetaStock is an award-winning charting software & market data platform. Scan markets, backtest, & generate buy & sell signals for stocks, options & more.

AMIBROKER

Portfolio Backtesting Software. Optimization and Trading System validation. Monte Carlo simulation, Walk-Forward testing, Sophisticated charting and much more.

MULTICHARTS

MultiCharts trading software for professional traders with advanced analytics, trading strategies, backtesting and optimization.

STOCKALYZE

Stockalyze is free and professional software for stock analysis and portfolio management. Have a look at the short explainer video to know more about it. You can also look at feature overview to know about some of top level features of Stockalyze.

SPIDERSOFTWAREINDIA

Spider Software Pvt Ltd provides the best Live and End of Day Technical Analysis Software for the Indian Markets. The software’s are decision making terminals which helps traders and investors take the right trading decisions. The company is a licensed vendor of NSE, BSE and MCX Real-Time Price Feed. It uses internet based client server model for distribution of real-time data feed.

SMRCHARTS

SMR Pro: Trading Software, Charting Program, Commodities, Stock Trading Tool by Security Market Research.

RELIABLE

Reliable software is recognized as the leading provider of Technical Analysis software for Stock Investors. We provide technical Analysis Tools, Stock charts, technical Analysis Indicators etc. We have Software to analyze derivatives, commodity market, market risk, stocks and give Stock Market Advice. Ultimate Technical Analysis Software available in Mumbai, Delhi as well as all over India. Live data for BSE and NSE.