Behind every successful business, there is a set of great tools. Trading is a tough business. You need the best tools to save time and money. The tools that can help you accomplish more for less.
I am an independent trader, who trades from home. I don’t have the luxury of commercial equipment. I have spent time and money to try and test many tools and services. The tools mentioned in this article work well for me and fit my limited budget.
On this page, you will find a list of tools and services that I have used and recommended. Some of them are free, some are paid tools. They have helped me over the years.
This page will be updated regularly. I hope you find the list useful.
Before we proceed, here is the disclaimer: There might be an affiliate link on this page which I might earn a commission if you purchase through my link.
All right, without further ado, let’s dig in.
Best Tools For Traders
Forex Smart Tools consists of 2 applications: Forex Trade Log and Advanced Calculator.
With Trade Log you can manually enter each trade, or import from MT4 broker or Forex Tester using Import Wizard. Trade Log allows you to track your trades with different parameters. Besides, you can also upload screenshots of our trades. You can generate a report for each trade with all analytic data and screenshots. It is an excellent tool for trade review.
Advanced Calculator is an advanced position sizing calculator. It helps you to manage your risk and maximize your profit potential.
Check out my review of Forex Smart Tools Here.
TradingView is a web-based charting platform. It is also one of the biggest social networks for traders and investors.
Whether you are looking at basic price chart or plotting complex spread symbols with overlaid strategy backtesting, TradingView has tools and data you need. You can also create strategy and indicators using Pinescriptiong.
TradingView is my platform of choice for Forex trading. It is available on both desktop and mobile platforms.
Forex Tester is a backtesting software. You can use it to backtest your strategy or aftermarket practice.
It offers a good range of testing tools such as historical news service, money management features, and visual strategy (EA) builder, etc. It is one of the best Forex backtesting software in the market.
FXS Analytics is the training course I would recommend. It is an in-depth and structured training platform and community. It provides a breadth of learning materials and ad hoc resources via one-on-one support.
It offers price action, volume, and behavioral analysis training. I am happy to recommend it to new and experienced traders alike.
Sierra Chart is a professional desktop Trading and Charting platform. It is light, stable, and highly customizable. It has been my platform of choice for Futures Trading.
Comparing with other charting platforms in the market, Sierra Chart can offer the same features at a much lower and affordable price. With the availability of ACSIL (Advanced Custom Study Interface and Language), it gives users the ability to create or customize trading functions and indicators.
Qlock is a professional-looking world clock. Featuring more than 500 cities, automatic DST calculation and time sync, user-selectable alarms, multiple skins. It is a small program that I have been using for years.
You can have the clock of different cities on your Desktop. There are free and paid versions of Qlock. I found the free version is good enough.