UK Charting Software

[m_grindy]

Hi,

I'm new to T2W. I'm currently trying to get all my platforms in place, and having browsed the forum think I might have made some bad decisions. I'm based in the UK and have been swing trading UK stocks through BARX (Barclays Stockbrokers) but looking to start doing more day trading. My current setup is:

BARX: Level II data, News, Charting (no intraday candlesticks etc...), live data etc...

iDealing: Use as execution only DMA with live data feed from LSE

However, I really need some proper charting software. I'm happy with iDealing, and BARX is fine for swing trades. Ideally I don't want to switch all my software and get used to new platorms.

Does anyone know of any good charting software available that would be appropriate. i.e. for the UK markets, that don't need to be linked to IB with data feed, not too expensive. Basically a stand alone charting software???????

Thanks!

 

[timsk]

Does anyone know of any good charting software available that would be appropriate. i.e. for the UK markets, that don't need to be linked to IB with data feed, not too expensive. Basically a stand alone charting software???????

Hi m_grindy,
Welcome to T2W!
It's well worth checking out ShareScope who offer three packages: Gold, Plus and Pro. If you want live data for day trading then you'll need the Pro version which, needless to say, is the most expensive! I use the Plus package and find it's very good for my purposes and, in my experience, the support team are way better than any other company I've dealt with. Very friendly, helpful and prompt with their responses to enquiries. Besides them, it might be worth looking at Updata whose strong point is their Point & Figure charts.
Tim.

 

[Chorlton]

Hi,

I'm new to T2W. I'm currently trying to get all my platforms in place, and having browsed the forum think I might have made some bad decisions. I'm based in the UK and have been swing trading UK stocks through BARX (Barclays Stockbrokers) but looking to start doing more day trading. My current setup is:

BARX: Level II data, News, Charting (no intraday candlesticks etc...), live data etc...

iDealing: Use as execution only DMA with live data feed from LSE

However, I really need some proper charting software. I'm happy with iDealing, and BARX is fine for swing trades. Ideally I don't want to switch all my software and get used to new platorms.

Does anyone know of any good charting software available that would be appropriate. i.e. for the UK markets, that don't need to be linked to IB with data feed, not too expensive. Basically a stand alone charting software???????

Thanks!

Given its relatively cheap price, together with its extensive functionality & flexibilty I would recommend Amibroker. I used to use Metastock but made the switch to Amibroker and have never looked back.

However, the other alternative I would recommend is ProRealtime. Its FREE, very easy to use with FREE EOD data and has some excellent features.

Hope this helps,

Chorlton

 

[m_grindy]

Thanks lot guys. I've been struggling for a while trying to find info on charting software so this is very helpful. I'll have a look at the suggested software and give it a try. What do you think about my other platforms? Is it a good setup, or am I off track completely. BARX for swing trading and iDealing as execution only? It seems like everyone is on IB, but I didn't have the initial deposit required....

Thanks

 

[m_grindy]

Hi, I've had a quick look at the 4 suggested. Interesting. All look like good software. However, I have no idea what I should be looking at paying for real-time charting .
Sharescope: £85 per month
UpData: £200 per month
AmiBroker: ~£12 per month. However, I'm not sure if it can be used in the UK on London Stock Exchange. It also says direct link to various brokers (IB, eSignal etc..) but does it work with link?
ProRealTime: £46 per month for live feed.

These all quite expensive or is this what I should expect to pay?

 

[timsk]

These all quite expensive or is this what I should expect to pay?

Hi m_grindy,
It's horses for courses - a bit like buying a car. Do you need/want leather trim, alloy wheels and electric sun roof - or will the standard model suite your purposes perfectly well? Most companies (if not all) allow you to demo their offerings for a month or so, which is essential to do IMO. All software has its pro's and con's, so you want to make your choice based on usage and not just cost alone. For example, I day trade U.S. equities and was trialing Updata because their P&F charts are the industry bees knees. I was also trialing eSignal at the same time. A week into the trial, I discovered that Updata didn't didn't get their U.S. data direct from source but via a third party - i.e. eSignal!If I wanted to use their software, I would have had to subscribe to eSignal as well. This instantly eliminated Updata from my shortlist - which was a shame as I really liked it! So, my advice would be to look at all the possible candidates, check out their websites and reviews / comments on here and then make a shortlist of 2-3 to trial on demo and then make your final decision at the end of that process.
Tim.

 

[m_grindy]

Ok, thanks. Yeh, I've already got data direct to one of my other platforms so it would be a bit silly to get eSignal and the charting software. Therefore, much better to have one which just gets data direct. Is it common for most people to be trading US equities from the UK rather than UK equities?

 

[timsk]

Is it common for most people to be trading US equities from the UK rather than UK equities?

It's common for people to trade anything and everything from anywhere and everywhere these days. As with data suppliers and brokers, it's horses for courses. Traders who prefer U.S. equities in preference to U.K equities tend to do so for similar reasons, which include: 1) no stamp duty 2) greater choice of instruments 3) better news & analysis 4) increased volatility 5) increased liquidity and 6) tighter spreads. Points 4-6 are generalizations. There are, of course, U.K. stocks that are volatile, liquid and have tight spreads, but nothing like as many as there are in the U.S.! I should emphasize that none of the above are reasons for NOT trading U.K. equities, merely reasons to trade U.S. ones. It just depends on what floats your boat, mows your grass 'n' sends your elevator to the top floor etc, etc.

Tim.

 

[m_grindy]

Very interesting. I had heard that US equities were a lot more appropriate for day trading. Does that mean you work from 2:30pm (english time) to 9:00pm? Finding the correct charting software is frustrating. I think I will close down my BARX (barclays account) which gives me news, basic charts and live data (for ~£30 per month) and get maybe Pro Real Time.

Mike

 

[timsk]

Very interesting. I had heard that US equities were a lot more appropriate for day trading. Does that mean you work from 2:30pm (english time) to 9:00pm?

Hi Mike,
Yes! The U.S. day is divided into three sessions: morning, lunchtime and evening. Full time traders tend to focus on the morning session and steer clear of the lunchtime period which tends to be a little flat as traders in the U.S. pour out of their offices to form a disorderly queue at McDonald's! The evening session is great for traders this side of the pond who have a day time job. That's how many here on T2W start out - me included.
Tim.

 

[m_grindy]

Right, I definitely need to get involved in US equities really. Only thing is, I don't have a platform that allows me to trade US equities. Do you know anything about the mimimum charges on IB? I think you have to spend £1000 in commissions a month. I don't want to be forced to be making a certain amount of trades a day!

 

[memyselfandx]

BARX for day trading?

Hi,

I'm new to T2W. I'm currently trying to get all my platforms in place, and having browsed the forum think I might have made some bad decisions. I'm based in the UK and have been swing trading UK stocks through BARX (Barclays Stockbrokers) but looking to start doing more day trading. My current setup is:

BARX: Level II data, News, Charting (no intraday candlesticks etc...), live data etc...

iDealing: Use as execution only DMA with live data feed from LSE

However, I really need some proper charting software. I'm happy with iDealing, and BARX is fine for swing trades. Ideally I don't want to switch all my software and get used to new platorms.

Does anyone know of any good charting software available that would be appropriate. i.e. for the UK markets, that don't need to be linked to IB with data feed, not too expensive. Basically a stand alone charting software???????

Thanks!

hi grindy.. am thinkin of subscribing to BARX to start day trading with a MarketMaster account. Would you recommend it for day trading? or do you think IB would be better????

 

[m_grindy]

I certainly don't advise BARX for day trading. I don't find it too bad in general, but I know a lot of people on here really dislike it. It doesn't offer DMA, access to US equities or the ability to short. It has good charts for investing, but not intra day trading.

Get Interactive brokers, although you need ~£5000 to open account. You could use iDealing in conjunction with another software...

 

[memyselfandx]

I certainly don't advise BARX for day trading. I don't find it too bad in general, but I know a lot of people on here really dislike it. It doesn't offer DMA, access to US equities or the ability to short. It has good charts for investing, but not intra day trading.

Get Interactive brokers, although you need ~£5000 to open account. You could use iDealing in conjunction with another software...

many thnx...i've already signed up to IG markets....with DMA and RSP access!