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Category: Blog Posts

Looking for a ProphetCharts Alternative? Try This Platform!

thinkorswim by TD Ameritrade recently decided to drop ProphetCharts from its trading platform.

Since its introduction in 2004, Tim Knight’s ProphetCharts has become the de facto charting solution for millions of active traders both independently and after TD Ameritrade’s acquisition. The real testament to its greatness is the fact that there have been no real improvements over the past decade, but it was still the go-to solution for any trader that was serious about technical analysis.

6 Must-Read Books for Aspiring and Expert Traders

Many book recommendations for traders focus on timeless classics, such as A Random Walk Down Wall Street or Reminiscences of a Stock Operator. While these are timeless classics that are certainly worth reading, traders may want to turn toward more technical books to gain the insights they need to profit during their day-to-day activities.

Let’s take a look at five books that can help traders of any skill level improve their skillsets.

What’s the Best Day Trading Platform? – TrendSpider Blog

The average active trader underperforms the S&P 500 by 6.5% per year, but day trading is among the most competitive forms of trading. In fact, just one percent of day traders can predictably generate a net profit after fees!

Successful day traders rely on a combination of superior market access and cutting edge technology to find and capitalize on short-term opportunities in the market.

Let’s take a look at some of the best day trading platforms that provide these capabilities.

Should You Sell in May and Go Away?

The arrival of Spring has most of us itching to take a vacation—or as traders say, “sell in May and go away”. Unlike many trading adages, historical data seems to support the theory that stocks underperform in summer. The catch is that past is no guarantee of the future, and sometimes, staying out of the market still results in missed opportunities.

Let’s take a look at the historical data behind the popular trading adage, some potential reasons for these trends and whether you should sell in May.

Extended Hours Trading: Benefits, Drawbacks and Strategies – TrendSpider Blog

Imagine that a stock that you’re following reports blow out earnings after the closing bell. Wouldn’t it be nice to purchase the stock before the market opens the next day? Extended hours trading enables you to make these kinds of trades, but there are important trade-offs to consider.

Regular stock market hours run from 9:30 a.m. to 4:00 p.m. Eastern Time every weekday (except holidays). If you want to react to news outside of these hours, you can place trades during extended hours sessions, including pre-market starting as early as 4:00 a.m. and after-hours as late as 8:00 p.m.

In this article, we will look at how extended hours works, important differences, benefits and drawbacks, and some strategies for active traders to consider.