At the heart of success in trading is making effective and efficient trading decisions. That’s the secret! If you have the tools at your disposal to help you make well-timed, reasoned trades that pay off big, you could see wins time and time again.
But wrapping your head around all the trend dissection and technical analysis can be daunting. Luckily, SmartTrader has some seriously powerful tools that can help make quick work of understanding charts so you can make those winning decisions. Out of the many tools, we’ve picked these 10 that are sure to help you make the most of every minute.
SmartTrader makes it easy to make your charts work for you with fully customizable dashboard functionality. As you get more comfortable trading, you’ll figure out how you like to view your charts, and develop different preferences. With SmartTrader’s dashboards, you can not only add the markets and stocks you want to follow together, side-by-side, but you’ll also be able to adjust the colors, size and fonts of your charts. SmartTrader’s dashboards also allow users to enable “dark mode,” which places the charts on a black background and really makes those candlesticks stand out for easy analysis.
Finding yourself staring blankly into your charts without knowing what to do next? Set alerts through SmartTrader and you’ll be pinged when it’s time to make a move, so you can focus on education, research and other development activities. Set alerts for when a stock reaches a certain price or when a trend turns and you’ll be ready to make moves on a dime.
Feel like you’re hitting a dead end? Learn from the pros that know, and that can be anyone — analysts, SmartTrader users and experts. With SmartTrader’s idea sharing tools, you can share a chart, and even import others’ ideas to your own workspaces. Learning from others can help you get out of your own way and discover a path you might not have considered before. Know a trader on your same wavelength? You can also search for a specific user/expert’s ideas within our Ideas portal.
Side Panel Feature
The side navigation panel that appears on the right of your SmartTrader dashboard will be your daily BFF. From this widget panel, you have a ton of options that make trading and analysis as easy as a click. Trade, switch accounts, change the stops, limits and panels that you’re trading simply by toggling between the dropdown menus on the side panel. SmartTrader also has a library of widgets, so you can customize your panel depending on which widgets you use most.
News Search / Market Watch
To make smart trades, you need to know what’s going on in the world, since the news directly affects the markets. Keep up with the headlines that affect your trading day with the second radial button on the side panel of your SmartTrader dashboard. There, you can search terms you’re interested in, company or market names, and save them for later research.
Technical analysis can seem grueling, and it is if you don’t have SmartTrader’s Smart Tools. This list of over a dozen clickable tools seamlessly integrate into your dashboard to give you an instantaneous chart analysis with very little legwork. You could spend hours poring over a chart trying to find Trend Lines, Fibonacci and more, but time is of the essence — you don’t want to miss your next big win while you’re stuck doing arcane math. Integrate the Smart Tools you find most helpful, and as you progress, you might find that the ones you overlooked at first are actually the ones you need most.
Technical analysis can seem grueling, and it is if you don’t have SmartTrader’s Smart Tools. This list of over a dozen clickable tools seamlessly integrate into your dashboard to give you an instantaneous chart analysis with very little legwork. You could spend hours poring over a chart trying to find Trend Lines, Fibonacci and more, but time is of the essence — you don’t want to miss your next big win while you’re stuck doing arcane math. Integrate the Smart Tools you find most helpful, and as you progress, you might find that the ones you overlooked at first are actually the ones you need most.
The Fibonacci Sequence is a mathematical sequence of numbers that creates a spiral. In trading, Fibonacci “retracements” are used to track trends. It’s the best way to find your lowest-risk entry point into the market, among other uses. You could do this math on your own, but SmartTrader has an exclusive Smart Fibonacci tool (or “Smart Fibs,” for short) that does the work for you with the click of the mouse. It’s easily the biggest time-saver in your trading day.
Candlestick Formations
Stock and market charts are made up of candlesticks, and these formations and patterns are the sticking point for trends you’ll find that will show you when to enter and exit a trade. SmartTrader’s tools will find different candlestick formations and patterns for you with very little legwork on your end — whether it’s bullish engulfing, bullish morningstars and more.
Smart Patterns
Finding patterns in a stock or market is the touchpoint by which we make decisions in our trading. SmartTrader’s patterns scanner scans any chart — stocks, FOREX, etc. — to set the parameters. Then, the patterns will show you where to buy and give you an idea of how long those trends and patterns will last.
Setting your indicators will show you how the market moves within certain parameters. Set your indicators for a certain timeframe to track patterns, progress and theories. Indicators can be saved as a group to be used on other charts/workspaces.
Want to check out these tools, plus many, many more? Click HERE to learn more about what SmartTrader has to offer.
