Trade Prospector Review
Filed Under Third Millennium |
Trade Prospector is an advanced trading information tool that comprises both an end of day trading information and trade candidate identification module. It also includes a powerful tool called a realtime charting/analysis system. It is much cheaper can when it comes to performance it always score more than others. Others stock trading software platforms have a history of charging fees to the clients for data download service, but not with trade prospector. One does not have to store price history on the computer or do lengthy computations and also there is no need to develop systems or screening filters. The most important feature is that one gets real information that can be applied to your trading, rather than a bunch of data that you still need to interpret and check for validity.
Trade Prospector is a unique combination of client-side software and backend compute and database engines. At the end of every day the system run quite a few complex analyses and make the results available to the traders via the software. Some of the essential features are that it provides Daytrading Support/Resistance panel which will gives the user the key intraday price levels to use during the next trading day for each stock one selects. Both daytraders and option traders can use the Volatility Compression Signal panel to see which stocks are currently undergoing volatility compression. There are many inbuilt support systems like option analyzer and calculators which can graphically evaluate option positions and strategies, compute probability of an option expiring in/out of the money, and much more. Other important feature are the charts. These are dynamically pulled up, to graphically see what Trade Prospector is telling you in a variety of formats i.e. in technical study, point and figure. There is also a Trading Range panel that can be used to view the projected trading range of stocks from now until the expiration date of each month in the future. Also the Key Crossover panel indicates which stocks are at or near a crossover of key moving averages.
There is a new version called TP 1.31 and it has included several latest features like ability to decouple windows from the main window frame, added multiple workspace pages, windows can be on a specific workspace page or all pages, new optional floating button bar. These are quite helpful in making different strategies and plan for future. Once equity traders have entered a trade using whatever signals and information they like, the breakpoint prices shown on the Daytrading Support/Resistance panel can be used to set informed trailing stops so they let their winning trades run until the market tells them when to close the position.
It is one of the most valuable stock software tool valuable in the markets. There are very few problems and most them can be sorted out easily without huge fuss. It is worth every penny and is continuously being upgraded over the years. When one has reached the point in his trading that he understands how markets really move and why, then its time to switch to Trade prospector and make huge profits.
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