Worden Telechart

Day trading is defined as the trading (buying and selling) of a financial instrument (such as a stock or bond) in the course of a single trading day. Day traders are prevalent mainly in the foreign exchange and stock markets.

The popular image of day traders are as a horde of men in suits who spend their days on the trading floor shouting "buy!" or "sell!" depending on the stock values crawling on feeds on overhead monitors. Stock trading has become more technical since then and traders now rely on high-tech tools such as software to help them decide which stocks to trade.



Day traders commonly use tools such as real-time access to the trading desk, which allows them to trade instantaneously when they see sharp price fluctuations; access to multiple sources of information including trade publications like the Wall Street Journal and networks such as CNBC in order to assess their stock holdings; and trading software, which enables them to chart the stocks they are trading. All of these needs are met in a popular trading software, and accompanying online service, provided by Worden Brothers under the brand name of Worden Telechart.

Worden Brothers Inc. was co-founded by Peter Worden in 1988 and is known for its financial analysis tools and market research designed for institutions and individual investors and traders. These users have praised the Telechart software and service for its ease of use and its affordability.

WBI's basic technical analysis software was called Telechart 2005, which is downloadable for free from their website along with an accompanying database of stock market data going back twenty-five years. Worden Bros. have since produced an upgraded version of their software, now known as Telechart 2007 which is also free for download. Technical analysis of stocks is a technique in which the future direction of stock prices is forecast through the study of past data, mainly price and volume but also other indicators.

There are two services available on the Worden site, Telechart Gold and Telechart Platinum. Traders can try out the service for free for one month. If you choose to subscribe you can also avail of generous terms such as two months free for a ten-month subscription or six months free if you pay for eighteen months in advance.
Using the Telechart service allows you to monitor the entire US stock market on your computer. You can see every stock traded on every exchange (NYSE, NASDAQ and AMEX). Telechart then allows you to organize, chart and analyze your results.



The Telechart software also allows access to updated lists of the major indexes so you can determine where your stock lies, and enables you to sort your stocks according to criteria such as capitalization and volume. It has a whole range of charting options, notably including EasyScan, in which Telechart scans the stock market for stocks falling under certain criteria (either using pre-installed scans or those custom-built by users), and create a watch list which you can then further sort. You can also conveniently list your stocks in any order you want for quick and convenient access. Telechart also allows traders to create their own formulas, or Personal Criteria Formulas or PCFs which enable you to add your own sort and scan criteria to the program.

The basic Telechart Gold service allows the subscriber to use Telechart on two computers with just one subscription. It also provides him with a free subscription to the newsletter Electronic Worden Report, which provides charts and stock tips. Data can also be conveniently managed for the investor with just one click of the mouse. Subscribers are provided with an instructive CD-ROM which also gives tips on how to maximize their use of the service and search for stocks. However, the databank under this service is updated with a 20-minute time lag. This service is seen as being more geared towards beginning traders for whom basic services would suffice.

If you're willing and able to spend a bit more to get genuinely real-time data, you can subscribe to Telechart Platinum. Using this service in conjunction with the Telechart download enables you to monitor your stocks in real-time (hourly, half-hour and fifteen minute updates). Telechart Platinum also allows traders to participate in online events moderated by Telechart creator Peter Worden with other veteran traders as resource persons. Traders can also have live chats with Worden and other traders from across the US, as well as share their charts and trading tips. Platinum users also have access to a news feed sourced from forty different outlets. Most stories can be viewed for one year, although other online news sites archive their stories for shorter periods. Telechart Platinum services are for more experienced traders in need of extensive professional services.

Telechart also sends real-time stock alerts to the trader's cell phone so that he can stay informed of important developments such as stock price changes even when he is away from his computer. Such alerts would enable him to be able to rush back to his terminal if he needs to make a trade. Another new and useful feature is a Notes function, which enables the trader to create notes to himself of his ideas and observations, while allowing him to append the chart that inspired the idea. The program then continues to update the chart so the trader can see if his idea is working or his observations are accurate.

Telechart 2007 also allows the trader to easily import his charts to text as well as other trading software programs. The trader can also backup his work on the Worden server, which conveniently enables him to access it from any PC.

An ancillary program created by Worden which can be easily integrated with Telechart 2007 is Worden Blocks; it is currently known as Worden StockFinder. The software can be downloaded for free from the Worden website. This stock charting application makes analysis of stock market trends easier by allowing traders to process data in a seemingly endless number of ways. For example, the trader can create tables using any data series, create unlimited charts (i.e. bar charts, million dollar bars) using a large library of indicators available in Worden's site, or create a pie chart of the trader's watch list.

Aside from these tools, the Blocks player also provides a browser tool that allows the trader access to 50 online research sites and a watchlist tool that lets the trader display his watchlist from his database.

Telechart 2007 is the latest version of WBI's stock charting software series which began with Telechart 2000 or TC2000 which was developed by Worden in 1994. The software created quite a stir among traders when it was first released and quickly became the industry standard, particularly since it was constantly updated by WBI.

To use Telechart to pick stocks, you have to create a folder that will serve as your watchlist. This is where you will put the stocks you want Telechart to monitor, which are grouped by a set of logical criteria. There are five main watchlist classifications: Personal, which may include stocks the trader owns, has sold in the past or which he is monitoring for possible future trading; System, an all-inclusive list which may include all stocks on a certain index or all stocks being traded during a particular day; Scans, which contain stocks which fall under criteria defined in the Easy Scan feature; Component, which gathers stocks listed under particular indices such as the S&P 500; and Mindustry, containing stocks in the same industry or sub-industry.

Enter the ticker symbols of your stocks, either from the database or imported from a text file, and press enter. Then click on the ticker symbol button. If you've performed the procedure successfully, then the symbols of the stocks should appear on the left hand side of your screen. You can then click on the symbol to find information about that particular stock.

Of course, traders enhance this basic procedure by creating more complicated scans to pick stocks to invest in. There is a dizzying array of criteria available in the Telechart library which you can use to scan for stocks. For example, you can monitor stock prices based on a one-year, three-year or three-month range, or you can trend prices' growth rates over a certain period of time from 90 days to five years. You can also scan using fundamental criteria such as capitalization, debt-to-equity ratio, asset turnover, earnings and dividend growth. But more experienced traders would probably opt to create their own personalized scans using the PCF feature.

Users of Telechart have given the software unanimously rave reviews. Aside from being user-friendly and affordable, traders have praised its wide range of features which allow them to do virtually everything they want to do, from create their own scans to pick stocks to allowing them to monitor trends by letting them chart data in a wide variety of ways.

Telechart as of 2008 is the most used stock charting and analysis software by stock traders, and it looks like it will maintain that dominant market position for years to come.

-Here is a great review at StockTradingSoftwareReviews.org about Telechart
-Stocks & Commodities has given them tons of awards
-Learn about other Stock Trading Software at this blog
-Or learn about Stock Market Software

Stock trading requires a lot of skill. There are days when you can be making some of the best trading decisions in your life, and there are also times when you are not performing at your best. Every investor dreams of being able to make the most excellent trade options so as to rake in the best possible profit for their stocks. In order to do this, stock traders turn to the power of stock trading software so as to guide them in reallocating funds as well as managing their portfolios. Exactly what does a stock trading do? In order to help you out, we have prepared an extensive guide on everything that you need to know about stock trading software, its main components and how to use them.

Stock Trading Software in General
Stock trading software can come in many forms. Generally, its main function is to help stock traders make the wisest decisions in handling their money. Through the applications available in a standard stock market trading software, a user can be fully educated of the specific stocks up in the market and how it can related to other available portfolios. Once all the available stock options are outlined, the program is automated to provide a specific suggestion on which stocks are best to be sold or bought by the investor. There are a lot of free stock trading software available in the internet for downloads, however, if you are looking to maximize all the features of the high-end software, it would be best to purchase a full version of a stock trading system software.

The trader basically has the option to choose which specific software can best assist him with his financial trading goals. Each investor and stock trader has a specific need when it comes to placement of investments. There are traders who simply want to be able to manage their portfolios well, whereas there are those who want to seek fresh stock opportunities in the market. Through the installation of a software for stock trading, a trader will be able to benefit from the fundamental utilities such as stock quotes that are generated real-time. Other basic features available in stock trading software include directions on viable prices and profits that have recently been opened to the market. By a simply click on their mouse, they are able to calculate possible profits through the specific signs provided in an online stock trading software.

Types and Uses of Stock Trading Software
There are different types of stock trading software, each with its own unique function. These functions are specifically tailored to answer the basic and advanced needs of stock traders of different levels. In order to be certain that you are making the best trading decision, consulting a stock trading software is always an imperative move. A stock day trading software, for instance, is specifically made in order to assist traders in improving their trading strategies on a daily basis. You will be examined conspicuously by your software through complicated algorithms in mathematics that will hopefully improve your trading style and technique. Once you are more comfortable with this procedure, it is much easier to direct yourself in making the right decisions when active in the stock market. At the end of the day, you are expected to have an advantage in recognizing the most viable trading opportunities in the stock market so as to get the most profit available when trading.

For those who are more comfortable in using a business-like interface, the Linux stock trading software is also good to use. When compared with other types of stock trading software, the Linux stock trading software is more relative to investors and businessmen who engage in daily stocks exchange. The software also assist the traders in locating the most secured price in terms of allocating their money from one portfolio to another. Aside from helping you manage your account better, the software can also set up security alerts in case you need to be notified of any dramatic changes in the stock market that you should be aware of or that will severely affect your market standing. Pattern identification, as with all other practice stock trading software, is also available in this program.

Automated stock trading software has caused one of the greatest debates in the history of stock exchange. With more and more traders depending on programs and computers in order to make their future exchanges, other traditional investors question the effectiveness of the programs and its components. The automatic stock trading software can provide a lot of stocks options for the trader even in free trials. In stock trading software comparison, the automated stock trading software can function the same way as a stock option trading software. People often refer to the program as a type of robot, which can provide numerous settlements for investors of different kind. By simply analyzing a particular data or trend in the stock market, the software can launch a signal to either warn or inform the user of the best possible choice when it comes to investing their shares of stocks. Although this easily eliminates the viability of human judgment, it has been specifically proven how stock trading software of different kinds has continuously arrived at positive results for both new and long-time investors. Nevertheless, although such programs can be very useful, a lot of stock exchange experts still encourage traders to refer to their own analyses of the market signs so as to provide a combination of both human and technological knowledge. Instead of using the software as an auto pilot in terms of making stock decisions, it is still best to use one's own expertise so as to make the most intelligent choices in investment.

Choosing Your Own Stock Trading Software
When choosing your own stock trading software, it is best to first assess exactly what you need as a stock trader. As mentioned before, each stock trader has their own set of skills, both strong and weak abilities that make up their efficiency when it comes to stock exchange. In order to make sure that you are purchasing or installing the right stock trading software for your personal computer, you need to make sure that you have all the essential materials needed in making the wisest financial decision. These materials include your very own stock trading software.

The internet provides a huge library of stock trading software reviews that you can use as reference when looking for the best stock trading software to use. If you are into day software stock trading trading, for instance, you need to purchase a day stock trading software so as to provide you with the best suggestions and volumes when it comes to extensive stock techniques. However, if you are just looking for a basic stock trading software that will help you become more familiar with the terms of stock exchange, you can settle for a program that is updated and current. As with all other programs used in the internet or in a normal computer, it is important to ensure that you are using the most updated version of the product. Using an old version may sacrifice a lot of the special features that can help you make a better financial choice. An optimal decision will always come from the most current procedures and standards. The stock market updates on a regular basis, which is why there are some applications that can easily be regarded as unnecessary for a particular trade. If you have an updated stock trading software, you can be assured that you making the best decisions for every trade. Bear in mind that each mechanism that is being used in the stock market also goes through constant revisions and is always introduced to new processes to make better trade. Without an updated software, the possibility of making a wise stock exchange decision is close to unlikely.

Aside from taking note of the version of your software, you also have to look at the credibility of the source. There are hundreds of labels of stock market software available in the World Wide Web. Sadly, not all of these provide the best results for your trading needs. Making sure that your software manufacturer is backed up with the most credible financial experts and traders will definitely help you make the most out of your chosen program.

Lastly, you have to know how to use it. There are a lot of programs that are hard to navigate and can simply be a waste of time and money when not used to its full capability. Before purchasing your own stock trading software, make sure that it is something that you can navigate well and that you can use with great ease. If you are unsure how to use it, look for a program that comes with a manual or has an online support group that can assist you with your navigation. Making certain that you are able to fully maximize the potential of your stock trading software can bring you the most desirable advantages during exchange.