If you are an active trader, tracking your trades can be a nightmare, especially if you aren’t great with spreadsheets. Tradervue makes tracking your trading progress easy, allowing you to import trades from your broker and automatically calculate important metrics. Continue reading to learn more about Tradervue to see if it’s right for you.
Tradervue at a Glance
Advanced trade journaling software with multi-broker integration
Free plan and paid tiers (Silver $29/mo, Gold $49/mo)
Tradervue is an advanced trade journaling software that integrates with various brokers and trading platforms.
Tradervue features a free plan and two paid tiers (Silver at $29/month and Gold at $49/month) to suit various trading needs.
The platform offers robust reporting and risk assessment tools, helping traders analyze performance across multiple asset classes.
Tradervue fosters a collaborative environment, allowing users to share insights and learn from one another while tracking their trades.
What is Tradervue
Tradervue is a sophisticated trading performance analysis platform tailored for dedicated traders and investors. Established in 2011 by Greg Reinacker, this tool offers cutting-edge features for monitoring and journaling trades across multiple asset classes, such as stocks, options, futures, and forex.
Tradervue elevates the concept of traditional trade journaling by delivering in-depth reports, risk evaluations, and a distinctive community element that fosters user connections, knowledge sharing, and mutual learning experiences.
Tradervue Pros and Cons
Tradervue Pros and Cons
Pros
Unlimited trade entries (in paid plans)
Multi-asset support (stocks, options, futures, forex)
Tradervue is compatible with nearly every major broker and trading platform, including tastytrade, Schwab, thinkorswim, Robinhood, Apex Trader, Webull, and many more.
How to Import Trades From Your Broker
The way you import trades into Tradervue will depend entirely on your broker or platform. Here are general step by step instructions on how to import trades:
1- Click the trades tab on the left sidebar
2- Click import trades
3- Select your broker/platform from the dropdown
4- Follow the directions specific to your platform on the right side of the screen
How to Use Tradervue
There are a few important tabs you should get familiar with when using Tradervue which all live on the left sidebar. Let’s cover all the important ones you should understand.
Calendar
The Calendar view provides a chronological overview of your trading activities, allowing you to navigate through your trading history easily.
Reports
This section offers advanced analytics and performance metrics, helping you gain insights into your trading patterns and strategies.
Trades
Here, you can view, edit, and analyze individual trades, including detailed information about entries, exits, and performance.
Journal
The Journal tab allows you to add notes, reflections, and observations about your trading day, helping you maintain a comprehensive trading diary.
Tradervue Review – My Final Take
Tradervue stands out as a powerful tool for traders seeking to improve their performance through detailed analysis and community engagement. Its advanced reporting capabilities, risk assessment tools, and multi-asset support make it a valuable resource for both novice and experienced traders. While the cost of premium features may be a consideration for some, the potential benefits in terms of performance improvement and strategic insights can outweigh this drawback for serious traders.
The platform’s emphasis on continuous learning and strategy refinement, coupled with its user-friendly interface and seamless broker integration, positions Tradervue as a top choice for traders looking to elevate their trading game. However, users should be aware of the limitations of the free plan and ensure compatibility with their preferred brokers before committing to the platform.
Apex Trader Funding offers futures traders access to substantial capital through a single-step evaluation process. The platform supports a wide range of futures contracts and popular trading software like NinjaTrader and Tradovate.
With no daily loss limits, high profit splits (100% of the first $25,000, 90% thereafter), and the ability to manage up to 20 funded accounts, Apex provides a flexible environment for traders to scale their activities.
The firm’s trader-friendly features, including allowance for news trading (with an explanation) and frequent payouts, make it an attractive option for both novice and experienced futures traders looking to grow their trading careers without risking personal capital. Continue reading my Apex Trader Funding review to help you determine if its the best funded trader platform for you!
Pros and Cons of Apex Trader Funding
Apex Trader Funding
Pros
100% profit split up to $25k
One-time lifetime fee option for long-term cost savings
Up to 20 funded accounts
Cons
Complex trailing drawdown
10-day trading requirement between payouts
Strict payout request windows (1st-5th and 15th-20th)
Apex Trader Funding offers a range of account options to suit different trading styles and capital requirements, with pricing varying based on account type, size, and platform choice.
Whether you’re considering a Rithmic or Tradovate account, Apex provides both evaluation and performance account options with flexible monthly or lifetime fee structures. It’s important to note that Apex Trader Funding also implements an $80 reset fee, allowing traders to restart their accounts if needed.
Let’s break down the pricing details for both Rithmic and Tradovate accounts, including evaluation accounts, static accounts, and performance accounts, to help you make an informed decision on which option best fits your trading goals and budget.
Apex Trader Funding Rithmic Account Pricing
A Rithmic evaluation account at Apex Trader Funding costs $27.40-$131.40 per month, depending on the account size you choose. Here is a table comparing all of the Rithmic pricing options:
Account Type
Account Size
Monthly Fee
Rithmic Evaluation
$25K
$29.40
Rithmic Evaluation
$50K
$33.40
Rithmic Evaluation
$75K
$37.40
Rithmic Evaluation
$100K
$41.40
Rithmic Evaluation
$150K
$59.40
Rithmic Evaluation
$250K
$103.40
Rithmic Evaluation
$300K
$131.40
Rithmic Static
$100K
$27.40
Apex Trader Funding Tradovate Account Pricing
A Tradovate evaluation account at Apex Trader Funding costs $31.40-$135.40 per month, depending on the account size you choose. Here is a table comparing all of the Tradovate pricing options:
Account Type
Account Size
Monthly Fee
Tradovate Evaluation
$25K
$33.40
Tradovate Evaluation
$50K
$37.40
Tradovate Evaluation
$75K
$41.40
Tradovate Evaluation
$100K
$45.40
Tradovate Evaluation
$150K
$63.40
Tradovate Evaluation
$250K
$107.40
Tradovate Evaluation
$300K
$135.40
Tradovate Static
$100K
$31.40
Apex Trader Performance Account Fees Explained
Apex Trader Funding offers two payment options for Performance Accounts (PA): monthly or lifetime fees. For Rithmic PA, the monthly fee is $85, while Tradovate PA is $105. Lifetime fees vary based on account size, ranging from $130 to $340 for Rithmic and $150 to $360 for Tradovate.
Once you pass an Evaluation Account, you’ll receive instructions to sign PA contract documents and make a payment. Importantly, the payment option you choose (monthly or lifetime) for a specific PA account cannot be changed later, and there are no exceptions to this rule. After signing the agreements, you can access the payment link through your ATF.com Dashboard in the Signatures tab.
For traders who prefer not to commit to a lifetime fee, Apex Trader Funding offers a monthly option of $85 for Rithmic accounts. However, if you’re looking to save in the long run, here’s a breakdown of the one-time lifetime fees for various Rithmic PA account sizes:
For traders using Tradovate on Apex Trader Funding, there’s a monthly option of $105, or you can opt for a one-time lifetime fee that varies based on account size. Here’s a breakdown of the lifetime fees for different Tradovate PA account sizes:
Account Size
PA Tradovate Activation Account Lifetime Fee
25k
$150
50k
$160
75k
$200
100k
$240
150k
$280
250k
$320
300k
$360
Who is Apex Trader Funding Best For
Apex Trader Funding is ideal for futures traders seeking to amplify their trading potential without personal financial risk. It caters to both newcomers and seasoned professionals who can consistently execute profitable strategies while managing risk effectively.
The platform particularly suits active traders who thrive on market volatility, appreciate the freedom to trade news events (given it aligns with your strategy and is explainable), and aim to grow multiple accounts simultaneously. Those who value a straightforward evaluation process and are focused on rapid account growth will find Apex’s model especially appealing. If you want to see another funded futures platform option check out my comparison of Apex vs. TopStep.
Apex Trader Funding Risk Management Rules
Apex Trader Funding (ATF) allows traders to trade up to the maximum contracts for their plan, with no daily max drawdown limit. Each plan has a specific trailing drawdown that varies; for example, a $50K plan starts with a drawdown of $2,500 below the initial balance.
In funded accounts, the trailing drawdown stops when the liquidation threshold reaches $100 above the initial balance (e.g., $50,100 for a $50K plan). Static accounts have a fixed drawdown that does not change. The trailing drawdown always follows the highest profit point by the specified amount, and it is crucial to monitor this in real time to avoid failing the evaluation.
No daily max drawdown limit
Trailing drawdown varies by plan (e.g., $2,500 for a $50K plan)
Trailing drawdown stops at $100 above the initial balance in funded accounts
Static accounts have fixed drawdown limits
Apex Trader Funding Profit Sharing Rules
Apex Trader Funding offers 100% of the first $25,000 in profits and 90% thereafter, with payouts available twice monthly and no caps on earnings.
100% of the first $25,000 in profits
90% of profits thereafter
Payouts available twice monthly with no caps on earnings
If you are an active trader, it can be difficult to keep track of all your favorite stocks and assets in real time, hindering your ability to make quick and informed trading decisions. That’s why AI-powered stock and asset analysis tools are crucial to help you stay on top of the most significant news and price action.
Trade Ideas is one of the most advanced charting and AI stock scanning platforms available to traders. This article will explore its features, pricing, and user experiences to help you decide if it’s the right tool for your trading needs.
Trade Ideas is a sophisticated charting platform and stock screening software that offers real-time data and analysis. It’s designed to help traders identify potential opportunities in the market quickly and efficiently.
Key Features of Trade Ideas:
Advanced web-based charting platform
Downloadable desktop platform
Real-time data included with paid subscriptions
AI-powered stock scanning capabilities
Highly customizable dashboard
Charting and Data Capabilities
Trade Ideas continues to impress with its comprehensive charting and data offerings:
Charting: Advanced web-based charting platform plus a downloaded desktop version
Data: Real-time data included with paid subscription plans
Asset Coverage: Stocks, ETFs, futures, crypto, and forex
However, some users have noted that the charts are not particularly user-friendly, which might be a consideration for those who rely heavily on charting tools. If you are primarily seeking a charting platform, I highly recommend TradingView since you can use most of its features for free, and the charting runs incredibly smoothly.
Trade Ideas’ strength lies in its customizability and real-time scanning capabilities. Users can tailor their view to focus on:
Charting
Screeners
Heatmaps
The platform’s constant market scanning is particularly useful for day traders, as it highlights stocks that are trending upward in real-time. Many users praise the platform’s ability to find stocks meeting multiple criteria that would be impossible to scan manually.
Pricing Structure
Trade Ideas offers premium pricing options, which can be a significant investment:
Monthly plans range from $89 to $179
15% discount available through affiliate links
While the pricing may seem steep, many users find the advanced features and real-time data provide significant value. However, some reviewers suggest that a lower-priced option for just real-time data would be beneficial for low-income traders. TradingView offers real-time data wherever possible for free, down to the 1-minute charts on most platforms, making it a more economical option.
Luckily my readers can get 15% off of Trade Ideas using my discounted affiliate link below!
These traders can leverage the platform’s premium features to track stocks making significant daily moves. The platform is particularly praised for its ability to scan pre-market gaps and high relative volume stocks intraday.
Pros and Cons of Trade Ideas
Pros:
Exceptional real-time data
Highly customizable interface
Powerful scanning capabilities
Excellent customer support
Cons:
High price point
Resource-intensive software
Limited backtesting capabilities
Charts could be more user-friendly
Trade Ideas Customer Reviews
Users have shared varied experiences with Trade Ideas. Here are some highlights:
“A very rich platform for any type of trader… This program is irreplaceable in my method of trading.”
Steve Gomez
“They are seriously the leaders in this industry… It’s helped me narrow out so many opportunities that I would have otherwise missed AND I’ve become a better trader with it.”
EB J
“I use it everyday to access real time data in the market and have had next to zero issues or outages.”
Luca S
However, not all reviews are glowing. One user noted:
“I tested this for some time and didn’t find much benefits… What I hoped was to backtest some of my strategies but you only have 63 days of backtesting available. That’s not enough for anything really.”
David
Compare Trade Ideas to Other Platforms
Choosing the best trading platform for you depends on your specific trading style and needs. Similar charting and analysis platforms I recommend include TradingView, TrendSpider, and TC2000. Consider reading my comparison articles of Trade Ideas vs. other popular platforms:
Trade Ideas offers a powerful suite of tools for serious traders looking to gain an edge in the market. Its AI-powered scanning, real-time data, and customizable interface make it a valuable asset for day and swing traders. While the price and complexity might be prohibitive for casual investors, those who rely on quick, data-driven decisions often find Trade Ideas to be an indispensable part of their trading arsenal.
The platform’s strengths lie in its real-time scanning capabilities, customization options, and the ability to find trading opportunities that might otherwise be missed. However, potential users should consider the high price point and the learning curve associated with mastering the platform’s features.
Remember, as with any trading tool, it’s essential to combine the insights provided by Trade Ideas with your own research and risk management strategies. Consider taking advantage of their trial offers to see if the platform aligns with your trading style and needs before committing to a subscription.
TradingView is a popular online platform for traders and investors to analyze financial markets with charts and fundamental data.
The free version of TradingView is great and offers nearly real-time data for major stocks and ETFs like SPY and AAPL. Plus, you can use it to chart all markets, including stocks, ETFs, futures, crypto, forex, and more, making it a one-stop shop for all types of traders.
TradingView also offers premium plans with more features like the ability to get real-time data, advanced indicators like the volume profile, and access to multiple charts on a single layout.
Key Takeaways
I rate TradingView as the best overall charting software after using nearly every platform.
It offers a freemium model, allowing users to create an account and use it entirely for free.
TradingView provides the ability to track all markets on a single platform.
The platform features a large selection of indicators.
TradingView delivers seamless performance for traders.
Users can upgrade to a paid plan later if they find it necessary.
New users can usually test the paid plans by getting a TradingView free trial. You can view our TradingView plans comparison article for more information.
Who is TradingView Best For?
TradingView is best for anybody who trades stocks, futures, crypto, or forex and wants a single platform to chart all of these assets. Many other charting platforms charge for real-time data, but TradingView offers it for free wherever it can. This means even if you don’t pay for a TradingView plan, you can still use it for charting with nearly real-time data.
Utilizing TradingView’s Features
The main features of TradingView include charting, screeners, backtesting, economic calendars, alerts, watchlists, and more! All of these features are easy to access from the home screen, so let’s cover them in depth.
TradingView Technical Analysis Charting Review
One of the best features of TradingView is the ability to chart all markets within a single platform, including assets like stocks, ETFs, futures, forex, cryptocurrencies, and more.
Many brokerages offer charting, but generally, they are made for just one asset class. Additionally, brokerage charting platforms are usually an afterthought, while TradingView is designed for active traders seeking advanced charting tools. Therefore, many traders will place trades on a brokerage platform while using TradingView for charting.
TradingView also allows you to code custom indicators and strategies with its proprietary Pine Script language. There are tons of TradingView indicators you can use for free by default, plus there are paid indicators like the volume profile you can use with a premium subscription.
Using the TradingView Screeners
Another excellent feature TradingView offers is screeners for stocks, crypto, and forex. The TradingView Screener 2.0 is the most advanced one and is free to use; you just need to sign up for a free TradingView account.
You can customize these screeners based on your preferences, allowing you to discover trading opportunities with ease.
For example, if you are an investor, you can scan for stocks based on fundamental data like P/E ratios and EPS. Active traders can also search for high-volatility stocks based on % change and volume. The ideas are endless with TradingView’s screeners, suiting both active and long-term traders.
Backtesting on TradingView
TradingView allows you to backtest strategies with the bar replay feature and the strategy tester. The bar replay feature is available to free users and allows you to backtest trades directly on a live chart.
The strategy tester is a way to backtest Pine Script coded strategies. There are some community-made strategies you can use, plus you can create your own. You can read our TradingView backtesting guide for more information.
Settings Alerts on TradingView
TradingView allows you to set alerts on both price and technical indicators. For example, you can set an alert if an asset moves above or below a specific price, allowing you to stay on top of your positions even when you aren’t actively watching the charts. You can also set alerts based on indicators, which is especially useful for indicators that provide buy and sell signals like moving average crossovers.
TradingView’s Economic Calendar
TradingView has an economic calendar you can view right next to your chart while you trade, which is great for staying on top of market-moving news like Fed announcements and economic data releases.
You can filter by country, allowing you to pick which news is most important to you. Another feature is you can select the high-importance filter, ensuring you only see significant news events on the calendar.
Creating Watchlists on TradingView
You can create and view your watchlists on TradingView by clicking the icon at the top right corner. Once you click the watchlist icon, you can create new watchlists by using the plus icon. You can change to your other watchlists by clicking on the name of the watchlist you are currently viewing to toggle between them.
Accessing Real-Time Data
When it comes to active trading, having access to real-time data is essential. For most instruments, you can buy real-time data from the exchanges directly through TradingView.
Note that a paid subscription does not include real-time data as it is a subscription cost ranging from $2-$10 per month. To learn more about real-time data on TradingView, check out our detailed article on the subject.
TradingView User Reviews
Overall, TradingView has many positive reviews but also some negative ones. It has an A+ BBB rating and tons of reviews on Trustpilot you can view. Here are some recent customer reviews from credible sources:
Positive Reviews
Positive TradingView reviews praise its intuitive layout, helpful customer support, and call it an essential one-stop shop for all trading information needs.
“Simply the best place to get all trading info you may ever need for any kind of trading, from the most conservative stocks to crypto. The ultimate one-stop solution for any tech analysis.” – Vlad on Trustpilot on 19 Dec 2023
“This is a fantastic platform in my opinion. I’ve been using it for a few years now (both the web version & app) and have had no issues. Everything is extremely well laid out and easy to access. What I find especially great about it, is that is has features I didn’t even know I wanted until I was in need of them. Customer service has always been on point in my experience too, I usually get a response within 24 hours. Great job TradingView … keep it up!” – Edward on Trustpilot on 17 July 2023
“Great software, great tools and community. But automatic payments were ON, after 2 years they billed me 190$. I opened a support ticket, and they refunded me within a few hours. Excellent support team and software!.” – Jochem on Trustpilot on 3 July 2023
Negative Reviews
Negative TradingView reviews complain about customer service being hard to reach. Many people have trouble finding how to contact support. According to Trustpilot, the support email for TradingView is: support@tradingview.com, and the phone number is: +1 833 247 1523.
“No phone number or email provided on website and no way to talk with anyone for billing issue. Sign up for free trial and keeps withdrawing money from our account without our authorization. Ask to open a ticket for support, however, you have to go through the list which does not have your problem at all and they design the way you never reach to the last step to open a ticket. If they don’t want to talk with the customer, why they have a business?” – JH on Trustpilot on 28 Nov 2023.
TradingView Review – My Final Take
TradingView offers a wide range of tools and charts, an active community of traders, and flexible pricing options. It is definitely worth considering if you’re looking for a trading analysis platform.
The free version of the platform is great for casual investors and allows you to view most assets with nearly real-time data for free.
If you are actively trading and require advanced indicators, more charts per layout, and real-time data, you should consider upgrading to a paid plan.
TrendSpider is an advanced charting and automated AI technical analysis platform built for traders. Over my several years of trading, I have used nearly every platform available, and I believe TrendSpider is one of the best for charting. Continue reading to learn more about TrendSpider and what to consider before spending money on it.
Overview of TrendSpider
TrendSpider
✓ Real-time data included
✓ 16 charts per layout
✓ AI-powered analysis tools
✓ Pricing: $74-$149 per month
25% Off Coupon Code: FTW25
Pros
✓ Automated technical analysis features make charting easy
✓ Seasonality trends help you spot which months a stock performs well
✓ Track all markets, including stocks, ETFs, futures, crypto, and forex
✓ Use up to 16 charts per layout, which is much higher than any competitor I have used
Cons
✗ The web-based platform can feel clunky at times, while TradingView runs a bit smoother
✗ A bit pricy when compared to competitors
Review of TrendSpider Charting & Indicators
When it comes to charting on TrendSpider, it provides everything a trader would want, including over 200 indicators to choose from and the ability to have up to 16 charts on one layout. TrendSpider offers a plethora of drawing tools, plus the automated features will draw trendlines for you.
The platform even has its own proprietary chart type called raindrop charts, which is essentially like a volume profile built into a candle. Another feature I like about TrendSpider is the ability to set anchor points. For example, you can set the anchor point at the lowest point on the chart so your volume by price and anchored VWAP only show you the most relevant volume data.
The only downside I have noticed about TrendSpider is the platform can feel a bit laggy at times, but it is not bad enough to be a huge burden. However, it is something to note if your computer isn’t the fastest.
TrendSpider’s Automated Technical Analysis Features
One of the best features of TrendSpider is the automated technical analysis tools. Here are all of the automated tools that TrendSpider offers:
Fibonacci levels – automatically draws Fibonacci retracements on your chart. My experience using this tool was hit or miss. Sometimes it worked perfectly, but sometimes I would prefer it to have drawn the retracements in different spots.
Trend lines – automatically draws several trend lines on your chart so you never miss key trends. The auto trend lines features is awesome, and it definitely catches lines that the human eye could easily miss.
Candlestick patterns – automatically detects candlestick patterns such as Doji and hammer candles. The auto candlestick pattern recognition is hit or miss in my experience, but it doesn’t hurt to turn it on.
Chart patterns – automatically detect triangles, head and shoulders, channels, and more. The auto chart patterns tool works well most of the time in my experience using it.
Heatmap – detects areas of support and resistance based on historical levels. The heatmap tool is a great extension to volume by price and helps highlight key levels.
Using TrendSpider’s Scanner
Another great feature of TrendSpider is the scanner it offers, which can be prompted with a GPT condition or from a list of parameters. If you prompt the GPT parameters correctly, scanning for your exact parameters takes much less time.
For example, instead of manually adding a parameter to scan for stocks above the 200 SMA, you can simply type “above 200 SMA,” and it will add the parameter for you. In my experience, it actually works better than I expected, and I highly recommend you try it if you are looking for an easy scanner.
TrendSpider Indicators
TrendSpider allows you to use tons of indicators from basic ones like the RSI and moving average lines to the volume by price. You can add indicators to TrendSpider by clicking the indicators button at the top of any chart. From here you can search for any indicators you like. Alternatively, you can click the assistant button at the top right of the chart to add indicators by simply typing in a command like “add Ichimoku indicator.”
TrendSpider Volume by Price
The volume by price indicator, also known as the volume profile indicator on other platforms, allows you to see volume horizontally instead of vertically. This allows you to determine areas of supply and demand with ease.
Volume shelves, also known as high volume nodes, are price levels where a lot of volume has been traded. This indicates it is a significant area of support or resistance, since many traders are either long or short at that price level. You can spot a volume shelf on the chart by adding volume by price to your chart and finding the price levels with the longest horizontal bars.
TrendSpider’s AI Assistant
One of my favorite features of the TrendSpider platform is the AI assistant you can access at the top right of the platform. You can use this assistant to do anything from removing indicators from your chart to setting up advanced technical screens.
The assistant is essentially an AI chatbot built into the platform that you can prompt. For example, if you want to add the RSI indicators to your chart, instead of manually adding it, you can simply type, “add RSI indicator” and it will bring up a list of options you can choose from to complete the action.
Is TrendSpider Worth It?
While TrendSpider is a bit expensive compared to its competitors, I believe it is worth it for serious traders who want automated analysis and advanced indicators. You can also take advantage of my affiliate link to save 25% on your subscription. During the checkout process, enter the coupon code FTW25 to claim your 25% off discount! TrendSpider is incredibly innovative and offers proprietary features like raindrop charts and promptable scanners.
You can watch my full review video of TrendSpider below:
Learn how to get a TrendSpider discount by watching this video!
While TrendSpider is great, I still believe that TradingView is the best overall charting software for most people due to its freemium model and much lower plan prices for premium features. However, TrendSpider does have more to offer than TradingView if you are willing to pay the price for it. I recommend you try several charting software out and decide which suits your needs the best before committing to an annual plan.
Backtesting options strategies can be difficult, but there are plenty of free and paid software to streamline the process.
My favorite options backtesting software is Option Omega because it has one-minute data back to 2013, and works for nearly every strategy. Continue reading to learn about Option Omega and my other favorite options backtesting software.
Traders who prefer manual backtesting and integration with brokers
5-minute, connect with brokers for real-time
Most stocks, indices, and ETFs with options
Connect with brokers, Real-time data access, Send orders to broker
10-day trial for £10, 3 months for £160, 12 months for £525
The 3 Best Options Backtesting Software Reviewed
1- Option Omega
Option Omega is my top pick for options backtesting because it is automated, has historical 1-minute data, and allows you to build portfolios to combine multiple strategies. You can read my full review of Option Omega to learn more.
Key features:
Automated backtesting for SPY, SPX, IWM, QQQ, TSLA
1-minute historical data so you can accurately test 0DTE and 1-DTE strategies
Test from 1/1/2013 – yesterday
Combine several backtests with the portfolio feature
Export backtests to CSV file to analyze further
Pros and Cons of Option Omega
Here are the pros and cons of Option Omega:
Pros
Cons
1-minute historical data, as close to real-time as possible
Limited to only 5 tickers
Can run 10+ year backtests dating back to 2013 in minutes
tastylive’s Lookback is great if you want to get started with backtesting options for free. It includes every major ticker, and allows you to get a feel for automated backtesting software. However, if you want to set advanced parameters and have the most accurate data, Option Omega is better.
Key features:
Lookback is free, allowing anybody to get started with no barrier to entry
Ability to backtest individual trades
Set basic trade parameters for automated backtesting
Forward testing capabilities
Test several tickers dating back to 1/1/2010
Export results to CSV file
Pros and Cons
Here are the pros and cons of tastylive Lookback:
Pros
Cons
Free to use
Less customizable parameters than Option Omega
Automatic backtesting with many tickers
Data is likely not 1-minute historical data
Ability to export data to CSV
3- OptionNET Explorer (ONE)
OptionNET Explorer (ONE) is an excellent software to use if you run advanced multi-leg strategies that rely on several adjustments. Trades like the space trip trade (STT) and other advanced strategies require advanced software like ONE to track. Platforms like thinkorswim do a decent job at tracking these, but it becomes harder after a few adjustments.
Key features:
5-minute historical data
Connect with thinkorswim, IBKR, and Tradier, to monitor your live positions
Get free access to real-time data by connecting your brokers live data feed
Ability to send orders directly to your broker
Pros and Cons
Here are the pros and cons of OptionNET Explorer:
Pros
Cons
Connects with various brokers
No automated backtesting features
5-minute historical data for manual backtesting
No monthly pricing option
OptionNet Explorer Pricing
ONE costs 10GBP (~ $12) for a 10-day trial, 160GBP (~ $200) for 3 months, and 525GBP (~ $660) for one year.
OptionNet Explorer Pricing
Details
10-day Trial
10 GBP (about $12)
3 Months Subscription
160 GBP (about $200)
Annual Subscription
525 GBP (about $660)
Manual Backtesting vs. Automated Backtesting Software
Automated backtesting is when you set trade parameters and let the backtesting software do all of the work for you. A manual backtest is when you open, close, and stop out of all of your trades one by one while logging your results.
Automated backtesting is generally preferred since it takes much less time, but it gives you less control over the results. Manual backtesting is best for testing complex multi-leg strategies since automated software may skew the results if some trades incur wide bid-ask spreads.
For example, if your strategy only involves selling naked puts, automated backtesting will be fine. However, if you want to test an iron condor strategy, which involves four legs, manual backtesting will give you more control.
I have used thinkorswim and tastytrade personally, and they are both great platforms for both active traders and long-term investors. tastytrade offers lower commissions for futures trading, but lacks in charting features compared to thinkorswim. Another difference is thinkorswim is owned by Schwab, giving you access to banking and other additional features tastytrade does not offer. tastytrade also offers crypto trading, while thinkorswim and Schwab do not.
Full disclousure, the links to tastytrade in this article are my referral link, and will give you a sign-up bonus. I may also receive a referral bonus at no extra cost to you.
Overview of thinkorswim
thinkorswim is a trading platform that is currently available for Charles Schwab and TD Ameritrade account holders. thinkorswim offers one of the best platforms for active traders thanks to its advanced charting features, active trader, and customizability make it an excellent platform for active day traders and long-term investors alike.
tastytrade and thinkorswim were both founded by Tom Sosnoff. TD Ameritrade bought the thinkorswim platform in 2009 for $750m, and IG bought tastytrade in 2021 for $1b.
Overview of tastytrade
tastytrade (formerly tastyworks) is a brokerage platform owned by IG. It was designed to specialize in options trading and has the tastylive education network streaming live on the platform every day. tastytrade is an excellent platform for active traders, providing competitive futures and options pricing, an active trader tab, and live education.
Pros and Cons
thinkorswim Pros
– Advanced charting and analytical tools catering to traders of all levels.
– Wide range of investable assets, including stocks, options, futures, and more.
– Highly customizable interface and trading environment.
thinkorswim Cons
– The platform’s extensive features might overwhelm new traders.
– Requires a TD Ameritrade account, which might be a barrier for some international traders.
tastytrade Pros
– Specializes in options trading with comprehensive tools and resources
– Offers the tastylive network for daily live trading education and insights.
– Competitive pricing structure for active traders.
tastytrade Cons
– May have a steeper learning curve for beginners not focused on options.
– Limited in terms of asset variety compared to more comprehensive platforms.
Options Trading on thinkorswim and tastytrade
thinkorswim and tastytrade are both excellent platforms for options traders. Both provide options chains with tons of customizability, allowing you to view the option data that matters to you whether it is delta, volume, or open interest. Both platforms also offer competitive pricing options and futures options.
thinkorswim vs. tastytrade Pricing
Feature
thinkorswim Pricing
tastytrade Pricing
Option Commissions
$0.65 per contract
$1 to open, free to close ($.07 fee per contract)
Futures Commissions
$2.25 (+$1.40 fee) per contract
$1.25 (+$0.30 fee) per contract
Futures Options Commission
$2.25 (+$0.57 fee) per contract
$2.50 to open (+$0.30 fee per contract), free to close
Micro Futures
$2.25 (+$0.37 fee) per contract
$0.85 (+$0.30 fee) per contract
Micro Futures Options
$2.25 (+$0.22 fee) per contract
$1.50 to open (+$0.30 fee per contract), free to close
The main difference is that thinkorswim is more cost-effective if you plan to let your option contracts expire since tastytrade frontloads the pricing when you open.
Technical Analysis and Charting
thinkorswim takes the lead in technical analysis and charting, offering a more extensive array of tools and indicators than tastytrade. Its platform is designed to accommodate the needs of technical traders with customizable charts, a wide range of technical indicators, and drawing tools.
tastytrade does provide some solid charting tools, but it lacks advanced indicators like the volume profile and level II data.
Mobile Apps
tastytrade and thinkorswim offer solid mobile apps, but overall the tastytrade app provides a better user experience. The thinkorswim app seems a bit dated and overly complex, while the tastytrade app is more modern and provides a less clunky interface.
Fundamental Analysis Data & News
tastytrade and thinkorswim provide financial data and news directly in the platform, but thinkorswim is overall better when it comes to finding news articles per ticker and accurate fundamental data.
thinkorswim provides real-time fundamental data like market cap and shares outstanding. tastytrade also offers similar features, but it is newer and seems not to be as consistent.
thinkorswim has an excellent news widget where you can type a ticker and view relevant news stories for any company. tastytrade has some news available on its dashboard, but it doesn’t offer company-specific news.
Data & Trading Execution
thinkorswim offers level II data, while tastytrade does not, giving thinkorswim the edge when it comes to advanced data availability. However, both platforms offer real-time data for free with a funded account.
Both platforms also offer an active trader tab, allowing you to get in and out of trades quickly.
TrendSpider is one of the best charting software for stocks and provides tons of cool automated technical analysis tools. Continue reading to learn more about each of the TrendSpider plans and how much they cost.
TrendSpider Pricing Key Takeaways
TrendSpider’s normal pricing ranges from $107-$447/month or $1,284-$2,682/year.
Occasionally, TrendSpider runs discounts that make the starting price around $53 per month.
TrendSpider offers three plans: Standard, Enhanced, and Advanced.
You can save 25% off your TrendSpider subscription using the coupon code: FTW25.
TrendSpider costs $107-$447 per month or $1,284-2,682 annually, depending on which plan you choose. However, you can save 25% off your subscription when you use my affiliate link and enter my promo code: FTW25. TrendSpider will also run sales occasionally which will lower the starting price to around $53 per month. You can ensure you get the best deal by using my affiliate link and coupon code to sign up.
TrendSpider Plans Comparison
TrendSpider offers three plans: Standard, Enchanced, and Advanced. You can compare these plans using the table below:
TrendSpider is worth it if you like the option of having up to 16 charts per layout and real-time data included in the pricing. TradingView charges $59 per month for its highest plan, which only comes with eight charts per layout, plus you still have to purchase additional real-time data. Consider reading my full review of TrendSpider before purchasing a subscription to learn more.
TrendSpider also comes with many additional features, such as automated technical analysis and its proprietary raindrop charts. Overall, TrendSpider offers more features than TradingView, but it costs more. I recommend trying both platforms and sticking with the one that you prefer most. You can read my article comparing TrendSpider and TradingView to learn more.
TrendSpider is an advanced charting platform you can use to track stocks, crypto, futures, forex, and more. Here are some of the main features of TrendSpider:
Advanced screeners – you can prompt the screener with sentences like “stocks above 200 SMA”
Proprietary raindrop charts – an advanced alternative to candlestick charts
Multiple charts per layout – use up to 16 charts on a single screen
Backtesting – no-code backtesting capabilities to test indicators, patterns, and more
If you are looking for a powerful and reliable platform to analyze and trade the financial markets, you might have come across TradingView and TrendSpider.
In this article, we will compare TradingView and TrendSpider based on their main features, benefits, drawbacks, and pricing. By the end of this article, you will have a clear idea of which platform suits your needs and preferences better.
Key Takeaways
TradingView is best if you want advanced charting tools for the best price, while TrendSpider is best for those looking for additional features like automated technical analysis and more charts per layout.
TrendSpider is a bit more expensive, but the pricing includes real-time data for most assets except futures.
TradingView is one of the most widely used platforms for charting, screening, and trading the financial markets. It supports a wide range of markets and data sources, including international stocks, bonds, forex, crypto, and futures.
You can access TradingView from any web browser or mobile device, as well as integrate it with popular brokers such as Oanda, Interactive Brokers, TradeStation, and more.
Some of the main features and benefits of TradingView are:
A powerful and user-friendly screener that allows you to filter by technical and fundamental criteria, such as price, volume, indicators, earnings, dividends, ratings, and more.
A large library of indicators and drawing tools, as well as the ability to create custom indicators using Pine Script, a proprietary coding language that is easy to learn and use.
A direct broker integration that enables you to trade from the platform without switching to another application or website. You can also use paper trading to practice your strategies without risking real money.
A social network that enables you to share your ideas, learn from experts, and access live streams and trade signals. You can also join chat rooms, follow other traders, comment on charts, and participate in contests.
If you want to try TradingView risk-free, you can sign up for a TradingView free trial to test out all of the premium features at no cost! When you use my affiliate link to register, you will also get a discount on your subscription. You can also read my full review of TradingView to learn more.
TrendSpider is a great alternative to TradingView for those who want a more advanced platform with automated technical analysis tools and more charts per layout.
TrendSpider is a relatively new platform that aims to automate technical analysis and make it easier and faster for traders. It uses artificial intelligence and machine learning to draw trendlines, chart patterns, Fibonacci retracements, candlestick patterns, and more. It also allows you to create custom strategies and backtest them with historical data.
Some of the main features and benefits of TrendSpider are:
An advanced automated chart pattern recognition that draws trendlines, chart patterns, Fibonacci retracements, candlestick patterns, and more. You can also adjust the sensitivity and accuracy of the automation according to your preferences.
A no-code custom strategy builder and backtester that allows you to test different scenarios and optimize your trading performance. You can use predefined templates or create your own based on custom parameters.
A comprehensive technical screener that incorporates pattern recognition and multiple timeframes. You can scan for stocks that match your criteria across different timeframes simultaneously.
An alternative data integration that provides insights from social media sentiment, analyst estimates, dark pool volume, short volume, and more. You can use these data sources to complement your technical analysis and find hidden opportunities.
If you want to try TrendSpider out, you can get 25% off your subscription using my affiliate link and the code: FTW25! You can also read my full review of TrendSpider for more information.
Factors to Consider Between TradingView & TrendSpider
Both TradingView and TrendSpider offer excellent features and benefits for traders of all levels and styles. However, there are some differences between them that you should consider before choosing one over the other. Here is a table comparing some key features of TradingView and TrendSpider:
Indicator Selection
Both TradingView and TrendSpider offer plenty of indicators for technical analysis. However, there are some differences in their indicator selection that might affect your trading style.
TradingView Indicator Selection
TradingView offers session volume profiles, which show the distribution of volume within a specific day. This is great for day traders who enjoy using volume or market profile.
TradingView also has a large community of people creating custom indicators using Pine Script, which is a proprietary coding language that is easy to learn and use. You can find thousands of custom indicators on TradingView’s public library or create your own based on your needs and preferences.
TrendSpider Indicator Selection
TrendSpider only offers volume by price, which shows the distribution of volume across different price levels over several days. The volume by price can be anchored from anywhere on the chart, so technically, you can anchor it at the start of the day to simulate a session volume profile.
TrendSpider does not have a similar community custom indicator feature, but its team is a lot more responsive and knowledgeable about trading, reducing the need for the community aspect.
Backtesting
Backtesting is the process of testing your trading strategies with historical data to evaluate their performance and profitability. Both TradingView and TrendSpider allow you to create and backtest your own trading strategies with custom parameters.
You can also write your own trading strategies using Pine Script, which gives you more flexibility and control over your logic and rules.
You can then use TradingView’s strategy tester to analyze the results of your backtesting, such as net profit, drawdown, win rate, and more.
TrendSpider Backtesting
TrendSpider allows you to create your own trading strategies without coding using its no-code custom strategy builder. You can use predefined templates or create your own based on custom parameters, such as indicators, patterns, timeframes, and more.
You can then use TrendSpider’s automated backtester to test your strategies with historical data and see how they would have performed in the past. The backtester allows you to compare different strategies and optimize them based on various metrics, such as net profit, drawdown, win rate, and more.
Multiple Chart Abilities
TrendSpider allows you to view up to 16 charts per layout, which is more than TradingView’s non-professional plans, which only offer up to 8 charts per layout.
TradingView 8 Charts in a Layout
This can give you more flexibility and convenience when analyzing multiple markets or timeframes at once. However, if you need more than 8 charts per layout on TradingView, you can upgrade to a professional plan that offers up to 16 charts per layout.
Another difference is that TrendSpider allows you to sync your charts across different timeframes, which means that when you change the timeframe on one chart, it will automatically change on all the other charts in the same layout.
Trendspider 16 Charts in a Layout
This can help you keep your analysis consistent and save time when switching between timeframes. TradingView does not have this feature, but you can use its split-screen mode to view different timeframes side by side.
Both TradingView and TrendSpider offer excellent stock screeners that allow you to filter stocks based on various criteria. However, there are some differences in their stock screeners that might affect your trading results.
You can also use TradingView’s social network integration to find stocks that are popular or trending among other traders. You can access live streams, trade signals, chat rooms, and more from TradingView’s social network.
TrendSpider Screeners
TrendSpider offers a technical screener that incorporates pattern recognition and alternative data integration. You can filter stocks by technical criteria, such as indicators, patterns, timeframes, and more.
You can also use TrendSpider’s pattern recognition feature to find stocks that match specific chart patterns or candlestick patterns across multiple timeframes. Additionally, you can use TrendSpider’s alternative data integration to find stocks that have unusual options volume, high social media sentiment, positive analyst estimates, high dark pool volume, high short volume, and more.
Mobile App
Both TradingView and TrendSpider have solid mobile apps that make charting on the go relatively easy. However, the web platforms are, of course, much better in terms of functionality and features.
TradingView Mobile App
TradingView’s mobile app is available for iOS and Android devices. It allows you to access most of the features of the web platform, such as charts, indicators, drawing tools, and more. However, some features are not available on the mobile app, such as Pine Script editor, strategy tester, split screen mode, and more.
TrendSpider Mobile App
TrendSpider’s mobile app is only available for iOS devices. It allows you to access most of the features of the web platform, such as charts, indicators, drawing tools, screeners, pattern recognition, and more. However, some features are not available on the mobile app, such as strategy builder, backtesting, alternative data integration, and more.
Pricing
TrendSpider is slightly more expensive than TradingView, but it also comes with more features and real-time data at no additional cost. TradingView charges for real-time data on top of the subscription charge, although many popular ETFs like SPY are just barely 1 second delayed without paying on TradingView.
TradingView’s pricing starts from $14.95/month for the basic plan and goes to $59.95/month for the highest tier subscription.
However, these prices do not include real-time data for most markets. You have to pay extra charges for real-time data depending on the market you want to access.
TrendSpider’s pricing starts from $39/month for the standard plan and goes up to $179 per month for the highest tier
These prices include real-time data for most markets except futures. You have to pay extra charges for futures data depending on the exchange you want to access.
TradingView vs. TrendSpider | Bottom Line
TradingView and TrendSpider are both excellent platforms for charting, screening, and trading the financial markets. However, they have some differences that might make one more suitable for you than the other.
Ultimately, the choice between TradingView and TrendSpider depends on your personal preferences and trading goals. You can try both platforms for free for a limited time and see which one works better for you. Alternatively, you can use both platforms together to get the best of both worlds.
Click get started, and choose the plan for prefer.
Fill in your personal details, and when prompted, enter the coupon code FTW25 in the box.
Complete your registration and enjoy your discounted membership!
That’s it. You’ve just secured your TrendSpider discount for life. As long as you keep your subscription active, you’ll pay less than the regular price.
Why Use TrendSpider for Technical Analysis?
TrendSpider is not just another charting platform. It’s a smart and automated system that can help you with technical analysis, market scanning, backtesting, and more. Here are some of the reasons why you should use TrendSpider for your trading:
Volume by price: TrendSpider allows you to see the volume distribution at different price levels, which can help you identify support and resistance zones, breakouts, and reversals.
Automated analysis: TrendSpider uses algorithms to detect trendlines, patterns, Fibonacci retracements, candlestick formations, and other technical indicators automatically. You can also customize the settings to match your own style and preferences.
Real-time data: TrendSpider includes real-time data for stocks, ETFs, forex, crypto, and futures in all plans. You don’t have to pay extra for data feeds or worry about delays or inaccuracies.
Dynamic price alerts: TrendSpider lets you set alerts based on various criteria, such as price movements, technical indicators, patterns, or even custom scripts. You can receive notifications via email, SMS, or browser when your conditions are met.
Automated trading bots: TrendSpider enables you to create and run trading bots that can execute your trades based on your rules. You can backtest your strategies, optimize your parameters, and monitor your performance.
These are just some of the benefits of using TrendSpider for technical analysis. There are many more features and tools that you can explore and use to improve your trading results.
TrendSpider Discount Code – Bottom Line
TrendSpider is a great platform for any serious trader who wants to take their technical analysis to the next level. It offers a unique combination of automation, intelligence, and customization that can help you find trading opportunities faster and easier.
If you want to get started with TrendSpider today, don’t forget to use my coupon code FTW25 to get a 25% discount on any plan.
