On this page you’ll find some of the trading tools, websites and resources that have helped me on my journey.
These are the tools and services that I use the most in my trading. Some of the links below are affiliate links but I only share services that I personally I use and trust.
Best For Charts, Screens And Analysis
Finviz stands for financial visualizations and I use it every day without fail. I’s an incredible website where you can screen for stocks, look at heat maps and see what’s been happening in the markets. Although most of the features are available for free, I actually recommend paying a little extra for Finviz*Elite.
For around $25 a month you get access to real-time stock quotes and data (including pre-market data), advanced technical charts (including intraday charts), sophisticated visualisations and correlation algorithms. If you are interested in intraday and pre-market charts, this is a great value service.
Finviz*Elite has the most powerful stock screener online with a huge amount of filters and now comes with a back-tester where you can simulate strategies on 10,000 stocks. I highly recommend Finviz*Elite and it is by far and away my favourite trading tool!
Best For Backtesting
The Finviz backtester is OK for testing out ideas but for serious back-testing you need something slightly more powerful. I tried lots of different options when I was looking for a back-testing software and the best was Amibroker. Incredibly, it was also the most affordable.
You can do almost anything you want with Amibroker, from running 20 year backtests on historical data, to portfolio optimisations, walk-foward analysis and automated trading. It’s an incredibly fast and flexible solution. The programming language (AFL) can be a little difficult at first but it’s worth the effort once you’ve learnt the basics.
Best For Historical Data
Once you have back-testing software the next thing you need is some clean and reliable data. Free stock data, from sources like Yahoo and Google, is so full of holes it can be damaging to your wealth so it is imperative to pay some money for a good provider.
Norgate Premium Data has an experienced team dedicated to keeping their data clean and up to date. There’s several different packages of historical data available and they’re compatible with many platforms including Amibroker, MetaStock, Trading Blox and TradeStation.
I use Premium Data for back testing all of my trading systems and am very happy with the quality and the service. Norgate is soon to roll out a package that includes historical constituents and this is an incredibly helpful feature for dealing with survivorship-bias.
Best For Trading Ideas
As a trader, you should be spending as much time as possible looking for new trading ideas and that’s why Quantpedia is so powerful.
The website contains an impressive collection of quantitative trading strategies and comes from the same people behind Finviz. The service contains over 300 different trading strategies many of which are pulled from academic papers and finance journals.
I’m a fully paid up member and many of my most profitable trades have been thanks to strategies I found on Quantpedia. See my full review of Quantpedia here.
Best For Asset Allocation
Allocate Smartly tracks over 30 tactical asset allocation strategies and provides detailed insights and reliable backtest results.
Members can see the performance of each investing strategy and create custom portfolios at the click of a button. Each portfolio can then be set up to provide real-time notifications, making portfolio management a breeze.
Allocate Smartly also provides more advanced features such as a correlation matrix and backtesting alternate trading days. This is a really great service that takes the hard work out of investing.
There are a few trading journals around on the web but I like Tradervue. It’s web-based and very easy to use. I can download my trades in Interactive Brokers and upload them to Tradervue in a couple of clicks. The program supports all the main brokers and there is very little manual work needed to start analysing your trading strategy.
Tradervue analyses all your trades for you and presents them in clear charts providing excellent insights into where your profits are coming from. It also has powerful comparison and tagging features to help improve your trading.
Running a website and trading business can be hard work which is why I like to work with as many talented traders and coders as I can. One programmer who I work with and fully recommend is Matt Radtke who can be found online at his Quant For Hire blog.
Matt has worked with me on some of the systems on Marwood Research. He is an expert in Amibroker and can be hired for custom programming projects at reasonable rates.
It’s always worth getting Matt’s expert opinion when undertaking a coding project. Make sure you let him know I sent you!
Looking for book recommendations? Check out my list of 100 Favourite Trading Books.