When you want financial freedom from the tyranny of a drab cubicle job, you want to be able to control your income. Do you want a distant boss controlling whether or not you can pay the mortgage or the grocery bill every month? Do you want an impersonal corporate entity controlling your retirement and financial future? Of course, you do not. You want to get into day trading because that can help you break the chains of regular employment.
And finding the right tools for your trading adventure is key to becoming profitable. Tradestation is known as the trader’s platform because it was built and designed by traders. There is even an original coding language built by the founders that allow users to create proprietary algorithms that allow you try to exploit the market. It is a platform built for electronic trading.
The platform’s original purpose was to be centered on professional traders. But now it is open to the public and the minimum account balance dropped to $500, so it is more accessible than it has ever been. For pattern day traders, that minimum jumps to $25,000, but it is a small price to pay for such a detailed pro-style trading platform.
The individual trades execute in a lightning fast manner from the Tradestation desktop interface. Plus there are options for traders to build their own trading strategies on the program and test them before implementing them. That is a hallmark of an excellent trader: being able to incorporate abstract thinking and macro trends into your techniques and then automating them. Monitoring is still important, but having the tools to help you take advantage of market trends is great.
The back-testing is a nice feature as well. Traders can utilize more than 90 years of historical data covering daily market activity in a variety of asset classes. Tradestation University is a solid option for newer traders looking to understand the industry. Free video tutorials and ebooks can give a nice supplement to market experience and more robust day trading education sites.
No matter what platform you choose to use, you want to be able to find a day trading education site that will give you the initial push needed to learn strategies and techniques. Independent instructors with long-form experience as traders are great for novice students. It is an essential starting point for aspiring traders. The veteran instructors are key to seeing the market with clear eyes and pushing past all the initial issues that a beginner trade might encounter.
There is no doubt that the long history of Tradestation as an asset for professional traders gives the platform an instant cachet in the industry. The needs of Wall Street traders are intense and the company has decades of experience catering to those needs. For novice day traders that want enter the market and get to the next level of trading, this platform is exactly what is needed. The commissions are reasonable, the tools are excellent and the service is outstanding.