Thanks to the Internet, more and more individuals are taking control of their investments. Many are finding that trading stocks, options, or futures can not only be profitable but fun as well. One basic tool used by active traders is a software application known as a trading platform.

Essentials of a Trading Platform

Real-time streaming quotes must be part of a trading platform used by an active trader. Ideally, NASDAQ Level II quotes will be a part of the system. Level II quotes allow traders to see open orders and the market makers who have them. This visibility allows traders to see if retail investors are active in the stock or if institutional investors are pushing the stock higher. In any case, any quality trading software will have real-time quotes involved.

Live, up-to-the-minute charting applications are necessities for active traders. Preferably, a trading software program will include the capability to build various types of charts. Whether you need an intraday one minute chart or two year weekly chart, your trading software should be able to build it for you. Charts are important as they can signal price changes or show trends in a stock's price.

There is a host of other applications a quality trading software program will offer. Trading software will allow a user to set an alert for a specified security; alerts can be used to "alert" users when a stock hits a price target. Links to recent news articles can aid in keeping an investor informed of news that may influence a stock's price movement. Trading platforms are typically provided by online brokers once you open an account, or you can download them from software providers for a fee.