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Jul 03, 2020 We've ranked the best personal finance software for Mac. Best Online Stock Trading Sites. But not before you get a 34-day free trial. The company claims new budgeters save $600 by the.
TAS Market Profile is one of the best day trading software programs on the street. There are a couple different packages you can choose from depending on what you are looking for. They have a TAS Indicator Suite that offers 7 of their proprietary indicators including: TAS Market Map, TAS Boxes, TAS Vega, TAS Navigator, TAS Ratio and TAS Compression Levels.
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Oct 09, 2017 Some trading platforms claim to be “the best stock trading platform for Mac” but are actually based on Java and we don’t recommend any apps that are based on Java for many reasons. Many trading platforms based outside of the USA are not available to users in the USA due to strict laws on CFDs (Contract For Difference) and the Dodd-Frank Act.
The question of whether a Mac is superior to a PC in trading or vice-versa is a hotly debated one. There is no question Windows PCs are far more ubiquitous than Macs–with an OS market share close to 90% vs. just 9.2% for Mac OS.
According to Netmarketshare, there are more than 20 Windows-based PCs for every Mac!
But does the prevalence of PCs necessarily make them better trading tools than Macs?
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For starters, the much higher price point for an average Apple computer certainly has a lot to do with their lower market penetration. A lightweight 13-inch MacBook Air will take you back a cool $1,000 and change—about double the cost of an average Windows PC.
On average, you pay a 50% mark-up for a Mac in order to get the same amount of processor power on a PC. However, for many traders who use a single machine for trading, cost might not be a major issue. The average day trader and forex trader is more concerned about whether their trading software, indicators and trading computers give them a trading edge.
Table of Contents
1 Mac Strong Points:
2 PC Strong Points:
Mac Strong Points:
1.) Easier to Set up
The Mac is superior to the PC is several ways. Macs are generally easier to set up, start up, use and even maintain, compared to an average PC.
A Mac can go from cold boot to live trading using just a couple of mouse clicks and in well under a minute.
A PC typically involves much more hassle to set up and boot, which can be a critical consideration during the opening bell ritual.
This is before you add in the fair percentage of Windows junk—some would charitably call them “unwanted core apps” that you’ll need to rid your PC of, before you can start using it.
Of course, if you don’t know what you’re doing, you might accidentally delete necessary files/apps, so user beware!
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2.) Higher reliability
Macs have a reputation for being true workhorses that rarely break down. Mac hardware is single-vendor-controlled–by Apple.
Every components’ drivers are certified and supported by that one vendor. That dramatically cuts down on the hassles of installing and updating device drivers.
Although you can use the default VGA driver for a Windows PC, Macs have full-featured drivers, installed by default and right off the Mac OS X DVD.
Macs, on average, do not crash as frequently as PCs and do not need a lot of protective software such as anti-adware, antivirus, and anti-spyware that costs money and slows down machines.
You certainly wouldn’t want your computer to start acting up in the middle of a trading session!
Windows PCs have hits and misses, with some brands being more reliable than others. Lower-end PCs, in particular, tend to suffer a rather sharp drop-off in reliability after the first two years of operation, with problems such as overheating and cracked cases.
Macs, on the other hand, tend to be uniformly good with superb longevity.
Part of it lies in the use of higher-grade hardware by Apple, while the other part is due to the use of very stable software.
The OSX platform is very stable and even older OSX versions work well enough for most purposes.
A Mac will run for months with no need for a reboot.
The underlying UNIX OS kernel is very stable and reliable.
3.) Better User Satisfaction/ Customer Support
When it comes to satisfying the user, Macs beat PCs handily. Macs have ranked at the top of customer satisfaction surveys for more than a decade. The same case applies to customer support.
Apple has an impeccable service record that many PC manufacturers would be hard-pressed to match. Many Apple products, including Macs, come with a one-year limited warranty and 90 days of complimentary phone support.
If anything goes wrong with your Mac, you can book an appointment with an Apple Genius at an Apple retail store.
PC Strong Points:
1.) Better Compatibility with Major Trading Platforms
If there is one area where Windows PCs beat Macs hands down, when it comes to ease of trading, it’s Windows’ compatibility with major trading platforms.
A study, done by EZ Trading Computers, found that 72% of the largest and most popular trading platforms for day traders and forex traders are Windows-compatible, while only 28% have native Mac versions of their trading platform.
A native application is software that is specifically designed to run on a particular operating system.
Of course, this data was generated prior to StocksToTrade Pro, which is compatible for both Mac and PC.
The latest Intel-based Macs can dual-boot Windows. The ability of Macs to run Windows natively is a big step forward. But, pure Windows machines still have an edge in this category.
2.) Less Expensive
Some traders use multiple computers for trading and control all of them from one keyboard and mouse.
This allows the trader to distribute the workloads between the computers and can take one machine and carry it with them without interrupting the work processes of the other machines.
For a trader who uses a single machine to trade, the $400 or $500 difference between a single Mac and a PC might not be big enough to warrant choosing a PC over a Mac. But, for a trader who is using six machines, the cost difference between the Macs and PCs can be huge.
Throw in the higher cost of software for Macs and the difference might be too big to justify using a Mac.
3.) PCs are more versatile
With PCs, you really do get the best of both worlds.
You can go buy a PC and everything is installed from the factory and will work just like a Mac, right out of the box.
You don’t need a CD, because everything is installed already.
If a Windows program can’t find a driver, then it goes out on the net and downloads it, so that’s not a big advantage for Macs.
Single-supported vendor or closed systems, such as OSX, are a double-edged sword that might not be worth much in the real world.
Single-supported systems smack of vendor lock-in and have less expandability and fewer options.
Converting a Mac to a Windows PC
For traders who would like to swing for the fences by running Windows-based programs and applications on their Macs, there is an option of running Windows and OS X simultaneously, through virtualization.
This is an attractive proposition for traders that prefer Macs but require some ‘must have’ Windows-only software.
Virtualization is hardly a new concept.
Leading virtualization company VMware offers VMware Fusion 11 that you can use to run Windows on a Mac/Linux machine. It works very well for the ‘must have’ things, such as email through Exchange in a corporate environment.
Another option is the use of emulation software for Macs called Parallels. The software creates a full Windows desktop environment, by seamlessly creating virtual machines with no need for rebooting.
You can expand your virtual Windows machine into full-screen mode and switch back to the Mac desktop simply by using the Command-Tab keyboard shortcut. Many people, though, prefer to switch back and forth between Windows and Mac desktops.
This can be achieved by hiding Windows desktop and simply displaying individual Windows apps.
For both Parallels and VMware Fusion to work well on your Mac, you need a powerful processor and enough RAM. This is because you will be effectively running two separate operating systems on the same computer, thus sharing resources.
For older Macs with limited processor power, running a virtual Windows machine can be a sluggish and pretty disappointing experience. Further, Parallels limits the number of monitors that you can use without seriously degrading the user experience to just two.
Both Parallels and VMware Fusion require under $70 for a single-user license.
The two products provide pretty similar features, though Parallels has a reputation for being a little more user-friendly than VMware Fusion.
Verdict:
Ultimately, Windows PCs continue to dominate the world of finance, simply because most trading apps are Windows-only programs. The average trader is, more often than not, a Windows user and most trading platforms are written for Windows PCs.
Even the trading programs that are written for Macs mostly employ a Windows-first approach. The versatility of the PC lends itself well to many trading platforms. If you do choose a PC for trading, go for a higher-end brand from a reputable manufacturer.
That being said, if you prefer a Mac, there is nothing stopping you from enjoying the user-friendliness we have all come to enjoy from Apple–especially if you are unhindered by pro-Apple software.
Want to know what we Recommend?
Check outour Top Trading Computer & Laptop Recommendations!
What about you? Which do you prefer and why?
Seriously, let us know in the comments below. We’re friendly and we don’t bite! ?
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For those of us with the time and passion, day trading can be a great trading technique to use. Day trading requires a tremendous amount of discipline as you will be jumping in and out of multiple positions a day.
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Learning the techniques that the pros use is the best way to become a pro yourself. If you have the dedication to complete a few day trading courses, you will be on the path to becoming a day trading master. We’ve compiled a list of day trading courses for beginners below that you can use to start your journey.
Stock Whisperer
The Stock Whisperer offers a variety of financial courses, one of them being a day trading workshop. The course, named ‘Counting the Cards of Wall Street’, aims to educate students in identifying common patterns and finding the highest probability day trades. The workshop goes through the basic fundamentals of day trading and adds on tips and tricks.
Winner’s Edge Trading
This trading academy was opened relatively recently back in 2009. Despite a short track record, Winner’s Edge Trading has an established trading course that walks beginners through the basics of day trading. Although purchasing full access provides new tips and additional guidance, the company provides its core training program free of charge. Included in this free program are trading signals to look out for and blog posts that detail tried strategies.
Investor’s Underground
Investor’s underground instills the fundamentals behind day trading using comprehensive guides a series of informative videos that break down the basics in an easy to understand manner. The 8-hour beginners course comes along with 1-on-1 mentorship and a video lesson library. Investor’s underground also offers a taste of their paid course by offering a shorter free course that serves as an introduction to day trading.
Bulls on Wallstreet
Bulls on Wallstreet offers a short course that provides a general overview of day trading. The flagship product of Bulls On Wallstreet, however, is their live trading courses. Their live trading courses are meant to connect novices to experienced traders. Since the sessions are live, students are able to jump in and ask questions and interact with the instructors.
TradePro Academy
TradePro Academy operates in a specific niche of day trading. Their main beginners course for day trading focuses on the trading of options. Through a series of nine lessons, TradePro Academy introduces students to the world of options and explains how to effectively apply day trading strategies to them. In addition, towards the end the course guides students into building their own actionable trading plan that they can employ in the real world.
Warrior’s Trading
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Warrior’s Trading has grown rapidly in recent years becoming one of the largest day trading communities around. It’s course designed for beginners, Warrior Starter, is described as an essential course for those on a budget. The package includes a comprehensive core day trading course which is bundled with a real-time day trading simulator. The course teaches students how to read charts and look for things like support and resistance levels.
Day Trading Academy
Day Trading Academy's(DTA) course is only for the those who are dedicated and willing to dive deep into the material. Though some material is offered online, DTA’s bread and butter are their live classes. Live classes are held with a limited number of students to ensure that students have the opportunity to interact with teachers. The course is split up into sections so that beginners do not get lost when covering advanced topics like the role of psychology and emotion in day trading. Day Trading Academy's emphasizes understanding the market based on price action rather than indicators and software.
Online Trading Academy
The Online Trading Academy(OTA) is arguably the most prestigious day trading academy out there. Depending on the type of security you are trying to trade, the pathway for progression will vary. For stock traders, students can learn to day trade stocks through in-person classes or online classes. After students take a free half-day introductory courses, they have the option of signing up for part 1 and/or 2 of the professional trader course.
Explore the courses mentioned above in more details and find out which one suits your goals the best. If you are willing to put in the hours to learn, you're already halfway to becoming a day trading master. To find out more about other investing strategies, check out our guide that explains the 5 most common investment strategies.
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