Here are the top 4 premium day trading tools
that has allowed me to take my trading to the next level, and they are... Day trading is a business, not a hobby. And just like any business, it takes a lot
of capital investment, in order to make more profits. I’ve made a video on the top 5 Free trading
tools to use. And those would be the ones I still recommend
beginner traders to get started with. But I do believe that once you start picking
up pace and found your focus, there will come a certain point where it's time to upgrade
and take your trading to the next level. You have to look at day trading as a business. If you’re running a business and trying
to scale, you can’t be cheaping out and trying to cut corners. And trading is the same way, once you’ve
figured out a few set ups and strategies that work well. Its time to invest more money to make more
profits. In this video I’ll be going over the top
four premium day trading tools I use. How much they cost per month. How I use them to scan for gappers to trade,
analyze stock structure, research fundamentals, and execute those ideas the fastest way possible,
and smashing the like button to double your trading account every single day. The first trading tool that I use is Trade
Ideas stock scanner. This is literally the first thing I open when
I get to my turn on my trading computer every single morning at 4am pacific time. Trade ideas has a very extensive premarket
gap scanner and there are so many different ways to customize the scanners according to
your own trading style. Do you trade more small cap low float gappers? Do you trade large cap stock gap up or gap
downs. There are settings for you to pick there. And those are just for the premarket scanning. Intraday I use trade ideas to pick up all
the momentum stocks with a momo scanner. This way I can find the most volatile stocks
with the most range. You can also customize various technical strategies
on trade ideas. For example if you want to receive alerts
and pick up stocks that has indicator crosses such as vwap and 9EMA cross with volume, trade
ideas would be the perfect tool to provide you with those technical alerts. I also use the stock detail window to really
quickly analyze the stock’s float, market cap, and short interest. This is an extremely useful tool for me to
do some quick analysis on the fly when the scanner picks up a low float runner in play. I have a video tutorial on how I set up trade
ideas and my scanner setting for you to download there as well. The next tool I want to talk about is Benzinga
Pro. I know I talk about this tool a lot in my
videos, but that's because I literally use this tool every day… and im in love. It’ll make sense in a minute. These are all the premium trading tools that
have helped me so much in terms of speeding up my research, and making more profits in
trading. Benzinga pro is essentially a newsfeed service,
but it also has some scanner components to it. So the movers section here you can customize
it to pick up premarket gappers like trade ideas. Usually once I have the gappers from trade
ideas, I go to Benzinga to do my fundamental research. I want to know why the stock is up in the
first place, is it because they had FDA approval, was it phase 1 or phase 2 trial , did the
stock find a cure for cancer. All of these are important headlines that
we as traders need to know before buying a stock. Another most common way to use Benzinga is
with keyword search functions in the news feeds. So if you focus on just trading earnings,
or FDA approval, you can search those keywords and find all the corresponding headlines and
stocks associated with them . So its with that feature that I have my small
cap reverse split keyword search set up. Each time i see a potential low float runner
show up, I’ll save them in the watchlist section. And turn on email notifications. So I’ll get alerted if any of these potential
runners file any SEC filings, or publish any news headlines. I go over this strategy in detail in this
video. Another extremely useful feature on Benzinga
is the squawk box. In which you will hear Benzinga charlie, aka
my one true love, announce out loud the real time news alerts.and most times he will announce
the breaking news before the articles are written and published on any other news sites
like CNBC. But, if you just want Benzinga Charlie. But if you just want the squawk alert feature,
you can get that for free in the thinkorswim platform. Real quick side note here in case a lot of
people didn't know about this. In thinkorswim, click top right hand support
chat button. Click on the chat room and that's where you
will see benzinga squawk. Once in this chat room you can turn on the
listen feature. Then you’ll hear all the audio alerts for
free. sometimes on squawk when Benzinga charlie
goes on break, you’ll hear this other guy. I dont know his name, let’s call him bagholder
mike. I think I like charlie more though but i might
be biased. I have a full video on my Benzinga pro set
up and even more in depth walk through of all the settings if you want to check that
out. The third premium tool I use is Briefing. This is also a premium subscription service
for news and fundamental research. But i would say the research on here goes
a lot more in depth for the large cap stocks. I don't trade just small caps guys. Especially as we approach the summer trading
season, small cap market tends to be extremely slow from my past experience. And that's where Briefing comes in handy. Each morning premarket, they provide a very
detailed premarket gap up and gap down summary with key stocks in play and their headlines. As well as the overall sentiment for S&P futures
the various markets around the world, in China, Japan, india, hk. And the website will continue feeding you
developing stories and headlines throughout the day according to your own custom preferences. I mostly use briefing for reading large cap
stock earnings reports and the details of the conference calls. Whether the company made any comments on guidance
and future outlooks or any major fundamental changes that would move the price of the stock
short term for day trading. The website is also a very reliable source
of analyst upgrades and downgrades if you know how to play those. A few other features that's worth noting on
Briefing. On the top menu here you can look at economic
calendars. Stock splits, IPO reports , and various ideas
for swing trading as well as long term investing. So briefing is a very well rounded research
site for all types of traders. Now the fourth premium trading tool will perhaps
answer one of the most commonly asked questions on this youtube channel. And that is, what is your day trading platform,
and how do you get the fastest execution and fills possible. And its very simple, to do so, you just need
to hit the like button at the bottom of this video. And check out the trading platform DAS trader
pro. A very common misconception people have is
thinking DAS trader pro is a broker. And it’s not. Das Trader is a direct access market provider,
and offers traders to execute trades on their mobile, web, and desktop platform. By itself, DAS trader pro is a real time trading
simulator. So you can essentially paper trade with live
market data and execute your trades this way. Or you can also connect your broker to DAS
trader pro if your broker offers that option. For example, I have an account on Interactive
brokers but I don’t like to use their own platform TWS. So i can connect my broker account from IB
with DAS trader platform and purchase market data subscription from Das Trader instead. And the reason many professional traders choose
to execute their trades on DAS platform instead of the default from their brokers is of course
the low latency order fills and reliability of their platform. In trading, every millisecond and every tick
on the candle counts and they have real life financial consequences. I have tried many broker platforms throughout
the years. And there are some that take a few seconds
even to fill 500 shares, and the price I get executed at, is clearly subpar. And I felt ripped off when I miss my fills
by 5 cents. Or the platform would literally freeze up. So thats why i use DAS trader pro and have
it connected with various brokers and pay for multiple subscriptions per month. Yes the speedy executions are worth it. There are various brokers that offer Das trader
connections, like Interactive brokers that we talked about, Centerpoint, Cobra Trading,
Lightspeed and CMEG. So if you are at a point in your trading where
you want to start sizing up and take it seriously, I would highly recommend trying out DAS trader
platform. Das trader platform also has a very useful
feature called Stream Replay Mode, which essentially allows you to go back in time and execute
historical price action of any given stock on their platform. So if you want to backtest your strategies
and set ups, this feature would be very useful for you. Now let's talk about the cost of all these
tools. Trade Ideas standard is the plan I have is
about $120 a month, Benzinga pro essential is $147 a month, Briefing in play is $89,
but I have all these tools on an annual plan at a discount. As for DAS Trader Pro I have the Elite data
subscription package and that's $170 a month, per platform. So that adds up to be about 500-600 a month
in premium trading tools. Like I said, it takes money to make money,
you have to look at it as, do these tools make me more than 500 or 600 a month. And my answer is absolutely yes. So then they’re very worth it. And they are also tax write-offs. If you’re interested in trying out any of
these tools, I have some free trial links and discount codes below.
