Tools of the trade
There are a few tools you will need to trade along with me. I will share those with you in this post.
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Before you start trading, there are a few tools you will need to trade along with me. Here they are. I’ll keep this list of tools updated. So check back here occasionally for updates.
The Tools
A Charles Schwab Trading Account
You will need to open a trading account. I use a Charles Schwab brokerage account. Be sure to activate Options Trading on your account. I originally had a TD Ameritrade account, then Schwab bought TD Ameritrade. You have the option to open either a personal or a business account. Consult an accountant or tax specialist for advise on which is best for you.
The ThinkOrSwim App
I trade using the ThinkOrSwim app. The ThinkOrSwim app is only available with a Charles Schwab Trading Account. All the trading examples I will share will be shown using the ThinkOrSwim app. I recommend using the desktop version. It may be possible to follow along using another trading app, but the specific tools and features I will use may not be available in other trading apps.
Yahoo Finance Website
I go to the Yahoo Finance Website for trading information. I use Yahoo’s stock pages to check after hours stock prices, news, statistics, historical data, and their performance overview.
Hazeltree Shortside Crowdedness Report
The Hazeltree Shortside Crowdedness Report is a monthly rating of the top stocks being shorted by funds in Hazeltree’s community, which includes approximately 700 asset manager funds. Stocks are graded on a scale of 1-99, with 99 meaning 99% of funds are shorting that stock. I use this report to check if the market is bullish (a stock is not listed in the report or has a low rating), or bearish (a stock appears in the report and has a high rating) on a stock.
ABG Analytics Apple Stock Overview
The ABG Analytics Apple Stock Overview is presents technical indicators and algorithmic trading rules that work, according to research and our own analysis and empirical testing. ABG Analytics mines academic finance literature and books on technical analysis for trading ideas, then puts these ideas to the test. They also issue weekly Stock reports. Here’s the ABG Weekly Volatility Report for reference.
