Monday, December 25, 2006

A free online stock trading system

I used to go to Yahoo Finance for watching stocks. Yahoo Finance is 'just enough' and I would like to have a more flexible tools. Therefore, I chose the opensource EclipseTrader. It is a Java application so I can run it on my Ubuntu Desktop as well as my Windows laptop. It provides the following features:
  • Realtime Quotes (For US stocks only. Too bad for Hong Kong people)
  • Intraday Charts
  • History Charts
  • Technical Analisys Indicators
  • Price Patterns Detection
  • Financial News
  • Level II (Book) Market Data
  • Trading Accounts Management
  • Integrated Trading
Actually I am just interested in the charting parts because others such as trading accounts management can be done by Yahoo Finance or even e-banking, but a flexible charting system is necessary for people using technical analysis. The following screenshots are the charts of US Nasdaq index and a Hong Kong Stock HSBC. As you see, you can add some indicators such as RSI, Stoch, Bollinger Bands and more. You may argue that Yahoo Finance also provides such charts. However, it is possible to customize settings for the indicators. For example, you can just plot the moving average line with 5, 10, 20, 50, 100, 200 days while EclipseTrader let you have some special value such as 2 days, 9 days, 19 days, etc.

To conclude, if you are a technical analysis based stocks buyer, you can enjoy plot different charts with this free tool. If you are a fundamental analysis based buyers, then Yahoo Finance can provide enough information already (Of course, you should see the financial reports for the companies as well).

Ref: Official site - Eclipse Trader

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