Investing

What is your favorite charting system?

  • Last Updated:
  • Jul 13th, 2022 10:21 am
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada

What is your favorite charting system?

I've been using ThinkorSwim and am amazed at its complexity. Its been several weeks and I'm still discovering stuff every day. But it has many deficiencies - its obvious it was designed a long time ago. So I was wondering what you prefer over ToS. Its the only chart system I'm familiar with besides online ones like Yahoo and TradingView. I've tried TD's Advanced Dashboard, Interactive Brokers, Quotestream and TC2000. One problem is it takes so long to learn a chart system that its difficult to compare new ones until you've spent so much time in each one. I suppose you could guess initially using it.

Some seem to be integrated into a buying platform and others don't seem to be. I don't need the buying integration.
27 replies
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May 11, 2020
18 posts
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MichaelZZZ wrote: I've been using ThinkorSwim and am amazed at its complexity. Its been several weeks and I'm still discovering stuff every day. But it has many deficiencies - its obvious it was designed a long time ago. So I was wondering what you prefer over ToS. Its the only chart system I'm familiar with besides online ones like Yahoo and TradingView. I've tried TD's Advanced Dashboard, Interactive Brokers, Quotestream and TC2000. One problem is it takes so long to learn a chart system that its difficult to compare new ones until you've spent so much time in each one. I suppose you could guess initially using it.

Some seem to be integrated into a buying platform and others don't seem to be. I don't need the buying integration.
How do you get Thinkorswim in Canada? I thought it wasn't availble.

I've been look for a more robust charting, data, news, options etc system too,
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
Just talk to TD. They're happy to oblige. Just for the US though. You need $5000 US on account otherwise its not real time.
TD'sAdvanced Dashboard for both countries costs $30 a month or free if you have more than $500,000 CAD. But most people prefer ToS. The platform of ToS is much older - we all hope they will one day update that relic. But its quite good and their customer service is really stellar. 877-348-6722 from 8-8 I think. You can download ToS here:
https://www.td.com/ca/products-services ... ed-tos.jsp
Its kind of skewed for options/futures but is good for stocks too. They're gradually coming around I guess. Probably because most of the options/futures people went broke! Exuberant youth with a few thousand eager to get rich quick not weighing the total costs of margin interest and leverage.
You can download the Interactive Brokers program as well as the TC2000 and Questrade to compare.
Deal Addict
Nov 11, 2006
1457 posts
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You need to pass the options test(s) to trade in option spreads or naked writing. It's a verbal test with the reps.

I like TOS too, but I hate the fact that CAD securities aren't included.

BMO has Market-Q (aka BMO Market Pro if you have $2M or BMO Market lite if you have $250K).

I'm switching most of my assets to a different brokerage, a brokerage not that common in the English speaking provinces. LOL.
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
Is it possible for Canadians to trade with US brokerages? They seem to offer so much more. Right now I'm 100% in US equities.
Deal Fanatic
Jul 30, 2003
6564 posts
1193 upvotes
Toronto
I have compared NinjaTrader (IB's choice). ToS (paper trade). IQweb and IQedge.

ToS is hands down the best. IQedge is workable but it feel like Canada compared to US (everyone trading will know what that means :p ) - it really does lack lot of stuff. For me, not able to move the chart freely (how you do it in pretty much any web based charting) is really sucky!

Ninjatrader is not bad , but you have to be with IB to use it. AFAIK you can't use it with any other broker.

I tried TradingView (paid version - highest). IT didn't had the timing right (at 1pm it showed me market closed). Most stocks were delayed! (that could've been a glitch). I jsut ask for refund and didn't want to mess with figuring it out.

In my search to do S&P Mini trading - I came across r-trader. If you want to know what archaic is ... that is it! I am not sure why you feel ToS is old (I am sure the base is) but fonts, colors, everything seems it has been updated. I don't want pretty, I want functional above all other options.

@michaelzzz you should create a poll. there is only handful of options. I think I listed most of them.
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Deal Addict
Nov 3, 2009
1862 posts
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Calgary
Anywhere I can get a realtime chart? I'm with CIBC right now but they don't provide charting.
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
ibuddler wrote: Anywhere I can get a realtime chart? I'm with CIBC right now but they don't provide charting.
TD's Think or Swim is excellent. Yeah its delayed 15 minutes if you're not a client but so what?
Deal Fanatic
Nov 9, 2013
5618 posts
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Edmonton, AB
My favourite chart is the one that goes long term up to the right.
Buy quality. Keep calm and go long
Deal Addict
Nov 3, 2009
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IrwinW wrote: @ibuddler

Very basic, but real time charts for TSX listed stocks here:
https://money.tmx.com/en/quote/HSD
MichaelZZZ wrote: TD's Think or Swim is excellent. Yeah its delayed 15 minutes if you're not a client but so what?
I need it for day trades lol. So it has to be a real-time chart with indicators. I don't mind paying a subscription. Any suggestion? I dl questrade but it gave me connection error all the time. It seems their service is still terrible compared to 10 years ago.
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Oct 14, 2015
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ibuddler wrote: I need it for day trades lol. So it has to be a real-time chart with indicators. I don't mind paying a subscription. Any suggestion? I dl questrade but it gave me connection error all the time. It seems their service is still terrible compared to 10 years ago.
https://stockcharts.com/
Real time for U.S. listings; TSX is delayed (maybe real time for members).

I use the free version; the paid version has all the bells and whistles, but a bit pricey for my needs.

I think you can get two weeks free trial to try it on.
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Dec 14, 2010
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https://www.tradingview.com/

Tons of indicators, alerts, ability to program your own indicators, and API interface to do auto-trading if you program your bot to exchanges that support that setup, like Interactive Brokers.


Rod
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[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
treva84 wrote: My favourite chart is the one that goes long term up to the right.
That was pretty good!
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
rodbarc wrote: https://www.tradingview.com/

Tons of indicators, alerts, ability to program your own indicators, and API interface to do auto-trading if you program your bot to exchanges that support that setup, like Interactive Brokers.
TV is the best web based, real time chart I've ever found. Yahoo Finance isn't bad but TV is much better.
[OP]
Sr. Member
Jan 26, 2020
763 posts
191 upvotes
Canada
ibuddler wrote: I need it for day trades lol. So it has to be a real-time chart with indicators. I don't mind paying a subscription. Any suggestion? I dl questrade but it gave me connection error all the time. It seems their service is still terrible compared to 10 years ago.
ToS only requires 25k USD for free access.
Last edited by MichaelZZZ on Jul 12th, 2022 8:51 pm, edited 1 time in total.
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MichaelZZZ wrote: Day trades....ah I see. You're looking to wipe out your holdings. OK.
ToS only requires 25k USD for free access.
Of course you have little funds (probably under 5 figures) so you're looking to the market for income instead of investment. Frequent trading will mean commission fees will seriously affect your profits. You'll be forced to sell at the end of the day to avoid interest, whether you should or not. If there ever was a road to ruin, daytrading is it. Now swing trading, without going into margin, has possibilities. Then you are in control. Daytrading is like giving the steering wheel of your new car to your drunk friend. Whenever daytraders claim profits look to see if the entire market was rising at that point in time. Then look at how they did when the market declined. Of course they never divulge their inevitable losses during those times. Daytraders never last. Its the most flawed, futile investment idea ever conceived. Not that there's anything wrong with that!
Different topic, but there are daytrading strategies with options that are very profitable on any market. Serious daytrading as a full time job can be very profitable. It’s not for everyone, but it’s not true that daytrading is a bad strategy.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:
Investing strategy based on dividend growth

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Deal Addict
Nov 3, 2009
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Calgary
IrwinW wrote: https://stockcharts.com/
Real time for U.S. listings; TSX is delayed (maybe real time for members).

I use the free version; the paid version has all the bells and whistles, but a bit pricey for my needs.

I think you can get two weeks free trial to try it on.
Thanks. Yea. Can't find one for TSX. Guess I'll continue trading SPY then.
Deal Addict
Nov 3, 2009
1862 posts
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Calgary
MichaelZZZ wrote: Day trades....ah I see. You're looking to wipe out your holdings. OK.
ToS only requires 25k USD for free access.
Of course you have little funds (probably under 5 figures) so you're looking to the market for income instead of investment. Frequent trading will mean commission fees will seriously affect your profits. You'll be forced to sell at the end of the day to avoid interest, whether you should or not. If there ever was a road to ruin, daytrading is it. Now swing trading, without going into margin, has possibilities. Then you are in control. Daytrading is like giving the steering wheel of your new car to your drunk friend. Whenever daytraders claim profits look to see if the entire market was rising at that point in time. Then look at how they did when the market declined. Of course they never divulge their inevitable losses during those times. Daytraders never last. Its the most flawed, futile investment idea ever conceived. Not that there's anything wrong with that!
I beg you differ. You can do spread options or trade indices (SPY, QQQ etc.). These are pretty safe if you do it right. I do hold blue chips and div stocks. But at the moment day trading is way better and safer in the bear market. Also, you'll need a minimum of 6 figures to start with. Otherwise, you are just paying commissions. The only reason I want to day trade on TSX is I want to take the advantage of the exchange rate lol. But without real-time charting, it's not feasible.

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