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Software Takes Online Trading to Next Level
Online brokers are offering better features today, even as fierce competition leads them to charge less than ever before. More sophisticated software-based trading tools are emerging as an alternative to traditional Web site transactions. Recently there has been a dramatic increase in the tools made available to average traders. Without the latest technology, brokers with browser-based platforms may not be the preferred choice anymore. Advanced trading methods warrant the use of powerful trading software. For example, investors may want to implement "trailing stop" orders, which allow them to set limits on the maximum possible loss without setting a limit on the maximum possible gain.
This removes the need for an investor to monitor the investment on an ongoing basis. Software has clear advantages over browser-based trading. RushTrade's Direct Plus software-based trading platform, for example, provides real-time market data and many features that allow strategic control of a portfolio. Perhaps one of the most intriguing features of the software is the ability to create and automate "trade strategies." Using RushTrade's software, you could create a long strategy specifying the price you want to receive and the market conditions that must be met before your order is placed.
You can also specify market conditions that will cause the strategy to be automatically cancelled. Trade Strategies is one of the most efficient ways to strategically control your trades and manage your risk. Another benefit of software like Direct Plus is that most of the information can be displayed on one page and is fully customizable to suit the monitor size. Unlike a browser-based platform, it is not necessary to repeatedly refresh your screen to update the data or switch back and forth between pages. Software-based trading platforms allow you to see all of the information at once. Direct Plus actually supports more than one monitor for an expanded layout. Software-based trading platforms, such as DirectPlus, are easy to use, load quickly and can display multiple windows of information at one time. This kind of software allows an investor to monitor quotes, charts, order execution, news, alerts and more, all at the same time. Trading software is the next step for online investors. The Internet brought many casual investors to the stock market.
Now, software applications like RushTrade's Direct Plus usher in a new era for online investing.