Day Trading Tools Free
Day trading tools are prerequisites for efficient and profitable trading. They assist traders, both new and experienced, in trading flawlessly and without any hiccups. There are numerous day trading tools available, most of which are free for use.
Some of the free day trading tools include online courses, live trading room, Youtube channel and videos, and trading challenges. Tradenet offers all these day trading tools free for its customers and students.
Online Trading Courses
Tradenet begins the process of assistance through its online trading courses. Budding traders can access intensive courses like the Self-Study Course, the Star Trader Course, and the Top Trader Course. These educational courses serve as excellent tools for beginners to brace themselves with the basic knowledge of trading.
Live Trading Room
The live trading room of Tradenet is another excellent day trading tool. It equips traders with the practical aspects of trading. Traders get to watch top traders and mirror their trades. The live trading room also permits new traders to seek real-time advice from the master traders and get continuous trading support and guidance. There are live audio and video feeds, along with real-time charts of stocks being traded for budding traders to understand the nuances and chat with the masters regarding trading ideas and strategies.
Tradenet YouTube channel also serves as a useful and free day trading tool. Traders can follow Meir Barak trading live and watch his screen recordings. The YouTube channel is also loaded with hundreds of videos for gaining an in-depth understanding of trading. The channel also features a free day trading course and videos covering the technical aspects of trading.
Tradenet’s Trading Challenge is another interesting day trading tool. Suitable traders get to trade a $10,000 demo account, and if they achieve a profit target of $500 in a trading week, fulfilling all the terms and conditions, they win access to trade a $14,000 funded trading account with a 70% profit split. The trading challenge serves to be a fantastic day trading tool free for traders to learn and practice trading, and win an opportunity to trade a fully-funded account.
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Learn About Day Trading Free
Before traders start day trading, it is critical for them to learn about day trading. What’s more exciting is that many platforms allow traders to learn about day trading free. Learning about day trading means understanding the world of day trading and where it stands relative to other forms of trading like forex trading, penny stocks trading and investing.
It is of prime importance for beginners to understand that day trading is not the same as investing. Investing is done for the long-term and is not primarily affected by day-to-day price movements. On the other hand, day trading is all about daily price movements and capitalizing on such moves. Similarly, trading penny stocks is considered low-quality while forex trading is considered highly risky. Day trading deals with trading reasonably good-quality stocks, with an optimum risk-reward ratio, within a single trading day.
Learning about day trading offers traders access to online educational courses backed with practical experience in the trading rooms. New traders are also supported by mentors, and they get trading support as they go.
Practice Day Trading Free
In addition to the platforms that allow new traders to learn day trading free, other relevant platforms permit them to practice day trading free. Such platforms include demo trading accounts where budding traders can practice day trading free without risking any real capital.
At the same time, Tradenet provides budding and capable traders with an opportunity to take its Trading Challenge. Traders get to practice day trading free, along with standing a chance to win a funded trading account.
Suitable traders apply for the trading challenge and the ones who qualify receive a demo trading account with a balance of $10,000. Traders need to trade the demo account for at least three active trading days out of a week and generate a net profit of $500. The daily profits must be more than $100 on at least two trading days, and the maximum total loss limit is $300.
Traders who win the Trading Challenge, adhering to the terms and conditions, win access to a $14,000 funded trading account and get to keep 70% of the profits generated. The winning traders also get access to live trading room, interactive self-study course, and Meir Barak’s best-selling book, The Market Whisperer.
Thus, new traders get to learn day trading free and practice day trading free. Those who succeed at proving themselves also win a chance to trade a funded account for free.