Day Trading Software and Data Feeds Many Canadians invest money in the stock market aiming to make profit. When you are just starting out, your chances are fifty-fifty. In the hope of maximizing gains, a lot of Canadians have invested in day trading software. Stock exchange trade can be very tempting but despite that, few of us have the time to sit in front of their system, waiting to buy or sell currencies or stocks. Day trading software is usually used to trade stocks and securities during the day. It is extremely popular in Canada. Naturally, it is impossible for the exchange market to make the price of stocks and shares known to everyone who wants to trade; so, this information is given to a software company that relays it to all interested parties. The main advantage of stock trading software is that it removes the requirement of having to monitor stock prices continuously. All you have to do is input data with instructions into the system. It automatically sells the stock when it reaches the price you have set. There are three types of software available: data, charting and trade execution. If you are using the data type, you should know the prices of futures, stocks, or currencies you want to trade. When futures and stocks are concerned, prices are indicated on the exchange market. There is no central exchange on Forex, which thus makes an exception. For the sake of clarification, futures are contracts between two parties to trade a certain asset at a future time and at a price agreed at present. In this case, you buy long and sell short (long-term and short-term). Data software relays price information based on a price set by the exchange. Very rarely it is free. This occurs only in cases where the price information is delayed, and such systems are of no use to day traders. Keep in mind that the exchange sets the base price but prices vary to a great extend for data feeds. The majority of day traders use charting software. Many of these systems provide data feeds involving prices as well. Charting software tends to be uniform, providing the same technical indicators. Advanced types of such software include a complex setup to create more indicators and to test various trading strategies. To that purpose, the package comes with a complete programming language. Once you can see your data and analyze it, you need to make a move on the exchange. This is known as trade execution. Such software is usually linked directly to the traders' home systems. In addition, third party applications are available through independent vendors which specialize in producing or selling software intended for niche markets or mass marketing. One of the advantages of third party is that they let individuals trade using the services of different brokers. At the same time, the programs retain the same interface. The software offered by independent vendors may be features with a variety of advanced options like automatic trade execution.