Do professional traders use TradingView? (2024)

Do professional traders use TradingView?

The short answer is yes. Its chart types, drawing tools, and watchlist functionalities have made it a favorite among day traders. All to help traders.

On TradingView you can trade CFDs, forex, stocks and Crypto FX. Click on the relevant icon below to see full pricing information and trading conditions.

Free, until you're ready. Look first at how all the markets are performing. Then leap into them on the platform used by 50 million traders.

If you're looking for free charting software, TradingView will work for a short period but you will likely bump into a paywall before too long. While long-term investors and swing traders may use TradingView for some basic charting, that's not who the platform was built for.

Saxo Markets: Best professional trading platform for DMA trading. Saxo Markets won “best professional trading account” in our most recent 2023 awards. Saxo Markets provides a professional-grade trading platform backed up by experienced dealers with responsible leverage and a well-capitalised balance sheet.

Professional traders often use a combination of indicators, including moving averages, RSI, MACD, volume indicators, and Fibonacci retracements. They also consider market sentiment, news, and fundamental analysis.

TrendSpider offers an advanced, ad-free experience that stands out from TradingView and other competing products.

TradingView may also be the better choice for traders who want to use a simple and modern interface that is easy to use and access from any browser. Thinkorswim may be the better choice for traders who are already TD Ameritrade or Schwab customers or those who want to trade options.

Popular US stock brokers like Etrade, Interactive Brokers and TD Ameritrade are supported. For forex, brokers such as Oanda, FXCM and IG Markets allow you to trade currency pairs directly on Tradingview. There is also integration for leading crypto exchanges like Coinbase, Binance and FTX.

The sum of money gained or lost by the average trade generated by a strategy. Calculated by dividing the Net Profit by the overall number of closed trades.

Can TradingView be used for day trading?

TradingView integrates with various brokerage websites, so you can trade directly through the platform. For day traders, it offers a comprehensive package that aligns with various strategies and risk profiles.

In general, “Professional” usage relates to general business activity where market data is used in trading or adding other activity on or behalf of businesses or entities. “Non-Professional” usage refers to market data for personal use only.

Free - Limited features but provides core charting and analysis tools. Pro - $14.95/month or $155.40/year. Upgrade for more indicators, alerts and customization. Pro+ - $29.95/month or $299.40/year.

Kindly note that it is not possible to transfer a subscription and user data from one account to another. Also, note that multiple accounts are not allowed on TradingView.

You bet! TradingView launched a pilot program that rewards the author of each publication that gets chosen by our seasoned team of editors, for our Editors' Picks sections for ideas and scripts.

With a $10,000 account, a good day might bring in a five percent gain, which is $500. However, day traders also need to consider fixed costs such as commissions charged by brokers. These commissions can eat into profits, and day traders need to earn enough to overcome these fees [2].

Swing Trading: Swing trading is one of the more popular trading strategies for professionals because it doesn't require the constant monitoring of positions that day trading and scalping requires. Swing trading allows you to hold a position for a few days to a few weeks, perhaps even a few months as it develops.

Indicators don't provide signals.

They don't tell you when to buy or when to sell. They don't even tell you when something is overbought or oversold.

Visit FINRA BrokerCheck or call FINRA at (800) 289-9999. Or, visit the SEC's Investment Adviser Public Disclosure (IAPD) website. Also, contact your state securities regulator. Check SEC Action Lookup tool for formal actions that the SEC has brought against individuals.

What is the single best trading indicator?

1. Moving Average. Also known as the simple moving average (SMA), moving averages are a popular indicator that calculates the average price over a specific time period. It helps traders identify trends and potential support and resistance levels.

MetaTrader also has a social component, but it is not as robust as TradingView's. In terms of order execution, both platforms offer fast and reliable trade execution. However, some traders may prefer MetaTrader's one-click trading feature, which allows them to quickly enter and exit trades with just a single click.

Final Verdict: Which Platform is Better for You? For most active traders and technical analysts, TradingView is the better overall platform with its robust charting capabilities, trading integrations, market coverage, data quality, alerts and mobile apps.

We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to TradingView, including eToro, MetaTrader 5, Binance Broker, and E*Trade Web Platform.