Scottrade Elite is a stock analysis service that possesses many helpful tools. These tools allow you to scan the market, analyze securities and place orders within a single trading platform. Scottrade has advanced charting tools, technical indicators and stock screeners.
The platform allows you to have as many order entry windows open as you would like. You can make trades in one click easily from any site – Smart Order tickets assist you with this process. Execution Reports are also available detailing all transactions you make and exactly how the order was filled.
The Scottrade stock charting service assists you in identifying opportunities. Trade Ideas is a real time stock analysis tool that filters the market based on a given set of criteria identified by you. This pre-trade analysis tool monitors every trade on NASDAQ, NYSE, AMEX, and the Chicago Mercantile Exchange (CME). Once it locates stocks that meet the criteria, you can begin an analysis process to determine if a hypothetical investment was a wise choice. The tool estimates market risk, identifies trends and determines bearish, bullish or neutral based trading strategies. This tool allows you to develop trading scenarios and determine your potential for earning a profit.
Advanced charts are available in the charts menu. Over twenty-three technical studies are available through Scottrade’s advanced charting. Trendlines can also be drawn directly onto the charts. You can view data through three-minute charting, as opposed to five-minute charting, over a period of five days.
While Scottrade Elite’s stock analysis tool certainly possesses the most popular charting tools, and the charting tools are user friendly, it doesn't contain many of the older charting tools, such as Point and Figure. Additionally, new and powerful chart analysis tools such as Renko and Ichimoku are not available. None of the aforementioned charts is essential to trading; however, an investor accustomed to having these charting tools in his or her arsenal may find the absence frustrating.
Blogs, newsletters, online forums and online support are all avenues that you can pursue to gain information. You can find answers to stock trading questions, tips on using the stock analysis tool and other investment related inquiries through these group communication tools.
Scottrade Elite is available to individuals who have an account of $25,000 or more. Other more economical solutions exist when opening an account with a $500 minimum balance; however, some functionality is not available with those options.
Scottrade's helpful tools can analyze information for you to save you time and money. Although some of the more advanced charts are missing, Scottrade still has some of the best educational material to help you make informed financial decisions.
Charts and other analytical tools are in real-time so you can make the most informed decisions.
There are no Renko or Ichimoku charts available.
Scottrade has some of the best tools for helping you navigate the stock market.