Most trading tools are really useless and overpriced. However, there are a few good ones among, and below are some of my favorites. Some of these tool are commercial and some are free. Anything which I believe can help you to become a profitable short term traders has been posted below. However, I only recommend products and services which I have tested and benefited from myself.

MYFX

MyFx is one of my all-time favorite trading tools. This is a commercial software which gives you a bunch of cool features such as one-click trading via MT4, one-click SL to BE, etc. MYFX is a brilliant addition to any short-term trader who uses MetaTrader 4 to execute trades. I have been using MYFX for a couple of month now and I would have a hard time trading without it! Read more here.

Pivot Farm

This is a commercial service which is based on a monthly requiring payment. Once you sign up with Pivot Farm you will get access to a daily updated pdf file with power zones which you then have to automatically plot on to your chart. This is some of the best stuff I have ever been around. Read more here

Trade The News

Trade The News is another commercial but truly amazing service. One of the key differences between a trader and an investor is the attention to news flow – As a short term trader, constant attention to news flow affecting the market is crucial. Trade The News will give you this information in the split second they are out, so you have time to adjust your trading. Read more here

4X Circle Magic Stick

Magic Stick is a great addition to MetaTrader4, for anyone who likes to trade breakouts, (who doesn’t?). With Magic Stick you will never miss another perfect opportunity. This is the perfect tool for automating the process of trading breaks of trendlines and support and resistance levels, while still letting you stay fully in control. Read more here.

Forex Tester

Forex Tester is the ultimate software for trader who are lookin to test a new trading system or strategy. And you can get a free trial. Read more here.