Schwab lures active traders with new platform
24 February 2011 | 3147 views | 0
Source: Charles Schwab
Charles Schwab today announced a new flagship platform for active traders, designed to simplify complex trading activities and provide a more intuitive experience.
StreetSmart Edge™ was built to think like a trader, based on feedback from clients and Schwab's extensive research on trader preferences and behavior, including observing how traders interact with their current trading platforms.
Available to Schwab Active Trading clients beginning March 1, StreetSmart Edge will allow traders to spend their time more productively, with integrated tools to help traders discover and take advantage of opportunities. In addition to numerous new tools, StreetSmart Edge also offers enhanced account management so traders can monitor positions, analyze profit potential and help manage market exposure in real-time.
"Sophisticated trading platforms are designed to synthesize market data and provide tools to help a trader apply what they learn, but they can also be difficult to learn and even more difficult to master," says Kelli Keough, vice president of active trading at Charles Schwab. "Recognizing this dilemma, we examined the entire trading experience and built a platform that includes the functionality traders expect but also mirrors the way they think and act."
The platform is designed to be flexible and to grow with a trader. As traders develop more sophisticated skills or change investment strategies, they can add or modify the tool features to fit their evolving needs. Some of the key tools, features and benefits of StreetSmart Edge include:
* Symbol Hub integrates tools including charts, news, order entry, live data, options chains, even technical and fundamental research into one place.
* Chart pattern recognition uses time-tested indicator patterns along with advanced screening and charting tools to analyze historical and current market data. Built into the platform, chart pattern recognition can give traders pattern-based strategy ideas and decision support.
* Robust charting tools are very flexible. Changing a chart's style, data, or studies can be done quickly and easily by using a special sidebar visible tor v tor visible to the right of the chart window. A mini-chart carousel displays small charts for recently viewed ticker symbols.
* Fundamental research is integrated right into the workflow. After scanning the live data screen for a specific security or index, traders can use the "research" button to flip the screen and reveal fundamentals on the same symbol.
StreetSmart Edge also allows traders to easily monitor accounts and track performance with consolidated account information.
* The account detail window offers a tabular view of critical account information including balances, positions, transactions, gain/loss, alerts, and order history.
* The balances bar displays dynamic balance information at the top of the StreetSmart Edge window, showing intraday account values, cash balances, buying power, profit-and-loss data, and more at a glance.
Keough also noted that a number of Schwab's active trader clients have been beta testing StreetSmart Edge since the fall, and their feedback has been instrumental to development. Enthusiasm is high among these traders, with one commenting: "It does save the trader a lot of time searching for stocks and potential positions. This is a good tool: it educates, expands and also does a lot of leg work! I would highly recommend its use to other traders."
Chart pattern recognition tools are provided by Recognia, Inc., which is not affiliated with Charles Schwab. Schwab does not endorse any of the content or features made available in Recognia's tools. Schwab does not recommend the use of technical analysis as a sole means of investment research.
Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction.