Pivot Trader Pro buys and sells trades based on criteria that users either select or design with the Strategy Wizard. The program only buys symbols within the price range designated by the user, and it adds and removes stocks from the watch list as prices change. Both fundamental and technical aspects of trading can be adjusted, making it possible for users to modify the program’s workings to match their current levels of manual monitoring and technical understanding.
Users don’t need prior trading experience to take advantage of the program’s features. However, the software does include a simulator mode so users can increase their trading confidence before buying and selling on the market. This simulator mode can be used in combination with data feeds from brokers, making it a valuable tool for gaining experience. It’s important to note that you don’t actually have to have an account with a brokerage when you’re ready to start trading with Pivot Trader Pro. You can trade without a brokerage account, but the company recommends that you get one eventually to take advantage of more complex data as you refine your approach.
Pivot Trader Pro does not currently support trading of futures or commodities. However, users can trade currencies, also known as forex, and equities. Unfortunately, the software doesn’t support index trading. However, this can actually be a good thing because rather than waiting a long time for profits from index trades, users can profit daily thanks to the program’s ability to constantly monitor prices of individual stocks. Margin accounts can also be used with Pivot Trader Pro by traders who want to short the market.