My Go-To Tools for Consistent Trading

#1 TradingView

TradingView is a charting platform that you will be using on a daily basis to markup your charts. You will come here every day to view the market, perform your analysis, and make informed & calculated decisions when taking trades.

Free is good enough in my opinion, in fact, I went a few months without a subscription and it was fine. I only upgraded when I wanted multiple charts per tab (after purchasing a huge 49” curved screen monitor and got sick of the ads!) Either way, the Free plan, Essential plan, or the Plus Plan (what I use) will be fine for most traders.

#2 Notion

Notion is an online note taking platform that allows you to create a good journal when it comes to trading. I have pretty much all my stored trading data on here, from daily markups to end of year reviews to mental journals. I do still use Google Sheets for trade data and still keep a handwritten journal too but most work goes into Notion.

It’s extremely useful for keeping track of your progress throughout the year. From each day that you traded, leading to your weekly summary, onto your monthly summary, to your end of quarter reviews, finishing at your end of year review.

You can customize and build your Notion from the ground-up, consistently perfecting it till it becomes a solid system of yours (like I did), or you can skip all that and save tons of time by using Photon’s Operating Systems – a complete Notion template that clearly shows all aspects of your trading, it’s really impressive.

I use Notion literally all the time, it’s great for monitoring everything going on in your trading world.

#3 Magic Keys

Magic Keys is a must have tool when you are trading. I cannot stress how important a tool like this will help you – not just in the beginning stages, but for the rest of your journey as a trader.

Magic Keys will help you:

• Manage risk (PRIORITY!!)
• Automatic trade management
• Easy trade exiting
• Trading limits
• Statistics

And much more…

The only drawback with this is the setup process, which you have to go through every time you change your broker. However, once it’s set up it’s pretty much smooth sailing. If you do get stuck on anything, Magic Keys’ support team will help you through any trouble.

The main point in using Magic Keys for me is the ability to calculate your lot size based on your stop loss size and risk per trade in order to keep my risk consistently at 0.5% per trade, with the ability to do it fast without thinking.

Now, some of you are probably quite good at maths and if you are fast at figuring out your lot size then you probably don’t need a tool like this but I would still encourage you nonetheless – it keeps trading simple, the simpler it is, the better.

Psssttt there’s also a discount code!

For 25% off, use code: MKMETEORTRADINGFX

#4 FXReplay

FXReplay is software that is used to backtest.

“What’s backtesting?”

Backtesting is where you can gather data and experience quicker than waiting for the live market. It’s a great place to find your edge, test your edge, and improve your edge.

FXReplay allows you to go back in time to hide all previous price action so you can play price out to test your skills and gather data. You can do the same in TradingView but FXReplay is designed to help you gather data, it has a comprehensive dashboard that shows you important data when testing out your edge.

I wont lie, backtesting is extremely tedious and time consuming but it must become a part of your weekly ritual as a day trader. The reason for this is because it gives you great exposure to the markets and constantly keeps your head in the game – especially when you go through inevitable losing streaks or weeks without a trade.

You can start this on a free account, but I’d recommend getting the Intermediate subscription as this will give you access to useful templates and data, that’s the subscription I use.

Wow two wild discount codes appeared!

For 15% off monthly plans, use code: MTRFX15
For 7% off yearly plans, use code: MTRFX7

#5 FTMO

FTMO is a prop firm, and to keep it simple a prop firm is a place you can go to in order to seek capital, you can buy 5 figure accounts for a few hundred dollars. Sounds good right? Yup…but there’s a catch.

You have to prove you are worthy of that capital.

What I mean by this is that you have to pass an ‘FTMO Challenge’ before you have access to the capital and start getting payouts.

The challenge is 2 phases:

• Phase 1 – 10% profit target
• Phase 2 – 5% profit target
• Phase 3 – Verified FTMO trader

Of course there are limits such as how much you can lose before you fail (which is 10%) so you can’t just go guns blazing and you have to manage your risk – good job you know of a tool to help you do that! – Hint: see Magic Keys 😉

Alternatively, you can choose to use your own capital, but you’d have to do research to find a good broker with decent fees, spreads, commissions etc. Photon has some good recommendations on their course if you’d like some assistance (since I just use FTMO all the time)

If you are a complete beginner I’d recommend that you do not purchase a challenge until you have a solid understanding of the framework that Photon teaches along with tons of data to prove you have an edge in the market, the free trials FTMO offers will be beneficial, so make sure to use those to your advantage.