Day trading beginners occasionally have a problem in which they focus on trading live from the beginning instead of paper trading with a cost-efficient trading tool. This often leads to losses during the first weeks of trading. In this TC2000 Review I will show you how to use TC2000 as a cost-efficient Trading Tool.
I will explain the TC2000 chart analysis software in detail, providing you with helpful tips and in-depth insights about this tool.
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What is TC2000?
TC2000 Version 18 for Windows and the browser-based Version 12.5 for any device
One of the big TC2000 benefits is their operating system, an independent version that can be run on any devicea with a Microsoft Internet Explorer installed. This is possible with Microsoft Silverlight plugin for the Internet Explorer.
If you prefer to use a fixed installation, you can do this on any Microsoft Windows Computer. Please be aware that you cannot use Firefox or Google Chrome for this charting software. Furthermore, Mac users will need to use Parallels Desktop for Mac.
The TC2000 Version 18 Windows Client can be downloaded here:
The Browser Based version 12.5 can be started here:
TC2000 gives both versions separate numbers. However, there is no need to be worried. Both versions run fast and accurate with similar functionalities.
Having said that, I would like to tell you about some exciting benefits.
TC2000's user interface and features
The Technical Analysis of Stock & Commodities magazine asked their readers to vote for their "favorite standalone analytical software for $500 and less" during the 2017 Readers' Choice Awards. TC2000 won again in this category. One of the main benefits is the nice and easy to understand UI.
The software comes with a familiar user interface. You can arrange every available segment, such as:
- Market Scanners
- Notes and News
- Market Data (incl. Options Chains)
- Trade Executions (live & simulated trading)
Just choose the segment of your choice:
Now hit the cross symbol in the top right corner. For example, when you open a new chart:
Now choose where the new element should be placed. This can be above, below or beside an existing element. It might take 1 or 2 minutes before you understand the whole process but then it is finished within seconds.
Organize elements using tabs
One of the most practical features is the possibility to work with tabs, just like in a regular internet browser. These tabs can be fed with completely different markets, such as one tab showing stocks, another for options, or for different time frames, or watchlist only scans, etc.
This gives a precise overview of different markets without producing an overload of charts on one screen.
When it comes to overviewing markets on a single screen, many software programs, as well as many traders, struggle to keep the interface clean. Different tabs for sorting all necessary information is a great idea and has become market standard for a good reason.
For beginner traders, a suitable starting point is to use one of the default templates, which can then be customized step by step.
TC2000 charting types
TC2000 guides users through the different steps of setting up the charts as needed. It only needs a bit of time until all the features are clearly understood. TC2000 has done their homework here, building up the software absolutely logically.
TC2000 includes the basic charting types such as OLHC Bars, CandleSticks and Line Charts as well as HLC Bars, Bar Charts, Area charts and even Heiken-Ashi charting are available. Make use of the Chart Properties / Plot Style options to change it accordingly.
You can edit plots, set different colors, adjust the scaling, choose the time frame and much more by simply following the sub menus within the settings window.
What drawing tools are available at TC2000 gold?
Besides the standard drawing tools (Fibonacci, VWAP, Gann), other drawing tools are available within TC2000 gold. No useless features, no innovative and flashy distractions. Every drawing tool you would need for accomplishing a Technical Analysis is available.
The TC2000 watchlists
Sorting the financial markets of your choice is easy with TC2000. Use one of the most commonly used watchlists from the Quick Lists or one of the pre-configured watchlists. Of course, you can add favorable instruments like stocks to a watch list or you can create a watchlist from scratch.
Once you have set up your watchlist, you can add a plethora of different columns to sort and reorganize the TC2000 watchlist. Columns can be your own formulas or existing variables like trading indicators, formulas, P&L tracking, options and much more.
As the name suggests, EasyScan® is a stock screener / stock scanner where you can scan the market with one of the pre-configured scans like "Gap up with momentum", "Bounce after pullback" or RSI crossing up through 30. Alternatively, custom scans can be created. To do so, follow the instructions:
From here you can write your own formulas, use fundamentals, indicators or condition sets, alone or in combination.
Please be aware that using the EasyScan® requires more knowledgeable understanding of the financial markets. Writing a formula is not that easy. That's why for day trading beginners the pre-configured EasyScan® windows are a great starting point.
Notes, News, Reports, Alerts, and the library
Besides the charts, the watchlist, and EasyScan® stock screening, there are other great features available. Just give it a try yourself. They are self-explanatory, from TC2000 notes, news, reports and alerts, up to the library and the trade management windows.
Plans | Costs | Pricing
Currently there are three different versions available. The basic, called 'Silver', is priced at $ 9.99 a month and the premium, 'Platinum' version is $ 89.98 a month. Finally, the 'Gold' version, priced at $ 29.99 a month, proves to be the most valued for a majority of traders, and therefore the preferred purchase.
Since there is a considerable difference in pricing between the Platinum, Silver, and Gold versions, users should have a closer look at all the features before subscribing. For all those who don't consider trading at least a part-time business, the Gold version should do nicely.
I have tested the Gold version in detail with all its features. Traders should be aware that real time market data subscription costs have to be paid separately. Here is the current pricing:
Free Trial | Promo Code
As of today, there is no promo code or discount available. However, TC2000 has its own YouTube channel where they show the tool in detail.
Plus: You have access to a free trial period for 30 days as well as a customer fast money back policy. It is worth watching the videos (there are 36 right now), but it's more effective to buy the TC2000 silver version for only $9.99 per month and practice using it. You can't go wrong with the price.
- Founded: 1998
- Company address check: Worden Brothers, Inc. | Worden.com | PO Box 1139 Wilmington, NC 28402 | Support@TC2000.com
- Coupons and promo codes: No, but free trial, and free simulated accounts for subscribers
- Money back guarantee: Yes, 30 days
- Price range: $9.99-$89.98 per month
Who Is TC2000 Best For?
TC2000 as a great alternative compared to a live trading account for trading beginners. Yes, I know. You want to trade. You want to make money. But like skydiving, TC2000 is not for everyone and trading is not for everyone. So, your main intent should not be to risk the hard-earned money you have in your account.
Paper trading is a great option for day trading beginners and investors at the beginning of their career. If you are not making any money on paper, you will probably never do so with a real money account.
Practice, practice, practice
All the trading features TC2000 provides can be used with play money. Practice accounts can be set up for free and as often you want.
Okay, that's enough about the features. If you want to find out more details about the features, please have a look at TC2000's website. They list all the details in a clean, arranged features table.
Alternatives to TC2000
On the one hand side, eSignal and NinjaTrader also provide trading tools focused on charting with additional modules for stock screening and API's for order executions.
On the other hand side, day traders will enjoy the artificial intelligence based trading strategy evaluation from Trade Ideas A.I. Pro with automated trading and strategy execution. Click Here to Check the Current Trade Ideas A.I. Pro Offers and Free Services.
TC2000 Review Summary
Worden Brothers Inc. provide their clients a self-explanatory charting software tool. TC2000 is suitable for day traders and investors with a tight budget having the main focus on a rock solid charting tool and the intention to trade stocks and options.
The pricing is fair, especially with the "Silver" and "Gold" plans being cost efficient. In a perfect world, a free trial would be available. But in reality, a free trial is not necessary. Why? Because TC2000 has a great 30-Day-Money-Back Guarantee (details can be found here: http://www.tc2000.com/terms-of-use (chapter 1).
Furthermore, yearly subscribers get 2 months for free (10 months paid + 2 months free). Personally, I would never subscribe to a new service with a yearly plan. But for investors who are confident they want this tool for the next year, this is a great bargain for them.
The major benefit for beginners is the integrated paper trading account. Investors can practice day in and day out without risk. Please note that you need a real time market data subscription to make the simulated trading as realistic as possible. Using the TC2000 Silver package ($9.99/mo.), along with the minimum data feed subscription ($14.99/mo.), is an affordable package worth investing in for beginners.
Remember, it is better to invest $24.98/mo. realizing after one month, that trading is not right for you than to trade live from the beginning and lose all your money. Another great TC2000 benefit is the integrated trading module. With the trading module it is easy to trade right from the charts or with the integrated order ticket system:
Investors looking for a high performance charting tool with basic drawing tools and a fair price tag should give TC2000 a try.
A nice thing about TC 2000 is that they offer a 30-Day-Money-Back-Guarantee (applicable for new users, inactive users for more than 1 year, and limited to 1 household per year).
What is good and what could be better?
- Cost efficient pricing structure
- Fast software components
- Browser and application based tool
- Free paper trading module
- Integrated order system (e.g. deal through chart)
- 30-day money back guarantee
- Great documentation on TC2000 help site
- Additional monthly data feed for real time markets (industry standard)
- Browser based version doesn't work with Firefox and Google Chrome
- Parallels Desktop for Mac needed to run on Apple devices
- Coding knowledge needed to create custom market scans
- Automated trading not possible at the moment
Bonus info about TC2000 brokerage
TC2000 brokerage provides the house intern brokerage account. It is possible to use TC2000 directly with TC2000 brokerage to trade stocks for $4.95 (options for 0.65 Cents + $2.95 base fee). TC2000 (TeleChart) can be used without TC2000 brokerage.
However, while paper trading is possible without an active TC2000 brokerage account, LIVE trading with the TC2000 internal order instruments requires an active TC2000 brokerage account. Only this combination enables you to trade with the integrated live trading module.
This might sound disappointing at first, but this is an industry standard and not a real downside. Only a few tools on the market allow trading in combination with external brokerage accounts and then most times in combination with higher fees than TC2000 has. But again, you do not need a live trading account from the beginning. Practice first then move further step by step.
This TC2000 is completely, independently written. I did not receive any money from Worden Brothers, Inc. and TC2000 Brokerage, Inc. for writing this review. The TC2000 review reflects my personal opinion about this charting software tool.