Free Trading Tools (Part 2): The Exact Setup I Use

Last week, we covered what traders actually need to succeed and where to find those trading tools, for free. The message was simple. You don’t need expensive software to trade well. You need the right tools, used in the right way.

This week, I’m taking you inside my own setup. This is not a list of “best tools” or a comparison exercise. This is what I actually use, day to day. It’s simple, practical, and built to support a repeatable process. Because at the end of the day, trading is not about having more tools. It’s about having a system you can rely on.

How do I read and interpret market data for trading?

Markets move on information. The challenge is not just getting data, it’s understanding what matters and filtering out the noise.
For global macro and economic data, I use Trading Economics. It gives real-time updates on interest rates, inflation, and key economic releases. But more importantly, it helps build context. Even if you’re not reacting instantly to every data print, you still need to understand the bigger picture driving markets.

Most traders don’t have the luxury of sitting in front of screens all day reacting to every move. That’s fine. What matters is staying informed enough to know the environment you’re trading in.

On the local side, I rely heavily on Moneyweb, and specifically the MoneywebNow podcast. It’s part of my daily routine. It gives a quick, practical overview of what’s happening in the market, what’s moving, and why it matters. It’s an efficient way to stay connected without getting overwhelmed.

I also pay close attention to SENS announcements. These are freely available on company websites or through the JSE platform. This is direct company communication. No spin, no interpretation. If you’re trading local stocks, this is one of the most valuable sources of information you can use.

The goal here is simple. Stay informed, build context, and understand the environment. You don’t need to react to everything. You just need to know what matters for your strategy.

What do I use for charting?

Charting is where everything comes together. This is where ideas turn into actual trades.

My primary platform is TradingView. It’s clean, intuitive, and covers a wide range of markets. It allows me to move quickly, analyse multiple instruments, and keep my charts simple and focused.

I also use MetaTrader. It’s not as user-friendly, and there’s definitely a learning curve. But it offers more flexibility. Fewer restrictions on indicators, more control over execution. I personally find their strategy tester to be more robust than TradingViews’.

The benefit of both TradingView and MetaTrader is that they both offer comprehensive integration with a lot of brokers. Check with your broker if they offer a connection into one of these platforms. That way, if you ever need to switch brokers, you don’t need to learn an entirely new in-house terminal.

The mistake traders make is jumping between tools without a clear reason. You don’t need five platforms open. You just need one that you understand well and use consistently.

How do I track and improve my trading?

This is where the real work happens.

Most traders focus on entries and exits. Very few focus on reviewing what they’ve done. That’s the gap.
I use a simple journal built in Microsoft Excel. Nothing fancy. Just structured.

Every trade gets logged. Entry, stop loss, take profit, reasoning, and outcome etc… Over time, this builds a clear picture of how you actually trade.

I track mistakes, emotions, and execution errors, and categorise them. Things like entering too early, moving stops, forcing trades, or ignoring my own rules. These are normal human reactions that every trader will experience. You cannot avoid feeling this way, but you can avoid acting on it.

Once you start grouping these variables, patterns become obvious. You quickly see where you’re going wrong and what needs attention.

To review properly, I go back to historical charts on TradingView and MetaTrader. This allows me to analyse trades in context, not just based on memory. TradingView is particularly powerful with the bar replay function. It’s the equivalent of doing practice questions for a big test you have coming up.

This process is simple, but it’s powerful. It turns trading from guesswork into something measurable and improvable.

At the end of the day, the tools are not the edge. The way you use them is.

A clean charting platform, reliable data sources, and a basic journalling system are more than enough to build a strong trading foundation. What matters is consistency, discipline, and honest review.