I bought my first eBook reader, the Sony PRS-505 digital ereaderin late 2008, about 2 years ago. The Amazon Kindle was already out back then was quite a different device from the new one Kindle 3.

I really enjoy using the Sony reader, I like having a ton of books with me whenever I want to carry something to read and I like the fact that I can read on it PDF’s instead of strain my eyes on the LCD. So I was thinking maybe I should upgrade. Looking at the specs it is difficult to determine if the Amazon Kindle is that much better than the Sony Reader. It has 3G connectivity which I really don’t need, at all. It slimmer than the older Kindles but the PRS-505 is very slim. Memory wise I already have an expanded 2GB card in which is plenty of space. I don’t read books on my mobile phone, even with Nexus One’s large screen it is just not convenient, so I don’t care about syncing books. So the only thing left which has any kind of significance is the screen.

Both devices have a 6″ display, but the PRS-505 has a Vizplex eInk and the Kindle 3 a newer version which is supposed to be crisper and better contrast due to a “whiter” grey screen. How discernible is it? I can’t tell, I haven’t seen the Kind in real life and I haven’t been able to find an online comparison of these 2 models.

Then there is also the Sony Reader Daily Edition, with 7″ screen and a bunch of other features which are nice like landscape split page, but it is a bit more pricey. And there’s the Barnes & Noble Nook but I read that the color navigation section is slow and buggy.

If I can find somewhere a comparison or review of the new Kindle vs. the Vizplex Sony devices that shows any real difference I might go for it.

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So I’ve been spending the whole summer getting some education, opening my horizons, getting exposure to different speakers, trading instruments, methods and styles. I thought it will be useful for someone out there to list all the resources I’ve come across over the last couple of months.

Before I do that though I need to caution that not all trading webinars are created equal, some were really good and gave ideas I could pursue almost straight away, and some were just pure sales pitch. It’s difficult to know in advance which would be which, a lot also depends on your areas of interest, current level of trading expertise and which type of trading you’re attracted to and trying to pick up or improve on. Nevertheless I think it’s been a really good summer in terms of going beyond my usual trading style and comfort zone.

If you know of other relevant trading webinars sources, either free or with minimal cost such as opening a brokerage account (no $4995 webinars please) then feel free to leave a comment and I will add it to the list.

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I’ve been asked by JD to write about what tools I use for trading so here’s a quick run down of some trading resources fellow traders may find useful.  Since I started with trading in 2000 I’ve used dozens, if not more, of tools such as charting and graphs applications, intraday data feeds, indicators, stocks scanners and screeners with and without strategy automation, intraday market gauges and barometers, spreadsheets, brokers (both direct access and online web-based ones), you name it most likely I’ve used it as some point. So the following is a snapshot of what I’m actually using at the moment. I try to keep things simple and basic, the less clutter and the lower the costs the better.

1. Charting – primarily QuoteTracker with IQFeed but also TradeStation and Amibroker occastionally. I was a very avid user of QCharts, unfortunately with the move to eSignal the application got screwed and became unusable. The amount of problems reported on the eSignal QCharts forum would embarrass any self-respecting company.

2. Broker – Almost exclusively InteractiveBrokers. The execution is great, the platform is rock solid, the commissions are low, the issues are rare, order types variety is awesome, access to international markets, currencies, futures, you name it. What’s there not to like? No charting, a bit of a learning curve for newbies, customer service is a frequent complaint, I don’t have very memorable negative CS experience in the past 4+ years I’ve been with them (which is probably quite telling in itself).

3. Scanners – a must have for day traders – I used primarily IB’s TWS scanners and Trade-Ideas.

4. Position sizing – A simple excel spreadsheet I made which calculates for me how much I should buy/short based on my risk level, entry and exit.

5. Trading Journal – I use Stocktickr to record my trades, it’s a great tool and much better in terms of features and analysis capability than the limited functionality I had before this came about when I was using an excel spreadsheet.

6. I also use Stockfetcher for testing out news ideas as well as TradeStation and Amibroker for more systematic backtesting.

7. Everything runs on my MacBook Pro running Win XP over Bootcamp with just the 15″ screen. I used dual screens back in 2005 for a couple of months but never felt I really needed it. If I had a second internet connection I’d probably run a second computer with its own monitor just as backup + for other non-trading related internet usage and music. I also use the excellent Logitech Cordless Trackman which is a wrist saver (during the week I live inside the computer).

What I never used and don’t see myself using: Trading rooms subscription, alerts services, newsletters, paid indicators (I use just EMA5 for stocks), paid guru consultation / training services, anything costing more than a 2 digits US$ amount (except for must have data service). I did buy, and sometimes still do, many many books on trading, some were excellent but most not very useful.

What else? I think that’s about it. Those are the tools that work best for me, at this point in time, that doesn’t mean they’re the best for others or that I won’t change something. At the end of the day you have to make sure whatever you use supports your trading style and objectives.

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