// Bench notes
Trading research guides, with the caveats attached
How to backtest properly, what a Sharpe ratio and a maximum drawdown really tell you, how the classic strategies behave on 20+ years of data, and honest answers about what AI can and cannot do in markets. Written by the AgentTrading research team. Educational content, never advice.
Option Alpha Review: Is It Worth $99 a Month in 2026?
Option Alpha review: Pro is $99 to $149 a month or $0 through three brokers, but the backtester only tests 0DTE and next-day trades. Who it suits.
Read the guideAlpaca Backtesting: Best Platforms to Test and Go Live
Alpaca has no backtesting engine and about six years of history. The three routes traders actually use, what each costs, and which reaches back to 2008.
Read the guideIs Value Line Worth It? Review of the $598 Subscription
Is Value Line worth it? What $598 a year buys, who Value Line bills as a professional, and when the $199 package or a library copy is enough.
Read the guideFactSet Competitors and Alternatives: Cost per Seat (2026)
FactSet competitors priced per seat: Bloomberg, Capital IQ, LSEG Workspace and Morningstar Direct, and which three can be checked against their own filings.
Read the guideCapital IQ vs FactSet: Cost per Seat for Small Firms (2026)
Capital IQ contracts run about twice FactSet on procurement data, per seat the two overlap at boutique size, and only one of the two prices can be checked.
Read the guideFactSet vs Bloomberg Cost per Seat for Small Firms
FactSet files its subscription value and user count with the SEC and Bloomberg files nothing, so only one of these two seat prices can be checked.
Read the guideCapital IQ Subscription Cost: Capital IQ Cost, CapIQ Pricing
S&P publishes no Capital IQ price. Vendr's live median is $51,672 a year across 56 purchases, and real contracts work out from $1,500 to $18,750 per user.
Read the guideKoyfin vs YCharts for Financial Advisors (2026 Pricing)
Koyfin publishes its full price ladder, YCharts publishes nothing at all. Both read at source September 2026, including the YCharts tier no advisor can use.
Read the guideBloomberg Terminal Cost: Price per Year and per Month (2026)
Bloomberg publishes no Terminal price. Sourced figures work out to $2,000 to $2,665 a seat per month, they disagree by a third, and here is why.
Read the guideBest Stock Screener with Backtesting for Value Investors
Point-in-time fundamentals decide this, not filter count. Portfolio123 states it has them; Finviz removed its backtester entirely. Nine tools priced at source.
Read the guidePortfolio Visualizer Basic vs Pro: Which Plan Advisors Can Use
Free and Basic are licensed Personal and Educational Use. Only the $55 Pro tier says Commercial, and it is the only tier that puts disclosures on the report.
Read the guideBest Algorithmic Trading Software for Retail Traders Without Coding
Composer, Option Alpha and TradeStation are the genuine no-code options. QuantConnect needs Python and its free plan publishes a live trading node limit of zero.
Read the guideBest TradingView Plan for Backtesting: What Each Tier Buys
The best TradingView plan for backtesting depends on your timeframe. Basic covers 20 years of daily bars free, Premium unlocks real intraday fills, and Plus adds no depth at all.
Read the guideOptions Backtesting Software: Best for Covered Call Sellers
Options backtesting software for covered call sellers: nine platforms priced at source, up to $149 a month, and why your end-of-day option quote is a 15:45 snapshot.
Read the guideBest RSI Backtesting Software for Swing Traders
Nine platforms checked against one requirement almost no review mentions: does it warm the RSI up before the first trade? Two popular picks fail it.
Read the guideBest Backtesting Software for Moving Average Strategies
Nine platforms checked against one requirement: can it actually run a 50/200 crossover? One well-known backtester cannot hold enough history to try.
Read the guideBacktesting Software for Schwab and thinkorswim
Schwab includes three thinkorswim backtesting tools free, and its own product page never says "backtest". What each does, and where you need more.
Read the guideBest Investment Research Software for Financial Advisors and RIAs
Koyfin publishes advisor tiers at $209 and $299 a month. YCharts and Morningstar publish nothing. What each tool costs, read off the vendors' own pages August 22, 2026.
Read the guideDoes Koyfin Have Backtesting? What It Tests and What It Cannot
No, on any plan. We searched five Koyfin pages including its own AI pricing guide and the plan comparison matrix. Here is what Premium does instead, and what to use.
Read the guideDoes Finviz Have Backtesting? What We Could Verify
Every 2026 review says yes and they disagree on the history window. Finviz' own backtests URL returns 410 Gone. Here is exactly what we checked and found.
Read the guideDoes Trade Ideas Have Backtesting? The OddsMaker Limit
Yes, through the OddsMaker, and it is TI Premium only. Trade Ideas' own guide puts its history window at about six weeks, which decides what it can prove.
Read the guideTradeStation Backtesting: What It Costs and What It Tests
TradeStation backtesting is free with a funded account. What strategy testing, walk-forward and Portfolio Maestro do, and why the $99.99 fee is not yours.
Read the guideWill AI Replace Equity Research Analysts? The Evidence
Will AI replace equity research analysts? Two 2026 studies of live analyst output reach opposite conclusions on accuracy. Here is what each found, and why.
Read the guideHow Much Money Do You Need to Day Trade? 2026 Rules
How much money do you need to day trade? FINRA scrapped the $25,000 pattern day trader minimum on June 4, 2026. Here is the floor that applies now.
Read the guideWhat Is a Good Beta for a Stock? Ranges and How to Read It
What is a good beta for a stock? It depends on the job. Here are the ranges, why two sites report different betas for the same ticker, and what beta misses.
Read the guideDoes NinjaTrader Have Backtesting? Strategy Analyzer Explained
Yes, NinjaTrader has backtesting through the Strategy Analyzer, with optimization, walk-forward and Monte Carlo. What it covers, what it costs, and the futures-only limit.
Read the guideHow to Calculate the Sharpe Ratio in Excel (and Sortino)
How to calculate the Sharpe ratio in Excel: the exact formula, a worked example, the Sortino variant, and the five errors that inflate it.
Read the guideWhat Is a Good Alpha in Investing? Stocks and Funds
What is a good alpha? Positive, and 1% to 3% a year after fees is genuinely good. Here are the ranges for stocks, funds and portfolios, and why alpha decays.
Read the guideIs Backtesting Accurate? Why Backtests Overstate Live Results
Is backtesting accurate? It describes the past under stated assumptions, not the future. How much edge decays out of sample, and why.
Read the guideHow to Backtest a Momentum Strategy (and Dual Momentum)
How to backtest a momentum strategy: pick the lookback, decide the skip-month, charge real turnover costs, and benchmark against buy-and-hold.
Read the guideHow to Backtest a Covered Call Strategy (and the Wheel)
How to backtest a covered call strategy: set the strike rule and roll schedule, model assignment, charge real costs, and benchmark the result against holding the shares.
Read the guideHow to Backtest a Dividend Portfolio (Total Return, Reinvested, 20+ Years)
How to backtest a dividend portfolio: use total-return data with dividends reinvested, cover 20+ years including 2008, charge real costs, and compare against a plain index fund.
Read the guideDoes Stock Rover Have Backtesting? Screening vs Testing
Stock Rover offers historical screening, not strategy backtesting. What the difference is, which plans include it, and how to test the rule you would actually trade.
Read the guideCan You Backtest a Trading Strategy Without Coding? Yes
You can backtest without writing Python. The four no-code routes, what each one can and cannot test, and the mistakes that make a no-code backtest lie to you.
Read the guideWhat Is a Good Calmar Ratio? Benchmarks and Formula
A Calmar ratio above 0.5 is respectable, above 1.0 is strong for a long-only strategy. The formula, honest benchmarks, and how it differs from Sharpe.
Read the guideDoes Interactive Brokers Have Backtesting? The Two Routes
Interactive Brokers backtesting comes in two forms: the options-focused ORATS Backtester and coded tests through the TWS API. What each covers and how to test a plain rule.
Read the guideTastytrade Backtesting: What Lookback Tests and Its Limits
Tastytrade backtesting runs through Lookback, an options tool with 10+ years of data. What it tests, its limits, the $0 Option Alpha route, and stock rules.
Read the guideMonte Carlo Simulation in Trading: What It Is and When to Use It
A Monte Carlo simulation replays a strategy thousands of times in random order to show a range of outcomes. How it works, what it reveals, and where it misleads.
Read the guideDoes Fidelity Have Backtesting? What Its Tools Can Test
Yes, Fidelity has a web-based Strategy Testing backtester. What it tests, why Active Trader Pro has none, and how to test a plain-English rule it cannot.
Read the guideWebull Backtesting: Replay Limits and What to Use Instead
Webull backtesting explained: Replay reaches back one month, paper trading runs forward on live data, and neither returns a Sharpe ratio or a drawdown.
Read the guideStandard Deviation of Returns: How to Read Volatility
Standard deviation of returns measures how much a return swings around its average. How to calculate it, what a good value looks like, and how it drives Sharpe.
Read the guideWhat Is a Good Sortino Ratio? Benchmarks and How to Read It
A Sortino ratio above 2 is strong, 1 to 2 is solid, and under 1 is weak. What the ratio measures, how it differs from Sharpe, and how to read it honestly.
Read the guideDoes Robinhood Have Backtesting? What You Can and Cannot Test
Robinhood has no historical backtesting for stock strategies. What it does offer, why brokers skip backtesting, and how to test a rule before you trade it.
Read the guideWhat Is Risk of Ruin? The Number That Decides If You Survive
Risk of ruin is the probability your account falls to a level you cannot trade back from. What drives it, how to estimate it, and how to push it toward zero.
Read the guideDoes E*TRADE Have Backtesting? What It Can and Cannot Test
Does E*TRADE have backtesting? Only for options income, plus a forward paper-trading simulator. No historical stock-strategy backtester.
Read the guideWhat Is Slippage in Trading? The Hidden Cost That Kills Backtests
Slippage is the gap between the price you expected and the price you got. What causes it, how to estimate it, and why leaving it out makes a backtest lie.
Read the guideDoes thinkorswim Have Backtesting? All Three Tools and Their Limits
Does thinkorswim have backtesting? Yes, three limited forms: thinkBack, OnDemand replay, and chart strategy reports. Where thinkScript is unavoidable.
Read the guideWhat Is Expectancy in Trading? The Formula and What Is Good
Expectancy is the average dollars a strategy makes per trade. The formula, a worked example, what counts as good, and why it beats win rate as a measure of an edge.
Read the guideHow Long Should You Backtest a Trading Strategy? Years and Trades
How long should you backtest a trading strategy: at least 20 years of data and enough trades to be statistically meaningful. Two rules, checked.
Read the guideCan AI Agents Trade Stocks? What They Actually Do (and Don't)
Can AI agents trade stocks? They handle research, reading, and backtesting well, but hands-off execution is where they fail. The honest split.
Read the guideWhat Is a Good CAGR? Benchmarks for Stocks and Portfolios
What is a good CAGR: roughly 10% nominal matches the market, low teens is strong, above 20% for years deserves scrutiny. Formula, benchmarks, and traps.
Read the guideAre AI Trading Bots Profitable? An Honest Answer
Are AI trading bots profitable? Most consumer bots that promise hands-off profits are hype or scams. What actually pays is research and backtesting. Here is the honest breakdown.
Read the guideWhat Is a Good Profit Factor? Benchmarks and Formula
What is a good profit factor: below 1 loses money, around 1.5 is respectable, above 2 is strong but deserves scrutiny. The formula, a benchmark table, and the traps.
Read the guideWalk-Forward Analysis: Testing a Strategy Out of Sample
Walk-forward analysis optimizes a strategy on one slice of history, tests it on the next unseen slice, then rolls forward. Why it beats a plain backtest, with steps and a schedule table.
Read the guideCan You Backtest on TradingView for Free? Yes, With 3 Limits
Can you backtest on TradingView for free? Yes, the Strategy Tester runs on Basic. The limits: Pine Script is required, bars are capped, Deep Backtesting is Premium.
Read the guideDo You Need a Trading Journal? What It Can and Cannot Tell You
Do you need a trading journal? Yes, if you trade often. It grades the driver, not the car. What to log, spreadsheet vs software, and the question it cannot answer.
Read the guideWhat Is a Good Win Rate for a Trading Strategy? It Depends
What is a good win rate for a trading strategy? There is no good win rate alone. Expectancy decides. Break-even table by payoff ratio and realistic ranges by style.
Read the guideIs AI Trading Profitable? What the Evidence Actually Shows
Is AI trading profitable? Where AI genuinely adds money, where it quietly costs you money, and the four numbers that decide the answer for your own account.
Read the guideDo Stock Screeners Work? What a Screen Can and Cannot Tell You
Do stock screeners work? Yes, at one job: narrowing a universe. What a screen proves, what it never proves, and how to test a shortlist first.
Read the guideHow Much Does Stock Analysis Software Cost? 2026 Price Table
How much does stock analysis software cost in 2026? List prices for 10 tools, checked in July, plus what each tier actually buys and where the money is wasted.
Read the guideHow to Backtest a Portfolio in 7 Steps (Weights, Rebalancing, Costs)
How to backtest a portfolio: set the weights, pick a rebalance rule, use adjusted data across 20+ years, charge real costs, and compare against a plain index fund.
Read the guideHow to Use AI for Stock Trading: What It Does Well, and Where It Lies
How to use AI for stock trading: the four jobs it genuinely does well, the two it cannot do, and how to check every number before you act on it.
Read the guideDo AI Stock Pickers Actually Work? An Honest Look at the Evidence
Do AI stock pickers work? What the research shows, why advertised win rates mislead, and the questions to ask any AI stock picker before you pay for it.
Read the guideBuy and Hold vs Active Trading: The Honest Trade-offs
Buy and hold strategy vs active trading, honestly compared: costs, taxes, the behavior gap, and when rule-based trading actually helps (risk control, not magic).
Read the guideCommon Backtesting Mistakes: 7 Ways Your Results Lie to You
Backtesting mistakes that inflate results: overfitting, survivorship bias, look-ahead bias, ignored costs, and small samples, each with the symptom and the fix.
Read the guidePosition Sizing: The Skill That Keeps Traders Alive
Position sizing explained: fixed fractional sizing, risk per trade, the losing-streak math that shows why sizing beats entries, and a careful word on Kelly.
Read the guideCan AI Predict the Stock Market? An Honest No, and What It Can Do
Can AI predict the stock market? No, and no honest tool claims it. Why markets resist prediction, and what AI genuinely does well.
Read the guideHow to Analyze a Stock: Business, Financials, Valuation, Risks
How to analyze a stock in four ordered questions: is the business good, do the financials confirm it, is the price fair, and what could go wrong. A framework.
Read the guideMean Reversion Trading: How It Works and When It Breaks
Mean reversion trading bets that stretched prices snap back. Why it works on indexes, feels awful to trade, and the traps that break it.
Read the guideRSI Trading Strategy: The 14-Period Rules, Tested Honestly
RSI trading strategy explained: how the 14-period oscillator and 30/70 rules work, why it wins in choppy markets and fails in strong trends.
Read the guideMoving Average Crossover Strategy: Rules, Evidence, Honest Results
Moving average crossover strategy explained: golden cross and death cross rules, why the signal lags, whipsaws in sideways markets, and what backtests really show.
Read the guideMaximum Drawdown Explained: The Risk Number That Actually Hurts
Maximum drawdown is the largest peak-to-trough loss a strategy suffered. Why it matters more than volatility, the recovery math, and how to read it in a backtest.
Read the guideWhat Is a Good Sharpe Ratio? Benchmarks From 0 to 3
What is a good Sharpe ratio: above 1.0 is good, above 2.0 very good, below 0 means cash won. Definition, benchmarks, and the caveats that change it.
Read the guideHow to Backtest a Trading Strategy in 6 Steps (No Code)
How to backtest a trading strategy: define a precise rule, use adjusted data, include costs, run it, and check it out of sample.
Read the guidePut a guide to work on a real ticker
Describe a thesis in plain English or paste a ticker. AgentTrading summarizes the fundamentals, backtests the rule on 20+ years of adjusted daily data, and explains the risks before you decide anything.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.