I am looking for the best stock charting software for Day trading, I have used yahoo, stockcharts.com, bigcharts.com and etrade pro. There are others out there, can anyone reccommend one over others and why is it better than others, price, ease of use, capacity features?
Any relevant comments or advice appreciated.
Each function key on your keyboard can represent 12 different chart configurations, so you can look at these 12 different criteria in seconds. As soon as you hit the "F" key, the chart is displayed on your screen.
Did I mention that it has all the industry groups? If you looking at a stock and you want to know how the industry is doing, just switch over to the industry group with a click of the mouse.
All the indicies are also grouped together. You can also download that group of stocks that meet your criteria into a CSV file for importing to XL. I especially like this feature.
The support you get from the Wordens is unsurpassed also, and I couldn't get by my day without reading the daily wisdom from Peter or Don.
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I heard there are groups of people that get together to share information, buy & sell stock, etc. etc. Any idea where I can join a group in Los Angeles, CA.?
Some good places online to share info with others and learn are;
investorshub.com (my favorite)
siliconinvestor.com
ragingbull.com
many boards are devoted to trading at the above sites. you can sign up for free memberships at all 3. Ask the traders on the trading boards what software they use.
I have been a trader, investor, broker, etc. and it is rare to see anyone who is not a professional trade for a living. If you got it, then you will know pretty soon. You have to be able to set your stops, take your losses if needed.
Also read "trading for a living" "come into my trading room" both great books from Alexander Elder.
Although it may not be obvious, day-trading creates certain risks for brokerages and exchanges as well as the individuals doing the trading.
The higher account requiremens reduce the risks for brokerages and exchanges. For more information see
http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003881.pdf
However, finding a good opportunity tends to leave at least some cash floating around. Aside from dumping it into a placeholder stock like BRK.B, moneymarket, etc. I am interested in utilizing, to some small degree, daytrading.
Basically:
(1) How is risk managed in security day trading? Forex trading?
(2) Do the few successful traders operate by intuition or determinism?
(3) How wide of a scope to most traders take? Ten stocks? One hundred? All of them? Similarly, how wide of a scope do forex'ers employ?
(4) Is there a way to get a hold of raw market data, outside of the wacky software like eSignal, etc?
Please do not try and pitch a trading system. Thanks.
A Free Basic Hands-on Training is available at http://finance.groups.yahoo.com/group/currencytrader/.
I prefer to go for weekend courses as it will not be possible for me to attend any on working days, I don't mind it being a Sunday too.
If there is an online course and I have to only attend an exam for the same, I don't mind going for that too!
Thanks.
You may also want to talk to other traders to find out what they think/use. Try:
http://finance.groups.yahoo.com/group/TradingZoom/
It's a free online stock picking group. We have a few Indian members trading US stocks.
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1 – I look at the Zacks Rank and check some of the #1 stocks;
2 – I do some fundamental and technical analysis. I look at the 50 day/200 day moving averages, the ADX, the MACD and the CCI. The 50-day MA has to be above the 200-day MA. The ADX has to be above 30. The MACD has to be above its 9-day EMA. The CCI (20) has to be above 100.
3 – Then I check some news on ths stock and on the sector.
What is your system? Give as many details as possible.
http://finance.groups.yahoo.com/group/TradingZoom/
- a good place to discuss trading systems with other experienced traders.