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24/03/16
08:06
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Originally posted by donkhorsepower
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All, (and I mean all ) of the software are just tools to display and sort the data into something that you can interpret and make sense of. Some of the charters get very excited with many (too many mostly) indicators that just confuse the data:
Open, close, volume, high, low etc.
You can slice and dice that data so many ways, but at the end of the day, you are looking for movement in stocks that persists . As I said previously, keep it simple and see if you can identify trends in stocks that interest you. I always recommend to beginners to seek out stocks that are rising consistently, and then look for patterns in those stocks that have these 'perfect curves'. Once you get a feel for how these stocks look, then you can add in more complexity as you get a handle on things. But recognising a stock that is moving in a nice curve is an essential skill that takes time to get bedded down.
If you want to try some free software, Incredible Charts is highly regarded (they do very good charts) for the princely sum of $0. For that price, it is well worth the effort. I use a Mac so it does not fly for me, but a lot of traders started out with that software, and swear by it. Good luck with the software trial and let me know if you need a hand.
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Hi Donk
Good post
I would like to just add that individuals must decide it they are trading or buying for long term/dividends as there are different requirements for both
I use IC and even the cost if you get the full deal is not much compared to some of the others