- Many retail traders are forced to trade with tape reading and their own imagination from the screen.
- Tradetiger of Sharekhan really a good tool for prepared traders.
- Multiple time frame view of price action ( 3D,5D) helps traders to form a opinion about likely support & resistance areas.
- Using this tool I could form a likely supply area for DLF at 487 in the morning trade. Combined with a range trading day hypothesis , me and my co-learner in the trading course decided to take a short trade. We covered for a 2% gain when other indicators started to deteriorate.
- How many retail day traders can access multiday view of price action of their stock in real time? I would presume not many.
- Chart based viewing of price action also helps traders avoid impulsive reactions and they can view with respect to a reference frame.
- I am trying to illustrate my trade ideas and decision making process using Tradetiger in the trading course.
Saturday, November 7, 2009
Falling In Love With TradeTiger
As a small speculator earlier I did not have access to real-time intra-day charting. It is a bit expensive for independent traders and infact not possible to access in crowded brokerage trading rooms.
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Dear Prof.
Here in Brazil NELOGICA produces the sofware PROFIT CHART (www.nelogica.com.br) for reasonable prices.
The intraday real time quotes & charts are available for aprox. 120 US Dollars.
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