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.

  1. Many retail traders are forced to trade with tape reading and their own imagination from the screen.
  2. Tradetiger of Sharekhan really a good tool for prepared traders.
  3. Multiple time frame view of price action ( 3D,5D) helps traders to form a opinion about likely support & resistance areas.
  4. 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.
  5. How many retail day traders can access multiday view of price action of their stock in real time? I would presume not many.
  6. Chart based viewing of price action also helps traders avoid impulsive reactions and they can view with respect to a reference frame.
  7. I am trying to illustrate my trade ideas and decision making process using Tradetiger in the trading course.

1 comment:

trader said...

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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