Hello everyone,
I am new to this forum and let me begin by saying that I already found a lot of useful information here as well as in the articles section. Thanks a lot to all who contributed to this great source!
I have been reading up on trading (various types), technical analysis, strategies and so on for some time and would like to start paper trading now.
My goal is to develop some skill in technical analysis, which I would like to use in the beginning to develop a trading strategy based on that. I am looking into swing trading, maybe holding positions up to a few weeks, but preferably not longer than a week. Is that a good start or would a different approach be better to learn?
I read some articles and posts about chart analysis and would like to try to see whether I can spot S&R levels etc and act upon them. I found yahoo finance so far quite useful and the new charting tool is quite nice. However, it does not give me the freedom to configure the chart display enough, i.e. set the time-frame accurate enough. For example, I can either display the last day or the last 5 days - but not zoom in enough to for example only look at the last 2 days etc.
Can anyone comment a (preferably free) tool which allows me to do precisely that? If it is reasonable I am also willing to pay for a software package, but as I am just beginning I would prefer a free one.
Furthermore, as I am planning to trade on paper for several month, do you think that my plan is good to start and develop some ability to spot good entry or exit positions?
Or would you recommend a different time frame, other financial products, etc.?
It would be great if some of you shared your knowledge with me!
Thanks a lot,
Ben
I am new to this forum and let me begin by saying that I already found a lot of useful information here as well as in the articles section. Thanks a lot to all who contributed to this great source!
I have been reading up on trading (various types), technical analysis, strategies and so on for some time and would like to start paper trading now.
My goal is to develop some skill in technical analysis, which I would like to use in the beginning to develop a trading strategy based on that. I am looking into swing trading, maybe holding positions up to a few weeks, but preferably not longer than a week. Is that a good start or would a different approach be better to learn?
I read some articles and posts about chart analysis and would like to try to see whether I can spot S&R levels etc and act upon them. I found yahoo finance so far quite useful and the new charting tool is quite nice. However, it does not give me the freedom to configure the chart display enough, i.e. set the time-frame accurate enough. For example, I can either display the last day or the last 5 days - but not zoom in enough to for example only look at the last 2 days etc.
Can anyone comment a (preferably free) tool which allows me to do precisely that? If it is reasonable I am also willing to pay for a software package, but as I am just beginning I would prefer a free one.
Furthermore, as I am planning to trade on paper for several month, do you think that my plan is good to start and develop some ability to spot good entry or exit positions?
Or would you recommend a different time frame, other financial products, etc.?
It would be great if some of you shared your knowledge with me!
Thanks a lot,
Ben
