What Chart & Data Package?

[PitBull]

Can someone please help me decide what chart and data feed package is best for a newbie just starting out SB.

I want to trade US stocks and indices and some commodities. I have researched into most of the chart sites recommended on T2W, and think I have finally found one. This has also been recommended to me. It is www.prophet.net. but the only problem is, it costs $35 per month. I know that I need the right tools to do TA but I will be starting out with small stakes and might not even cover my costs of this charting package. Or should I use some of the free sites for the charts even though the data is delayed, i.e. www.finance.yahoo.com? ( I think I would prefer the web instead of seperate software, as I can use the tools whilst at work)


this brings me onto another question.

Do I really need real time data if I am position trading and thus only holding open trades for 1 to 7 days?

There is another website that has been recommended to me and that is www.sixer.com. for its research and TA analysis on US stocks. It looks good and can save you a lot of time checking through all your charts. Again, this is $20 per month. Should I subscribe or is there other websites cheaper or even free that scans stocks?

Your advice would be greatly appreciated.

 

[Helenqu]

Why don't you just use the charts on D4F to begin with? They are fine for longer holds. Or alternatively check out e-signals Market Centre which is web based, you can get a one month trial where you only pay for exchange fees.

What sort of scans do you want to do?

 

[options]

RT at Lycos finance Yahoo is only a tenner a month (Or it was) and they give a free 2 week trial.

Eod stuff try something like www.inverline.com
Pretty good and free.

It will give you a start anyway.

 

[davelong]

Hi Pitbull,

I am not sure if it will be of any use but there is an Australian site called spacejok.com I know it sounds a bit strange but the site owner is a novel writer who started into trading and did not want the commercial offerings around at the time so he wrote his own.
It will take a variety of feeds some free some not, also, you could try medved.com which is free software (I think) with again a choice of feeds of which I think Scottrade is a free RT feed.
This was correct a while ago but things do change and fees are sometimes charged when once they were free.

Kind regards

David

 

[PitBull]

Many thanks for your quick replies.

Helenqu

have checked out D4f and didnt like the charts, not that flexible.
Will check out e-signal.

Regards to stock scanning. Looking for new chart patterns, new breakouts, Moving averages crossovers, etc. i have registered to SignalWatch.

Options
Are these sites flexible enough to add your own studies and do they cover commodities as well?

Dave
Yes, installed SpaceJock, but couldnt get data feeds to work. Do you use this yourself?

I think what I am really looking for is a one stop shop.

Cheers

 

[The Beyonder]

Hi Pitbull,

If you're holding for a few days then I'd say real-time data/charts is not 100% vital. If you really want to then you can check out Scottrader as davelong suggested. The data is free and they have basic charts.

If you don't mind delayed there are zillions of sites but Stockcharts.com is excellent with good educational material as well. One of their best things is their scans. They have a number of free scans which looks at MACD, breakouts etc but they come into their own when you subscribe. I use the extra service, $20pm, the charts are better and you can write your scans which will do practically anything you want.

Regards

 

[Helenqu]

Have a look also at AIQ, it's expensive but if it's scanning etc you want it's wonderful

 

[options]

Hi Pitbull.
The site I mentioned, saves all your settings on their server.
Just register for free. Lists most shares from different countries inc nasdaq.

Commodities?
No.

Don't bog yourself down here. Stick to one thing.

 

[PitBull]

Thanks guys, really appreciate your advice.

Yes was getting bogged down in choosing which markets to trade and chart packages to use. Think will go with StockCharts, as they also including scanning.

I may want to dabble with indices now and again, and thought that having real time data would help. Does it help or should I concentrate on the SB price, as it is this price, not the current index price that is going to make/lose me money?

A little confused at the moment with so many sites to research!

 

[Helenqu]

Hi Pitbull,

Take it easy and take one thing at a time. "Dabbling" in any instrument will only lose you money so get your stock stuff sorted first I would

Whne I started trading on D4F in indices I only used their charts and I did OK , I broke even, so it's a good place to start off and develop skills at low cost.

Good luck