Hey All
I am very new to SB, played a demo account for 6 months, then tried for real and lost some money, but at the same time learnt loads so its not going to bad...
I am wondering if there is any software to help predict or analyse the markets that is affordable or uses a free feed for data?
Thanks
Nope.
Spend some time looking at threads here......the same question and responses are numerous, mostly negative and derisory! However everyone still looks for this holy grail, although the more knowing will look with curiosity (ie: whats cooking this week) rather than any real expectation.
There are many ways to trade, but very few if any will be a system or black box method.
Usually its down to spending ages looking at charts and trying to look IN the charts rather than AT them. You will also need to understand time, poor value entries and recognise chaos. It will also be helpful if you understand the psychology relating to the "graph"...Ie, why are traders in and when & why will they bail out. Where might traders be looking to get in and trade??
This all sounds difficult, and it probably is for most. Time and perserverance count for a lot. However as an example, if a price is sky rocketing, clearly lots of buyers are in and being greedy:whistling ...its as simple as that...other moves are just shades of this immotion and counter moves (usually red
)demonstrate the fear side of the coin. Knowing when fear will strike is not a bad place to start, downward moves are easier to gauge in my opinion.
Never ever trade without stops.
Play poker.....and you will understand why.
Get that all sorted you will be ok!
