EOD chart or live streaming charts

[sandy_10]

Hello All,

I am new to trading and want to explore the technical side of trading. Could you please assist me with my confusion on chart selection.

I currently downloaded the chart nexus free version and it shows me EOD charts until previous day with support & resistance on just two stocks. Wanted to understand - How would EOD chart would help to analyse for next day? is thr any other software,which I can take a support guide for intraday/very short term position (week/fortnight) trading ?

And how is live streaming chart ? which one is better of the both and how either of it have pros & cons?

I dont directly want to jump into live trading before understanding the nitty gritty of trading. I will read thru some books to understand more on charts but your advice on above would defiantly will be an added advantage.
Thanks in advance

 

[mrcool4]

Hi Sandy,

Icharts.in has free EOD charts with so many custom indicators. For live streaming charts there are so many paid software. For a newbie like you I would recommend EOD charts to get a better understanding.
At the EOD read the charts and take the position next day based on your levels from your charts. In my opinion Live streaming charts are useful only for intraday trading which I won't advice you(Very Risky).
There are so many useful posts on this forum which can guide and help you.

All the best..

Cheers,
MC

 

[colion]

Hello All,

I am new to trading and want to explore the technical side of trading. Could you please assist me with my confusion on chart selection.

I currently downloaded the chart nexus free version and it shows me EOD charts until previous day with support & resistance on just two stocks. Wanted to understand - How would EOD chart would help to analyse for next day? is thr any other software,which I can take a support guide for intraday/very short term position (week/fortnight) trading ?

And how is live streaming chart ? which one is better of the both and how either of it have pros & cons?

I dont directly want to jump into live trading before understanding the nitty gritty of trading. I will read thru some books to understand more on charts but your advice on above would defiantly will be an added advantage.
Thanks in advance

Study the EOD data but suggest using a resource with the full spectrum of indicators so that you can study them as there is much more than support and resistance.