One of my favorite websites to use online to chart is Tradingview. This platform has everything that you need in order to make money in the stock market. Popular indicators like Relative Strength Index, Bollinger Bands, VWAP, MACD and Moving Averages are just some of the many indicators you can use in order to increase your chances of winning a trade. It also includes information like news, earnings; IPO dates so you don’t miss out on good stocks to buy.
Once you create an account, type in the ticker of the stock you want to chart and click on that company, then click on Full-Featured Chart.
Once the chart opens up, this is where the fun begins. It might look overwhelming at first, but most of the tools are self-explanatory. If you have any questions about how to use Tradingview, you can always search it on Youtube. Right off the back, you can use a tool located on the upper left hand side called Trend Line.
From here you can start drawing your support and resistance in order to see what happens when the price of a stock break these lines. This is how the pros monitor when to buy or sell. Without charting, there is no way of knowing when a price will go up or drop. Here is an example of drawing a support line:
All you have to do is use the Trend line tool and connect the candle stick by drawing a line underneath it. Now you have your support line! This is important because when price break this support line, there’s a good chance price will drop. Unless you’re constantly monitoring each and every stock, there’s a much better tool to use to help you get fast alert.
At the top of Tradingview menu bar, there is an Alert button you can use in order to set an alert on the support, resistance or trend line.
The free version only gives you one alert which isn’t much at all. Using the alert function is powerful because these alert will go off once price passes these lines giving you quick price action and letting you know when to buy or sell. This alert alone allowed me to get massive gains and get ahead of the pros.
For starters, I highly recommend the Pro+ version with at least 30 side alerts: https://www.tradingview.com/gopro/. Once you master charting and get good at identifying price action movement, 30 alerts won’t be enough. Currently I’m using the Premium version with 400 side alerts. As you can see, I’m already using up over 100 alerts.
This alert helped me in many trades and entering in at the best price. If you decide to take day trading seriously, I highly recommend using this function.
Understanding how stocks work can be confusing at first. If you put in the time to learn charting and watch videos you’ll become successful one day at it. Don’t FOMO and follow high percentage running stocks. Do your own research/charting and make money on your own charts.