Every one talks about trading these days. When we say trading we understand buying or selling stocks (such ass Apple Stock:AAPL), foreign exchanges (such as EUR/USD), crypto coins (such as BTCUSD, XRPETH) or other equities.
If you have traded before you have already know the term “technical analysis”. By using technical analysis you can find optimal places to enter a trade or exit a trade. Technical analysis also gives you peace of mind, it can detect if an equity is in a trend, and as long as it is in a trend you can stay in that position and enjoy the earnings from your positions.
I want to talk about some opportunities with online charting Tool: Trading View
Tradingview is one of the most extensive tool I have used so far. It has many technical analysis tools. You can also share your of strategy to the community. Which makes the tradingview so powerful. Many successful traders share their strategies here.
With trading view you can insert a strategy to an equity such as TSLA (Tesla Stock). When the condition to enter trade exists it sends you and email, SMS or phone notification. So you don’t have to look at the charts every second, everything is done by the tradingview servers.
Sometimes you have to wait 30 days to a good condition for a single stock for entering position. It is too much time for most of us. That also means your money will be sitting useless. What I do is, I add 100 different stocks to tradingview platform, trading view continuously scans those stocks for a possible opportunity and sends me notification and email when there is one. By tracking 100 different stocks you can get up to 5 signals everyday and invest in all of those 5 stocks or you can manually investigate best stock of those 5 and invest in that stock.
Ok, but there are 1000s of technical analysis signals in trading view, which ones I should use? Here is the method that worked for me:
- Add SuperTrend indicator
- Add Parabolic SAR indicator
- Add Aroon indicator
- Add MOST indicator
- Add MACD indicator
And set alarms for Parabolic SAR indicator. When Parabolic SAR indicator changes it’s direction (from sell to buy OR from buy to sell) you will get an alert (email, SMS, notification).
Then check if SuperTrend, Aroon, MOST and MACD agrees with the direction of Parabolic SAR. If yes ENTER THE TRADE. That’s it! If not, wait for another signal from tradingview.
If all indicators tells sell, then sell
If all indicators tells buy, then buy
If indicators have different signals (like 2 buy, 2 sell, 1 no signal) just wait
You should sign up to tradingview using your email. It is free to use forever. You will be able to track 1 stock in free mode. You can also sign up to trialling to get unlimited stock scanning and signals. It is also free for 30 days. If you find out that you can make money by signals you can switch to paid subscription option. Also you can wait for special days for extra discounts suc as Black Friday, New Year, Cyber Monday etc. they give you extra 60% discount.
Warning: Trading is a risky business model, you should get enough education and do simulated trading before using real money. If you can not manage your money and risks you can lose all your investments! You should also get consultancy from a certified trader. Please trade at your own risk.