Why running a daily price analysis could ease your trading day.


In my opinion, and with due respect to trading with fundamentals, all company analysis and activity culminates in only a single result at the end of the day, the price at close of trading.

It is so easy to get bogged down, confused, lose one’s way and time trying to follow the dynamics of just one company’s activity during the trading day, never mind several. Price is a straightforward plot to follow; how long does it take to analyse a price? It’s a single instrument, a single observation.

Sophisticated charting software systems are available, either owning or by subscription. An online search will provide many good providers. This software provides a multitude of tools and indicator options along with data feed, which one can obtain for under $1000. It’s mostly down to personal choice which system is best for you.

However, it is no great issue to get online daily trading prices and plot one’s own chart on paper. After all charting software hasn’t always been around. Obviously such software offers versatility and speed over pencil and paper. There is also the advantage of being able to use the historical data available with most charting software in order to build up a solid picture for back testing for instance.

One price, one analysis; use it, with your chosen technical indicators and it should make you trading day a little easier.