When one approaches the realm of stock charting software in the market or your usual technical stock analysis, you have a whole load of options. Some are full of horse manure, while some may make you more informed of the market.
Stock charting software are commonly used for the purpose of stock analysis. With that being said upon, there are numerous stock charting software out there that we can recommend to analyse Bursa Malaysia, the Bursa Saham (stock market) of Malaysia. In this article, we will explore how stock charting software works and the benefits one can reap upon for your benefits in trading or your technical stock analysis in Bursa Malaysia.
What Is Stock Charting Software?
Technical analysis plays a huge role in our trading technique. Some popular trading gurus locally in Bursa Malaysia constantly utilize technical analysis in their game too. Instead of the fundamental analysis, they used technical analysis for stock analysis. As such, we want to show you some of the best browser-based stock charting tools for traditional technical analysis or the growing popularity of Volume Spread Analysis in Malaysia when analyzing the Bursa Saham.
Stock charting software allows you to visualize different forms of charts based on a stocks price and movements. It utilizes varies forms of technical indicators, of which is dependent on the robousticity of the software and its filters pre-loaded upon.
A majority of free stock charting software often allows you to generate charts based in short time intervals, such as 1,3,5 and 15-minutes intervals. These however, only draw from one data source in order to provide you the information. While incomplete, they can still assist you to conduct better trades based on technical analysis. This is extremely useful when you would want to use volume spread analysis to analyse the Bursa Saham.
The Importance of Learning How to Properly Read a Stock Chart
If you wish to focus your resources into technical analysis, we highly recommend using a desktop-based system. There are several advantages which you can gain upon in comparison to browser-based alternatives in order to conduct volume spread analysis.
However, bear in mind that desktop-based system are much more expensive compared to browser-based systems. As such, if you’re a beginner in trading, or if you do not plan to focus too much on technical analysis, you can use one of the three website listed at the end of this article in order to analyse the Bursa Saham.
The very way to learn how to read a stock chart with precision and accuracy is to look at actual stock charts. Learn to analyse, compare and assess them. Watch each charts movement and see whether if your predictions are correct.
If you do not have the knowledge of reading a stock chart, then you’ll need to make trades based on luck or emotion either of which we do not recommend.
What should the Best Stock charting Software contain for Beginners?
The software should be an extensive tool that gives beyond than providing stock charting functionality; it needs to have guideline and assistance in order to provide a pleasant trading experience and education for your benefit in order to utilize volume spread analysis to analyse the Bursa Saham.
What Do You Need To Look at Before Choosing
When you are choosing your first stock-trading platform, you may need to consider your budget alongside you personal preference for trading.
Features Rich or Limitation
At times, you may, out of necessity or preference, switch to a new stock-trading software after you had learnt the in-and-outs of your previously used software for volume spread analysis. Certain stock charting software may lack the features of optimization needed to make fast and accurate decisions about your trades on the Bursa Saham.
Investing in penny stocks for example, involves taking chances on volatile stocks with huge positions. If you do not have a chart which updates fast enough that allows you to identify patterns and view previous price points, you may not gain opportunities to profit.
The user-interface should be easy to read and be organised upon. Can you navigate to the screens you need with ease? Are there any shortcuts or hotkeys to help you work faster? Are the fonts easily readable?
The user-interface also applies to charts. A disorganized chart is something which may confuse you, and this is especially for the case of beginners. Information is not easily gained upon viewing the chart, stock patterns are not as visible as they should be, and one may be distressed after viewing it for a few minutes. At times, the problem is that one is not able to analyse a critical window to analyse how the stock is performing on the Bursa Saham.
Ease of Use
Does the software allows one to adjust and modify technical indicator parameters? Can you choose from multiple stock types? What about watching multiple securities on the same screen?
Every trader is different. Features which one look for in a stock chart trading software program might be completely different from what you want for volume spread analysis. Make a list of the features you absolutely need the software to have as well as a list of great-but-not-necessary features to use for analysing the Bursa Saham.
Each and every trader is different. Feature which one may need in a stock-chart trading software program may be completely different from what another trader may need. Make a list of essentials and features which you absolutely need the software to have as well as a list of niche features.
It is akin to buying a car. You walk into a dealership with a checklist and tick off each item. If there are special bonuses, you’re more inclined to purchase it.
Best Free Bursa Saham Charting Software
Candlestick charts are easily read and getting very popular in Bursa Saham and provides lots of information of the modern-day trader, irrespective of trading experience in Bursa Malaysia.
Those of you who like candlestick charts as well might like these free charting software options in order to conduct volume spread analysis. They all have limitations, but they’re great for beginners on a budget. Having said that, take a look at these free chart websites to analyse the Bursa Saham!
Some may prefer candlestick charts may choose these free web-based charting options listed below. They all may have certain form of limitations, but they are amazing for beginners. With that in mind, here are some fantastic free stock charting software for you to use:
TradingView is made for day-traders and everyone else alike. You can view between one and 15-minute timeframes for stock changes.
The platform has a thriving social media component amongst Bursa Saham traders, which allows you to trade and share ideas with other people rather than trading alone. The platform also allows you to set-up alerts and view multiple charts on the same screen for comparison for Bursa Malaysia stock market and other regional market like Singapore Stock Exchange, Hong Kong Stock Exchange and US New York Stock Exchange and US NASDAQ.
As with most stock chart programs, TradingView goes by a freemium model. It is your choice if you wish to upgrade to gain access to in-depth features. I am a big believer in the freemium model.
ShareInvestor is one of the platforms you can get on, as it provides trading screening options for stock options based in Asia, and to a further extent, ASEAN.
It also organises financial investment seminars and conferences for investors. ShareInvestors annual large scale conferences, INVEST Fair in Malaysia and Singapore, draws companies and traders all around the world to Asia.
ChartNexus was created out of the frustration that most applications were too expensive or high in difficulty in usage. As a result, its stock chart platform is free for everyone to use.
It does not restrict its users in anyway to paywalls. However, one could not see stock values during intraday trading, and could only do so at the end of the day, potentially restricting one to trade strategically midday.
4. Google Finance
As with most Google products provided by Alphabet inc., Google Finance pushes the competition further with an elegant and clean stock chart platform. While not as complex as other systems such as StocksToTrade, the interface is extremely of ease to use. We can recommend Google Finance if you are already fully integrated into the Google suite of tools and are comfortable with them.
Another very popular with Bursa Malaysia traders and Investors and free for all Bursa Malaysia stocks including stocks, warrants and loans and come with very handy fundamental indicators like balance sheet and profit loss statement and its history too. You will notice the KLSEScreener charting library is similar to TradingView library too. Price feed is delayed however compared to TradingView.
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How to Make a Technical Chart Analysis
Technical chart analysis really is down to demand and supply. When demand increases, supply decreases, and vice versa.
A stocks price is represented in a chart format based on fluctuations of the stock. You will see trend lines as well as its support and resistance levels. Identifying the patterns in a stock price based on its historical performance is also a great way to start reading and analysing charts via volume spread analysis.
However, you may not just be looking over on price. You need to consider the volume of the stock. When the volume increases, you will have more opportunities to generate more money, either by purchasing or shorting on the stock on the Bursa Saham.
With fundamental analysis, valuation matters more than anything else. However, if you are conducting a technical chart analysis, valuation doesn’t matter. What matters is the stocks trends. You can make money regardless of a company or stocks valuation even if the stock only costs a few dollars and sells for just a dollar or so more.
With essential analysis, valuation of the stock matters more than anything else. However, if you are conducting a technical chart analysis, the valuation does not matter. What matters however, is the stocks trends. You still can make money regardless of a company or stocks valuation even if the stock only costs a few ringgit and sells for just one ringgit or more.
If you are committed to be a trader in the Bursa Malaysia stock market, you will need to understand how charts work. The recommended stock charting websites, from TradingView to Google Finance, will assist you in your journey to read charts accurately and utilise the data on volume spread analysis for more informed trading the Bursa Saham.
A lot of traders spend a lot of time reading charts. There is not much fundamental information out there, so you will need to rely on volume, price movement and patterns to be informed on when to make the next move. It is recommended that one is to continue your education in reading charts and to spend at least an hour or so every day studying chart patterns via volume spread analysis. Additionally, you can consult your professional traders on the TradeVSA platform or with other Bursa Malaysia trading communities for inquiries and advisories regarding stock chart analysis.
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