When you are getting set up with trading being able to set your charts up how you want is very important. As a pilot, I know how important it is to be able to trust your tools.
For trading your most crucial tools are your stock scanner, charting software and broker.
Why use Tradingview?
For me as a mom of 2, I tend to be at my desk in the morning for my premarket prep, market open and until around 11am. Then it is time for adding balance into life with the gym, and mom duties.
So for me the top reasons I use Tradingview are
- Cost of the Software
- Custom choice of Data Feeds for Global Markets
- Mobile Ios App and Android App
- The Charts and Attributes
- List building Capacity
- Scanning of Stocks
- Sharing of ideas
Tradingview Cost
You can see that Tradingview does have very affordable rates for charting. There are other free charting softwares out there, but the additional attributes offered with Tradingview make it my #1 charting option.
Stock Market Data Feeds
Tradingview is a great charting software for traders of crypto, forex and stock markets around the world. The data feed is monthly add on ala carte.
Meaning you can add only what you need and you don’t pay for what you don’t use. I really like that feature.
For the North American Markets you have your choice of ARCA, NYSE, Nasdaq, CBOE, OTC, Futures (CME Globex, CBOT, NYMEX, CBOE, ICEUSA) , Canadian (CSE, TSX).
For European Markets you have the choice of BELEX, BIST, BME, EUREX, Euronext, FWB, GPW, ICEEUR, LSE, LSIN, MIL, MOEX, OMX, OSE, SIX, SWB.
For Middle East and African Markets you have the choice of BSE, DFM, EGX, JSE, NSE, QSE, TASE, Tadawul.
For the Mexican and South American Exchanges you have a choice of B3, BMV, BVC, BVL, BYMA and SSE.
That brings us to the Asian and Pacific Markets offered of ASX, BSE, FTST, HKFE, HOSE, HSI, IDX, KRX, MYX, NSE, NZX, OSE, SEHK, SET, SGX, SZSE, TFEX, TOCOM, TSW and TWSE.
So you can see that you definitely have you choice of markets around the world you can trade with this software. The next feature is my absolute favorite.
Tradingview App
As I mentioned above, I am usually away from desk as of noon as the markets tend to be more run by algos and less retail traders and more high frequency manipulation.
That is why I love having the Tradingview App at my fingertips to keep a pulse on the markets. I can set everything up at my desk in the morning and it transfers right to the charts on my phone.
I have not found another charting software that presents the same view of charts on desktop as with mobile. This app is also available as a free customer.
Basically I set up my watchlist, alerts and charts with targets before I leave my desk so that I will receive notifications. I have also tried other broker software for alerts, but non have sent notifications to my phone.
I can be working out on the treadmill and receive the alert on my headphones and its time to take partial profit as the target has been hit. Love the apps.
Chart Indicators
I also have yet to find another charting software that offers over 100 of the most popular indicators and allows you to also write your own script for custom signals. There are over 8000 of the community powered indicators.
The Free version will unfortunately only allow 3 indicators at a time, while any of the paid versions will allow you to have 5,10,25 indicators based on your subscription level.
Chart Alerts
This as I mentioned is amazing with Tradingview. You can set alerts based on price when a certain condition is met and then once your criteria is fulfilled you can receive an sound alert on your computer, email and even a notification on your phone.
The alerts are great as well because you have the software watching your stocks while you are on one chart and then a pop up will alert you when conditions are met.
Watchlists
The free version will allow you to have 1 enhanced watchlist and with the paid versions unlimited numbers of lists. This is great if you like to watch stocks in indexes, a sector, swing trades or day trades.
Not only setting up your own watchlist but Tradingview offers you hotlists of top movers and more. It doesn’t stop here.
Stock Screener
Tradingview will also offer you a complimentary screener. Not only can you use this screener for stocks but also for crypto and forex. For the free version you are limited to Daily, Weekly and Monthly timeframes. All of the paid versions have the ability to scan on all timeframes.
What is better than being able to share all these ideas.
Social Network Sharing
You have the ability to publich private or public ideas. You can share viewo ideas, two of the plans offer custom chats.
Negatives to Tradingview
To me it came down to only 2 negatives with the software.
The paper trading could be improved. Right now the software only offers the capacity to paper trade stocks and with simple buy and sell limit or market orders.
It would be great if you could put in trailing stops and stop limits as well on the paper aspect. I would also love to see if they add options paper trading as well.
The second negative is that the brokers that they link with are not your usual trading brokers. I know that they are looking to set up many of the popular brokers such as Interactive Brokers coming in 2020.
Overall you can see that TradingView has some amazing features at a very affordable cost. Bottom line with any tool that you use in trading is if you are able to cover you costs by profitable trades using the software it warrants the use of that software,
If you want to learn more check it out and sign up for your free account.
I love hearing feedback, so please share. You can also contact me on my social media accounts Twitter (@ItsAirplaneJane), Instagram (missairplanejane), LinkedIn and Facebook (@sugarairplanejane) or YouTube
The tool I use for scanning and alerting is Trade Ideas who offer an always free trading room. You can receive 5% off with Promo code CARPEPROFIT15 all caps when you sign up here for your first year or month
Trade Ideas will be offering the quarterly full access test drive of their software their software in Nov 2019 for the cost of data fees $9.
Another amazing software is Trendspider that has a new innovative rain drop candlestick that shows the volume for the morning session and afternoon session as far as the weight of it in price action. You can try them for free for 7 days here and receive 20% off with MTS20
My book is available at Amazon FMJ Trust Transition Trade: How Successful Traders Said It, Did It, and Lived It . As well as Barnes and Noble, Indigo, Chapters,and more.
For my charts I use Tradingview which offer free charting and paid services.
Also Stocks To Trade that has a 2 week $7 trial
This blog is for informational and educational purposes. I am not a registered securities broker-dealer or an investment adviser. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any security or fund.
I am just now getting into the stock market and learning all about trading and such. I really love this because I recently came across some other websites for looking at stocks and charts and I think Tradingview is awesome tool. Do you trade a lot? Or are you new to trading relatively?
Ian there are many options out there for sure for stocks and charting. I have been into day trading since 2015 after the birth of my first daughter.
Loved the article. I haven’t used this particular charting software because I prefer a little bit more easier options. I can not say I am that exeprienced in trading field and TradingView would probably not do the job for me. I will have it in mind when I learn more about trading.
Lovely website by the way.
Thank you for this great article and also sharing your lifestyle. That’s cool that you just do your trading in the mornings, and then you have the rest of the day for a balanced life. Trading view sounds great. It looks like BRK.A went up a lot. Trading sounds so complicated. Is Tradingview good for beginners? I will have to read the beginner’s section of your website. If I only have $50 to trade with, is there anything I could do to make a profit? What about $100? Thanks!
thank you. If you are looking to getting into trading definitely check out my tips for beginners. Best to study while you grow your capital to trade. The more you study and paper trade the better your results will be in the end.
With the technological advancements of today, trading has become a more accessible business now and gone are the days when you had to call a physical broker to trade stocks or forex. The market has also expanded much now and it encompasses not just stocks and forex but also new items such as cryptocurrencies. In the tumultuous world of online trading investment, you’ll need a guide to help you navigate properly. Tradingview will provide you with charts to help you make the right trading choices, at a relatively low price.
Hi! Trading is trending. I have initiated this journey and kept on going for some time and I see more and more people interested in learning about it recently. I have that exact same position you have, the tools we use are super important. I’m interested in giving Tradingview a try! I also like they have an app available!
I am looking into getting involved in the stock market, and have been looking for sites that will walk me through not run me through as i like to go over things to understand what I am working with.
Your trading view walk through has definitely shown me why its a top charting program and love the way you can link to your phone so your not sitting in front of your computer all the time the stocks you are following are trading, as the app can keep you posted and you can act when you need to and not miss the need to buy or sell, which could save you heaps in losses and make you heaps in gains!
And will be reading the book you have recommended FMJ trust transition trade, to help with building my knowledge.
Great site by the way
Thanks
Jan
I recently became interested in Forex as my first trading venture. I do know that you have to have a good bit of money in order to see exponential gain, but I am willing to save up just for that. I am glad I came across your website and your review on the trading view app since I am a day trading beginner. It is great to have the things you need at your finger tips.
I really didn’t understand how investors tracked their investments, and trades until I came across your website. I will definitely bookmark your site and visit often to gain more knowledge on the subject. Your review was insightful and a wellspring of knowledge.
Hi Jane! I have read a couple of good reviews concerning TradingView. But I really don’t like it when the reviews go like: good, good, all good, because it sounds like a sales pitch to me. I really liked your honest review and appreciated the fact that you mention where there is room for TradingView to improve. I’ll definitely give TradingView a free test drive. Thanks!
To be candid, this is really nice to read but trust me, I still don’t get it that much but I know by the time I go through it over and over again, I’ll solve it. I’m very new to the stock market, and this whole trading thing seem really puzzling to me, a little help for beginners will help since you’ve been into it for a long time. This information is really good and I’ll bookmark it so I won’t loose it, it’s time of service will arise later so I’ll keep it. Thanks for putting this together. If you don’t mind, please do a kind of newbies level summary about the stock market and your advice on how to go about it.
Tradingview is really nice and very resourceful for stock marketers, it’s very nice of you to take out time to put this review together. I think it offers more than it’s being paid for and about the negatives you mentioned, they are liable to be adjusted later. I’m not into stock exchange market or forex, but I have a couple of friends who this information will come handy for, so I’ll share it to them. Thanks for helping others.