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My Journey to Millions
Free Technical Analysis Software for Stocks
Investments

Free Technical Analysis Software with Buy/Sell Signals: What You Need to Know

by Safwan Azeem 01/23/2023
written by Safwan Azeem

Are you tired of feeling like you’re playing a guessing game with the stock market? Free Technical Analysis Software for Stocks can help. It’s like a crystal ball for traders. It helps them to peek into the future and identify trends, patterns, and potential buying or selling opportunities.

But what in the world even is it and how does it work? More importantly, can it make you profits? Or are you still in the dark every time you need to make a stop-loss decision? 

Fret not. By the end of this read, you’ll be well on your way to making informed trading decisions. So let’s get down to business.

What is Technical Analysis?

In essence, Technical Analysis or TA revolves around real-time data. For instance, studying the stock chart patterns, indicators, volume, buyer/seller behaviors, world economy, trends, and so much more! 

Primarily, the software learns these trends and is then used to make predictions about the stock market. Both in the short term and long term. 

Technical Analysis can help traders identify patterns and trends that may not be obvious from just looking at stock prices. 

One thing to be mindful of though — the markets are manipulated and TA doesn’t always predict right. So it’s basically all about making the best decisions with whatever facts you can gather and predicting how all that will affect the prices.

How Technical Analysis Helps in Trading

By using historical price and volume data, traders can spot trends and patterns that may not be immediately obvious to a newbie. This can give traders a leg up on the competition and help them anticipate future price movements with ease.

Similarly, it can also provide a framework for setting stop-loss and take-profit levels. By using technical analysis to identify key levels of support and resistance, traders can set these levels that are more likely to be effective.

In short, technical analysis is like having a personal stock market fortune teller. It can help traders make more informed decisions. The benefit? Increased chances of success in the market. 

Technical Analysis Tools: Are They Reliable?

Although they’re highly valued by the stock community, the truth is that everything has potential for failure. When it comes to technical analysis tools, be cautious and do your research to determine the reliability. Not all tools are created equal. Some may not be suitable for your needs or trading expertise.

One way to assess the reliability of a tool is to look at its track record. A tool with a proven track record of providing accurate and useful information is more likely to be reliable than one without a track record.

Similarly, a buy/sell signal tool that is transparent about its methodology and provides detailed information about how it generates its predictions or signals is more likely to be reliable than one that is not transparent. Oftentimes, many tools won’t be transparent about their fact-gathering processes — indicating a potential scam. This is why it’s better to trust charting tools with actual indicators and their synergy than merely buy/sell signals.

It’s a good idea to check reviews and testimonials from other traders who have used the tool. If a tool has mostly positive reviews and has helped other traders make informed decisions, it’s more likely to be reliable. All in all, no single software can be used as an example to justify reliability. However, depending on the kind of detail and insight provided by each is the key to success.

Advanced Options in Technical Analysis Tools for Stocks

For experienced traders, advanced features such as backtesting, alerts, and custom indicators can be very helpful. 

Backtesting allows traders to test a strategy using historical data. Alerts can notify traders of important market news and events. Custom indicators, on the other hand, can be tailored to a trader’s specific needs. They can help identify patterns and trends that may not be immediately apparent. 

By using these advanced options, traders can gain a deeper understanding of the market and make more informed decisions.

Recommendations for Best Free Tools for Stock Market Research

There are several options available when it comes to free technical analysis tools for stocks. Some popular options include:

  • TradingView
  • StockCharts 
  • MetaStock

Each of these platforms offers a variety of drawing tools, indicators, alerts, and more! However, we still recommend doing your due diligence before making a decision.

Free Technical Analysis Software with Buy/Sell Signals

If you are looking for software that gives you buy/sell signals, the situation is trickier than you might imagine. 

Firstly, these are not always reliable. If you don’t know what you’re doing and you’re completely relying on a signal, you might end up losing all your money! 

So if you’re looking for a shortcut — don’t. 

Even if you use a tool for buy/sell signals, always pair up the results with one of the aforementioned charting software. 

In other words, learn charting techniques and read about different indicators. Do the due investment research and follow the world economy. Understand buyer/seller behaviors before you completely start trusting such signals.

Keep in mind that indicators are different from buy/sell signals. 

Frequently Asked Questions

What are the most popular indicators used in technical analysis? 

The most popular indicators used in technical analysis include Moving Averages (MA), Relative Strength Index (RSI), Bollinger Bands, and Stochastic Oscillators. These indicators are commonly used to identify trends, measure momentum, and spot overbought or oversold conditions in the market. 

Can technical analysis be used for both short-term and long-term trading? 

Yes, technical analysis can be used for both short-term and long-term trading. Short-term traders often use technical analysis to identify short-term price movements and opportunities for quick profits (scalps). Long-term traders, on the other hand, may use technical analysis to identify long-term trends and patterns in the market.

Is it necessary to know programming to use technical analysis software? 

Not necessarily, many free technical analysis software options have user-friendly interfaces and do not require knowledge of programming. You will, however, need to understand how graphs work and how you can use them to your benefit. Knowledge of programming is only required if you are creating custom indicators or automating trading strategies.

The Takeaway

A stock analysis software’s value for a stock trader cannot be denied. It can help identify trends and patterns in the market. It’ll tell you when to set stop-loss and help you identify take-profit levels. 

In the end, however, we will still emphasize the importance of doing your own research. Learn and be patient. Time will teach you more than any technical analysis software. There is no such thing as a know-it-all in trading. You’re always learning new things! And with that, we’re at the end of this guide. Good luck!

01/23/2023 0 comment
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InvestmentsPersonal Finance

The Best Stock Market Memes Ever

by admin1 12/30/2022
written by admin1

When you think about the stock market and researching investments, there sometimes isn’t much to laugh about. But when it comes to the cultural shorthand, memes, about the stock market you can’t help but laugh¾or cry. Sometimes funny memes are personal to the creator and when shared they can come across flat, but with the following stock market memes, they’ll hit home for anyone who’s dealt in some stonks. Sometimes we all just need a laugh, even in times of despair, which is something we’ve all experienced.   

1. Spongebob Stock Market Meme

 We’ve all been there on those days in school where we weren’t exactly doing what we were supposed to be doing. But when it comes to the stock market, investors and traders know you have to be on top of your game:

best stock market meme spongebob2. Moon Stock Meme 

We all know that the path to the moon isn’t an easy one when it comes to the market…

funny stock market meme to the moon

3. The Word that Makes Memes Crash 

Flashing forward to a dreaded time when you hear a certain word and all the bad, bad memories come flooding back …

funny stock market meme word

 4. That Sinking Meme, Feeling You’re the Only Loser on the Stock Market.

Making or breaking your day knowing we’ve all been in each of their positions before …

funny stock meme elevator

 5. New Traders Get Eaten Meme

New traders don’t know what they’re getting themselves into. The vets on the other hand…

best stock market meme for new traders6. Stock Market Meme, Wishing On a Star

You wish it was as easy as wishing on a shooting star, but even the star knows it’s not…

stock market meme, wishing on a star 7. Moon Landing Stock Market Meme

You know things are rough when an astronaut on the literal moon refers to the investing on the stock market as risky…

funny stock market meme, moon landing

 8. Life Without Investing, Stock Market meme

What is life on the weekends without the stock market open? Incomplete …

stock market trader on the weekends, funny meme

9. Indicators? What Indicators? Funny Stock Market Meme

Indicators truly add some clarity …

Indicators, funny stock market meme 10.  The Side-eye Stock Market Investor, Funny Meme

 A crazy time we live in that with a click of a mouse, you can be making money…

 

 11. Sleight of Hand Stock Market Theme 

What are you even talking about if you’re not talking about stocks? This TikTok shows what it’s like… 

sleight of hand, Tom Green, stock market meme

12. Dumb and Dumber Investor  

Story of a stock trader’s life with this TikTok…

13. The World’s Most Interesting Investor, Stock Market Meme

 Only traders will understand this disappointment…

world's most interesting man meme, investing, stock market

 14. Losing Your Shirt in the Market, Meme

The everyday struggle of knowing where to put your money, or lose it…

losing your shirt stock market meme 

15. For Whom the Bull Tolls

Always a bull market with a bear waiting in the wings …

bear stock market meme

16.  Stumbling on Brilliance

Happens to the best of us, call it a happy accident…

happy accident stock market meme

17. As The Market Meme Turns

It’s what we’ve all been waiting for…

market turning up meme

  

  1. Soaking up the breeze of success…

earning your first 10 dollars stock meme

 

  1. You buy one stock and suddenly think you’re an expert…

buying your first stock meme

 

  1. Trying hard to keep it alive…

  tanking stock market meme

 

12/30/2022 0 comment
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best free stock market research tools
Personal Finance

Best Free Stock Research Tools

by admin1 12/14/2022
written by admin1

The best online stock research tools should find the information you need as fast as possible. If the stock analysis tool is free, you’re able to forgive some lag time, but there’s no reason to stick around the site if you’re not getting value.

Choosing Free Stock Research Software and Tools

With so many free stock research tools and software available to every investor to evaluate your portfolio, the choices can be overwhelming. While one site may seem like it offers the best features, it may not work the best for you. The good news is that all of the options mentioned below have free versions that allow you to try them out. Some you don’t require credit card into to take full advantage of all the capabilities and decide what works well for you. The best approach is to find a tool that offers the information you need in a way you can understand it.

Two factors to focus on when choosing the right tool are usability and real-time capabilities. Whether you’re trading full-time or just a beginning investor, these two capabilities will indicate whether the stock research tool is worth trying or not.   

Usability  

What’s the point of having free stock advice at your fingers tips if you don’t understand it and can’t use the research to help you? The charts, numbers and jargon in stock analysis sites can be intimidating, but many of the free tools make it easy to understand. The user interface is an important aspect to consider: You’re going to want navigation that’s simple and fast, so you are able to gather and utilize the information in real time.

Real-Time Stock News Capability 

Delayed stock market information can be worthless, especially when you need to make quick, informed decisions. In this ever-changing world and market, you need to see the latest news immediately. 

Best for Charting Stocks: TradingView 

TradingView offers free use of its stock charting, news, screening, scripting, backtesting, news, and watchlist. The software is available on mobile devices and desktops and features one of the largest collections of international exchanges. TradingView offers over 160 indicators, as well as several tools that aren’t available on many other platforms, including tools such as Gann & Fibonacci. The software offers new and scanning in real time, as well as a large social platform which offers forums and chats and a major trading community to connect with. The platform is fully usable for free, but the premium offers get you even more services and charts. 

Best for Stock Screening: FinViz 

Finviz offers stock screeners and financial visualizations for investors, including an S&P 500 map and a Forex screener. It also offers news that tracks trending businesses. FinViz’s free stock screeners can be found with many other software, however, Finviz’s screener is a little more in-depth. Its news aspect allows you to check out any articles or analyst predictions regarding the stock you’re looking at.  

Best for the Professional: Seeking Alpha 

Seeking Alpha is a major investing site that boasts a large investing community and many free tools to use for stock market research. The site reports current market trends in real time, all written by investors like yourself. The features offered by Seeking Alpha include stock charts, prices, and market commentary. However, the offers are limited. Seeking Alpha Premium and Seeking Alpha Elite open up opportunities for premium features and content.  

Best for Active Investors: Stock Rover 

Stock Rover is one of the best market research websites. The site offers analyst rankings and ratings, as well as market news, portfolio management, brokerage integration, and even provides expert feedback on your investments. The free version includes many features that aren’t typical with other free stock research software. Stock Rover also has several plans with an increasing amount of research included with the higher tier plan you choose. Stock Rover is best for active investors as it provides comprehensive research, so you know you’re making informed decisions when it comes to your investments.   

Best for the Novice: Wall Street Zen

Wall Street Zen is a market research site that makes the user experience as simple as possible, so investors can get more insight without confusion. The site employs a “Zen Score,” which analyzes several factors about a company, including forecast, performance, valuation, financials, and dividend. The Zen Score makes it easy for any investor to comprehend a site’s rating. Wall Street Zen is a solid place to start research and it’s entirely free to use.  

Best for Trend Analysis: TrendSpider 

The TrendSpider does a lot of work for you, making it a good option for those who aren’t full-time traders. The features include backtesting and analyst insights, as well as fundamental and real-time data. There are scanners built-into the site and TrendSpider allows you to customize your own scanner. The software offers a free trial, but after the trial period you have to pay for a subscription.

 Going Beyond the Free Version 

While the above software and sites are the best free tools for stock market research, they all offer premium versions. These premium versions vary in price, but they ultimately open up all the opportunities the software has to offer. It’s advantageous to utilize the free versions of these tools, and when something sticks, buying the premium versions will allow you to expand your capabilities.   

12/14/2022 0 comment
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Best stock market analysis tools and appspp
Dividend InvestingDividend Investment Portfolio

Best Stock Analysis Tools and Platforms for Beginners in Stock Market Research

by admin1 12/09/2022
written by admin1

The advance of stock analysis apps and tools has grown over the years. As it continues to grow, the effort to find the best out there, and the best for you, can be laborious. The many free tools and platforms can aid in a number of different goals. While some may require more knowledge on your part, others are made specifically for beginners. What you’re mainly looking for is an app that can be useful, reliable, and educational.    

What to Look For 

While it may seem obvious, it’s important to look for the best stock analysis software and tools that keep up with real time. While using a report from last year could help you to understand some things, it won’t be useful to your stock investments today. Fundamental and technical analysis are the two main stock research forms. These analyses work together to offer information on the performance and price action of a stock, allowing you to make the best decisions for your portfolio.   

Transparency 

The transparency of a platform refers to the readability of the interface itself, as well as the research. The point of the app or tools you use is to find actionable information, meaning being able to read, understand, and put into action what you’ve discovered. While an app that throws a lot of information at you can seem useful, if you can’t understand it then it doesn’t aid your portfolio at all.    

The Top Stock Market Research Platforms  

Stock Rover: Best Overall 

Stock Rover is an investment research and analysis tool that works for all type of investors. Its services are offered on both a web platform and through an app. Stock Rover’s user interface was designed with desktop users in mind, making it easy to learn and use. Stock Rover has top screening capabilities which makes it easy to find and rank stocks. The platform offers comparison features which evaluates trends, computes margin of safety and fair values, and scores quality, growth, value, and sentiment of companies. Alongside portfolio analytics, Stock Rover also offers advanced charting, stock ratings, alerts in real time, brokerage integration, earnings calendars, and many more capabilities. Stock Rover offers a free version of their software; however, their premium plan can offer many more capabilities at a competitive price.       

Seeking Alpha: Best for Stock Market Commentary  

Seeking Alpha is known for stock market news and expert analysis, but it also offers many more capabilities. Using a quant-rating system, the site streamlines research and financial metrics to allow investors to make investment decisions without wasting any time. Seeking Alpha could be especially useful to beginners because it’s made with investors who are looking to bypass their own analysis to make decisions. This is done through their authors who submit their articles and blogs which offer recommendations based on their own reports and research. The free version of this platform offers enough for beginners to get started. The paid version, Seeking Alpha Premium unlocks even more tools and articles.   

 WallStreetZen: Best for Fundamental Analysis of Stocks

This platform makes it easier for investors looking to make their own fundamental analysis. The stock analysis software gathers data and summarizes it to include the weaknesses and strengths of a stock. The Zen Score applies 38 due diligence checks to show the growth, value, forecast, dividends, balance sheets, margins, and cashflow of companies. WallStreetZen allows users access to recommendations from analysts with proven track records. While the free tools from WallStreetZen are useful, their premium software offers even more for investors to stay data informed.  

TradingView: Best for Technical Analysis of Stocks

TradingView offers their services through a desktop app and a mobile app. With an easy setup, this platform offers screening, charting, scripting, news, watchlists, and backtesting. TradingView also has a substantial community which allows for investors to connect with each other. The free version of this software has over 160 indicators, as well as fast charts such as LineBreak and Kagi Charts. The number of fundamentals available is expansive and the interface is easy to use. However, TradingView is a solid choice for its free features and their premium features expand its capabilities even more.  

 Scanz: Best Tool for Scanning Stocks

Scanz is a comprehensive scanning platform which is best for day traders and swing traders. This easy-to-use software allows you to scan the stock market in its entirety in a short amount of time. You can get access to real-time data and news as it’s happening. While pre-built scans are offered, you can also customize your own scans using different price, volume, technical, and fundamental variables. This platform offers its features for a monthly fee, but you can start a 7-day trial for free before committing.  

TrendSpider: Best for Stock Analysis 

TrendSpider technical analysis software offers scanning, screening, charting, alerts, pattern recognition, and backtesting. This analysis tool can work on any browser and offers comprehensive stock market analysis. The software is best for active traders and helps to make more informed and efficient trading decisions. TrendSpider also allows for anyone to turn any strategy into an automated trading bot and no coding skills are required. The software is easy to use and offers several plan options with a free trial offered with all of them.  

Finviz: Best for Everyday Market Overviews 

This free tool which offers a full stock market overview makes it easy to check market conditions with market data all on the same screen. The stock screener scans market performance statistics, fundamental metrics, and technical indicator signals. Finviz heatmaps display the stock markets of the US and even the world on a single page. It provides basic pattern recognition which makes it easy for investors. This software is wed-based so you can simply log in from anywhere without any installation needed. The free version gives access to the software, but the premium version, Finviz Elite, opens access to real-time data and even more flexibility.    

12/09/2022 0 comment
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student debt cancellation
Loans

What Student Loan Cancellation May Mean for You

by My Journey To Millions 08/30/2022
written by My Journey To Millions

With President Joe Biden still yet to announce his decision on the cancellation of federal student loans, millions of borrowers have grown anxious. Student debt has become somewhat of a crisis, with the ever-increasing cost of getting a college degree nowadays. The total federal student loan debt is currently sitting at around $1.6 trillion and affecting over 40 million Americans.

Biden is reportedly considering canceling up to $10,000 per person would remove roughly $250 billion of debt for struggling students. This student loan cancellation may be limited based on certain income thresholds. It is said that the cancellation may only be applicable to those earning less than $150,000 a year. Democratic lawmakers were initially aiming for a larger amount of debt relief per person, but Biden stated that he is not considering a $50,000 debt reduction.

While federal student loans account for the vast majority of loans, there are also students who have taken private loans from financial institutions such as banks. In the case of federal student loan cancellations, the federal government will be willing to shoulder the cost of the loans and lost interest. However, private loans are unlikely to be canceled and students would have to pay them back as they normally would.

For the millions of students drowning in student debt, a full or partial cancellation can go a long way in relieving them financially. For current students or even those who put their education on hold, any form of relief would allow them to become more financially independent. On the other hand, this would not solve the underlying issue and direct cause of student debt which is unreasonably high college tuition fees. Any student loan cancellation would provide a temporary solution for current borrowers, but future borrowers will also encounter the same issues with student debt.

Student loan repayments were temporarily paused during the pandemic but are scheduled to resume after August 31, 2022. This has put pressure on President Biden to come to a decision regarding student loan cancellations before the end of this month. Still, an official announcement has not been made yet and it is unclear whether students will have their loans canceled or not. If the debt cancellation is announced, borrowers can benefit from it by applying for the program on StudentAid.gov. This will help verify that they are eligible to receive the debt relief.

08/30/2022 0 comment
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