TradingView is a social network for traders and investors on Stock, Futures and Forex markets!
What is TradingView?
TradingView is online stock-picking software and screener for both beginners and experienced active traders. It incorporates extensive cloud-based charting tools for research and gives users the ability to share and collaborate with other active traders online. The downside is that most large brokerages are not yet directly integrated with TradingView, so you’ll have to place trades separately with your brokerage of choice.
Users can learn new concepts, research market fluctuations, possible chart outcomes, collaborate with other traders, chat, ask questions, and practice trades with the TradingView platform on any device.
What is TradingView Used For?
TradingView lets you discover investment ideas and showcase your talents to a large and active community of traders. Freely discuss, share, and learn with thousands of market participants using TradingView. Get better at trading and investing by seeing what others are doing.
Easy and intuitive for beginners, and powerful enough for advanced chartists — TradingView has all the charting tools you need to share and view trading ideas. Real-time data and browser-based charts let you do your research from anywhere, since there are no installations or complex setups.
Just open TradingView on any modern browser and start charting, learning, and sharing trading ideas! Read more about our broad range of chart features.
Below that, you’ll find the newest stories by top authors, up-to-date market summaries, the latest stock news, an economic calendar, and trending charts on the TradingView social media section. Read what other users (including high-profile traders) have to say, and share your trading ideas. The social media aspect of TradingView adds huge educational value.
When you sign up for a free account, you’ll have access to the TradingView community and basic charting features where you can create stock alerts and market indicators.
Can You Trade on TradingView?
TradingView is a powerful stock screener, charting platform and research powerhouse providing a massive range of tools investors can use to learn more about the markets. Some of TradingView’s most impressive features include its fully operational mobile app, wide range of screening criteria, custom script incorporation and much more.
In addition to charting and research tools, TradingView also offers a wide range of educational tools. View news feeds associated with each asset, read articles, view real-time market data and even watch livestreams with professional traders to improve your skills. Paper trading accounts are also available to help you master TradingView’s wide selection of tools.
Although TradingView’s content can be overwhelming for newer traders and investors, the platform remains among the most impressive research hubs on the internet.
How To Trade Stocks?
If you’re trying your hand at stock trading for the first time, know that most investors are best served by keeping things simple and investing in a diversified mix of low-cost index funds to achieve — and this is key — long-term outperformance.
That said, the logistics of trading stocks comes down to six steps:
Open a brokerage account
Stock trading requires funding a brokerage account — a specific type of account designed to hold investments. If you don’t already have an account, you can open one with an online broker in a few minutes. But don’t worry, opening an account doesn’t mean you’re investing your money quite yet. It just gives you the option to do so once you’re ready.
Set a stock trading budget
- Invest only the amount of money you can afford to lose.
- Don’t use money that’s earmarked for near-term, must-pay expenses like a down payment or tuition.
- Ratchet down that 10% if you don’t yet have a healthy emergency fund and 10% to 15% of your income funneled into a retirement savings account.
Learn to use market orders and limit orders
- Market order: Buys or sells the stock ASAP at the best available price.
- Limit order: Buys or sells the stock only at or better than a specific price you set. For a buy order, the limit price will be the most you’re willing to pay and the order will go through only if the stock’s price falls to or below that amount.
Practice with a virtual trading account
There’s nothing better than hands-on, low-pressure experience, which investors can get via the virtual trading tools offered by many online stock brokers. Paper trading lets customers test their trading acumen and build up a track record before putting real dollars on the line.
Measure your returns against an appropriate benchmark
This is essential advice for all types of investors — not just active ones. The bottom-line goal for picking stocks is to be ahead of a benchmark index. That could be the Standard & Poor’s 500 index (often used as a proxy for “the market”), the Nasdaq composite index (for those investing primarily in technology stocks) or other smaller indexes that are composed of companies based on size, industry and geography.
Keep your perspective
Being a successful investor doesn’t require finding the next great breakout stock before everyone else. By the time you hear that XYZ stock is poised for a pop, so have thousands of professional traders and the potential likely has already been priced into the stock. It may be too late to make a quick turnaround profit, but that doesn’t mean you’re too late to the party. Truly great investments continue to deliver shareholder value for years, which is a good argument for treating active investing as a hobby and not a Hail Mary for quick riches.