Techncal Analysis Software?

Question

Does anyone know if technical analysis software works good for predicting the stock market and can some one recommend me some softwares ?

Answer 1

I am not aware of any good software programs.

Price, volume, and chart is all you need. The key is to interpret them correctly.

Answer 2

Getting educated on how to interpret a chart and knowing how to read financial reports/statements are 2 major challenges any trader will have to face in order to be successful.

There are too many variables and factors beyond the software developers to create a complete software. So in this instance, if the software is good in one part, it may not be good at another on the interpretation. In the end you will be skeptical on the readings.

The software would not tell you to buy or sell and make easy money every time. Even if it could prove 6 out of 10 times of accuracy, it is considered very good. I doubt there is a consistency like this!

I have not come across any successful traders who utilize software alone to trade. Otherwise they wouldn't need a team to do research for them!

If you are trained to spot opportunities for any trade, together with the skill you have accumulated over the years and with the above said knowledge, you will be able to execute good moves during the fear period. And that's where the real meat are found.

Answer 3

Technical Analysis is a skill. Software that picks stocks is a rip off.

Trading is 25% picking the right stocks and the balance is;
Money Management
Understanding investing psycology.

Answer 4

I think technical analysis can be useful. I use it find stocks that are breaking out of a trading range and to determine whether a stock is overbought (bearish) or oversold (bullish). You don't necessarily need to buy technical analysis software. You can find many free technical analysis tools and even free scans for bullish and bearish patterns at this site: http://stockcharts.com/index.html
The site contains a great deal of educational material to get you started in technical analysis.

Answer 5

I can't comment on trying to predict the stock market :) . But for doing technical analysis, Confidant for iPad is a good choice. It allows you to backtest for patterns, ideas, trends, etc., see how often they occur, and see how profitable they could be.

Answer 6

No buy, sell or hold recommendations.

IF you'll make me one of your contacts and send a request, I'll be happy to share the names of the software we have - at no charge.

I KNOW if I mention the software in this forum, I'll be reported ASAP.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

Answer 7

Technical Analysis is great for logical probability calculations, but stock prices don't rely on mathematical probability. They rely on investor psychology.