For Traders and Investors There Is No Substitute for Stock Charting Software

For Traders and Investors There Is No Substitute for Stock Charting Software

If you are active in stock market trading or investing and you are working without a stock charting software tool then you are making life difficult for yourself. You may also be missing opportunities. Sure, working on the fly with a few simple online tools or Excel spreadsheets does have its appeal but when you get right down to it there is only so much you can do when you work this way. Today’s stock charting software is both powerful and sophisticated. It allows you to take full advantage of accurate historical trending data and you can monitor the market in real time.

You may have even taken a peek at some of the stock charting software that is out there and realized that deciding which one to select is a big decision. It is. You have to decide whether you want to go the free route and download one of the many stock market charting software packages that is shareware or if you want to jump in with both feet and pay for one of the commercial packages. No, it’s not an easy decision. Having said that, once you do decide to take the plunge you will find that stock charting software allows you to take your analysis to an entirely different level.

So which is best the free packages or the pricey analysis programs. The answer is both. It all depends on what your goals are and what you intend to do with the package. For some people a free stock market charting software package will be perfectly adequate while for others a full blown professional commercial package will be necessary. You just need to think about your requirements and then begin looking at what is available.

One of the first things you need to think about is what type of data you need to track. If you are monitoring multiple segments of the financial services industry such as Forex, options, commodities, and stocks then you will need a more full featured analysis program. This is the case with geographic markets as well. You want to make sure that whatever stock charting software you select has the capability to handle all your requirements.

The effectiveness of stock charting software is dependent on the data that you load into it. Your package should have the capability to handle industry standard data. At the same time you want to make sure that your database can be updated without too much intervention by you. The last thing you want to be doing is manipulating your database everyday to make sure your data is up-to-date.

Whether you are leaning toward using a free program or purchasing a commercial program, be sure to take advantage of trial opportunities and tutorials. Before you make a full commitment try out the features you think you will use the most and put the program through its paces. You will be able to eliminate some software packages right off the bat. At the end of your analysis you should have a manageable short list of programs to explore.

Oracle traders offer a fresh approach to help you reach your financial goals. We are an Australian based company offers the following products: metastock, metastock Australia , Metastock data, stock charting software and stock analysis software

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Forex Quotes For Website – Accurate Currency Quotes For Forex Traders

Forex Quotes For Website – Accurate Currency Quotes For Forex Traders
Forex Quotes For Website

There are seven major currencies in the modern forex market. Abbreviated with 3 letter codes, the major traded currencies are the; EUR (European Euro), GBP (United Kingdom Pound), USD (US Dollar), AUD (Australian Dollar), JPY (Japanese Yen), CHF (Swiss Franc), and CAD (Canadian Dollar). When these currency quotes are displayed on the forex market, they are expressed in units called currency pairs. The commonly traded pairs, known as the majors, are; EUR/USD, USD/CAD, GBP/USD, USD/JPY, USD/CHF, and AUD/USD.

Currency pairs explained

A currency pair looks something like USD/EUR=0.6871. The first unit, in this case the US Dollar, is called the base currency. It always has a value of one. The second unit, called the quote currency, is the value that changes. The number listed is the amount of the quote currency it would take to buy one unit of base currency. In the example above, one US Dollar could be purchased with 0.6871 Euros. These quotes are the centerpiece which the forex market revolves around. Forex Quotes For Website

Should the currency quote above switch so the Euro were first, the pair would look something like EUR/USD=1.4563, or $ 1.4563 for a single Euro. Getting the pair in the right order is important, otherwise an investor could be in for a shocking financial loss. When the currency quote price rises, it shows that the base is strengthening. A decrease in the quote price shows a weakening currency. Quotes are not absolute. The strength of a currency is relative to another. While the Yen may be weakening to the Euro, it could be strengthening when compared to the Franc. The relativity of money is what makes the forex market so appealing.

When viewing currency quotes, an investor will see two values. They will show the bid price, what the buyer will pay for the base currency, and the ask price, the rate a seller will sell the base. The difference between the bid price and the ask price is called the spread. The spread must be factored into a trade to determine the financial gain or loss of a trade. The bid/ask price will look something like EUR/USD 0.6871 0.6893.

Many factors determine the price of money. The interest rate, inflation, and even the political stability of the issuing countries affect the strength. Government intervention can also affect the values. Flooding the market with currency will lower the price, while buying it up will increase the price. Overall, governments can’t completely control the value of money. The flow of the market will ultimately determine the currency quote values. The dominance of the free market makes investing in forex a fair investment medium. The governments can’t fully influence the market, ruining the trading systems investors have developed to turn profits in the foreign exchange market. Forex Quotes For Website

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