hi friends,
i am a novice trader . earlier i used to trade on the market for 2 months randomly and in a 'hope for the best' mode. As of this month i read Saint's "teach a man.." thread and traded a stock of sun tv which i shorted at 372 on 16th and squared it at 355 making a profit of 17 rs on each share and total profit of 1700( as i had dealt 100 shares). So far so good. Now i have read the thread completely and think i can follow trends at least if not patterns.
my question is this-
on nse India there is a page--
http://www.nseindia.com/content/equities/niftysparks.htm
as you can see it shows the intraday on the left along with the yearly pattern and monthly pattern on the right side. Can i recognize the short term (1 week- 10 days)trend based on these factors? i.e can i trade using the above chart's help? i think it is possible as it will give a good idea of the trend.
My other question is that i have observed that many traders on the forum use softwares like meta, ami etc to trade. I am just in the learning phase still now so can i trade without the use of such softwares?
i am a novice trader . earlier i used to trade on the market for 2 months randomly and in a 'hope for the best' mode. As of this month i read Saint's "teach a man.." thread and traded a stock of sun tv which i shorted at 372 on 16th and squared it at 355 making a profit of 17 rs on each share and total profit of 1700( as i had dealt 100 shares). So far so good. Now i have read the thread completely and think i can follow trends at least if not patterns.
my question is this-
on nse India there is a page--
http://www.nseindia.com/content/equities/niftysparks.htm
as you can see it shows the intraday on the left along with the yearly pattern and monthly pattern on the right side. Can i recognize the short term (1 week- 10 days)trend based on these factors? i.e can i trade using the above chart's help? i think it is possible as it will give a good idea of the trend.
My other question is that i have observed that many traders on the forum use softwares like meta, ami etc to trade. I am just in the learning phase still now so can i trade without the use of such softwares?