One of the main reasons that people suffer loss in the stock market could be an inability to use charts to make the correct trading decisions.
Charts are easy to understand and help traders interpret data at a glance. Moreover, EOD & Live Charts in Spider Software are unbiased and come directly from the source, which means there are no chances of misinterpretation or alteration from anywhere.
Charts are the fastest and easiest source to let you know about a particular stock and its market behaviours. Although, when you’re entering the market charts alone are not enough but helps you significantly cut time and effort when it calls for quick decision-making situations.
Charts contain the complete historical background about a particular stock and help traders in predicting the financial activity of the stock in the future. A professional trader can certainly temper financial trading decisions by using a Chart system but for those who use it in isolation; they miss out on its full potential.
For instance, we all know that higher highs and higher lows mean a rising market. The trend is upwards. By properly analysing these charts, various decisions and strategies can be formulated to help traders to be at front at all times.
Usually, trading charts & graphs are used to mark market trends and entering the market without analysing the Technical background of the stock would be nothing but gambling your investments over a highly unpredictable and highly volatile market.
Various traders have their way of using Charts but few uses, every trader can easily use is analyse the price of stocks, rising and falling volumes, support & resistance levels etc. Because traders can’t memorise entire data, trend of all stocks but Charts contain & show the entire data. These Charts and Strategies are definitely dependable indicators of all the factors that affect the market.