Small crazy personal reminiscence on Investment and a great tool I (and you should) use – ChartNexus charting software
Investing has always been an interest of mine. My investment journey started 2 years back when it dawned on me that I should be making my money in my savings work harder for me, instead of just leaving it there to gather dust.
The interest rate the bank was giving me then was really pathetically puny (and it still is). But what to do? It is supposedly risk free (but not entirely. If the bank is to go bust, your savings go down with it). Therefore to compensate for the near zero risk, I’ll have to live with a low interest rate. Nothing I can really complain about.
Having enough of this, I embarked on a arduous journey where I locked myself in a dark cold room, determined not to come out until I mastered the art of investment. Years of sleepless night spent peering at investment sites and resources, as well as doing virtual and real trading has gone by, and I’m proud to announce that as of today, I’m still nowhere near ‘master yoda’ stage……YET.
It’s okay. No worries, I will reach there one day. Warren Buffett and George Soros, please watch your back!
Enough of this crap talk.
Anyway I’m a believer of integrating technical analysis into my investment methodology (with fundamental analysis). Technical analysis, in a nutshell, is the utilization and study of charting patterns and price movement from a stock chart, to make a calculated guess on how the stock price will move in future.
Technical analysis is no crystal ball or some magic technique. Understanding investor psychology is a hugely important aspect in the art of investment.
Technical analysis allows us to study the herd mentality, popular crowd sentiments and it’s emotional influence on the stock market through the analysis of the chart. With technical analysis, we can easily see the supply-demand picture.
To get into some serious technical analysis action, a good charting software is essential for starting off. Many of my online brokerages come with charting features, but none really met my expectations.
Chartnexus is one charting software that really blew me away. I’ve been using it since its birth and I got to say that it is a fantastic charting software that is everything I ask for.
It is intuitive, appealing to the eye, and very importantly, simple and easy to use. For example, Price and volume analysis is a rather important part of my technical interpretation of a stock price movement. The color coded volume bar makes my task my so much easier when it comes to recognizing distribution and accumulation of shares.
The stock selection bar is rather idiot proof, and it makes the selection of a stock or index for analysis a breeze. I’ve got no problem tracking my favourite stock.
As with many other charting softwares, there are many common indicators such as Bollinger Band, Moving Averages and MACD built in. In addition, there are also indicators that I’ve never ever heard before, of one which is the fancy sounding ‘Ichimoku Kinko Hyo’. Hmmm…what the hell is that?
Chartnexus also enables me to do my own drawing on the charts, as well as recording of notes, and these features help me tremendously in my analysis.
There are much more features I can list, but I guess it is best for you to download and try it out for yourself. I’ve to say that their paid add-on XpertTrader candlestick modules look great as well, but I did not subscribe to it as I don’t really trade. I’m more of a long term investor.
Before I forget, this software not only allows me to analyse the Singapore market but also Bursa Malaysia and the various US markets (AMEX, Nasdaq and NYSE). It’s really wonderful!
Oh yes one more thing, their support is very friendly and open. Kudos to them!
I shall leave you with some saved chart analyses I did some time back.
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