Hello everyone,
The following is a list of ten or so websites which I believe are great for charting and analysis. Look through the list to find some websites to explore over the summer, especially if you are planning to place some trades. I have divided the list into two “tiers” which best suit different types of traders:
Tier 1 – This tier best suits the personal trader who just started and is looking to place his first trade. With a friendly UI and mostly basic functions, these websites are designed for amateurs who still make statements such as “I own 5 stocks of Apple.” Although almost everyone uses the charts at this tier, the functions found within them are usually primitive and only useful for basic market analysis. The most advanced platforms in this tier are free. Tier 1 includes:
- Yahoo Finance (Basic functions, clean UI. One of the most commonly used sites.)
- Google Finance (Basic functions, clean UI. One of the most commonly used sites.)
- Bigcharts.marketwatch.com (Ugly. Just the bare minimum of what is needed on a chart.)
- Nasdaq.com (More advanced than the rest, with pleasing graphics.)
- StockCharts.com (More advanced than the rest, but the interface is not as pleasing as Nasdaq.)
Tier 2 – This tier better suits more experienced and advanced personal traders. Users of the higher tier charting sites are looking for more complex trends in stocks and are looking to place complicated trades based on heavy technical analysis and seasoned personal strategies. Most experienced personal traders will fall into this category. Along with traders, bankers and brokers will also more frequently use the charting tools at this level rather than the ones I listed in tier 1. The UI of some of these sites is overwhelming for most beginners and many functions are for advanced strategies and trades. Keep in mind that some of the platforms listed below are not free. Tier 2 includes:
- FINVIZ (Probably one of the top free “tier 2” options available.)
- TradingView (Overwhelming UI for most beginners, but very useful to experienced traders.)
- TD Ameritrade “ThinkorSwim” (A little complicated, but a diamond in the rough with great potential for use.)
- MetaStock Trader (Extremely popular, with great features. Paid account required.)
- NinjaTrader (Includes a “trade simulator,” amongst its extensive features. Paid account required.)
Remember, there are dozens of stock charting tools all across the internet. Hopefully this list gives you a great starting point in finding your bread and butter in the world of personal finance.
Happy Trading!
– Aabhash Gautam