Introduction
Indian Stock Markets basically can be grouped into National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Indians are one of the most busy and passionate traders. The amount of analysis involved is huge and Indian traders are very selective when it comes to choosing the right platform for Technical Analysis. Technical Analysis has become very popular in India, rightly because of the many merits that Technical Analysis offers to traders, thereby reducing considerable amount of loses that traders used to incur without the advent and application of Technical Analysis. Technical Analysis of stock market is of paramount importance in modern times. And so there are many Technical Analysis Software's available in the market which proves to be very beneficial to the traders.
Different Software's for Technical Analysis
There are many software's available for real time technical analysis like Amibroker, MetaStock, Metatrader, Ninja Trader, Trade Station etc. All of them are very popular platforms for technical analysis. All of them have many specific specialties that has helped them in being a trader's first choice when it comes to performing Technical Analysis. Data from exchange is fed into these charting platforms where prices gets updated continuously. These software's have inbuilt mechanisms with the help of which they generate graph like chart which helps traders to keep a gauge on the movements. There are numerous pre-built indicators also to predict the pattern of the stock market movements. One very good website for custom indicators is www.livetradesystem.com where one can subscribe for custom Buy/Sell indicators which will make the work of traders even more easy.
Significance of Technical Analysis Software's
Technical Analysis software's are of high significance as it helps traders forecast market trends. The Technical Analysis software's are very sophisticated when it comes to performing real time analysis. They are equipped with highly efficient built in technical indicators and plug ins required for performing correct analysis of market data. But these Technical Analysis software's often comes with certain flaws. These flaws should have to be dealt with in order to get the accurate analysis. Technical Analysis has now become very vital for almost every traders, and analysts. However, there are some other very vital factors also that should be taken care of also such as Quality of Data used to perform analysis. Quality adds to perfection. Bad quality of Market data hampers analysis and may turn disastrous.
Software Simplicity- Traders should make sure that products that are being offered are simple, extremely user friendly, robust and also have good compatibility in even slow speed Internet. Choose a Service Provider that offers customer friendly products.
Problem solving and data recoverability- It is a very vital factor that should never be ignored. Besides all the customer friendly features that one has to look for, traders should also mind the fact that those software's should have good problem solving capability as well as Data Recoverability feature so that data is not lost in account of any technical issues. Back filling of Data and Recovery of lost data is very crucial for Stock Market Data.
Automatic Simultaneous Updations- Stock Traders and analysts are very busy during trading hours. It is very tough for them to separately select and update scripts. Softwares should automatically and simultaneously perform live Updations of Back filling and Real Time Data so that time is not lost.
Long-run stability and service- Many data providers emerge in market suddenly with sophisticated website to attract traders and general customers. Hence, they lack in quality and service and just vanish from the market all of a sudden. Traders and Customers needs to be aware of these unscrupulous Companies!
Thank You !
Indian Stock Markets basically can be grouped into National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Indians are one of the most busy and passionate traders. The amount of analysis involved is huge and Indian traders are very selective when it comes to choosing the right platform for Technical Analysis. Technical Analysis has become very popular in India, rightly because of the many merits that Technical Analysis offers to traders, thereby reducing considerable amount of loses that traders used to incur without the advent and application of Technical Analysis. Technical Analysis of stock market is of paramount importance in modern times. And so there are many Technical Analysis Software's available in the market which proves to be very beneficial to the traders.
Different Software's for Technical Analysis
There are many software's available for real time technical analysis like Amibroker, MetaStock, Metatrader, Ninja Trader, Trade Station etc. All of them are very popular platforms for technical analysis. All of them have many specific specialties that has helped them in being a trader's first choice when it comes to performing Technical Analysis. Data from exchange is fed into these charting platforms where prices gets updated continuously. These software's have inbuilt mechanisms with the help of which they generate graph like chart which helps traders to keep a gauge on the movements. There are numerous pre-built indicators also to predict the pattern of the stock market movements. One very good website for custom indicators is www.livetradesystem.com where one can subscribe for custom Buy/Sell indicators which will make the work of traders even more easy.
Significance of Technical Analysis Software's
Technical Analysis software's are of high significance as it helps traders forecast market trends. The Technical Analysis software's are very sophisticated when it comes to performing real time analysis. They are equipped with highly efficient built in technical indicators and plug ins required for performing correct analysis of market data. But these Technical Analysis software's often comes with certain flaws. These flaws should have to be dealt with in order to get the accurate analysis. Technical Analysis has now become very vital for almost every traders, and analysts. However, there are some other very vital factors also that should be taken care of also such as Quality of Data used to perform analysis. Quality adds to perfection. Bad quality of Market data hampers analysis and may turn disastrous.
Key Factors to judge the quality of Real Time Data -
Truly "real time data feed" - Quality of Real Time Data matters the most and is the primary when it comes to perform Technical Analysis. Data should be absolutely Real Time Data with negligible delay period to do the accurate Analysis. Choose companies that provides live demonstrations so that you can judge the quality of the Real Time Data.
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| How to choose the right Real Time Data |
Price- Price is also a significant factor determining which Real Time Data Provider to choose. But price should act as secondary factor after judging the Quality of Real time Data. Most companies nowadays are offering almost similar prices of their products delivering Real Time Data. So, price remains competitive in todays market.
After sales service. Many traders think that cheap rate means bad support. So traders should choose Service Providers that offer Prompt and Quality Technical Support Service. Companies like Rtdsdata.com has dedicated live chat support for 24 hours for any assistance thus making them even more popular among numerous Service Providers.
Software Simplicity- Traders should make sure that products that are being offered are simple, extremely user friendly, robust and also have good compatibility in even slow speed Internet. Choose a Service Provider that offers customer friendly products.
Problem solving and data recoverability- It is a very vital factor that should never be ignored. Besides all the customer friendly features that one has to look for, traders should also mind the fact that those software's should have good problem solving capability as well as Data Recoverability feature so that data is not lost in account of any technical issues. Back filling of Data and Recovery of lost data is very crucial for Stock Market Data.
Automatic Simultaneous Updations- Stock Traders and analysts are very busy during trading hours. It is very tough for them to separately select and update scripts. Softwares should automatically and simultaneously perform live Updations of Back filling and Real Time Data so that time is not lost.
Long-run stability and service- Many data providers emerge in market suddenly with sophisticated website to attract traders and general customers. Hence, they lack in quality and service and just vanish from the market all of a sudden. Traders and Customers needs to be aware of these unscrupulous Companies!
Thank You !
