I'm new to local stocks day-trading, but more familiar with FX. I just need to clarify certain matters in stock day-trading:
1) In FX, MT4 is a pretty common software offered by brokerages to retail traders for doing their own charting and placing orders. In stocks, I suppose charting is done separately on Yahoo! Finance, Chartnexus etc. and then you place orders in your brokerage account, is that correct? What is a recommended charting platform or software?
2) Stocks are meant to buy, hold and then sell (release shares from your hands). But short-selling to profit from price fall is a different animal together, is that correct? I read that it carries more risk and thus is discouraged. So it's not like FX where you go long or short conveniently.
3) SGX price charts don't update by the minute but only with end-of-day data, is that correct? That means it only makes sense to trade on daily timeframe.
Blog: How to Start Stocks Trading?
2018-04-14 20:19 | Report Abuse
Hi Chungfung,
I'm new to local stocks day-trading, but more familiar with FX. I just need to clarify certain matters in stock day-trading:
1) In FX, MT4 is a pretty common software offered by brokerages to retail traders for doing their own charting and placing orders. In stocks, I suppose charting is done separately on Yahoo! Finance, Chartnexus etc. and then you place orders in your brokerage account, is that correct? What is a recommended charting platform or software?
2) Stocks are meant to buy, hold and then sell (release shares from your hands). But short-selling to profit from price fall is a different animal together, is that correct? I read that it carries more risk and thus is discouraged. So it's not like FX where you go long or short conveniently.
3) SGX price charts don't update by the minute but only with end-of-day data, is that correct? That means it only makes sense to trade on daily timeframe.