Trading directly from charts - small caps ASX

[Chamberskob]

Hi all I signed up to ASF's because I am having great difficulty finding a trading software package that lets me click buy and sell orders onto/from a chart? Also known as chart trading I believe.
I have watched many YouTube videos that can do this for US stock markets but can't find one that will work in Australia for stocks (not forex or options) I trade small caps mostly (asx)


I am also interested in what software people can recommend in general that is an all-in-one suite that has extensive charting, scanning and the ability to brokerage at the same time.

Any advice is welcomed
Thanks!

 

[Joules MM1]

!

http://www.ampfutures.com/

 

[Chamberskob]

!

http://www.ampfutures.com/

thanks for the link does this do small caps or just futures?

 

[tech/a]

Interactive Brokers
About 12 k to open an account

 

[skcots]

Prorealtime might be worth looking into. I believe it links into Interactive Brokers and some other broker for the actual trades.

 

[skc]

IG DMA has that functionality I believe. But it's CFDs and trading small cap CFDs can be dangerous if you don't have disciplined risk management.

Also... depending on what you mean by small caps: trading from the chart might not be the best thing to do. This is because there are lots of low-value stocks (<20c) in the small cap space and each tick represent meaningful percentage changes. For example, buying something at 10c vs 10.5c is only 1 price level but 5% in share price.

There will be times when you should hit 10.5c and there will be times when you should sit in the queue at 10c and wait for a better fill. You can't make that decision with charts alone. You will need live market depth.

 

[Kingofclubz]

Chances are we have come across the same educational material as I have posed this same question myself on other forum. The challenge faced with ASX trading (small caps in particular) is you need the volume plus ASX is so small in comparison that finding that 1 trade per month that ticks all the boxes Vs finding 3-4 trades per week on US market just because of size alone is why I haven't even considered trading on Aussie market.


I can see how the resources boom may have provided big trading opportunities, but apart from that I have not come across any traders killing it from Australia, The Aussie market in my novice eyes is more a solid compounding returns investment vehicle with dividends etc as opposed to a traders market. I hope I'm wrong? I would love someone to show me where my observations are flawed as trading in my backyard would be my first preference.

Feel free to drop me a PM if you'd like to connect and swap notes.

 

[Chamberskob]

Chances are we have come across the same educational material as I have posed this same question myself on other forum. The challenge faced with ASX trading (small caps in particular) is you need the volume plus ASX is so small in comparison that finding that 1 trade per month that ticks all the boxes Vs finding 3-4 trades per week on US market just because of size alone is why I haven't even considered trading on Aussie market.


I can see how the resources boom may have provided big trading opportunities, but apart from that I have not come across any traders killing it from Australia, The Aussie market in my novice eyes is more a solid compounding returns investment vehicle with dividends etc as opposed to a traders market. I hope I'm wrong? I would love someone to show me where my observations are flawed as trading in my backyard would be my first preference.

Feel free to drop me a PM if you'd like to connect and swap notes.

Thanks to everyone for their feed back on my question. I have next week off so will endeavour to do some more research on the matter then.

@Kingofclubz you raise some interesting points and I would like to message you also.

Best of luck to everyone in your future trades.

Chambers