Complete system (broker/charting software/data) suggestions

[grah33]

Hi everybody,


I would like to trade stocks online and there are so many choices available. To do what I want I belive I need the following:

broker
charting software for technical analyses
data feed



I would like to save money and not spend much (at least in the beginning). also, i'm interested in any free setups as well, or part free setups. any suggestions (both low priced and free) of what my options might be? I'm looking to learn the skills so i can trade frequently, rather than long term investing. perhaps the main brokers offer all parts together discounted?

thanks again everyone.

 

[luutzu]

Hi everybody,


I would like to trade stocks online and there are so many choices available. To do what I want I belive I need the following:

broker
charting software for technical analyses
data feed



I would like to save money and not spend much (at least in the beginning). also, i'm interested in any free setups as well, or part free setups. any suggestions (both low priced and free) of what my options might be? I'm looking to learn the skills so i can trade frequently, rather than long term investing. perhaps the main brokers offer all parts together discounted?

thanks again everyone.

You know you could still trade following the "value, long term investing" approach? You just study the company, know its approximate value, then when the bargain is available you buy and when it get too expensive or when other opportunities are better, you sell.

Long term, value investing does not mean you buy and then wait for the business to grow to then make money. It simply mean that you tend to hold onto it because it takes a lot of work to find good businesses, and very very hard to buy them at bargain prices, and because good businesses tend to be more valuable as time goes on... that you tend not to want to sell.... that and things tend to be cheap because it's out of favour or due to some negative but minor or apparently big but actually insignificant news and these could take some time for the market to see... that and you could also be wrong, or right at the time but the future didn't work out so well (haha... I seriously am not trying to speak out at both ends).

But if you want to trade and get in get out for quick profits... it's a game most of us do not have the tools or the resources to gain that edge against the big brokers and traders, or against the smaller but much more experienced people out there. And when you're a little wombat trying to cross the freeway... you know... capitalists are not as nice as your typical driver - drivers would try to avoid roadkills (dirty and damage their car) while the others are out looking for their big and little Alan Bonds.

As my mother said, money can buy everything except knowledge. Knowledge is different from data.
If you know enough about a handful of companies, you could do pretty well trading among them when the opportunity presents itself. The rest of the time you could sleep and rest better.

Anyway, just my two cents...

 

[systematic]

I probably shouldn't even post, on two counts (not my domain of current experience, and I'm tempted to ask questions about trading education); but I'll simply stick to your actual question.

Have you checked out CMC markets or Commsec? They have respectively won money magazine awards for best cheapest online broker and best featured broker. CMC has the cheaper brokerage, and they definitely do charts and data. So they might be one of your cheapest options to do what you're asking. Just mentioning in case you hadn't heard of them.

Also, for a non-brokerage option, incredible charts is a popular option as a cheap charting program (dont take the free option). if you only wanted ASX end of day, it's like less than $10 a month from memory. They use data from SIX financial. Then you'd just need to find a cheap broker.

Good luck.

 

[Wysiwyg]

Looks like most of those concerned about your wealth fare are not posting. Live stock market data you will have to pay for in some way either by number of trades per month or subscription and CFD brokers are where most inexperienced traders start. They have it all.

And when you're a little wombat trying to cross the freeway

Saw an echidna run over today and thought it hard to believe anyone could not see it and help it off the road. Plenty of dumb humans out there.

 

[CanOz]

Hi everybody,


I would like to trade stocks online and there are so many choices available. To do what I want I belive I need the following:

broker
charting software for technical analyses
data feed



I would like to save money and not spend much (at least in the beginning). also, i'm interested in any free setups as well, or part free setups. any suggestions (both low priced and free) of what my options might be? I'm looking to learn the skills so i can trade frequently, rather than long term investing. perhaps the main brokers offer all parts together discounted?

thanks again everyone.

Pretty hard To go past interactive brokers as they have basic charts, a scanner, as well as the cheapest brokerage on the most markets. Once you become more advanced, they now offer multicharts as well....

 

[grah33]

thanks for the suggestions. won't be long before i get the stuff going.