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Online Trading Charts

How to read trading charts

Online trading is the easiest kind of financial investment, but even with this type you require some extra knowledge to be more successful than the average fellow. For this reason we will look into best online trading indicators as one of the means to improve your profit ratio and to make you a more profitable trader.

Many respectable brokerage companies provide you with free online trading charts that show movement of an asset throughout time. They are usually subdivided into yearly, monthly, weekly, daily, hourly, 15 minute, 5 minute and 1 minute online trading charts. Depending on your strategy, whether it is long-term, medium-term or short-term, and the data you use for analysis traders can use any of the above or a combination of them.

Benefits of the trading charts

For instance, if you base trade on the latest news, you should employ short-term charts, such as 1 and 5 minute. But if your online trading investment is in a long-term sphere and you stake on company's growth over time than you should follow monthly and yearly online trading charts.

As online trading is a simplified way of trading, you will not find any online trading charts with the majority of brokers. But I highly advise you to have a look at Metatrader 4, which provides free of charge live data and free online trading charts tool to give you better chances at making a correct decision.