“Technical Analysis” refers to the use of charts to determine potential trade setups, entry and exit strategies (resistance/support), price patterns that point to profitable trades allowing you to track investor’s fear and greed or the market forces of supply and demand.
The first step is to obtain charting software. There are many chart software programs available on the market. Some of which are free and some which cost several thousands of dollars.
Please note that we are not “day traders.” Our methods look to identify large moves over a somewhat longer period of time (relative to options trading). I am unsure as to the profitability of day trading although I am sure there are many who swear by it. In my opinion it does not lend itself to a sane trading method. Again, very closely related to gambling.
The following are free internet technical analysis software programs. Chart software programs are also usually available through most brokerage web sites when you open an account.
http://www.bigcharts.com
http://www.clearstation.com
http://www.stockcharts.com
