So you’re new to trading and have no idea where to start. You don’t even know what platform to use.
Don’t worry! We’ve all been there.
Over the years I have used many platforms. Some decent, some terrible, and some are great. But in my opinion there is one that stands out as the best trading platform, especially for beginners: Tradingview.
Tradingview has an awesome clean look and is easy to use, and they offer a free plan which is just fine. The only drawback to the free plan, is you have to deal with ads popping up every few minutes. But, just hit the “X” real quick and the ad is gone.
So lets dig into what Tradingview offers, shall we?
First off, the free account comes with paper trading as well. Paper trading is simply a simulated account; fake money, real market. GREAT for practicing.
Their tools are easy to find and use.
The tool bar sits on the left side of the screen. Notice all the options? Not only that, but each one, when clicked on, shows a sub menu, like this:
So there’s no shortage of charting tools.
Another cool feature is the “Favorite Drawing Tools Toolbar.”
Here, you can click the little star on whatever drawing tool you’d like (as seen in the above image), and it will show on a handy little tool bar that you can drag around the chart. Here are my favorites:
You can customize your “time” bar up top as well.
The time bar is simply where you put your favorite time frames for charting. There’s really only 4 on there that I use, but I’m too lazy to change it. Lol! C’mon, we all can’t be perfect.
Notice to the right of the pic there is a bunch of “stuff” to click on. This is where the watchlists are. Yes, you can create your own watchlists, but you are limited in how many with the free plan.
Now for all those little icons you see to the far right, from top to bottom:
- Data Window (OHLC for whatever ticker you’re looking at)
- Hot Lists (where you can look at gainers, losers, etc for each index, among other “things”)
- Economic Calendar
- My Ideas (if you post in the Tradingview community, your posts will show here)
- Public Chats
- Private Chats
- Ideas Stream (when people you follow post an idea, it will show here)
- Order Panel (if you have a broker that allows trading through Tradingview)
- DOM (Depth of Market)
As you can see, there’s a lot.
I used to post in the community quite frequently, but now I just get on there to do my thing and get off. It’s such an easy platform to use, and I use it more than any other platform.
There is a free version, and then they offer 3 subscription services: Pro $14.95, Pro + $29.95 and Premium $59.95
Honestly, I just use the free one. I had the Pro subscription for a long time, but realized for me it wasn’t worth it. The only thing that I miss with the Pro subscription, is the ad free charts. But, like I mentioned earlier, they only pop up every few minutes. Just click the “X” and it’s gone.
For beginners, I really think this is a great platform. It is so easy to use.
Depending on what broker you have, you can also trade straight from the Tradingview platform. Personally, I don’t have a broker that has a Tradingview option. I just use the platform for most of my stock analysis and some of my futures analysis.
Anyway, if you’re looking for a platform you can learn on, back test on, and just overall get your feet wet with, then I would strongly recommend the free Tradingview. It’s very hard to beat!
WARNING/DISCLAIMER: Investing and trading carry significant financial risks. I am not a licensed financial or investment adviser. Nothing on dumbmoneytrader.com should be considered financial or investment advice. Everything on dumbmoneytrader.com is for educational purposes only, and should NOT be considered advice. Consult a professional financial or investment adviser before making any financial decision. Never enter any investment or trade without consulting a professional and licensed financial or investment adviser. Never enter any investment or trade based on anything you read or see here on dumbmoneytrader.com.