One of the value added insight that CashCow offers into your Trading activity is the facility of intraday charting. Here we are referring to technical analysis. Technical analysis is based on the premise that market movementsare all about patterns and these patterns tend to repeat themselves. Therefore by studying past patterns, one can reasonably extrapolate the future. That is the essence of technical analysis and intraday charting is a part of technical analysis. But, why is intraday charting so important?
First, a word on intraday trading…
Ever since the Indian markets shifted to T+2 rolling settlements in the year 2001 there has been a sharp spurt in intraday trading. In the old structure, traders could keep their positions open for up to 5 trading days and also carry forward after that. Rolling settlements finished that system as all trades not squared up intraday had to be settled on T+2. On the positive side, it also gave a fillip to intraday trading. When you trade intraday you either buy in the morning and sell before close of trading or your short sell in the morning and cover your position by end of the trading day. Since there is no delivery, intraday trading does not impact your demat account in any way.
How does intraday charting help?
The key to intraday trading is intraday charting. When you trade intraday, you obviously cannot be taking a long term delivery view on the stock. You have to look at momentum and trade with momentum on your side. That is where pivot points come in handy. With the help of pivot points in intraday charting you can trade the market both ways on the same day. Effectively, you become indifferent to the direction of the market. These intraday charts are based on a large amount of in-built empirical intelligence, which helps you make better decisions in the market.
CashCow and the power of intraday charting…
When you log in to your CashCow trading account, you can have the benefit of a variety of intraday charts. You can, of course, use the commonly used pivots to trade the markets both ways. The CashCow intraday charting facility helps you to check the supports and resistances for every stock and also for the index. That is a great advantage when you have to decide the trade-initiation price, the stop loss and the profit targets. Another very important intraday chart facility on the CashCow platform is the facility to use a variety of moving averages for different period combinations. These moving averages are very useful in telling you whether certain break-out trends are genuine or they are plain deceptive. The charting process is quite simple and menu driven and that means you can easily apply the charts yourself to get that additional insight into your stock or futures position.
Remember, all these intraday charting advantages come to you with zero brokerage. Additionally, these charts are directly linked to “Call-to-Action”, which means you can chart and also execute the trade with one swipe and click.
CashCow is available for free download on Google Play and the entire software has been kept very light and simple so as to facilitate easy download and also easy navigating even for first time users.