Trading Tool Comparison: Technical Charts – Free vs. Paid



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The trading world is filled with tools, brokers, platforms and a variety of other services. As a beginner day trader who is looking to learn and get started, the challenge of preparing to make money can be overwhelming from the start. One of the most important tools you will need in order to build a day trading strategy that makes you money are technical charts. These are a fantastic way to ensure you are thinking logically as a trader (opposed to thinking emotionally) and making the best decisions possible. With that being said, even when it comes to technical charts the experience can get overwhelming because there are so many choices out there. Who is the best chart provider? What does it cost to gain access to technical charts? You will have choices ranging from free to paid, but does a service that charges for technical charts mean they are better? Maybe. I want to take you through a quick exercise that will allow you to give yourself an honest feeling about some technical charts without being influenced by the perceived value bias or confirmation bias. In this video I set-up three charts next to each other. Each of these charts is from a different technical chart provider, but I don’t tell you “who is who” until the end. This way, you can make an honest judgement of what charts you like the most without even knowing if they’re free or paid. I have a sneaky suspicion that you’ll realize that when it comes to technical charts, you don’t need to use a huge portion of your budget on them. Let the test begin!

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