Websites For Traders
TidalwaveTrader.com
Those who are just starting out in technical analysis or don’t consider themselves yet to be able to call themselves intermediate-level technical analysts are often faced with a lot of uncertainties. TidalwaveTrader.com provides traders with a road map so they know where and when to channel their efforts.
One of the biggest hurdles that traders face is identifying which stocks to trade. TidalwaveTrader makes it easy for you by generating trade alerts, telling you when to buy it, sell it, the maximum amount you should pay for it, and the profit results. Each alert is accompanied by a video usually with founder Brett Grendahl when he explains why that alert was selected.
TidalwaveTrader.com home page
The educational section is also extensive and accompanied by videos. The videos explain various chart patterns, money management strategies, and indicators. The nice thing about these videos is that the explanations of just about everything on the site are done with specific charts. This makes it easy to follow and you also feel as if you have a mentor. The objective of the website is for it to act as your mentor because in addition to teaching you various trading techniques, you can also get real-time trading advice.
It is a common belief that trading is a lonely occupation, so being able to connect with other traders who are on your level is a bonus. Being a member of the TidalwaveTrader community gives you the option of connecting with other traders while you sit glued to your terminal during trading hours.
You also have the option of creating a trading journal. The idea behind the journal is to ensure that you are following your plan and achieving the goals you set out for yourself. This is where you enter all relevant information on your positions. This includes the entry date, entry price, how much you invested, your stop-loss, and price targets. Once you sell the position, you can enter all the information of the sale and then determine what your profit/loss was. To help you along, you can also enter notes about the stock you traded. It’s a good way to keep track of your progress. We get so wrapped up in our trading that we avoid doing the little things that make a huge difference. Going back and analyzing your trades really helps to identify what it is that you are doing wrong and how you can improve your trading.
Last but not least is a feature called the dashboard. Here you get to see a summary of all the features available on TidalwaveTrader. You can see an example of the dashboard in Figure 1. All the features I mentioned are displayed. It’s well laid out, which makes it easy to see what you should focus on during the trading day. On the top right-hand corner of the page you see a market gauge that highlights if the market is bearish, neutral, or bullish.
Figure 1: dashboard. The dashboard summarizes all the features available on the site. It makes it very easy to see what you should focus on during the trading day.
The website provides maximum learning in minimum time. It’s a great site for beginning traders because it helps them focus on what is important. It’s easy to get distracted by what is happening in the markets, which ends up with you either making a bad trade or not making any. I would encourage traders who are having a hard time getting started in a successful trading career to visit this website. And for $49 per month, you really have nothing to lose.