How To Set Up Stock Charts: 8 Smart Tips

You’ve decided that you want to really do all this trading stuff. Now you have to set up your stock charts so that it’s easy and simple to analyze the markets.

A little time up front correctly setting up your charts now will save you time and money down the road. The key is to get the basics out of the way first; color, type, size, etc. Once you have something you can live with start adding technical analysis studies and saving the templates.

In this video I’ll show you how to set up stock charts using a brand new template from my paper trading account.

[youtube]http://www.youtube.com/watch?v=ek5JUILBn-4[/youtube]

Smart Tips For Stock Charts

Here are some quick tips to help you along:

  • Keep the technical studies to a minimal on each chart. Don’t put 34 studies on one chart – that doesn’t make you smarter or more profitable.
  • Have multiple timeframes ready to go as different templates.
  • Base chart should be the timeframe you are most comfortable trading.
  • Focus on narrowing down your watch-lists to securities you will ACTUALLY trade. Again less is more.
  • Know how to use the shortcut keys to removed/add studies/earnings/volume.
  • Candlestick charts tell you more about the underlying market sentiment.
  • Have at least 2 momentum indicators and see if they correspond with each other.
  • Don’t relay too much on moving averages (they are slow and typically don’t give great signals)

What did you think? Did this video help you with setting up your charts? Maybe you learned something new if you already have your charts set up. Either way, add your comments below!

About The Author

Kirk Du Plessis

Kirk founded Option Alpha in early 2007 and currently serves as the Head Trader. Formerly an Investment Banker in the Mergers and Acquisitions Group for Deutsche Bank in New York and REIT Analyst for BB&T Capital Markets in Washington D.C., he's a Full-time Options Trader and Real Estate Investor. He's been interviewed on dozens of investing websites/podcasts and he's been seen in Barron’s Magazine, SmartMoney, and various other financial publications. Kirk currently lives in Pennsylvania (USA) with his beautiful wife and two daughters.

  • Pam

    Great video, as always Kirk – THANKS-!!

    • Kirk

      @Pam, Glad you liked it

  • awake

    awesome post! it takes newbies hours to setup charts when they start using a new trading platform.

  • Ryan Lindsay

    Great video, very helpful. How do you decide on the time frame for each chart (e.g. 1yr Daily)?

    • I use the daily charts 99% of the time. It’s just the best measure for how I trade options. Weekly is to slow and intra-day is too fast.

      • Ryan Lindsay

        Thanks for the response. I am now doing options trading as a way to
        hedge my underlying positions, and would like to improve on the
        technical side. I am more of a position trader but would like to use
        technical analysis as a way to improve my entry and exit points on a
        stock. Do you offer an online teaching? If so, what is the best way to
        contact you. Thanks

      • Yes we have a premium membership that has a ton of video tutorials and training on options. If you wanted a more personalized training session then just submit a support ticket to me and we can set up a one on one coaching session.