Warrior Trading is an educational program for day traders that has received several nominations for best educator from the Benzinga Fintech Awards. Through its online platform, students of Warrior Trading gain access to a wide range of useful tools, including a trading simulator, a trading chatroom, and a specially-designed stock scanner.
In addition to understanding how to use these types of fintech to their advantage, prospective day traders must also know how to read different types of charts, such as a line chart. The line chart is the most basic form of trading chart and shows day traders how a stock’s price has progressed over a period of time.
To read a line chart, an investor first must look to the top of the chart to identify the timeframe. Depending on the needs of the trader, data points may be charted based on days, weeks, months, or another specified period of time. The chart’s horizontal axis is labeled with the corresponding time period in even intervals, while the vertical axis is labeled with a price range. The line created between the axes shows the fluctuations in closing price of a stock in a period chosen by the trader. For a daily chart, the line will reflect the closing price at the end of each day, while a weekly chart reflects the closing price of a stock at the end of day on Friday each week. A monthly chart would reflect the closing price of a stock on the last day of each month.
