In this TrendSpider review we will talk about why the TrendSpider charting platform is the future of technical analysis and show you how to use Trend Spider.
That’s right, the future of charting for “retail” traders is here! It doesn’t matter if you’re trading stocks, cryptocurrency, futures or Forex.
If you’ve been trading long enough, you’ve figured out that trading is all about finding your edge. With TrendSpider you’ll have an edge over other traders who are not using algorithms for trading.
Why? Because the automated, computer generated drawing of trend lines will allow the beginner or advanced trader to identify trends faster, as well as time entries and exits into trades more effectively.
I might be the “Trend Line Master” but one thing I noticed about my charting is that I sometimes make mistakes. I miss a a trend line here and there. I’m human after all. I might be tired, distracted, or not zoomed in enough, or too far out to see the wick or candle touching the trend line perfectly.
You know the old saying of aim small, miss small. Being off on a trend line by even a small amount can make the difference on if your entry or exit is profitable. It’s sometimes the difference between a win and a loss!
There are a million reasons at any one point where you might make a mistake with your charting, or an occasional error when setting your alerts using your ThinkorSwim broker.
Here’s the thing about machines. They do what they are programmed. TrendSpider uses math with a level of consistency not possible by human traders.
This is why computers that trade or otherwise know as high frequency trading computers are so widely used today. Some of these HFT computers use a degree of the technology that TrendSpider brings to you at a fraction of the cost.
The best way to figure out how to use Trend Spider is to dive in and start playing with it. The main feature and curb appeal is the multi-time frame analysis. Below is an example of comparing a daily and weekly chart.
Being able to compare two time frames at once saves time, and adds confidence to your analysis and accuracy to your trading plan. Trading your daily swing trade setup becomes a lot easier when you know there is “room to run” according to the weekly charts trend lines.
Once you’ve gone over the charts, you set your alert, and wait for your entry, and trade the plan!
Another key feature is automatic Fibonacci retracements. This is another great time saver that uses the proper analysis for the time frame you are viewing. I use Fibonacci retracements for both day trading and swing trading.
I have found the automation is superior in that you don’t have to worry about what peak or low to draw the liens to. The platform does it for you, effectively removing all the guesswork.
As you guys may know, we are big candlestick pattern traders. We are always discussing candlestick patterns on our live streams. We even created an entire free candlestick course for traders to learn this very important part of trading.
What we love about TrendSpider is there ability to recognize over 40 different candlestick patterns. Simply click and select which candlestick pattern you are looking for and it will be highlighted so you can easily find it on the chart. This is a great tool for newbie aspiring traders.
Above we have shown how TrendSpider works for swing trading, but using TrendSpider for day trading strategies is fantastic as well. Take a look at the $SPY chart below. You can see how using a 5 minute time frame against the daily time frame chart allowed for a couple of good long and short entries.
Check out our webinar below with Trend Spider from earlier this year. We were lucky enough to have the founder of the company show us how to use Trend Spider effectively. The product continues to get better with each new update. When you become a Trend Spider member you can rest assured the product will continue to get better as it ages!
One of the coolest features are the alerts. Right click a trend line and it will bring up some interesting choices. You can set the alert to email and text you when a trend line is hit.
That way, the Trend Spider platform is always watching and ready to alert you to the perfect entry or exit on your trade. We like that you can set it for breakthrough, touch or bounce, AND on a specific time frame candle. (Usually we select all 3 for the alert)
So for example, it might be an hourly or daily chart you are watching, but if a FIVE minute candle touches your trend line you’ll get the alert.
Also you can adjust the sensitivity of the alert. So if it gets within, say .10 cents of your trend line, you’ll get the alert (sometimes nice to get an early warning!). Fill in the Alert name, the description, and don’t forget to set the duration for how long you want the alert active (from 1 to 30 days)
If you liked what you saw in this TrendSpider Review, feel free to try the product for yourself here! Also, for Bullish Bears members we do have some special discount codes. Here are two discounts exclusive for our members. Bullish Bears members get 15% off for LIFE by using coupon code BULLISH15. BULLBEAR30 – which is 30% off PRO Yearly or ELITE Yearly plans. BULLBEAR20 – 20% off PRO Monthly or ELITE Monthly plans. Both coupons apply to first 12 months of service, renewals after 12 months are at normal prices. If you guys go for the yearly, using the above coupon, you save 15% once for paying yearly. Then save 30% again with our discount. That’s a total of 45% off the yearly plan. It’s a great deal for a platform this awesome! You won’t find another product like it on the market.
BEAR TRAP TRADING
CANDLESTICK PATTERNS – HOW TO TRADE CANDLESTICK PATTERNS
ZACKS REVIEW – IS IT SHARING REAL PROFITABLE DISCOVERIES?
BLACK BOX STOCKS FREE TRIAL
STOCK TRADING – WHAT IS STOCK MARKET TRADING?
ROBINHOOD REVIEW – TRADE FOR FREE
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.