As we approach the final stretch of Tradingview's Black Friday sales, I thought I would outline some reasons why you should invest in Tradingview, or more specifically, a paid membership.
Its the time of year where expenses start piling up. Christmas on the horizon. If you are a licensed professional, then you have to start renewing your license and insurance (I have two licenses to maintain sadly, which are extremely expensive). And if you live in the North Eastern United States or Canada (with the exception of you East Coasters out there), you're also looking at the heating costs and the dreaded winter tire expenses. So I get why having another expense added can be all so dreadful, especially if you are starting out as a trader and not quite profitable yet.
But here are some reasons why I think it makes sense and why I think you should support Tradingview (and yourself) through a paid membership:
1. Its tax deductible. Yup. It is. If you are a trader and relying on Tradingview in the conducting of your business, it is indeed tax deductible. Your laws and regulations may vary slightly depending on state and country, but in Canada, if you are a day trader and unincorporated, you are considered a Sole Proprietor and can write off the expense as a "business expense".
2. It provides more enhanced access to data. Not only can you use more indicators and all that fun stuff, but you can actually get more data, further back in history. As a premium member, I can pull data on the SPX from the 1800s, when people were trotting down to their local broker's office (maybe? Not sure if that was a thing but probably) in horse and carriage to sign for and purchase their very own shares in such things as the Mackintosh company.... No, not the computer company, but the very stylish raincoat manufacturer of the 1800s. Look it up.
3. Integration of brokerages: Tradingview allows you to integrate your brokerage into a more chic and functional chart platform. As I am Canadian, the brokers we have available here are pretty god awful in the functionality they permit you to do. Tradingview allows you to do far more tailored things to your charts and also provides you the ability to trade directly from your Tradingview chart! (If you are Canadian, currently only IB is the big one supported here).
4. Pinescript. I know I shill Pinescript a lot, but if you are a quantitative trader, or a trader who likes to use code and scripts in a meaningful way to help you trade, for the most part Pinescript and Tradingview are hands down the best and happy medium. While Pinescript cannot execute trades for you at this time, Pinescript, by default, has real time and direct access to exchange data, all compressed on a relatively easy to learn platform that will have you writing useful code that can really help you with a little bit of effort. I rely on Pinescript every day (see my post on Why you Should Learn Pinescript if you are interested in how it changed my trading for the better). If you want to use another platform, such as Python, your only alternative is yFinance, which has delayed data. For real time data, you would have to go to a provider such as Polygon who charges you, on average, 80$ per month to get the live data that Pinescript already has access to and is built into its native platform. And while you don't need a paid membership to use Pinescript, you need a paid membership to optimize pinescript to use more advanced or bigger codes that may take a bit longer to execute. As well, having a paid memebership grants Pinescript more access to more data (point 2 of this post).
5. Its a supportive community. Everyone on here all is doing the same thing and all has, generally, the same sense of how trading goes. We know that you win some, you lose some, you have hard days, you have bad days and your mood fluctuates with the market. No other community is as in-tuned with these nuances of the market as the Tradingview community. Trolling can and does happen sometimes on here, but not to the same extent as I have observed on other platforms, which can pretty hostile and.. let's say, unsupportive.
6. Tradingview supports all equally. Unlike Youtube or Insta or TikTok (I think? I'm Millennial so, boomer by TikTok standards) who reward you for your following, Tradingview doesn't. Having recently started their Editors Pick monetary rewards, they pick all types of people, with all types of ideas, who trade all types of instruments, regardless of their following numbers or preferred instruments. They support you and sharing your ideas, so it may be nice to return the favour to them. The same goes for Pinecoders. There have been editor's pick codes who were first time coders who just posted their first indicator. Its not the person themselves that matters to Tradingview, its the person's idea and passion and I think that's important in this type of community.
7. The vast access to tickers and exchanges! Tradingview offers you access to multiple tickers and indices and exchanges in multiple different countries. More access than any single broker does (at least, again, for us Canadians haha). In a matter of seconds, you can be checking out China's stock exchange, Germany's, Frances, London's, Canada's, Russia's, the list goes on!
8. And I forgot to add, they are constantly making improvements to their platform! Introducing new things, like interviewing traders in livestreams, providing more functionality to Pinescript, providing more functionality for chartists, the list goes on! As we all try to improve as traders, Tradingview continually improves as a helpful platform!
Anyway, those are my thoughts. On that note, you have approximately 1 day left to get the awesome discounts, so chop to it if you want!
And if you are interested, I am not sure if it counts if you already have a Tradingview account, but you can use the referral code here, I want to say, to get 15$ if you are switching to a paid from unpaid or new account creator (hopefully I understood correctly):
www.tradingview.com/gopro/?share_your...
Use it, don't use it, doesn't really matter. The point I want to make is, its worth it if you are really passionate and interested and serious about trading!
That's it!
Safe trades everyone and take care!
Its the time of year where expenses start piling up. Christmas on the horizon. If you are a licensed professional, then you have to start renewing your license and insurance (I have two licenses to maintain sadly, which are extremely expensive). And if you live in the North Eastern United States or Canada (with the exception of you East Coasters out there), you're also looking at the heating costs and the dreaded winter tire expenses. So I get why having another expense added can be all so dreadful, especially if you are starting out as a trader and not quite profitable yet.
But here are some reasons why I think it makes sense and why I think you should support Tradingview (and yourself) through a paid membership:
1. Its tax deductible. Yup. It is. If you are a trader and relying on Tradingview in the conducting of your business, it is indeed tax deductible. Your laws and regulations may vary slightly depending on state and country, but in Canada, if you are a day trader and unincorporated, you are considered a Sole Proprietor and can write off the expense as a "business expense".
2. It provides more enhanced access to data. Not only can you use more indicators and all that fun stuff, but you can actually get more data, further back in history. As a premium member, I can pull data on the SPX from the 1800s, when people were trotting down to their local broker's office (maybe? Not sure if that was a thing but probably) in horse and carriage to sign for and purchase their very own shares in such things as the Mackintosh company.... No, not the computer company, but the very stylish raincoat manufacturer of the 1800s. Look it up.
3. Integration of brokerages: Tradingview allows you to integrate your brokerage into a more chic and functional chart platform. As I am Canadian, the brokers we have available here are pretty god awful in the functionality they permit you to do. Tradingview allows you to do far more tailored things to your charts and also provides you the ability to trade directly from your Tradingview chart! (If you are Canadian, currently only IB is the big one supported here).
4. Pinescript. I know I shill Pinescript a lot, but if you are a quantitative trader, or a trader who likes to use code and scripts in a meaningful way to help you trade, for the most part Pinescript and Tradingview are hands down the best and happy medium. While Pinescript cannot execute trades for you at this time, Pinescript, by default, has real time and direct access to exchange data, all compressed on a relatively easy to learn platform that will have you writing useful code that can really help you with a little bit of effort. I rely on Pinescript every day (see my post on Why you Should Learn Pinescript if you are interested in how it changed my trading for the better). If you want to use another platform, such as Python, your only alternative is yFinance, which has delayed data. For real time data, you would have to go to a provider such as Polygon who charges you, on average, 80$ per month to get the live data that Pinescript already has access to and is built into its native platform. And while you don't need a paid membership to use Pinescript, you need a paid membership to optimize pinescript to use more advanced or bigger codes that may take a bit longer to execute. As well, having a paid memebership grants Pinescript more access to more data (point 2 of this post).
5. Its a supportive community. Everyone on here all is doing the same thing and all has, generally, the same sense of how trading goes. We know that you win some, you lose some, you have hard days, you have bad days and your mood fluctuates with the market. No other community is as in-tuned with these nuances of the market as the Tradingview community. Trolling can and does happen sometimes on here, but not to the same extent as I have observed on other platforms, which can pretty hostile and.. let's say, unsupportive.
6. Tradingview supports all equally. Unlike Youtube or Insta or TikTok (I think? I'm Millennial so, boomer by TikTok standards) who reward you for your following, Tradingview doesn't. Having recently started their Editors Pick monetary rewards, they pick all types of people, with all types of ideas, who trade all types of instruments, regardless of their following numbers or preferred instruments. They support you and sharing your ideas, so it may be nice to return the favour to them. The same goes for Pinecoders. There have been editor's pick codes who were first time coders who just posted their first indicator. Its not the person themselves that matters to Tradingview, its the person's idea and passion and I think that's important in this type of community.
7. The vast access to tickers and exchanges! Tradingview offers you access to multiple tickers and indices and exchanges in multiple different countries. More access than any single broker does (at least, again, for us Canadians haha). In a matter of seconds, you can be checking out China's stock exchange, Germany's, Frances, London's, Canada's, Russia's, the list goes on!
8. And I forgot to add, they are constantly making improvements to their platform! Introducing new things, like interviewing traders in livestreams, providing more functionality to Pinescript, providing more functionality for chartists, the list goes on! As we all try to improve as traders, Tradingview continually improves as a helpful platform!
Anyway, those are my thoughts. On that note, you have approximately 1 day left to get the awesome discounts, so chop to it if you want!
And if you are interested, I am not sure if it counts if you already have a Tradingview account, but you can use the referral code here, I want to say, to get 15$ if you are switching to a paid from unpaid or new account creator (hopefully I understood correctly):
www.tradingview.com/gopro/?share_your...
Use it, don't use it, doesn't really matter. The point I want to make is, its worth it if you are really passionate and interested and serious about trading!
That's it!
Safe trades everyone and take care!
Premium indicators and content have launched! Get access at: www.patreon.com/steversteves