4 of the best tools for investors
Jason Briscoe (Unsplash)
These days, most people get their news online. In an age dominated by technology, traders can use their smartphones to stream quotes and buy stocks. Trading platforms are more sophisticated than ever before, and it’s possible to get company news and regular updates via your Apple watch or mobile phone.
Whether you are new or experienced in trading stocks, you need to embrace technology to make the most of your trading venture. The range of modern technological tools at our disposal can certainly serve to streamline the process, improve research and potentially boost your return on investment.
If you find yourself overwhelmed at the number of available tools, here is a list of the top tools for investors to help get your investment journey started on the right foot.
A reputable trading platform
Finding a good broker with a solid trading platform is one of the fundamental parts of trading. The brokers with the most advanced trading software platforms tend to have higher commissions and require a minimum account balance to allow traders to access the platform. Shop around to find a trading platform that contains the best features and is a financially viable option for you.
A mobile app
The markets can change in the blink of an eye, so serious traders need the ability to check on their investments on the go. When choosing a trading platform, you’ll want to ensure it gives you access to a great mobile app. Ideally, you want to find an app that will provide advanced features available on the desktop platform.
Stock screeners
Stock screeners speed up trading by allowing the investor to filter stocks based on specific criteria, including dividend yield, share price, market capitalization, and industry. Choosing a stock screener won’t always be easy, as there are many on the market these days. Some trading platforms will have a screener included, but some traders still prefer to use more sophisticated online versions. There are lots of decent free screeners as well as others that’ll require a subscription fee. WallStreetZen’s best rated stock screener comes highly recommended.
Stock charts
If you are a trader who uses technical analysis to evaluate past stock movements to predict future performances, then a stock chart will be essential for you. Chats allow traders to analyze a stock’s history and spot signs of volatility. You can also use these charts to compare multiple stocks and a variety of markets. A good trading platform will undoubtedly include some charting capability, but online resources can also be helpful.
We live in a digital age that can be both a blessing and a curse for trading stocks. On the one hand, there is an overwhelming number of tools on the market, and it can be difficult for investors to decide which will be the most useful to them. On the other hand, these tools can help generate lucrative returns if they are used effectively. Regardless, any trader needs to get acquainted with the available tools and carefully select which of these can be of use to them in the trading capacity.
