Successful Stock Trading Tools

Successful Stock Trading Tools

In the past, you needed to use a broker to buy stocks or bonds. Now you can now use online stock-trading tools to execute trades of all kinds, including many of the more complicated transactions such as options and futures trading.

Trading Platforms

1.      Trading platforms have advanced rapidly over the past few years. Companies such as E-Trade and Scottrade offer the latest stock trading tools to help you make decisions based on past performance and estimated future performance of stocks. These websites are easy to use. Navigation is simple and straightforward. Virtual charts and watch lists for underperforming stocks allow you to buy stocks for less than they may be worth in the future. Calculators of all kinds allow you to see how much you will profit from price movements, and automated trading takes the difficulty of trading away.

Most online brokerage houses also have tools such as alerts, videos and blogs to help you decide which sectors to invest in as well as highlight particular stocks have performed well in the past. You can pick tools based on your familiarity with the stock market, as many of the brokerage houses are aimed at beginners to the investing world. Several others, such as Zecco and Think or Swim, are geared to advanced traders and offer tools for more advanced trading such as options and derivatives, which are based on more complicated calculations. There is no way to predict what stocks will do, but these tools may help you become a successful investor.

Trading Robots

2.      Install a trading robot on your computer. Originally developed for the foreign exchange market, these robots take the emotional element out of stock trading. By setting parameters in which the robot will follow, you have no emotional response to what is being bought and sold. Although the stock market fluctuates based on human perceptions, the trading robot removes this element and focuses on pure profits and losses.

Charts and Indicators

3.      Visit websites such as Yahoo! Finance and Bloomberg.com to take a look at financial reports from companies you are interested in. With real-time charts of stock performance and new reports about the individual firms, you can gather crucial information about the financial performance of these firms to pick and choose the stocks that will perform well in the future. These websites also have tools that will show you overall past performance and anticipated future performance based on assumptions and trends.

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