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Why Should Traders Use Stock analysis software?

Posted by on Apr 20, 2017

Long gone are the days when stock traders read stock quotes written on newspapers. These days, stock traders are now getting their quotes by streaming through smartphones. They are also using the same device to buy stocks, too, including with advanced trading platforms. The very same source as well is being used for getting company updates and news, which can also be attained through Twitter, chat rooms and many other mediums.

In other words, if you are not taking advantages of technology with stock trading, then you are definitely missing out. The stock analysis software below, as shown at can aid in streamlining your process, enhance your research skills and even bring about a good boost in your returns.

A robust trading platform. The first step is to choose a broker that has a powerful trading platform, but this step can be quite tricky. Sometimes brokers that possess the advanced trading platforms possess higher trade commissions. It also needs a minimum amount of account balance or trades in order to acquire access to the platform.

A trading app for mobile use. If you really want to dedicated most of your time trading, then you will have to gain the ability in doing your trade while on the go. This means that you need to choose a broker that has a powerful mobile trading app. There are various apps available online, usually provided by the broker that you work with. They can be as simple as being able to execute the most basic trades and viewing quotes. Some of them even mirror images of the desktop platform or the web that comes with very advanced capabilities like screeners, sophisticated options trades, and charting.

Stock screeners. Traders can fully relax if they consider stock screeners in their arsenal. This is because it allows a trader to search quickly for a stock that is based on the criteria you have defined such as share or industry price, dividend yield and the market capitalization, which refers to the size and value of the company.

Most trading platforms that are offered online comes with a screener. Some brokers even have their own screeners which they use for exchange-traded funds, options or mutual funds. Many advanced traders highly recommend using Finviz, since it comes with highly in-depth screening capabilities in which it will definitely aid you with your trading opportunities. The site also provides charges, both international and US market quotes and maps. Its basic services are offered for free, but they have an elite subscription that starts under $25 per month.

Stock charts. Who trades in stocks without stock charts? Charting is one of the most important parts of any trader that utilizes stock analysis software analysis, wherein it includes evaluating the past movements as a way to predict the performance in the future.

Stock charts can assist in the aforementioned analysis through displaying the performance of a particular security over time, thus allowing the traders to recognize the patterns and take a look at different technical indicators. Users of stock charts also dig into the history of the stock and recognize its volatility, and even compare several securities and the benchmark performance to its indexes.