4 Investing Apps I Use and 1 I Don't
The good apps simplify trading and expedite the entire process for investors.
If you want to simplify your daily investing ventures, then I truly believe that you need to have a few of the right apps to help you along the way. The right app can simplify investing, help you stay connected with the outside world and expedite the entire trading process for you. Here are four of the best investing apps for any trader to consider.
1. iPhone’s stock app.
Let’s start with the basics. The iPhone’s basic default stock tracking app is actually a pretty good tool that you can use to keep an eye on the major indices throughout the day as well as select stocks in your portfolio. This isn’t an app that you should be using to do analysis and make buy or sell decisions. But it will help you keep your finger on the pulse of the market no matter where you are. The top mistake investors make is not checking in with the market frequently enough. That’s how small losses become major losses. So even when you’re away from your desk or do not have access to a trading dashboard, even a simple tool like this could save you a lot of money.
If you haven’t tried the eTrade app to manage all of your trades, then it is time that you start. This app is super convenient and it puts all of the wealth-building tools you need right at your fingertips. When you want to make quick trades on-the-go, this is one of the tools I suggest you turn to. Plus, it is filled with tons of information and analysis features to help you make smart decisions.
When I need a program that can help with scanning stocks and examining charts, I use StockToTrade. This software program claims to be powerful enough for a hedge-fund, but that it’s built for the average Joe investor and in all reality, I agree with them. I love this software program. It is super powerful, it’s easy for my students to use and it’s easy for me to use when I need to make huge trades from my home office or whenever I’m traveling. StocksToTrade also has scans for news as it relates to trading setups and patterns. One of my favorite features is being able to sort stocks based on a multitude of characteristics such as share price, market cap, etc. The pre-programmed scans for certain trade setups also make it very easy to build a trading strategy.
When it comes to the tools I rely on most for investing, there is nothing quite like Entrepreneur.com. This is a prime example of it being about more than just apps, this site simply makes it easier for me to invest. I truly believe that investing without knowledge is risky. This is why I am always reading and always finding out new information. I spend a lot of time studying the articles on Entrepreneur to see what is happening in business.
And now, for the one app that I don’t use…
5. Robinhood free broker app.
I am always willing to look at different apps in order to find programs that can help me in my everyday investing ventures. Some apps are great, others are just OK, but this app is one that I simply won’t use. I warn all of my students against using the Robinhood app, for a few reasons. This app has bad executions, weak short-selling options and it tries to lure people in by being “free.” Be careful with this one. Plus, there are no after-hours trading. In my opinion, it is better to just pay for quality.
Keep these apps in mind whenever you are looking for a new program to help you with your investing ventures. The right app can help make all of the difference in how easy it is for you to handle your daily trades with ease.
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