The Top 5 Trading Tools for the Stock Market in 2018
by Abdul Aziz Mondal Investing Published on: 01 October 2018 Last Updated on: 07 June 2021
There is no better way to predictably become a millionaire than by investing in the stock market.
In the last century, the S&P 500 (the country’s top 500 companies) have grown in value on average by 10% year over year. That rate of growth dwarfs any returns you could ever hope to get from savings accounts, CD’s, bonds, or any other type of investment.
But is getting great returns on the stock market as easy as throwing your money into the fray? Unfortunately, no.
It’s important that you arm yourself with the best trading tools to see the best trading returns.
Many people feel that the stock market or trading is not for them. However, according to most experts, this ignorance stems from not being aware of how the stock markets work. There is a misconception that the stock markets are too complex and confusing to understand. That is not the case.
In the past few years, many credible institutions and firms have come up to offer simple, easy, and affordable stock trading solutions to normal individuals. If you are looking for the best investments uk, you can always count upon good agencies and firms to help you decide.
Below, our team shares five of our favorites!
1. Trading Platforms:
To start trading, you need a tool that will allow you to buy and sell stocks to get the returns you’re looking for. These tools are “trading platforms” and there is a lot you can pick from.
Overall, you’ll want trading platforms backed by a reliable name that offers low-cost trades.
Our favorites to that end are Schwab and TD Ameritrade.
2. Screeners:
There are a lot of stocks out there. How can you sort through the masses and find the one that meets the criteria you’re looking for?
Via screeners.
Screeners allow you to put in particular criteria ranging from industry, cost, and history indicators. The screener will then spit out stocks that are within your wheelhouse. From there, you can decide which ones to buy.
There are some low functionality stock screeners out there, but if you’re serious you’ll want to invest in robust tools like Finviz. Finviz offers some basic free tools but charges $25.00 for its robust offerings.
3. Trackers:
The market never sleeps and consequently, you’ll want to make sure you’re always on top of what’s going on with your favorite companies. You can do this via any basic stock tracking application that shows you the recent ups and downs of the market.
Most smartphones will have a stock tracker built-in. If yours doesn’t or you’re looking for a good place to check out stock updates in your web browser, check out Yahoo! Finance.
4. Lead Generators:
It can be hard to know which stocks to buy and which to sell. To get the insight you need fast, consider subscribing to any number of the lead generating tools available online.
Some are free and others cost money. On the free-front, if you’re interested in Forex trading, check out RedHotFX. Another great general tool that costs money is Briefing.com.
5. A Mobile-Friendly Trading Platform:
Do you anticipate doing most of your stock trading via your mobile phone? If so, you’ll want a stock trading platform that plays well with non-desktop devices to be among your trading tools musts.
We recommend looking into TD Ameritrade and E-Trade for cellular trading.
Wrapping Up the Best Trading Tools to Dominate the Stock Market in 2018:
If you’re looking to get rich playing the stock market, you’ll want solid trading tools backing you up. Our recommendation is to leverage our tool suggestions above.
Anyone of them has the power to take your trading game to the next level!
Want more of the best money-making advice you can get online? If so, check out more of our content on Real Wealth Business today!
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