We are living in a time of unprecedented wealth. With the rise of the gig economy and automation, we’re seeing more people than ever before make six-figure incomes. It is not uncommon to hear about someone making $150,000 a year as a freelancer working from home.
However, there’s one thing that these high earners have in common: they invest their money wisely. It might seem daunting at first glance, but trading stocks can be surprisingly simple if you know what you’re doing.
There are many different stock trading tools out there that will help you trade successfully and grow your wealth. This blog post reviews some of the best stock trading tips and tools in 2021.
A Trading Platform
A trading platform is something that most traders use to trade stocks. You can choose from a variety of different platforms, but it’s best to stick with one from the same company as your brokerage firm. You will enjoy the ease of use and better security.
The trading platform will be where you carry out all of your trades. It’s essentially the “hub” for your stock investments.
You’ll use this tool to find new stocks, buy them at the right price, and sell when they’re high enough for a profit. Pretty much everything related to stock investment can happen on a trading platform.
Trading platforms also have many other features that make it easier to trade stocks. They are things like:
Charting tools: They show you real-time information about how certain stocks are performing.
Streaming news updates: Helps you stay up-to-date with current events affecting companies’ prices.
Company fundamental data: This may include past performance and financial statements.
How Do You Choose the Best Stock Trading Platform?
It’s important to make sure the trading platform is trustworthy, preferably with a long history of providing excellent customer service. You also want it to have all the features you need at an affordable price and provide access to stocks from around the world.
It should also be intuitive enough that beginners can get started without any training but offer advanced tools for more experienced traders as well.
Some stock trading platforms that meet these criteria include; Trade Station, and e-Trade, and Robinhood.
Mobile Trading App
If want to know how to trade stocks, you’ll need a stock trading app that lets you trade on the go. Whether you’re on the subway, at an airport, or in bed (yes!), having access to your stock portfolio is crucial.
A mobile app can help increase activity and profits by making it easy to enter trades anytime day or night from anywhere. These apps should include features that will allow you to monitor your positions, see charts, and access research.
Stock trading tools can be as simple or complex as you need them to be, but a good stock market tool will help make your life easier.
Live Streaming Quotes
If you are new to stock market investing or just can’t stand waiting for a long time before seeing your trades executed, then look for a service with live streaming real-time data feed. This will give you up-to-the-minute information about how prices have changed since the last time they were updated – which is crucial if you’re trying to buy low and sell high.
A stock alert notifies you via email when certain criteria are met (e.g., if ExxonMobil’s EPS report is about to be released).
This can help you time your trades and get in before other traders. You can set up an alert using most trading platforms.
If it turns out that there was no newsworthy event after all, then the service will also send a follow-up reminder. That way you don’t have to worry about missing any details from investing announcements.
Charting is important to every trader because it tells a story. A stock chart shows you the highs and lows of any given company’s price over time. It illustrates where to buy and when to get out before things go south.
Charting will also be a good way to see how the stock is performing and if it’s worth investing in. Charting software can be found on most trading platforms. Some offer free charting as part of their platform with limited functionality.
Data Visualization Tools
With so much data being thrown at us every day, it’s sometimes hard to tell the good data from the bad.
Data visualization tools help you make sense of this data. It transforms vast amounts of raw datasets into charts and graphs that we can understand more easily than spreadsheets.
They’re also great for presenting your findings to others with different knowledge levels. Visuals are generally easier for everyone to comprehend.
Algo Trading tools
Algorithmic trading tools are a powerful way to gain an edge in the market.
They allow traders to automate previously time-consuming and tedious tasks, like looking for low volatility stocks or analyzing overbought stock trends.
Most platforms offer the ability to customize and build your own algorithms from scratch. They also allow you to use automated trade signals generated by other traders.
You can build your own trading system to help you keep track of your positions and profits, or invest in one that’s already been created for you. Check out Kjtradingsystems.com for information on how to build an automated trading system.
Get the Best Stock Trading Tools in 2021
This article has highlighted some of the best stock trading tools for 2021. These are just a few of the many that exist to help you trade stocks. Be sure to do your research before making a decision on any one in particular.
The great thing about these new-generation programs is that many of them are free. So, if you’ve been looking for software that will make investing less time-consuming, then this list should serve as an excellent starting point.
Did you like our stock trading advice? Keep reading our posts for more interesting and informative articles.