The Tech Tools That Can Make You A Better Investor
When it comes to your big money decisions, we’re long past the days of having to rely on calculators alone. The digital world has made financial decision-making a lot easier in a range of ways and this goes into your investment strategy as well. If you’re looking to start building your wealth in the markets, here are a few tools that can help you do just that.
Keeping a close eye on your situation
First of all, you shouldn’t make any decisions on what to sell or to buy before you have a comprehensive and up-to-date idea of what your current situation is. Tools like Twine can help you see both your cash flow and your portfolio at a glance. These financial planning tools also typically have budgeting features, as well as market analyses to help you make the most informed decisions at the swipe of a thumb or the click of a mouse.
Test out your next move
There is some degree of risk to making any purchase or sale in the world of investments. However, most investors operate on strategies that help them mitigate risks and act on opportunities as efficiently as possible. Now, there are tools that can even help you test out those different strategies. Algorithmic trading platforms like Tickblaze can help you run multiple strategies while also watching their joint performance in one portfolio. As such, you can better see which strategies are likely to work and which have a higher level of risk associated with them. No simulation is going to be perfect, but it can at least help you make choices backed up by data.
Finding your next stock
There are tools that can also help you take a look through the stock market to get a good idea of which opportunities are showing all the signs of success. Sites like Finviz offer not just all the stock data that’s currently available on your options, but a host of visualizations that can help you get a better idea of how they’re doing. You can also filter results and set automatic signals to help you better find the opportunities that you’re looking for.
Getting the most valuable news first
If you want to get ahead in the world of investment, you have to track more than just the stock market. You have to track how those businesses move in the real world, as well. As such, creating a smart news feed that returns to you the headlines that best fit your interests can be precisely what you need to spot those big opportunities before others. Tools like SmartNews offer an artificial intelligence-based approach to helping you find the news that’s most relevant to you. WIth a little adjustment to your preferences, you can make sure you’re getting all the news you need to make your decisions.
Tech is reshaping the way we deal with money, both in the world of fintech and the world of investing and beyond. Make sure that you’re relying on more than just intuition when it comes to making the decisions that help you build your wealth.