Trading on the stock market is at the same time one of the most lucrative and most stressful jobs there is. Although the gains are great, the risks are great as well. Most people wish to explain the reason why some fail and others succeed by naming luck as the key factor, when in fact it has more to do with skill than anything else. However, skill alone is seldom sufficient without proper tools of the trade to complement one’s shortcomings. With this in mind, here are six of the best applications suited exclusively for active traders.
Every story has its beginning, and although in most lines of work the beginning is quite user friendly, this is not so on the stock market. Here, life throws you in the middle of the ocean and tells you to either learn to swim or sink to the bottom. This is where the Bloomberg+ application comes in handy. What it offers is some insight into the first steps you should take in the world of stock traders. In other words, it helps set you on the right track.
- Stock Wars: Virtual Investing
As we have already mentioned, regardless of how well prepared you may be, getting ready for all the stock market brings might be simply too much for you to handle. This being said, what you most likely need is some practice. Unfortunately this can be quite expensive since every mistake on the market is punished financially. Luckily, where there is a will there is always a way and by installing a simulator app like Stock Wars: Virtual Investing on your mobile device, you can try your hand on the market without any risk. A truly unique opportunity.
- E-Trade Mobile
Some people find that the biggest problem with trading in general may be the fact that there is simply too much stuff to follow. This is why you should look at the E-Trade Mobile app as your own personal stock search engine. Not only does it allow you to track all the stocks you are interested in with an astounding speed, but also allows you to find them via voice commands. However, the most important is its ability to conduct buys and sells at a second’s notice, if you connect this app with your bank account.
Even though not the most popular on the stock market, trading in binary options is quite a lucrative field. This is where 24option comes in big. As a cutting edge trading software, it offers unparalleled real-time execution of your every order. An expediency and accuracy like this is what makes all the difference. Furthermore, its user friendliness is specifically designed to give an edge to new users.
Another thing you will need in order to make a name for yourself is to be well informed on everything that is happening on the market. This is why a lot of people rely on the StockTouch application to keep them informed of all the moves that their fellow investors make. After all, knowledge is power and you will need all the help you can get if you are to succeed.
Finally, in order to ensure your success, you will need a reliable data analyzing app. Having the right information does not suffice on its own, what you need is to know what to do with it as well. If you are looking for an application to do this successfully, you simply cannot go wrong with TheStreet.com.
Make no mistake, the stock market is nothing short of a battlefield and with this in mind, you do not want to start the battle until you are properly armed. In this hostile world of stock trading, you owe it to yourself to do everything you can to gain a competitive edge. Any or all of these apps may be of an invaluable assistance.