With the holiday season here, so comes more parties, get togethers, and visiting with the people you only meet with so many times a year.
While many of the people I talk with are nowhere near as interested or as close to the markets as I am, you can probably guess the question I am most often asked is, “What tools do you use to trade?”
I figured that if all these people are asking me, then I am pretty sure some of you out there would probably want to know too? So below is a pretty good list of the tools and resources I use whenever finding good stocks to play:
Research:
- Google Finance – Where it all starts. I am not an avid user of running scans, instead I like to see what is hot, what is related, and Google Finance does it all.
- Finviz – Probably the holy grail for technical traders. When I do decide to do scans, Finviz allows you to run scans for different patterns and a million other parameters. Read more of what you can do with Finviz.
Analysis:
- MarketClub – Yes, it is true. I don’t just talk about how great the service is, but this resources has got to be my bread and butter. As a huge fan of technical analysis, MarketClub allows you run almost any analysis you see fit.
Trade:
- TD Ameritrade – My online stock brokerage. All my trade executions go down right here.
So there you have it: short and sweet. I hate clutter and really messing around with too many sites. When it really comes down to it, regardless of any other extra site I may visit, I always run my ideas and stocks through these sites before I finally execute a trade.
It is also important to remember that no matter how great of the resources you have, they are only as good as the trader using them.
What are some of the best tools and resources you use?