How to Optimize Your Trading Tool

Did you know there are tons of helpful tools out there to help you trade smarter, better, and faster? Though some tools (such as software) cost money, many are complimentary services provided by online traders. Here are some tools that can help you optimize your trading.

  1. The newspaper. You can’t write a trading tools article without including the old standby, right? Many prefer the Wall Street Journal, but just about any local rag will include a stocks report.
  2. Podcasts. Podcasts are quickly becoming one of the most popular in-depth investment reporting outlets. Popular podcasts include: Wallstrip, The Disciplined Investor, Feed the Pig, Vanguard Plain Talk on Investing, Money Girl, Bill Gross’s Investing Outlook, and Marketplace Money
  3. Personalized Trade Reports. No matter if you’re looking to day trade or trade CFD, a personalized market report is a tailored briefing based on your trading profile. This way, you won’t have to skim past the information that doesn’t pertain to you.
  4. Daily Market Review. This is a report of the previous day’s market activity. Many daily market reviews are complimentary through online trading services.
  5. Customizable Charts. These allow you to track your individual stocks or compare them to other stocks. You can also add predetermined measurement rankings or choose a technical overlay.
  6. Trading Tip Emails. Many services offer daily or weekday-only emails with trading ideas, tips, and tricks.
  7. Books. It may seem off-putting to read a book when trading is such a hard-and-fast, cutting-edge industry. However, trading isn’t without its own list of must-reads. Consider “Reminiscences of a Stock Operator,” “Market Wizards,” or “A Colossal Failure of Common Sense.”

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