A good workman may never blame his tools, but the tools of trading are essential for making profits. From free trading tools to their paid counterparts, there are many choices in the market.
So, how do you choose the best option? Well, if the stock market is a pack of cards, the ace is none other than tools which calculate investment performance and monitor fees as well as asset allocations. With these complex trading tools, handling and tracking your investments was never simpler.
Trading Tools;
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Personal Capital: Linking investors to their accounts
Personal Capital en-cashes on an investor’s capability of linking virtually to any investment account. This includes investment accounts such as retirement and taxable accounts. Once these are linked, allocation, fee and performance are tracked using this single trading tool which offers multiple benefits.
Graphs ensure that it is easy to compare returns and understand asset allocation. This trading tool also offers a 401k Fee Analyzer which calculates effect of fee payment across time horizon. Free apps for smartphones and tablets are another positive feature of Personal Capital. The best things in life are free and this investment tool happens to be one of them.
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Morningstar: Dawn of a new era in investing
Morningstar offers a lot of benefits. To elucidate further, it is one of the most robust tracking trading tools which can be used today. Once you enter your portfolio, Morningstar makestrading tools to evaluate investment available. Morningstar includes the following tools- performance and investment cost tracker, comparative index tracker and more advanced trading tools such as star rating.
An award winning feature of Morningstar is its X-Ray tool which enables users to observe details of portfolio of mutual funds or exchange traded funds. It will throw light on the portfolio’s asset allocation, stock sectors, style box rating, industry sectors and geographical exposure.
The only drawback of this trading tool is that it does not directly link to the investment account so portfolios have to be manually entered unless you acquire a premium membership.
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Budgeting Software: Finance apps that earn profits for you
Budgeting tools may appear to be an offbeat way to track investments yet several trading tools can help you to track how much you spend and invest in the markets. These finance apps will make life simpler and complex investments easier for you.
You can manage all your bills and payments in one place, check the prices of commodities and control stock portfolio with unerring accuracy and precision using these wonderful apps:
BlackGold: Adding a shine to your investments
This finance app enables you to track prices of crude oil, natural gas, gas and heating oil. BlackGold provides silver tracking, state wide gasoline tracking and a user interface that is ergonomically designed. This app is compatible with iPads, iPods and iPhones and requires iOS 3.1.3 or more recent versions.
Pageonce Money and Bills: Multiple benefits
Don’t think twice about downloading Pageonce Money & Bills, an app which allows you to track all finances in one place and gain reminders for bill due dates apart from tracking your investment transactions. This app is compatible with iPhone, iPad and iPod. It requires iOS of 3.0 or later versions for best results.
Venmo: Pay for your investments in one go
This has been called the crown jewel of all finance apps by Forbes magazine. This app links the bank account or trading account to the device and its rich reporting interface plus zero transaction fees for carrying out any payments is a major value addition. Venmo works equally well with iPad, iPod and iPhones and requires iOS of 3.1.3 or later.
Wikinvest Portfolio Manager: The portfolio in the palm of your hand
Wikinvest Portfolio Manager ensures the complete portfolio can be accessed within the palm of your hands, so that you can pocket good profits through regular tracking. This finance app imports brokerage holdings automatically and helps investors to stay on top of market news on the go. It works with all Apple devices and needs iOS 3.0 or more recent versions.
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Financial ratios: Making sense of financial data
Financial ratios can help in making sense of numbers and the company’s financial statements. They also help to isolate important bits of information and combine them into a meaningful whole. Interpreting numbers in the markets is more of an art than a science, but it is hard to master.
Price Ratios: Assessing if the price is lucrative
Price ratios are used to assess if the stock’s price is reasonable and are not only easy to use, but pretty intuitive as well. These are relative metrics used to compare financial performance of two companies, company over time or company’s ratio to a benchmark. The various type of price rations include the following:
- P/E or Price to Earnings Ratio
- PEG Ratio
- Price to Sales Ratio
- Price to Book Ratio
- Dividend Yield
- Dividend Payout Ratio
Profitability ratio: Assessing if profit is sizable
Profitability ratios, as the name suggests, indicate how efficient a company is at converting business operations into profits. Profit drivers the stock price and this type of financial metric is an essential tool in business, finance and investing. The various types of profitability ratios are as follows:
- Return on Assets
- Return on Equity
- Profit Margin
Liquidity Ratio: Assessing if short term obligations will be met
Liquidity ratio shows how capable a business is of meeting short term obligations. Why is liquidity important? This is because a company without adequate liquidity for paying short term debts may end up making unfavorable decisions to raise money as well. Tough times don’t last, but financially healthy companies do. The various types of ratios are as follows:
- Current Ratio
- Quick Ratio
Debt ratios: Assessing if long term health is nurtured
These ratios are concerned with long term health of a particular business through the impact of its capital and financial structure. There are various debt ratios such as :
- Debt to Equity Ratio
- Interest Coverage Ratio
Efficiency Ratios: Assessing if company’s resources are well used
These ratios assess how efficiently a business is employing resources in investing fixed assets and working capital. It mirrors the efficiency levels of the company’s management as well besides reflecting on its financial performance. The various types of efficiency ratios are:
- Assets Turnover Ratio
- Inventory Turnover Ratio
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Portfolio Management Software: Adding to growth
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Investors build wealth using the investment portfolio as a base. When the portfolio is small, freeware database tools may suffice. Investors and traders will find that there will come a point where basic trading tools will no longer meet fundamental portfolio management software needs.
Investment portfolio management tools enable investors to track, monitor, manage and analyze their portfolio investments. Independent portfolio management software program provides consolidation and to understand its value, you have to comprehend how this simplifies multiple investments across multiple accounts.
Having a unified investment portfolio management program enables consolidation, tracking, management and analysis of the complete portfolio using a central trading tool.
Quicken Premier Portfolio Management Software: X-Ray Interface
Portfolio management software users who prefer using desktops will find Intuit Quicken’s Premier 2015 software will rapidly improve their investment management efficiency. This software is equipped with state of the art X-ray interface. This software assists in micro management of money and provides macro portfolio tracking and performance review features to monitor and compare products in your investment portfolio.
This portfolio management software is a tad costly, but it more than makes up for its price by generating healthy profits. This software also provides a lot of convenience. You can import transactions from numerous online platforms, and engage in tracking cost basis, estimating capital gains while selling a holding and optimizing portfolio management.
This trading tool showcases portfolio performance apart from buying and selling decisions. It also displays updated portfolio values and tracks cost basis as well as capital gains. This is one of the top rated investment portfolio softwares.
Investment Account Manager: Extensive investment tracking
Investors looking for a top rated portfolio management software that does a whole lot more will strike gold with Quant IX Software’s Investment Account Manager Professional which is suited for investment tracking as well as portfolio management.
You can have a centralized portfolio management for stocks, ETFs, mutual funds, bonds, options, cash and much more. Software has been used by professional money managers as well as inventors worldwide since the 1980s.
Centralized secure portfolio allows users to see accounts in one centralized place. Multiple portfolios can be combined on a single report and customizable reports can be generated.
The software has an easy means of being set up and duplication apart from easy price securities to monitor and track your investments. Detailed transactions accounts for purchase, sales, dividend, expenses, interest, universal stocks, splits dividends. spin offs and more are available through this investment account manager.
Platform is associated with high quality chart graphics which plot your portfolios’ performance, asset allocation, income, diversification, maturity schedule and more.
Fund Manager Portfolio Management Software
Fund Manager is a comprehensive portfolio management software program with versions for investment advisors. individual investors, professional money managers and active trading. These features will be used to manage and track a wide portfolio comprising funds, stocks, bonds and other investment vehicles on the path to growth.
The well formatted Portfolio Editor employs a Windows Explorer like interface to manage investments and numerous portfolios. Different graph types and report types are available from this software. This software also offers advanced portfolio management features and the ability for exporting capital gains information.
Personal Portfolio Manager Software
From OWL, this neat investment as well as portfolio management software can be used by individual as well as professional portfolio managers. This analytical and investment portfolio management software tool is meant for individual investors or traders. Multiple portfolios can be set up using the features of this system. PPM enables investors to manage and track portfolios.
Stator Portfolio Manager Software
This is an efficient portfolio management software keeping traders in mind. This trading tool has facilities for complex charting and sub groupings for analysis and management purposes.
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Accounting Management Software
This includes solutions for managing the investment portfolio apart from accounting, reporting and client related tasks and key features include GIPS compliant presentation of performance reporting and wide range of securities are covered. Some of the best accounting management softwares include FC Portfolio by FundCount, Prospero by Sage, QED and many more.
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Benchmarking software
This includes web based CRM solutions with industry specific capabilities for management of office operations such as Dynamo, FrontPM, FrontERM, Front GP and more.
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Equities Software
Stock screening software covering securities namely fundamental and technical screens comes under this type of trading tool. Broker neutral multi assets trading platform software are also a popular choice. Wealth management, financial advisors and private banking services are also provided through this software.
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Risk Management Software
Risk and portfolio analysis associated with equity and mutual fund portfolios for money management and financial departments of corporations are provided through such software like Kraytis risk analyzer.
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Android Apps for Investing
Bloomberg for Smartphone is a unique app providing unique news and analytical content and up to date market data as well as portfolio tracking tools. This is only one of the many investment related Android apps which can work well on smartphones.
From stock markets to commodities prices and bond market, this app covers just about everything. Another popular Android app is Stock Market Heat Map which visually gauges the super performers and under-performers in the market. App based social networks like Scutify are also a good idea because it represents a community of investors who give useful insights.
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Conclusion
Stock market trading is not about just the right techniques. Having the correct trading tools is equally important. If your goal is to be a successful investor, these tools can help you get there. Investment vehicles only drive growth if you have the right trading. Make a smart choice and watch your investments multiply!
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