As you’re building your portfolio, you’ll probably rely on a number of tools to manage your investments. We outline a few popular ones.
7 Tools to Help Make Trading and Investing Easier
The markets can be overwhelming. Fortunately, there are tools for investors to help navigate the often chaotic and ever-changing financial market.
“No two people trade and invest in the same way,” said Brian Bachelier, vice president of active trader strategy at Scottrade. “Fortunately, Scottrade provides tools necessary to help people with what they’re looking to accomplish.”
Here are a few tools available to clients that can help people reach their financial goals.
News Visualization: This tool provides a fast way to find news stories for the positions in your account using an easy-to-read visual format. Each of your positions is represented by a rectangular tile and each tile is color-coded, based on the recency or the quantity of the stories, or alphabetically based on the security. You can click any tile to see a chart and the new stories for that symbol.
Watch List Heat Map: This feature is a heat map view of watch lists, which can help you quickly identify gainers and losers for trading and research opportunities. Laid out in a grid, securities with positive performance over a period of time will show up in shades of green (the better the performance, the darker the green). Securities with negative performance will show up in red (the worse the performance, the darker the red). Clicking on a square tile will give you detailed quote information for that symbol. You can customize the time range of the performance as well as how often the grid auto-refreshes.
Predefined Screens: High-level screening criteria (e.g. share price, dividend yield, PEG ratio) is available to help get you more comfortable using the screening tool. You also have the ability to modify the screens.
StockTwits® Integration: You have the option to add an extra column to the Watch Lists for StockTwits®, which provides the opportunity to measure the conversation taking place on Twitter about companies you’re following.
Market Movers: This tool, found under Market Data in ScottradeELITE and Scottrader Streaming Quotes, displays securities that have reached a high or low for the current day as well as new 52-week highs or lows. The list can be filtered by price range, net change and percentage change.
Top Performers: This tool, also available to ScottradeELITE® clients, offers a fast way to evaluate or trade specific lists of stocks or options. Once either stocks or options are chosen, the securities can be filtered by the following type: most active, net gainers, net losers, percent gainers and percent losers. This feature is also available in Scottrader Streaming Quotes (called Top Ten).
Market Events Calendar: The market events calendar provides a window to key market events, including the day’s quarterly earnings, new IPOs and economic reports taking place. Although not formally launching until later this year, clients can test the Market Events Calendar on the Launching Pad, which showcases both upcoming and recently released tools. Clients can access the tool by logging into their accounts and clicking the Launching Pad link on the left menu.
What tools do you find most helpful when investing or trading?
Next steps: Scottrade® clients have the opportunity to test tools from the Innovation Lab while still in development and offer valuable feedback by logging in and visiting the Launching Pad. Not a client? Check out a description of some of the online trading tools.
The information and content provided is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product, or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances, and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from your local branch office. Supporting documentation for any claims will be supplied upon request. Consult with your tax advisor for information on how taxes may affect the outcome of these strategies. Keep in mind, profit will be reduced or loss worsened, as applicable, by the deduction of commissions and fees.
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