The stock market is huge. It has over 5,000 companies listed. Not to mention, the countless number of derivatives contracts, bonds, mutual funds, ETFs and other assets being traded in the market.
How do you keep track of all this?
Stock market software
This is where the stock market software comes handy. These are applications, tailored for the desktop or mobile, that help you monitor the markets, place buy or sell orders, get alerts, and even conduct research.
Why is the need for stock market software?
There are many reasons why you need share market software:
- Monitor: At one point of time, it is not possible for you to monitor multiple assets, especially if they belong to different classes. Stock market software can help you create watch lists that help you look at the price trends at one go. No more switching between tabs and multiple websites.
- Cumbersome analysis: Often, it is easy to decipher price trends right when compare prices or when they are written in a tabular format. However, if you are a more savvy investor, you may want to conduct detailed financial and technical analyst of the stock price and its underlying company. What may otherwise have been a cumbersome process taking a lot of time, is mad easy using stock market software. This uses charts and other graphical formats to help you with your research.
- Live market view: During market hours, prices fluctuate every second. This is too confusing to follow. Stock market software makes following the market easy. It also sends alerts if a stock price or index that you are interested in has hit a new high or low.
Benefits of stock market software:
- Single trading platform: Different assets trade on a wide array of exchanges. Stock market software helps you trade all of these in a single platform. This includes equities, mutual funds, bonds, ETFs, and even currency derivatives.
- Portfolio management: A diversified portfolio is a must for a savvy investor to reduce risks. However, the downside of this is that monitoring individual securities in your portfolio becomes problematic. Share market software displays your portfolio and its assets in an easy way to convey your profits and losses. It also displays your unrealized gains or losses for stocks in your kitty. So next time you want to sell, a look at your portfolio will help you make better decisions.
- Time-saving: In the stock market, a single second can matter a lot. Share market software does not require you to fill long forms every time you conduct trades. This helps you place orders quickly, thus saving you a lot of money.
- Alerts: Many software also provide regular alerts if a stock has hit a target price, or if it falls below a certain point. These are customized to suit your needs. A timely alert can be the difference between profits and losses.
- Reduce costs: Share market software sometimes come with cheaper brokerage cost. You also save a lot of money in avoiding painful administrative processes like mailing forms and so on. What’s more, some software are equipped to undertake extensive research. This may have otherwise cost you money in terms of expert consultation fee, etc.
Kotak Securities is one of India’s leading stock broking firm offering stock trading, mutual fund and IPO investing service’s along with a research division specializing in Sectoral research and Company Specific Equity Research.Express your views on their Facebook Page and Twitter Handle (@KotakSecurities) or you can also browse through their various videos on YouTube and Slide Share.