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Tools For Investing And Trading

There are countless tools out there that claim that they will make a better trader or investor. It is often tough to distinguish whether these tools work or not. I figured that I would share some tools that I think make investing easier. One of the most useful sites for investing in my opinion is Yahoo! Finance (YHOO). Information is easy to find on the site and the news section is very informative. However, I don't use Google Finance (GOOG) because I noticed that some of there charts are inaccurate. For those of you who into investing in micro cap equities that are OTCs make sure that you look at, the site is very useful. I personally don't invest in OTCs because of the risky nature and many OTCs are just pump and dumps., it is much easier to tell if the company is worthy of an investment or if it is a pump and dump that should be shorted. For more information on pump and dumps, read my SA article on Northumberland Resources (NHUR), which is a classic example of a pump and dump. For actually finding companies to trade or invest in I would highly recommend trying out Equity Feed. The site advertises itself as being a "day trader's best friend", but I have used it in the past to find Nasdaq small caps. The software allows you to scan for certain stocks based on the criteria that you input. The scan that I normally run everyday is based on abnormal volume, which helped me to find great companies like Research Frontiers (REFR) and Ecotality (ECTY). Also, I usually get news from the scanner. However, the service is somewhat pricey at $180 dollars per month. In addition, I also like to use Y Charts. The free service allows investors to see things such as historical P/E ratios and historical dividends. My current broker is Fidelity and there service is fantastic. They provide high quality research reports about stocks and they have a feature called equity summary score, which provides an analyst score for stocks. I have also found that is an excellent places to find new financial products and tools. I don't use many tools for investing, but I hope that this post has helped you find some new financial tools and products that you can use.