Did you know there are more than 4200 stocks in the United States? And this number keeps growing up each year, leading to more than 5000 indexes, making it really hard to keep consistent track of the ones you follow or want to check their performance over time. Fortunately, you can opt to use a stock tracker, there are plenty in the market and most of them offer different tools to make tracking and researching hassle-free.
Suppose you are a trader or just an investor. In that case, chances are you do research and select a bunch of stocks to keep an eye on but many times keeping an eye on the ones you specifically care about is not an easy task due to the number of stocks, the volatility, and the fact that most exchanges shows only the trendy ones. A stock tracker makes all of this easier and is one of the best ways to find stocks for trading.
A stock tracker is an app or software that allows its user to monitor and track financial assets you’re interested in following, or you’ve bought. Most of the features are done to make the tasks of researching, filtering, and tracking easier.
Many times these will let you analyze stocks, research for investing and check financial news, but the features of the stock tracker will vary a lot.
Related Read: Best Movies About the Stock Market
Depending on what you’re looking to achieve, different trackers will be more suitable for you, but some common features you’ll find around are the next ones:
There are many types of traders and types of investors that look to different assets, that’s why an idyllic stock tracker will offer you a wide range of assets, like US and International stocks, FOREX, commodities and cryptocurrencies. Acknowledging the importance of a holistic market view, these trackers also often include indices in their offerings.
While individual stocks and commodities offer insight into specific sectors, indices, encompassing a diverse range of stocks, offer a comprehensive view of market trends and sector performances. They can be a valuable addition to your research toolkit, providing a macro-level perspective that individual stock analysis might miss. For further insights into this area, check this.
If you’re an active investor or trader, you’ll be in the position to wait for a stock to hit a certain price and that’s when an alert comes to play, that way you won’t miss any potential good buy or sell.
Alerts are triggered by price changes or price limits, stop losses, earnings, volume spikes, or more. Usually, you’ll get an SMS, email, push notifications, or even a call if an alert is triggered.
Related Read: Best Books to Learn About Stock Market
A market screener is a way to see financial assets, you can filter or sort the assets by the metrics you prefer the most, like price, exchanges, market cap, events, movement, or fundamental data.