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What is a Stock Tracker and What Top Features It Must Have

With the extremely large number of stocks in the market to trade, it can be a daily struggle to keep track of stocks to trade. 

So in this post we will look at the best way to keep a watchful eye on potential stocks to trade with the use of stock trackers. 

We will go over the most important features you should be looking for when selecting stock trackers as well as providing practical tips for selecting a stock tracker to use.

Stock trackers are an excellent way to keep a watchful eye on interesting stocks to look into for trading as per your system and preferences. But a stock tracker is a tool that is best and most effectively used by a trader who has mastered the fundamentals of trading principles and financial market movements.

This is someone who has put time into learning and practicing the basics to a level that they can make the most effective use of a valuable tool like a stock tracker.

Why Use Stock Trackers?

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.

stock trackers as a valuable trading tool
There are more than 4200 stocks in the United States and this number keeps growing making it difficult for traders to keep consistent track of them all and to check their performance over time.

What is a Stock Tracker?

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.

Stock trackers are used to keep tabs on stock prices, market trends, portfolio performance as well as news in the stock market among other useful features that traders can take advantage of to improve their trading performance. They can be accessed through desktop platforms, mobile apps or web-based apps.

Related Read: Best Movies About the Stock Market

Features to Look for in a Good Stock Tracker

Depending on what you’re looking to achieve, different trackers will be more suitable for you. Below we discuss the features you should be looking for in a good stock tracker.

User Interface and Ease of Use

A good stock tracker should have a user-friendly interface that is easy to navigate. So you should look for intuitive design, customizable dashboards, and easy access to essential features like watchlists, portfolio tracking, and market news.

Real-Time Data 

Real-time data is a key feature good stock trackers must have. A good stock tracker provides real-time or near real-time data for stock quotes, market prices, and other relevant information. And because timely data is crucial for making informed investment decisions this feature is non-negotiable in stock trackers.

Wide Range of Assets

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.

Real-time data is a key feature good stock trackers must have. A good stock tracker provides real-time or near real-time data for stock quotes, market prices, and other relevant information.
Real-time data is a key feature good stock trackers must have. A good stock tracker provides real-time or near real-time data for stock quotes, market prices, and other relevant information.

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.

Different Types of Alerts and Notifications

Another non-negotiable feature of a good stock tracker are alerts and notifications.

The ability to set customizable alerts and notifications is essential. You should be able to receive alerts for price changes, news updates, earnings announcements, and other events related to your investments.

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

Market Screener

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.

Tips for Choosing a Stock Tracker

Let’s discuss some practical tips you should consider when selecting stock trackers to use in your trading. Remember that these trackers will be used almost daily so you need to select the right one for you.

A stock tracker can be an incredibly valuable tool for traders that can be used daily to track literally thousands of stocks you could potentially monitor and track for viable trade set ups.
A stock tracker can be an incredibly valuable tool for traders that can be used daily to track literally thousands of stocks you could potentially monitor and track for viable trade set ups.

Compare Features and Pricing

Create a checklist of the features you need in a stock tracker, such as real-time data, portfolio tracking, research tools, and alerts. Compare the features offered by different platforms along with their pricing structures to find the best value for your investment needs.

Utilize Free Trials or Demo Versions 

Many stock trackers offer free trials or demo versions of their platforms. Take advantage of these offers to explore the platform’s features, user interface, and usability. This hands-on experience can help you make an informed decision before committing to a subscription.

Read User Reviews and Ratings 

Look for user reviews and ratings of stock trackers on reputable websites or app stores. Pay attention to feedback regarding ease of use, reliability, customer support, data accuracy, and overall user experience. Real user experiences can provide valuable insights into the strengths and weaknesses of each platform.

Consider Mobile Accessibility 

If you prefer monitoring your investments on-the-go, prioritize stock trackers that offer mobile apps with robust features. Ensure the mobile app provides essential functionalities such as real-time quotes, portfolio tracking, alerts, and secure trading capabilities.

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Evaluate Customer Support 

Check the availability and quality of customer support offered by the stock tracker. Look for platforms that provide responsive customer support through email, phone, live chat, or support tickets. Good customer support can be crucial when you encounter technical issues or have questions about using the platform.

Check Data Accuracy and Reliability 

Verify the accuracy and reliability of the stock tracker’s data sources. Ensure that the platform sources data from reputable financial institutions or exchanges to provide reliable real-time market information, stock quotes, and financial data.

Stock Trackers: Final Thoughts

A stock tracker can be an incredibly valuable tool for traders that can be used daily to track literally thousands of stocks you could potentially monitor and track for viable trade set ups.

There are a number of very useful stock trackers out there and we have discussed some of the best ones to use in this post as well as providing practical tips for selecting the best stock tracker for you.

But really the best stock tracker for you will depend on your preferences and it’s a good idea to try out a few and see which one best suits your preferences.

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