There are many useful tools for investors, and we narrowed down the research for you! If you choose to invest in individual stocks, having the right tools can help you find the best deals and grow your portfolio over time.
In the following, we will talk about 4 important tools for investors who want to be successful in the industry.
Earnings report calendar
Farlex Financial Dictionary defines an earnings calendar as the “schedule according to which various publicly-traded companies announce their earnings for a certain period.” The earnings are usually announced by quarter-end — and end-of-year. “The earnings calendar organizes these announcements by date and company.”
Earnings data is important as it can help investors and analysts forecast future growth. An earnings calendar provides an alphabetical listing of all companies making earnings announcements on a specific date, as well as the time and manner of the announcement. Moreover, you can compare companies that operate in related industries with earning reports.
Some examples of leading earnings calendars include:
Dividend Tracker
A dividend tracker is an app or web-based platform that allows you to monitor and manage your dividend-paying stock portfolio. Keeping track of your dividend stock returns as your investment portfolio grows is challenging. You don’t have to spend time manually calculating your returns with dividend trackers. Instead, a dividend tracker can assist you in doing just that.
Moreover, a good dividend tracker can help you identify stocks to add to your portfolio and provide information on companies planning to increase, decrease, or eliminate dividend payments.
Here are some examples of the best dividend tracking apps:
Stock charts
Stock charts represent a stock’s price movement over time and space. Charting is essential for any trader who uses technical analysis, which involves analyzing past movements to estimate future performance.
Stock charts help you display a security’s performance over time, allowing traders to identify patterns and examine various technical indicators. Users can use charts to investigate a stock’s history, identify volatility, compare multiple securities, and benchmark performance against indexes such as the S&P 500.
Tradingview is a stock chart software that provides excellent technical and fundamental analysis. Other recommended stock charts include Stockcharts.com, FinViz, and Yahoo Finance.
A Discount Brokerage Account
A brokerage company handles buy and sell transactions at a stock exchange like the NASDAQ or the NYSE, acting as the middleman between buyers and sellers. Brokerage companies would often charge a fee for this service. However, with the disruption of technology, most brokerage companies must modify their business models to provide commission-free trading.
Discount brokers do not provide such services, including individualized investment advice and estate and tax preparation, as full-service brokers do. This means that retail investors have more control over their financial planning.
Discounted trading is the biggest draw for seasoned investors who are active in the market. At the same time, retail investors can build their portfolios in low-fee mutual funds or ETFs while keeping the minimum costs.
However, one of the most important tools for investors is their minds. You should learn to take care of your money even if you are not an investment guru. Take the time to train your mind to maximize your profits.
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