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8 Powerful Hidden Features in Stock Market Apps You’ve Probably Missed

8 Powerful Hidden Features in Stock Market Apps You’ve Probably Missed

Let’s face it. An upper hand is an upper hand.

If you’ve dabbled in the stock market, or you’re a seasoned investor, it’s always the little things you know that not too many others know, that can mean the difference between a good day and a bad day trading.

Thankfully, we live in a time where apps are disrupting every industry. The stock market is no different either, and there’s plenty of apps out there which can keep you informed and trading with the same level of clarity as a Wall Street veteran.

While the majority of the apps I feature here have a large number of dedicated users, I’ve explored some of the lesser-known (or misunderstood) features that can turn you into an incredibly effective stock market investor.

Here are six products with eight features that’ll give you a refreshing perspective of the stock market.

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INDX.guru

This stock-monitoring app has been dubbed by critics as “the champion for everyday investors,” and for a good reason. It’s free, and improves on other comparable stock market products that can set you back as much as $28,000. It’s simply a beautiful dashboard feeding over six million points of bias-free information like news, Tweets and market positioning about any stock you wish to follow (ASX only at the moment, though NASDAQ and NYSE are coming).

1. Heat

What if you could be alerted the minute media attention began to surge about a company whose stocks you follow? With INDX.guru’s “heat” feature, you’re able to instantly assess why there is a sudden influx of interest and take necessary action.

As a rule of thumb, 50% is the normal amount of media attention for a publicly listed company. Anything under that and the company is flying under the radar. If it hits 90%, something serious is happening.

2. Sentiment

Tracking price alone just doesn’t cut it when it comes to trading stocks. You need more clarity about price movements, relative to other similar companies in the industry. Enter the “sentiment” feature, which tells you how the price of a stock is performing, relative to a selected market index.

To decipher sentiment for a company you’re tracking, 50% means the price is travelling with the market, 30% or below is pretty worrying, and 70% or over, things are looking good.

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(Disclaimer, I work with INDX.guru)

StockTwits

StockTwits is one big community, talking about one thing and one thing only—trading. The inventor of the cashtag ($LLL symbol used widely on Twitter), it’s the first product to truly assist social discussions about investing.

3. Social Signal Heatmap

While this isn’t so much as “hidden,” it certainly gives you an overall insight into the volume of chatter geared towards a specific industry, and helps paint a better picture of overall market interest.

4. Unusual Social Volume

Again, not so hidden, but intriguing nevertheless. StockTwits tracks noise around individual stocks, whether they’re unusually high, or falling in interest significantly. It’s great way to discover what passionate investors are interested in, using social data.

eToro

This established market player is one of the first-movers in the “new age” of stock market apps. The most enticing aspect of eToro was the zero learning curve in understanding the stock market and the speed at which you could make a trade. The way they achieved this is by “copytrading.” Research the best performing investors on eToro’s platform, and set a budget to literally copy and paste their every move.

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5. Popular Investor Program

If you’re great at what you do, and everyone seems to be copying your every move, this lesser-known feature helps you earn a second income, just for doing what you already do. Eligibility is based on on how influential and active you are on eToro, as well as how many copiers you attract on a daily average, and your overall trading performance.

Robinhood

After getting your up-to-date information about what to buy or sell, there’s one app helping you execute those trades, for free. That’s Robinhood, which has now helped transact well over $1 billion in trades and saved their users $22 million in brokerage fees. The app is simple: see a stock, buy a stock, no hidden fees.

6. Cards

This is a relatively new feature in Robinhood, which tailors information about stocks you’ve invested in. The most useful feature here is a summary of top movers in the market today, as well as any top movers you may have invested in.

Stockpickr

This offering by popular investment publication, TheStreet, is mainly a forum where users can discuss everything about the stock market with other users, as well as post questions and have community members answer them. There’s also a DIY portfolio builder, where you can add stocks you’re investing in, or are considering investing in, and get commentary about it.

7. Track Warren Buffett

Using access to “various databases and SEC filings,” Stockpickr is able to track the holdings of many of the top mutual and hedge funds and super investors. This includes Warren Buffett, as well as George Soros and Wally Weitz, and gives you an insight as to how the pro’s portfolios are looking at this point in time.

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Betterment

Sometimes, you just want to let the professionals do it. While dealing with a traditional broker may not be for you, Betterment blends the best of both worlds with smart automation and real expert influence, to automate your investing. Betterment helps you build personal wealth by taking some of your money each month, and making diversified investments with it.

8. Smart Deposit

This is a great tool that helps you invest even more of your money, by taking anything you have in excess from your bank account and automatically investing it. Simply, you tell Betterment how much you need to have in your bank account at any given time, and Betterment will take anything over that amount to add to your investment portfolio.

Remember: The above is general information only and not advice. Trading carries risk; make your own judgments and decisions, always.

Featured photo credit: INDX.guru via INDX.guru

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4 Ways to Send a Money Transfer Online INDX.guru 8 Powerful Hidden Features in Stock Market Apps You’ve Probably Missed 4 Apps To Turn You Into A Stock Market Pro (You Should Use) “I would be so successful if someone just gave me a shot”, you might think. Why not be the one to give youreself a shot? Many people out there have mindsets and attitudes that set them up for failure. They might answer my question with, “That's a crazy idea!” or “I've already tried that!” but how much of that is just making excuses? When it comes to limiting your own success, there are ten particular mindsets that turn those answers into self-fulfilling prophecy: 1. Loafing You'll write that novel just as soon as you're done with your favorite show. Oh, but now you're hungry. You'll get started after a snack. Oh, but now that snack has made you sleepy – a little nap couldn't hurt, right? One of the hardest parts, and the most obvious, of achieving success is the actual work. Procrastinating, making excuses or tricking yourself into loafing is just going to cement the fact that nothing will ever get done. It might not sound pretty, or even too easy, but the easiest way to get to success is to just jump in and get going (which is exactly how I got started). 2. Blaming It's not your fault you're not successful – the industry is bad, you don't have the money, etc, etc. When it comes down to it, however, who is the one responsible for your success? You. This is the day and age where people are launching successful start-ups in a few months, getting published online and finding their way to success one way or another. Some things might be out of your control, but blaming others is just going to waste the energy and time you need to get going. 3. Sour-grapes Being envious of the success of others is almost as bad as blaming them. All the time and energy you could be putting into your own goals is going towards a person who more than likely has done nothing but show you that the goal is attainable. You don't have to be applauding their success, but being envious and sour about it is a waste of time – let it roll off your shoulders and dig down towards accomplishing your own goals. 4. Minimizing others success Again, you don't have to be cheering and raving about the success of others, but minimizing their accomplishments looks bad on you and on your own goals. If you attained success, would you want others rolling their eyes and treating it like it is not a big deal in the slightest? I highly doubt it. “So they climbed Mount Everest, big whoop. Plenty of people have done it before”. Have you? 5. Talking You're going to do this, you're going to do that – the proof is in the pudding, ultimately. Talking about your goals and what you're going to accomplish is all well and good, but talking time is better spent actually doing. Talking about your goals has actually been shown to make you less likely to reach them, so zip up those chattering lips and dive in. 6. Making assumptions You know what they say about the word ‘assume’, it makes (a word I’ll leave out of this article) out of ‘u’ and ‘me’ . Unsuccessful people are the best at making assumptions without considering other outlets or opportunities. Missed chance after missed chance can put anyone behind or completely ruin something that you poured a lot of hard work into. People are often surprised at what happens if they take a chance instead of listening to that little pessimist inside their heads. ‘Never assume’ is good advice and it is a mindset you should get out of as quickly as possible. 7. Procrastinating This one is obvious, isn't it? 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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

Reference

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