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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? It's about the same as loafing, but even worse because it applies to multiple areas of our lives. That big project? Eh, its not due for a week. My dreams? Eh, I'm going to be taking a class to learn how to write in a few months, I can relax until then. Procrastinating isn't the friend of successful people. Many of them had to learn how to either make procrastination work for them or to barrel through it and press on, even with the proverbial sloth demanding you park it on the couch. 8. Naysaying “It will never work. It is impossible, I just can't ...”. That is about when it is time to take a good look at yourself. There are a plethora of people out there that once thought the same thing: you can't get a man into space, you can't find a way for a human to fly, you can't cure a disease. Well, people did what was once considered impossible. If they can defy the entire world, why can't you defy your internal pessimist and get there? Don't tell yourself that it is impossible. 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Last Updated on January 2, 2019

How Personal Finance Software Helps You Get More Out of Your Money

How Personal Finance Software Helps You Get More Out of Your Money

Do you know what mental health experts point to as the biggest cause of stress in the United States today? If you said “money,” then ding, ding, we have a winner!

Three out of four adults today report feeling stressed out about money at least part of the time. People are either worried about not having enough money or whether they’re putting the money they do have to use in the best possible way.

Your money is either in charge of you or you’re in charge of it, there’s no middle ground. Using some type of personal finance software can help alleviate some of that money stress and better allow you to manage your money effectively. Without it, you may just be setting yourself up for constant financial worry. Life is already tough enough and there’s no need to make it more difficult by simply hoping your money issues will all work out in your favor. Hint: they won’t.

This guide will help you to understand how personal finance software can better assist with both accomplishing long term financial goals and managing day-to-day aspects of life.

Whether it’s tracking the savings plan for your child’s college fund or making sure you won’t be in the red with the month’s grocery budget, personal finance software keeps all this information in one convenient place.

What Exactly is Personal Finance Software?

Think of it like the dashboard in your car. You have a speedometer to tell you how fast you’re going, an odometer to tell you how far you’ve traveled, and then other gauges to tell you things like how much gas is in the tank and your engine temperature. Personal finance software is essentially the same thing for your money.

When you install this software on your computer, tablet, or smartphone, it helps to track your money — how much is going in, how much is going out, and its growth. Most personal finance software programs will display your budget, spending, investments, bills, savings accounts, and even retirement plans, levels of debt, and credit score.

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How It Leads to Financial Improvement

It shouldn’t come as a surprise, but people who regularly monitor their finances end up wealthier than those who don’t. When you were a kid, keeping track of all of your money in a porcelain piggy bank was pretty easy. As we get older, though, our money becomes spread out across things like car payments, mortgages, retirement funds, taxes, and other investments and debts. All of these things make keeping track of our money a lot more complicated.

Some types of personal finance software can help make things a little less complicated, setting you up to meet financial goals and taking away some of the stress associated with money.

Even if you already have a Certified Financial Planner (CFP) some type of personal finance software can be of great benefit. Whereas CFPs focus on the big picture of your money, they don’t handle the day-to-day aspects that determine your overall financial health.

It’s also not nearly as complicated as you might think and can take out a lot of the tedium that comes with doing everything on an Excel spreadsheet or with a pad and pencil.

Types of Personal Finance Software

When it comes to personal finance software, it generally fits into two categories: tax preparation and money management.

Tax preparation software such as Turbo Tax and H&R Block’s software can help with everything from filing income taxes to IRS rules and regulations and even estate plans. Plus, there’s the benefit of filing online and getting your refund check a lot faster than if you were to mail off your forms after waiting in line at the post office.

For the purpose of this article, however, will be focusing more on the personal finance software that aids with money management.

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Money management personal finance software will help you to see the health of your cash flow, pay down debt, forecast for expenses and savings, track investments, pay bills, and do a host of other things that 30 years ago would have practically required a team of accountants.

When to Use Personal Finance Software

So far we’ve gone over what exactly personal finance software is and how it can be a benefit to your money. The next logical step in this whole equation is determining when it should be used and how is the best way to go about getting started using it.

Below are four of the most common and practical ways to use personal finance software. If all or any of these apply to you and your money, then downloading some type of personal finance software is going to be a smart move.

1. You Have Multiple Accounts

There’s a good chance that when it comes to your money, it’s in more than one place. Sure, you probably have a checking account, but you may also have a savings account, money market account, and retirement accounts such as an IRA or 401k.

If you’re like the average American, you probably have two to three credit cards as well. Fifty percent of Americans also don’t have loyalty to just one bank and spread their money across multiple banks.

Rather than spending hours typing in every detail of every account you have into a spreadsheet, many programs allow you to easily import your account information. This will help to eliminate any mistakes and give you a bird’s eye view of everything at once.

2. You Want to Automate Some or All of Your Payments

Please don’t say that you’re still writing out paper checks and dropping each bill in the mailbox. While it’s noble that you’re doing your part to keep postal workers employed, we’re 18 years into the 21st century and you can literally pay every bill online now.

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There’s no need to log into every account you have and type in your routing number either.

With personal finance software you can schedule automatic payments and transfers between all of your imported accounts. Automatic transfers will help to make sure you have the necessary funds in the right account to ensure all bills are paid on the appropriate date. Late fees are annoying and do nothing but cost you money. It’s time that you said goodbye to them once and for all.

3. You Need to Streamline Your Budget

Perhaps the best feature of personal finance software is that it allows you track everything going in and out of your virtual wallet.

Nearly every brand of personal finance software out there has easy-to-read graphs and charts that allow you track every cent you spend or earn, should you choose. You might be pretty amazed when you see just how much you spent on eating out last month or if you splurged a little more than you should have on Christmas gifts last year.

Every successful business on the planet has a budget and using personal finance software can help you trim the fat on your spending in ways that affect your everyday life.

4. You Have Specific Goals to Meet

Maybe it’s paying off debt or saving for up something like a European vacation. Whatever your financial goal is, whether it’s long-term or short-term, personal finance software programs are one of the savviest ways to go about reaching those goals.

You can do everything from set spending alerts to notify you when you’re over budget to automating what percentage of your paycheck goes to things like retirement investments. The personal finance software that you choose should show you exactly how close you are to hitting those goals at any given time.

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How to Get Started

From AceMoney to Mint and Quicken, there ’s no shortage of personal finance software apps out there. Many of these programs are free to download and will allow you to pay bills, invest, monitor your net worth and credit profile, and even get a loan with the swipe of a finger.

Other programs may only offer you limited services and will require a one-time fee or subscription to unlock all that they offer. These fees can often vary from as little as two dollars to 50 bucks a month.

It’s best to start off with the free version and then gauge whether you’re able to accomplish everything you’d like or if it’s worth exploring one of the paid options. Often times the subscription programs come with assistance from financial planning and investment experts — so that can be a real benefit.

When deciding which personal finance software program to use, it’s also important to look at how many accounts you wish to monitor. Certain programs limit the number of accounts you can add. Be sure that if you have checking, credit card, and investment accounts to monitor, that you choose a service that can monitor them all.

Finally, when looking around for the right personal finance software that meets your needs, make sure that you’re comfortable with the program’s interface. It shouldn’t be expected that you recognize every single feature instantly, but if the features don’t seem readable and manageable to you, then you’re not as likely to use it and get the full benefits.

Final Thoughts

Personal finance software can go a long way in helping you to take control of your money and meeting your financial goals. It’s important to note, however, that some focus more on budgeting and expense tracking while others prioritize investing portfolios and income taxes. Explore several different programs and read reviews to find the one that’s right for you.

In this day and age, managing one’s personal finances in a secure manner that allows the user to have a real-time visual representation of their money is easier than ever before. With the numerous applications that are out there — both free and subscription-based — there’s no reason that every person can’t take control of their money and ensure they’re making smart money moves.

Featured photo credit: rawpixel via unsplash.com

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