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by Finage at May 6, 2023 5 MIN READ
The world of trade is filled with countless opportunities to strike it big and the best traders use every available tool at their disposal. This includes trading apps, widgets and other advanced tools that in themselves consist of a litany of different solutions that can help one succeed. Among these tools are fundamentals, technical analysis tools like historical charts, real-time price abilities and access to news regarding the environment.
Now let’s have a look into the type of trading apps, widgets or platforms that can incorporate each of the above solutions. We’re also going to look at the tools themselves and define them as well as see their importance in the whole thing.
- The importance of each aspect
- Trading fundamentals
- Technical analysis
- Real-time abilities
- How it all works
- Operating processes
- List of options
- Final thoughts
If you look at the list of trading platforms currently out there, you’ll find that a good number of them make use of the attributes in question. Let’s look closely at each attribute and see just how valuable it is:
Fundamentals refer to metrics traders use to pick stocks that are based on the state of companies or the larger industry and economy as a whole. Trading solely using these metrics is a strategy often employed by those who are going long-term and the following are a few things that guide their decisions:
- Dividend yield
- Price-to-earnings ratio
- Earnings per share
The words technical analysis may not appear in the title, but its description proves otherwise, as it simply refers to the use of historical data, present via charts to help make decisions. Unlike fundamentals, it focuses on past trading volumes and prices to gauge any overall or behavioral patterns that can be used to make predictions. This reliance on past data also makes it perfect for short-term trading.
Be it through direct information from news sites or through the use of third-party data streaming, it’s fair to say that real-time data is quite important. Access to real-time data and its analytics in the form of quotes and prices is a key element for having success in the trading field because things move so quickly. If you decide to use delayed data, you may miss out on some major opportunities, which is why it isn’t ideal.
Now that we know how important each of the above elements is, let’s look at how, for example, an app using these solutions can work. There are many great solutions out there of this kind, for example, one of them is Finage. It is a data providing company that offers stock, Forex, crypto, indices, ETFs, and financial statements, real-time and historical data. It helps to simplify financial data and computing.
Moreover, it is driven by a team of software engineers that over a decade has been helping their customers in developing financial apps and platforms with intuitive usability and providing financial data solutions. Finage's technology-first approach and user-friendly platform make it a leader in providing accessible and comprehensible financial services for individuals and businesses. Now let’s look at how most of the tools, apps, and other similar solutions can operate and work.
The idea of the described above trading application is that it uses as much data as is available in real-time and often comes from news sites and third-party vendors, including historical data charts and fundamental data. Said data will help inform both the basic and the technical aspects of the decision-making process.
While using fundamental and technical analysis separately is common, the use of both is even more helpful, as they provide more information to work with. Using both is particularly effective when used in the form of screeners which are tools found on trading apps that narrow down traders’ options to help find one that meets the criteria entered.
The entire process of using such an app almost centers around these criteria and makes the process look like the following:
- Trader on the app uses fundamentals first and with the real-time data in mind, enters the desired criteria into the screener
- Based on the trader’s strategy, the criteria begins to narrow down options to a few more the criteria, the fewer options
- The remaining list of options can then be passed through a technical screen for further narrowing
While thinking about this, it's important to remember that simply going through the charting route is another effective mode of operation. This begins with a list of options being passed through a technical screen, after which further narrowing down occurs via scanning of charts to find points and entries that make sense. The process finally ends with a more detailed and strenuous analysis of the charts in search of the right option, which can be traded.
Access to the most effective tools, apps, and platforms for navigation in this undeniably advantageous niche is quite crucial for proper investing decisions. They enable investors and traders to make informed decisions and explore broader financial opportunities. For example, the over US100 index is only part of what’s available on the larger sphere, and having the best tools in your list can help navigate you through better decisions which is already quite beneficial. This gives you more chances to analyze what’s in front of you and thus help make the best decisions.
Applications and other solutions that incorporate real-time data, as well as fundamental, historical data and technical analysis or charts, are highly sought after and incredibly valuable these days. While these resources offer immense potential, it's essential to approach them with a discerning eye. In particular, you have to work with a reliable company that offers trading solutions and services in the niche.
It is crucial to take a close look at screen displays, as they can sometimes present information like dividend yields in a potentially misleading manner, etc. Nevertheless, modern apps and data solutions offer users numerous benefits, including enhanced decision-making capabilities, access to a wealth of financial data, and the ability to stay up-to-date with market trends in real time.
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