So, you’ve managed to get yourself into the 21st century and join an investment platform, you’re ready to see the shares sail into your portfolio and nothing but champagne and strawberries for the rest of your days. Well, it is nice to dream, the reality is that people who have these lifestyles from investing often didn’t do it through luck – sheer will, hard work, and tools like a stock chart and a budget calculator will get you everywhere, even with investments.
How does one find the ability to work harder than the next investor? There are many prevailing theories hidden behind paywalls from TikTok influencers, but the truth of the matter is, there is no magical formula. Don’t fret however, there are tools like a stock chart or screener that will let you traverse the unknowable terrain of the ASX and give you a true insight into how the market behaves, allowing you to find your own formula and methodology that befits your style, goals, and experience.
You may have already seen ads for a stock chart online or through your current platform for investments, while there are many good free ones, some of the savvier investors tend to pay a little extra for a stock chart, not for a Machiavellian reason, but more so because some are truly worth it.
Why Can’t I Use A Free One?
Now, don’t get us wrong, there are a number of decent free tools out there for your investment strategies and executions, the platform you are currently using could potentially have a stock chart included with your portfolio as well. These are not horrendous options to consider, however keep in mind that each one will have a slight variation so its up to you to determine its true efficacy.
Free doesn’t necessarily translate to ‘bad’ every time of course – but it helps to spend a little extra on a stock chart to ensure you have access to the latest modeling data and can adjust your parameters to perfectly suit your style.
The Features To Watch Out For
Customisation is a major factor of consideration for anyone who is considering getting into the investing game, or if you’re simply upgrading your arsenal. A premium stock chart will have all the bells and whistles you’ll ever need. The technical indicators you will be looking at will determine a lot about whether or not your prospective stock chart is any good.
One very useful feature for people is split screening your stock chart to keep an eye on several trends at once, you’ll likely see this in the background of profile photos a lot, but it really does serve a purpose for more than looking like an NFT salesman.
Another key feature to keep an eye on is news alerts. You may not think this is too relevant because you can google search, which is true to an extent. However, some of the better examples of a stock chart have intuitive association settings that streamline information and filters relevant information for your selected companies.
Expert advice is always being offered by everyone and their dog. While there are some nuggets of truth out there, it’s always best to determine a strategy for yourself, a stock chart allows you to forge your own path forward when investing on the ASX. There’s a good reason that so many experts have upgraded their tools, from monitoring custom metrics, setting buy in and buy out limits, and having the latest news updates and relevant information handily ready, you’d be hard pressed not to see the appeal.