Apps Are the New Black: 10 Apps Every Trader Needs to Use
Apps are the new black.
They are everywhere. And the only difference between apps and the latest fashionable color scheme is that apps are not likely to go out of style anytime soon.
There are nearly a million apps between the Google (NASDAQ: GOOG) Play Store and the Apple (NASDAQ: AAPL) App Store, and since many of them are anything but finance related, it can be difficult for traders to find helpful apps.
The following are 10 apps that no trader can (or should) live without.
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This app is essential for any investor or trader, but particularly for those new to the game.
The terminology and nomenclature that is specific to the financial industry is extensive at best and convoluted at worst.
Smart traders know their way around the inside vernacular like it's their native language, and the Investopedia app is a great way to learn that language.
No one uses a single device to store their financials and other important business information anymore. At minimum most traders have a desktop computer and a smart phone, and most finance gurus have those two items as well as a laptop and a tablet.
That being the case, Evernote was created to keep you organized by synchronizing all of your devices to allow for the access of any and all information from any device you own.
Yahoo! Finance Platform
Getting market analysis, looking up stock quotes and having some level of chart-creating ability are just a few of the things that traders need to be able to do on the go. These are also just some of the functions that the Yahoo! Finance Platform app puts in the palm of the investor.
Although not a full-capacity application that will allow actual trades or in-depth analysis, the Finance Platform is ideal for those times when you need quick on-the-go info, times when the details can wait.
For the serious trader, there is QuoTrek – an app that offers more than the basic charting and data functions, and delves deeper into the needs of the true trading guru. This app allows traders to see current and historical data on commodities, stocks, and Forex, as well as quotes and technical analysis.
While it is not a replacement for its desktop equivalent, which has certain bells and whistles not available on app, QuoTrek is indeed an ideal supplement and will make life away from your desktop a lot easier.
Bank Apps Platform
There is more to having a bank app than just checking your account balance. Accessing funds and the ability to deposit checks using your smart phone camera are just two of the additional benefits that come with this platform.
Better to have it and not need it than to need it and not have it.
News Apps Platform
Considering the fast-paced lifestyle of the average trader, staying “up-to-the-second” current on the hyper-detailed and ever changing world of high finance, not to mention on the world in general, can be daunting.
Keeping the News Apps Platform on your phone keeps you in touch with the information and data that you need to stay ahead of the game.
Keeping up with your peers in the world of Forex and stock trading is made easy with the StockTwits app. Billed as “Twitter for traders”, StockTwits lets you know in real time how traders, both amateur and professional, are responding to market conditions.
This free app is ideal for day and short-term traders.
Some traders use the advice put out there by Wall Street analysts and some do not. For the former, there is the AnalystRT app which offers up analyst rating for countless stocks by professionals in the know.
If you are a commodity trader, FuturesLive is the consummate app for finding futures quotes.
There are myriad of futures available from all of the major exchanges and FuturesLive lets you see them all, categorized under headings like "livestock" and "metals."
The stock market is anything but stagnant and real-time news and data can be the difference between a solid trade and a regrettable one. Bloomberg provides that information as well as stock quotes and graphics, all of which are very easy to find.
There is also a “breaking news” function that allows you to stay informed even when your mind is on other things.
We recently developed our own app for iOS users to get Benzinga on the go.
The app's features include:
• The ability to rotate your phone to see fullscreen, zoomable price graphs!
• Have the advantage of creating and managing multiple different watchlists to better organize the stocks you're tracking
• NEW: Benzinga now runs on iOS 6.0
This app is available on iTunes for free!
You could probably spend a good portion of any given day trying to pick and choose the right finance apps for your phone and still not have the ones that you truly need.
It is easy to think that an app is going to be practical and serve your needs just because it has a fancy sounding name or was recommended by a guy who knows a guy.
But choosing the right finance app for your trading needs is a little like trading itself. It requires some insight and forethought, and choosing a bad one can end up being more of a hindrance than a help.
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