Investing Money Markets

Does stock investing software work?

I hear a lot of TV and radio ads about different seminars which lead to buying software. Do any of these programs work or able to teach u anything? If so, which ones. Thanks

Public Comments

1. Don't fall for it. The only people making money from those software are the people that's selling you the software. If you are looking to invest, my suggestion is to learn as much as you can about the market. That means reading up on companies, watching CNBC every morning and etc. You should also visit http://ibooyah.com for ways to evaluate stocks (good article that is free). Good luck!
2. I think the best way to invest in the stock market is to see what the best traders are buying and selling and why. This is the idea behind the FREE website http://www.top10traders.com This site lets you create a portfolio of stocks with $100,000 in "play" money. Each day the site ranks the best performing portfolios, so you can see how your picks perform compared to other investors. You can also read posts on investing from the best traders, as well as share your own investing ideas. Here are this month's best traders: http://www.top10traders.com/Top10Standings.aspx Hope this helps.
3. Do they work? Yes, and no. The answer depends on two things- which software you use, and if it's suited to you and your style of investing. If you are conservative and trade little, it's hard to use software effectively. If you are an aggressive active trader,the right software can be very helpful. A large percentage of software as well as pick services are a waste of money, and only serve to confuse us further. Good ones aren't going to be cheap, and cheap ones aren't going to be good. Those that aren't cheap aren't necessarily good either- like buying any product, you must do your homework here too. No software will relieve you of the duty of researching your stocks, but they do provide direction and good probababilities, which greatly narrows the research list. They also can point you to stocks you would never have picked on your own, the kind you see going up rapidly but defy logical interpretation. You also must have the mindset and ability to learn how the tool works and how to get the most from it. Through my club I've had access to several, but most of what I do is based on data from one product, VectorVest. Cost is $650 per year for the standard level. They have a great trial deal; 5 weeks with full service for $10. It's a complex tool that takes a while to learn, but has terrific live support and built-in tutoring. I spent two weeks getting familiar with it. In the next three, I made enough with it to pay for it 4 times over. I've been onboard ever since.