How To Choose A Stock Market Watch Service
There are numerous companies (mostly online) that provide the service of a stock market watch. In this discussion we will briefly highlight the main features you should require from such a service.
The first thing you will need is up to date market prices. There's a number of free services that provide delayed prices. Their free prices are only updated at certain intervals, i. E. Every ten or fifteen minutes or even daily. If you are a day trader you shouldn't use such a service ' you need live prices. If you are a long term trader, however, using a free service might be perfectly adequate.
The second service they should provide is general market news. A trader needs to know what happened to the dollar in Hong Kong before the markets open in New York the same day. He also needs to know if there was a stock market crash in Tokyo the same morning, because that will inevitably have an effect on market prices in Europe and America.
Another good service to have is market commentary by experts. Especially if you are new to trading, it is very useful to read what the people in the know think of what's going to happen in the marketplace. If they are right, you will learn to look for the same signs next time. If they are wrong, you will learn to read more critically in future.
Another useful service that is provided by all the top companies is to notify you when a stock you are following reaches a certain price, or breaks through its moving average for example. You can use a service like this to generate trading signals ' the moment your favourite stock trades above the moving average it could signal that you should be buying.
A final service provided by a stock market watch company that you will find very useful is the availability of an online discussion forum. Here you can meet up with other traders to discuss their market views with them and learn from them. Beware however that few traders will really give away their trading secrets.
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