Is your New Years resolution to make more money or learn how to trade? Or perhaps you’re just interested in learning more about trading for your own personal reasons.
Great, then you’re not alone. However, before you dive head first into the world of online trading, you need to equip yourself with the best tools designed to support and maximize your opportunities.Below is a list of the 5 most vital trading tools that everyone has to include in their arsenal.
- State of the Art Trading App
It’s 2019, and anyone that isn’t using a trading app as a part of their trading toolbox is missing out.
Not only are trading apps practical because they allow you to trade anywhere at any time, but today, they are also almost equally as good as the regular trading platforms. Also, as our smartphones keep improving the apps will follow suit.
If you need help finding a good trading app, we suggest you check out BullMarketz.com. There, you’ll find a collection of the best forex, stock, cryptocurrency, and CFD trading apps under the same roof.
- Leading Trading Platform
Naturally, a trading app is not enough to sustain a professional trader or anyone trying to be decently serious with their trading. Therefore, it’s also important that you find yourself a broker that offers a great trading app in combination with an excellent trading platform.
Deciding on which broker and platform you want to use will be one of the most important decisions you’ll make so don’t rush it.
Even though you do have the option of switching platforms further down the road, it’s advisable to find one that can support you for at least a few years if not even longer.
BullMarketz.com can help you find the right trading platform as well.
- Use a Practice Tool or Trading Simulator
Let’s clear one thing up. Using a trading simulator is not only for beginners. In fact, a good trading simulator will serve you well even when you make the leap into professional trading.
Besides being a good starting ground for beginners, the risk-free environment provided by a trading simulator or a broker’s demo account is perfect for advanced strategy development.
In other words, a practice trading tool can help you become a better trader regardless of your previous experiences and knowledge.
- A Reliable News Outlet
The trick to making it as a trader is to always stay up to date with the latest developments on the world’s global markets.
In order to do so, one needs access to a reliable news outlet that is updated regularly, at least a few times a day. Which news media you decide to use is up to you but make sure it’s one of the leading ones such as the WJS, CNBC, Bloomberg, etc.
We also suggest that you download their app if they offer one and make sure you pay for any premium feature so that you donẗ miss out on important news.
- Automated Trading Software
Lastly, we suggest that you consider getting some automated trading software. That being said, there are a few types of automated trading tools depending on what you’re looking for.
Most times when people talk about automated trading software, they are referring to trading robots or software that can open and close positions automatically based on your preset settings.
The second type of automated software is a tool that invests for you automatically based on different settings. The most popular one is called Acorns (LINK) – a tool that invests the difference from all of your credit or debit card purchases in high-performing stocks.
In our opinion, Acorns is a fun way to increase your portfolio without having to do all the “work” on your own.
In addition to the aforementioned 5 tools, there is a multitude of other gadgets and software that you can use to improve your opportunities. Just know that these five trading tools are the most essential and something everyone should consider using.