Blog Post #2 – Favourite Tools

I would like to share some of my favourite tools and why I personally use them. These tools may have more features or more uses, but I will try my best to highlight the features I found most useful.

Investopedia

Link: https://www.investopedia.com/

  • Provides explanation of market concepts, and terminology with descriptive and easy to follow along with videos and examples. Occasionally they write news articles too.

    If you wanted to understand more about what is happening around the Gamestop stock [], Alexis Goldstein has a great explainer of it here. If at any time you were confused on any terminology like short selling, candlesticks, or volatility, Investopedia is a great resource. It is like a market dictionary.
  • I’m not an expert in this feature, but Investopedia has a simulator. In this simulator, you can paper trade. Paper trading is trading with fictitious or monopoly money. Keep in mind paper trading and actual trading are not the same.

Yahoo Finance

Link: https://ca.finance.yahoo.com/

  • I typically use this to track a list of stocks. Registering a stock in a list will keep you up to date and notified with relevant news and alerts.
  • There is a mobile app! With notifications enabled you will be notified of important news, stock movements, and more details related to the list of stocks you create.

    Within this list, the site will consolidate all the news related into a scrollable feed that you can browse.

TradingView

Link: https://www.tradingview.com/chart/VmjUJ51g/

  • I typically use this when deciding when to enter a position in a stock.
  • Provides “real-time” market data and it is completely free! The reason I quoted real-time is that there is some variance of delay.
  • A lot of useful tools with some learning curve that any novice trader, market researcher, or investor will need to monitor the markets.
  • My favourite feature is being able to see the volume and candle movements when the markets are open.

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