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Evan Morris in Technology

Tools for stock trading: Everything you need to know



Image from Pixabay

Technology has not only revolutionized the way we invest our money but has also completely transformed our interaction with financial markets and the way we trade stocks. Just a few decades ago, if you wanted to get information about the stock price of a company, the only way to know was to read the financial newspaper or wait for the five o'clock news. Then, if you wanted to trade those stocks, you had to call your broker or visit their office in person. We can say that we have come a long way since then.

Day trading, as we know it today, simply did not exist back then, as it was not a viable option for those not working on Wall Street. Nowadays, people from all walks of life can try their luck at day trading in the markets, from college students to retirees in homes.

All of this is due to significant improvements in internet connectivity and the ease of trading online from the comfort of home. This has led to a massive influx of amateur traders, and as a result, the global stock market currently records record valuations of around 95 trillion dollars.

Stock trading tools

To the delight of many traders, technology has opened the door to new resources specifically designed to simplify the life of the stock trader. These tools help traders make more informed decisions, trade with greater accuracy, and execute ultra-fast trades at the push of a button.

Chart software

RSI

MACD

Moving averages

Bollinger Bands

Stochastics

On-balance volume

Stock scanners

Research/news providers

Unusual market movements

IPO

New developments