7 Interesting Facts About Stock Picking Software
1. Stock picking software is fully automated, and the software program does all of the work for you. If you want to find the hot stock picks which meet your criteria then a software program can do this for you with much less work.
2. A stock picking service is only as good as the advisor who is making the stock picks, but a software program allows you to set the parameters desired. You gain control with software, because you choose which criteria is important and which types of stock criteria is filtered out. This is not available when a person is making the picks.
3. Stock picking software requires enormous databases that involve historical market behavior characteristics. The program views stock upswings and then isolates the factors involved in this movement. This data is applied to real time market information, to determine which stocks are the best choices.
4. It is possible to receive daily stock picks, because you can program the software to isolate the best stocks in the market each day. Since you decide the criteria the stock picks are all suited for your investment needs and goals.
5. Stock picking software can cost much less than using a service to pick stocks, and the charge is a one time fee versus a subscription that is due monthly or annually. The money saved with a one time expense can be used to increase your portfolio holdings instead.
6. Any stock picking strategies can work with a software program, because there is flexibility in the criteria used. Some advisors and selection services do not allow options concerning which stocks are chosen, but software usually does.
7. Stock picking software removes all emotion from the stock picking process, and this eliminates some of the risks involved. Emotion is the number one reason for large losses, and may cause some investors to go against their own trading strategies and guideline.