May 24, 2013
3 Profitable Investing Tools
By Raymond Dominick
The right tools are required for safe investing. It’s natural to be afraid of losing; no one wants to lose anything, much less money or even a life’s savings. But money under the mattress will be worth half if that much after 20 or 40 years. The answer is to invest safely and profitably. And no this is not easier said than done, but neither is it extremely difficult.
The first key to successful, safe and profitable investing is to know that anyone can do it. Anyone. You.
The second key is getting and using the right tools. Thanksgiving dinner requires the right tools, ingredients and recipes. Remodeling a home requires tools, materials and know-how. The same is required for successful investing.
The tools for safe profitable investing are:
- A computer
- An online broker account
- Investment software
Computer – just about any computer connected to the internet will enable you to manage your investments. Most investment software, however, works on PC’s although they can run on Mac’s.
Online Broker Account – there are many easy to use online brokers like Fidelity, Schwab, TD Ameritrade that let you open an account easily and with almost any amount of money. And you can easily move accounts from one broker to another.
Investment Software – you have many choices, I recommend software that is comprehensive, yet easy to learn and that doesn’t require hours of time. By comprehensive I mean:
- Let’s you work with all types – stocks, ETFs, mutual funds, bonds
- Gives precise buy-sell recommendations
- Provides charts to show individual analysis or progress
- Provides charts to show how a strategy is performing
- Provides a Market Exit signal that says is now the time to exit or enter the markets.
- Gives you the option of examining individual ticker symbol data and comparing the data with other tickers.
- Let’s you set buy-sell rules that work best for you
- Gives you an easy to read screen or report of all your investment positions
- Provides the opportunity to back test different investment models or strategies to find what works best for your or the ticker symbols available to you in your retirement account.
Investment software that lets you analyze based on different types of relative strength investing is critical. Many books have been published and studies conducted that have proved relative strength momentum investing to provide successful profitable investing results for all types of investors.
Author Raymond Dominick is the designer of Dynamic Investor Pro investment software for stocks, ETFs and mutual funds. He has been investing in the markets since his teenage years. An experienced business manager and journalist, he has been a registered investment advisor representative, also a professional photographer who loves escaping to the wonders of Glacier National Park in Montana. View his software at: http://www.dynamicinvestorpro.com
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