When it comes to trading for short-term gains, there are many options to explore. For example, you could dive into technical analysis and trade based on data. Next to that, you could thrive on the sentiment of the market to get your gains. In any case, it is important to have the latest state of the market captured, including your holdings in that market. Having the best stock tracker could help you realize that. In this article, we will explore how a tracker can support short-term traders to increase their gains.
Connect with brokers for a holistic perspective
If you are an active trader, you probably hold stock at multiple broker accounts. For example, one broker could be leveraged for the US market while another broker has more favorable conditions to trade in Europe. With the best stock tracker on the market, you can integrate with these brokers through API and have an overview of all your holdings in real-time.
How does an API work
Since it concerns your stock holdings, you could receive this data sharing with some healthy skepticism. Do note that APIs are perfectly safe and only transfer data that is approved by the parameters defined by the broker. For example, you need to provide a special key to retrieve the data and can only retrieve information that is allowed to be retrievable. Often, this is limited to the holdings and quantity of the holdings.
Information on your trades
With API connections to brokers, and also a possibility to integrate with crypto brokers, you can also have an overview of transactions inside your stock tracker. This allows you to analyze your trades and up your game. For example, the tracker can indicate if the trade worked out well for you, or if it was better to hold on to the stock. You can analyze this information and continuously improve.
A proactive investment tracker
The power of an investment tracker can be found in the proactiveness of your portfolio. In the past, retail investors would combine their holdings into a spreadsheet and update those regularly. This has already started shifting with special macros that allow you to get real-time stock information from stock exchanges across the world, providing an element of automation. With a stock tracker, this is brought to the next level on two different dimensions.
Real-time data and push notifications
Naturally, the data of stock prices get updated automatically. Where it does become interesting is the notification setting possibility. For example, you could set a push notification when stocks gain or dip by a certain %. This allows you to be on top of your game, without the need to continue watching the market. In short: more freedom for you while your stock tracker is analyzing the market.
Especially when trading for short-term gains, market sentiment is essential. What will be the decision of the FED? How is a certain industry performing? Did you hear about that latest scandal? The best stock tracker also includes the latest stock market news, which can be provided through push notifications as well. For example, you can configure it to receive news that relates to your holdings for optimal coverage.