When investing in the stock market, you might want to put all your money on a single business that you think will take off and exponentially increase the value of your stocks. However, the chances of being able to find a business that will experience such a rapid growth and actually invest in it are very low. It is for this reason that, when you are looking to make money trading stocks, you need to diversify and limit your risk by investing in a broad spectrum of companies. Stock picking software and portfolio risk management software tools will help you facilitate such diversification. Below are a few of these portfolio risk management software tools that you can start using in your quest at earning in the stock market.
Specialized Stock Portfolio Management Software
To aid you in facing the complex world of stock investment, company companies have come up with tools that are specifically designed to help you investigate stocks and intelligently invest. These portfolio risk management software tools streamline the investment process and keep you up-to-speed on developments from the market in general, and the specific companies you have invested in. Some popular portfolio risk management software includes Personal Stock Monitor by DT Link, Stox by JoeSoft and Portfolio Manager by Rellik Software.
Investors usually rely on general accounting software when they make their investments, either on its own or in addition to their more portfolio risk management software. This kind of software maps out all of your personal finances so you can calculate your income, taxes and expenditures. Although these programs do not specifically deal with stock investment, you can use them for that purpose. Some popular programs are Quickbooks, Moneydance and Quicken.
Stock Picking Software
Stock picking software has numerous characteristics similar to those of portfolio risk management software. However, it focuses more on automatically making projections and giving suggestions on which stocks an individual should invest in. Such software products might be effective, but they are most certainly not fallible, so users should proceed with caution. A few programs are Stock Picker Pro, Stock Assault, and Stock Picker RT by Investing Systems.