If you are a trader, you can use two types of software: stock market software and online options trading software. Let’s start with the former.
• When analysis (fundamental, technical etc.) is on your mind, this is the one you may look for especially in case of publicly-traded companies.
• This type of software needs you to undertake installation, for which you may use your personal computer. The installation can be done after you download the tool from the software creator.
• The stock market tool also needs you to have an active Internet connection. That’s because if you need the most recent stock data, you got to let the software connect to the Internet.
• Though you finally get the data, you experience. While the duration of the delay usually various, it is usually not more than 15 to 20 minutes.
• Interestingly, the tool can also come in handy if you seek real time data. In this scenario, an extra monthly fee is likely to be involved unless the software provider already has some provision for the same.
Here, the question is: do you need real-time data? Well, you may not. In case you neither have the time to nor need to watch live markets to get a clear picture regarding the entry and exit points, real time data is not for you. So, you need not pay for it.
Now let’s talk about the online options trading software
• While this tool also needs you to have an Internet connection, at least it reduces your dependency on your PC. The tool is accessible for virtually anywhere and therefore helps you in analyzing publicly-traded companies from any part of the world.
• If you are wondering, what about the portfolios and chart settings that are there in your personal computer, here’s your answer: all this information is there on a software server for you to access. So, it makes no sense for look for the downloadable version when you can benefit from the online one.
