Friday, April 04, 2008

Let the tools work for you in trading stocks

What if you buy an RV and use it JUST like your car - to go to work and come back home, and ofcourse, to do some shopping.

What if you buy a big house and just use the living room ALONE for everything, like a studio?

I'm not an exception. I'm registered with Ameritrade for about a year now. I hardly use any of the tools they provide. All that I know of till date is to SELL & BUY a few shares by placing LIMIT orders. However, there is a myriad of options and tools they provide. I happened to attend one of the Ameritrade's training sessions ("Market Trading Tactics"). The trainer told about the common mistakes done by novice investors. He also explained about the tools and services provided by Ameritrade.

Wow ! It is really amazing. The system can do trades when you are sipping your Margarita and enjoying your vacation in Bahamas. The tools like "Trailing Stop" can also maximize your profit and minimize your losses. Tools like Strategy Desk can help you to perform technical analysis before making investment decisions. Well, you don't have to be a computer geek to use these tools. Even a novice investor can understand and use it. I wish I had known this information 6 months back.

I'm not saying that you've to use ONLY these tools. But, use the right tools ... tools that you've access to. You'll save a lot of money and time. Let the tools do all the HARD working. You should just do the SMART working.

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