Stock Market Apps – Introduction to Stock Support and Resistance Apps
If you had to take a guess, how long would you say you look at your smartphone every day? What did you guess? 2 hours? 3 hours? More? eMarketer.com suggests that US adults spend an average of 3 hours, 35 minutes per day on mobile devices in 2018. I checked my own average for the last 7 days and sure enough, I was at 3 hours 33 minutes! Pretty spot on. My point here is that if you are like most people and will be spending all of this time on your phone, it might as well be to track your favorite stocks and stay on top of breaking news with a stock support and resistance app! So here are our favorite stock market apps that will keep you in the loop on the go!
Stock Market Apps – #1 – Investing.com
This was the first stock market app that I downloaded when I first started trading back in 2012. Fast forward to 2019 and this app still remains a staple for us when we’re on the go! It provides you with a wide basket of tools that cover pretty much all asset classes, local and international! This makes it a one-stop-shop for both traders and investors. Here are some of the key features that we enjoy:
Access to Real-Time Market Data
This app offers live quotes and charts for over 100,000 financial instruments across all assets classes. Whether you trade equities, futures, options, forex or fixed income, you have access to them all real-time for free.
Economic Calendar
One of the quickest ways to get burned is to have an open position leading into a major news release. If you trade equity indices futures, currencies or commodities, you will want to have access to an economic calendar to stay up-to-date on these releases. You are also able to customize the calendar to your own personal interests (eg, by Country, by Impact, by Industry) and track market-moving events so that you can always stay on top of these releases.
News & Analysis
One of the features that we like about this app is access to breaking news in the global financial markets. Articles are uploaded from in-house writers as well as from financial outlets such as Reuters and Bloomberg. While you are on your commute, you can check up on the economic releases in store for the day so that you can avoid getting flushed out by intraday volatility.
Charts & Tools
This is the category that this app truly excels in as a stock support and resistance app! The charts are powered by Tradingview and offer you the choice of candlesticks or a line chart. In addition to this, you get access to a whole suite of tools, such as stock screeners, currency converters, earnings calendars, and technical summaries to better help you analyze the markets.
Personalized Portfolio with Alerts
Whether you hold a portfolio of stocks or just simply track a basket of assets to find trading opportunities, you can create your own custom watchlists to track your trades and keep an eye on your holdings. You also have the option to set push notification alerts for any instrument, economic event or news article. The options on the alerts are quite limited though as you can only choose between a price level, change % and volume at the moment.
Summary
If we could only keep one single stock market app on our smartphone device, it would be this one! With access to an extensive list of assets with charts and real-time data, not to mention breaking news and economic calendars, this is a must-have for the TRADEPRO on the go! One thing to note is that the free version comes with ADS. While they are a minor inconvenience to most, if they bother you, you can buy the ad-free version of the app for a one-time payment of $39.99 at the time of this writing. However, if you aren’t bothered by the ads, you’ve got an extremely powerful app at your fingertips to get you up to speed during your morning commute. If you want to check this app out, visit this link here.
Stock Market Apps – #2 – Tradingview
Next up is one of our favorite platforms TradingView, which has recently released a mobile app for both the Apple Store and Google Play Store. Tradingview has quickly emerged as one of the leading platforms in the industry and the release of its smartphone app has come to the delight of its loyal members. One of the best things about this app is the cloud-based infrastructure which means that you can sign on across multiple devices. The cherry on top is that any changes made in the web platform will sync to the mobile app and vice versa. Now you can analyze your watchlist on the road for trading opportunities. Let’s take a look at some of the great features that this mobile app provides traders:
Customizable Watchlists
Whether you have a master watchlist or prefer to keep separate watchlists for different asset classes and sectors, Tradingview has you covered! If you are anything like me, you like to keep an eye on several different watchlists as the week goes on. This is what works for me and the ability to keep track of several watchlists within the app helps me stay on top of key opportunities during my daily commute to the office!
Real-Time Market Data
Similar to Investing.com, the Tradingview Stock Market app also provides users with real-time market data to access quotes for stocks, forex, futures, and cryptocurrency. One of the limitations here is that there is no access to options chains for the options traders out there!
Beautiful Charts & Tools
This is where Tradingview really knocks it out of the park. Their charts are absolutely stunning and are very easy to work with even on the smaller surface area of a smartphone screen. As previously mentioned, all drawings and analysis are synced across all platforms so it is very easy to update your charts when on the go! In addition to this, Tradingview has the largest selection of drawing tools and technical indicators that I’ve seen across the hundreds of stock market apps available. Whatever your style, you will be sure to find the right tools to complete your technical analysis.
Social Features
Since Tradingview is a social platform, traders and investors are encouraged to discuss trade ideas and strategies in the ideas section of this app. You can view and share trade ideas, chart analysis, and setups with more than 7 million traders around the world. While we encourage you to share your analysis in private to track your own thoughts, we caution you on acting on the analysis of other traders in this section. Many that post ideas are simply charlatans that can mark up a chart but will never actually execute! Why? Because they haven’t put in the time to gain confidence in execution. We personally don’t use this section at all, but if this adds value to you, it’s another reason to consider downloading this app!
Summary
The Tradingview app is more about convenience and user experience for us than it is about extra features! You won’t find access to breaking news or economic calendars in this app, but if you are looking to do your analysis on the road and want to pick up from where you left off on the web browser, this is a must-have on your smartphone!
As mentioned earlier, I have several watchlists saved on my account and the ability to sign in on my phone in the morning to see whats happened overnight is very convenient. I also love the fact that all my chart markups are synced as well so I am not staring at naked charts in the morning wondering where my levels are at! While it may lack in some features noted above, the watchlist and mobile charting experiences provided by this stock support and resistance app are next to none and give us enough reason to make this list!
Stock Market Apps – #3 – Twitter
Surprise surprise! You might be thinking, what does Twitter have to do with trading and why is it one of your favorite stock market apps? Well, the answer might surprise you!
Twitter can actually be a very valuable tool for traders when used correctly! It is a key source of information increasingly used by financial analysts, traders and other market professionals to help them make critical decisions.
Market Sentiment
There are thousands of traders on Twitter who use it to discuss their ideas and announce setups they are trading.
While most are charlatan fakes, there are some real professional traders out there that provide insightful market commentary on a daily basis.
By following the right people you can build up a solid feed of successful traders whose tweets you can use to investigate trade ideas. These are the type of traders that will typically be quite contrarian in their opinions compared to their peers and are the ones that should be followed.
News Feed
Another popular way to use Twitter is as a news source!
Again, by following the right accounts, you can build a pretty reliable news squawk to keep you up-to-date with news and sentiment throughout the trading session.
Ever since Trump came into office he has been whipping markets around one tweet at a time.
Don’t you think it would be a good idea to follow him in order to stay on top of potentially impactful tweets?
Yes… yes you should!
Luckily for you, we have your back and took the liberty of building up a list of around 45+ handpicked accounts that you can now use as a daily feed for breaking news! Check it out here to stay on top of the wire!
Summary
While it is not a native stock market app, Twitter can be a powerful tool, especially for day traders! Hedge funds are increasingly using microblogging platforms to gauge investor sentiment and profit from the resulting movement in stock prices. You can too! Twitter is free but it takes some time to find the right accounts to follow. We’ve set you up with a reliable Twitter news feed, now you’ll have to put in the time to find a reliable set of accounts to follow for your respective markets. Whether you are a futures scalper, an FX swing trader or a passive options trader, there is a professional in this discipline on Twitter offering their thoughts and commentary for FREE. Do yourself a big favor and start listening!
Stock Market Apps – Final Thoughts
It would be great if we always had access to our office desks and trade stations, however, sometimes life gets in the way! In times like these, it is important to stay prepared, especially as traders and investors! Stock Market apps allow us to stay on top of the news wire, manage watchlists, analyze charts and track portfolios all from the tips of our fingers on the road! We’ve covered our top 3 apps that we rely on when away from our offices. Let us know what your favorite stock market apps are in the comments section of the post.
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The information contained in this post is solely for educational purposes, and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. TRADEPRO Academy is not responsible for any liabilities arising as a result of your market involvement or individual trade activities.
