10 Terrific Mobile Apps for Traders - dummies

10 Terrific Mobile Apps for Traders

By Michael Griffis, Lita Epstein

You can find lots of apps on the market for tracking stocks and getting key market information. The applications included here can be used no matter which broker you use. Many brokerage houses offer mobile applications as well, so if you’re planning to trade throughout the day using a mobile device, check out what your broker offers. That could become a critical part of your decision making if you want to be a mobile trader.

Here are some of the best free apps:

  • American Economy: This free app is a must for all traders. It was developed by the Census Bureau, the Bureau of Economic Analysis, and the Bureau of Labor Statistics. You can quickly find all the key economic indicators and their trends. You’ll also find dates for the upcoming releases.

  • Bloomberg: To quickly get a view of the world markets, Bloomberg’s free app can’t be beat. The chart at the top gives you a quick colorful overview — green for up and red for down — over the markets worldwide, including the U.S., Great Britain, Germany, Japan, and Hong Kong. You’ll find stock indexes, futures, bonds, currency, and commodities. You can also find the most current top market stories. You’ll also find other Bloomberg apps for Bloomberg Radio, Bloomberg TV, Bloomberg Businessweek, and Bloomberg Markets Plus.

  • Evernote: This app can help you keep those important notes about your trades and market activity. It’s one of the best note-taking apps available.

  • Stock Chart (lite): This app (currently available only for Apple devices) allows you to enter your watch list. Then when you open the app, you get a map of your stocks in red, green, or black. Red indicates a significant drop in price. Black could be a small drop or small increase. Green indicates a significant increase. You can tap on your stock and get charts in increments of one day, five days, one month, three months, six months, one year, five years, and ten years.

  • StockTwits: This app helps you share ideas with other traders and find out what stocks are socially trending. You can enter your watch list and quickly find out what other traders are saying about your stocks.

  • Top Stocks: This app (currently available only for Apple devices) provides stock idea lists that may help you identify new trading opportunities. Don’t just jump into a stock without doing your own research. Each day you’ll find a different list. They include recent breakouts, new highs with strong demand, greatest growth potential, industry leaders, and fastest growing companies. On the free app you have access to the top five stocks on each list. For $4.99 per month you get complete lists.

  • Yahoo Finance: If you like using Yahoo Finance online, you’ll love working with the app. You can set up your watch list and quickly get real-time prices for the stocks you are watching plus key fundamental data, charts, and news stories related to your stocks.

Here are some apps that aren’t free but may be worth your money:

  • Stock Guru Pro: This app (currently available only for Apple devices) provides real-time analysis for about 7,000 stocks. After you input your watch list, you see a quick evaluation for financial strength, valuation, momentum, and risk. The app also provides a proprietary guru rating. You will see a list of gurus and whether or not they hold the stock. The cost for the app is $29.99.

  • AnalystRT: This app gives you an easy way to find out what the analysts are saying about stocks on your watch list. If you like to follow the analysts as one of your research tools, you can download this app for $2.99.

  • FuturesLive: If you want to do commodity trading, this simple app provides quotes for hundreds of futures organized in categories such as energy, metals, and grains. The app is $1.99.