Best Trading Software and Tools for Beginners and Experts

Millions of traders trade daily and make the whole market grow at an incredibly rapid pace. The sheer size of the Forex industry compels people to be more efficient at trading and recognizing the best opportunities for each order. The hectic rhythm of this work makes it hard for beginners to even attempt to start making money reliably.

However, the industry naturally developed an answer to this issue. Many experienced traders well-versed in either software development or market analysis created a plethora of the best trading software and tools providing traders an edge when it comes to trading.

The variety of modern tools and software dedicated to helping traders overcome various obstacles is quite rich, offering multipurpose apps and specialized indicators for very specific assets and periods.

Types of tools and software

There are all sorts of instruments that you can use to make your own trading game a little bit more efficient. You may be interested in very specific software solutions, but knowing them is quite useful for someone who wants to improve. There are several main types of apps and tools that should interest any trader.

Indicators. Most of them are already implemented in most terminals. However, some more sophisticated indicators should be used with specific time frames and terminals such as MT4. You can download indicators for MetaTrader platform and use them as you see fit.
Auto-traders. Some strategies involve automatic high-precision trading which can be performed only by robots. These bots make decisions based on specific indicators and parameters established by users making trading a little bit more efficient time-wise.
Simulators. These programs can extrapolate how the market may change given specific inputs. It is a good tool for those who want to test various indicators and new strategies. Simulators are a good alternative to history-trading.
While these tools allow you to directly analyze the markets and come up with new ideas of how to trade, there are specialized tools aimed at solving more broad tasks. For example, you may be interested in economic calendars and news aggregators as well as chart-makers. Moreover, you can read different day trading books to get the insights as for the types of tools and software which are the best for earning at the Forex market.

Economic calendars are provided by most brokers. However, you can also implement them in your terminal and be ready for any market fluctuations induced by new developments in the global economy.
News aggregators are great helpers to people focusing on fundamental analysis or heavily using various techniques to verify technical analysis results.
Chart-makers are specialized programs capable of building comprehensive charts with very specific user settings making each trading session more comfortable for a trader. It is a great customization tool that many experts consider even more useful than signals and indicators.
The main takeaway

Even the best trading software and tools won’t help you improve if you do not put in the work. In the end, the only person making decisions is you. These instruments may help you gather more information and form a better strategy but they won’t make you rich. Use them smartly.

How do first time investors make a mutual fund comparison?

As an investor, you have many mutual fund options to choose from. There are a number of Mutual Funds available in the markets. However, you need to take a closer look to make a mutual fund comparison.

Making a mutual fund comparison in India among so many mutual funds and selecting the one which suits your needs can be a tough task. However, below checkpoints can be helpful when it comes to selecting a fund.

Check if the fund you are selecting matches your goals. Outline your investment goals with the assistance of a financial advisor. Then it would be easier to make a mutual fund comparison with a mutual fund comparison tool to find the best-suited fund type.
Assess how the respective asset class works. This could be related to the type of assets in the fund. In equity funds, it is the rise in the market value of the concerned shares that give you returns whereas in debt funds it is a fall in interest rates that increase the NAV and the future value of your investment.
Check how liquid is this investment. If you are in need of money on an emergency basis, would you be able to sell immediately?
Some investments have lock-in periods during which it cannot be sold, for example, ELSS investments, some have exit loads. Perform a mutual fund comparison for all these parameters before going for the type of fund.

Look how long has the AMC been in business. Is their management experienced? Have they made money for investors before?
Use a mutual fund comparison calculator to check how has this fund performed over the long run? Where can you get an independent evaluation of this fund? You can also refer to factsheets of mutual fund schemes that would show you their past performance. Check performance over long periods like 5 years or so that will give you an idea of how the fund has performed in different market cycles.
Check the total fees structure of the scheme . Investments bought through distributors charge a transaction fee and commission. Mutual funds charge an expense ratio, for managing investments. You can invest in Direct Plan to of mutual funds wherein no commission and transactions charges is to be paid to save cost.

How do you invest for your Child’s Future Goal?

In this ever-increasing world of rising costs and rising inflation, the cost of education is becoming expensive with every passing day from primary to secondary to higher studies. Thereby, it is essential to plan for it early by investing in investment avenues such as a mutual fund for your child. Mutual Fund schemes have potential to provide long term risk and inflation-adjusted returns. If you have some other goal in mind, the process and factors influencing the investment remain the same.

If you consider below three steps diligently, it will help you to be closer to achieving your financial goal.

Gather Adequate Information and Estimate Costs You may not immediately know your child’s career ambition 15 or 20 years down the line but getting a rough idea of what your child’s education in the future would be, is to consider to start planning a mutual fund for your child’s future goal. Higher education in top reputed institutions across India is expensive and studies abroad being much more.
At the same time, you also need to factor in the inflation rate (rise in costs) while calculating the future costs of their education. Let’s take an example: If you are looking at an MBA education which costs Rs. 25 lakhs today. 15 years from today, @ 6% annual inflation, fees would cost Rs. 59,91,395 lakhs. When you come to think about this amount as a whole, many people may not be financially ready to prepare a corpus for their kids’ future needs.

Consider Investing in Equity Mutual Funds for your child future goal Just saving money for your child’s education may not be enough. You need to let your money invested for the long run. Coping better with inflation could involve investing in instruments that have a moderately higher risk. Equity mutual funds could be one such Mutual fund for your child that has potential to provide long term risk adjusted return
Start Early and Invest consistently via Equity SIPs One of the smart decisions any parent could take is to start saving early. Starting early gives you the benefit of the power of compounding and helps generate wealth from your mutual fund for your child. If you haven’t yet invested in equity mutual funds for your child’s education, then you can start your mutual fund investment via SIPs because SIP investing in equity mutual funds inculcate a sense of discipline and develop a long-term approach thus helping you the opportunity to accomplish your long-term life goals like your children’s education.
The main objective is to help you plan with a mutual fund for your child’s education goal so that he/she does not face any hurdles when it comes to paying fees or accomplishing any other dream. While economic fluctuations are unpredictable, planning early through a mutual fund for your child can help In achieving your goal.

Finding a Management Consultant

There are times where the honed and precise business skills of management consultants are exactly what is needed to maximize your business to its fullest potential. While running a company on your own has inherent challenges, no one says that you have to run the gauntlet alone. Business services offered by a superior company would be just the ticket to iron out any difficulties you may be having, and to identify areas you could improve on for the overall operating picture.

Finding a management consultant with the right business skills to match yours, one that you are able to get along with and that mirrors your ambition and drive to achieve isn’t always an easy thing to do. Searching online for one is sometimes even harder, however, it is definitely something that may be done, providing you use an abundance of caution prior to selecting a company offering business services. Since you are the CEO of your company, there is no doubt you will be able to source business services consultants that meet your needs.

The idea behind hiring a consultant that offers business services is that you will be able to take advantage of their specialised knowledge and abilities to boost your firm’s performance. The creation of various fresh strategies and the implementation of different ways to operate your business is the key to the continued success of your organisation. Management consultants have special talents when it comes to providing you with business services that analyze problems you may be having and in assisting you to craft an expert solution to the problem.

While you may just wish to use a management consultant in one area of your business, this isn’t to say that you don’t also have the option to utilize them in other areas. Business services may encompass financial matters, staffing, e-business, supply-chain management and human resources. They greater the adaptability and flexibility of your management consultant, the more benefits you will derive from their services.

Look for management consultants who pride themselves on their ability to research. In any critical situation that requires instant solutions in today’s business arena, consultants need to be able to quickly access other resources for answers. This needs to be part and parcel of the business services they offer you to handle the changes you want to make with your company.

You may certainly wish to have your management consultant come in to deal with certain glitches. However, part of their package is to (on a daily basis) analyze problems, hold workshops and make certain you have solutions at the end of the day. They are ideally, to be on your work site to provide leadership, help prepare business presentations and yes, even interview clients.

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