3 Trading Resources You Need to Use Every Day

Online trading is a very dynamic "job". You need to be on the ball and make sure that you stay on top of things every day. Investors who have a long view and who invest for the long term generally follow a more hands-off approach while day traders and swing traders rely on the daily (and often even the hourly) fluctuations in the market.

With all the hundreds of trading software, books and experts its almost a full time job just to stay on top of all the opinions and advice out there. So often traders start to rely solely on software on a specific person's opinion - which can be dangerous. I think that for a trader to be well diversified in his stock analysis is as important as being well diversified in the market.

There are 3 great (and free) resources that you cannot go without as a trader. There are the 3 that I use daily and simply cannot trade without. Not even the most fancy software in the world comes close.

1. Stockcharts.com

This free site is probably the most useful resources for any technical analysis. It's easy to use, has an immense amount of stock screeners and can create some really sexy graphs at the push of a button. Whether you prefer candlesticks or just plain old line graphs, Stockcharts can do it for you. The stock screener tool is one of the first places I visit every day.

2. Yahoo Finance

This is probably the best thing that Yahoo has ever brought to the web and its widely considered as the place to find financial news on the web. If there's any financial news happening anywhere in the world, then this is where you will see it first. You can also set up alerts which is a great way to stay on top of things as they happen.

3. Investopedia

This really is like the Wikipedia of investing. With hundreds of tutorials, thousands of articles and countless tools this is the place to learn trading online. It is the best resource to learn almost every aspect of investing and the best part is that its free. They also have a great newsletter that's useful for staying up to date with all the latest trading news.

Do you want to learn how to find the best stock ideas? See my blog to learn more about the best day trading strategies...