Using technology to track your investments

Using technology to track your investmentsTechnology is one of our greatest allies in almost all aspects of our lives today. We rely on it to maintain contact with friends and family, manage our work, organise our social calendars and keep up to date with what is going on in the world. Gadgets of all kinds are so prevalent, and our reliance on them so integral to our everyday activity, that we have come to take them for granted and only tend to notice when our access becomes somehow disrupted.

All of this is especially true when it comes to managing our finances. Every day, more and more people from all walks of life register for internet banking, preferring the speed and ease of logging on to the inconvenience of visiting a branch or cash-point.

Keeping up in the stock market

Some people take part in financial activity that goes beyond bank accounts and credit cards. They make stock market investments and as a result have significantly more complex portfolios of financial products to keep track of. The ability to easily access the most up to date, accurate data and quickly implement decisions based on this information is critical to success in this field, as is choosing the right technology to support this activity.

The benefits of the right technology

These are some of the most significant benefits that such technological support can bring.

  • Access to live performance data is essential for anyone making investments. Being able to quickly and simply access the most recent and accurate data will ensure that you are fully informed and in the best position to make decisions regarding your investments, significantly reducing risk and improving your chances of success.
  • The right hardware and software will also empower you with the ability to instantly implement those decisions by providing access to the right tools and platforms, as well as the ability to communicate with the right people and organisations.
  • Our workplaces are no longer just our offices and we expect to be able to manage our finances 24 hours a day. Mobile devices supported by the appropriate apps provide access to data and the facilities to implement decisions whatever time of day it happens to be and wherever we are in the world.
  • Information comes in many forms and while the basic facts and figures about our investments are crucial, mobile technology is essential for keeping up to date with general news stories that may have a significant impact on the value of your investments. Almost all newspapers and magazines now have an online presence, including specialist financial media.
  • Getting the right advice from other people with similar financial interests to yourself will provide you with a significant advantage. Blogs, like that published on Global Market Insights are an excellent source of advice and ideas, as well as a means of identifying and understanding patterns and themes within the market.

The right technology for you

The pace of change in technology can be daunting and confusing, with new hardware and software becoming available on an almost daily basis. This can pose all sorts of challenges when it comes to choosing the right technology and ensuring that it works for you and not the other way round.

Here are some basic principles to help you through this process.

  • First, do not be intimidated by the range of options available to you. It can be tempting to try and cut through this by choosing the newest technology, assuming that it will be the best. This is not necessarily the case and can lead to you spending a lot of money on a product or service that you may not need.
  • Before you even think about the specific products you need, focus on your requirements. Do some research to ensure you fully understand what these are. Think about your biggest challenges and then create a shopping list based on the need to find solutions to these challenges.
  • This is a specialist area, so getting some expert advice is invaluable. By all means, speak to friends and family with similar financial interests to see if they have any recommendations. At the same time, sites like Global Market Insights, which offers UK and EU specific commentary, are a vital source of important information and the latest thinking in this area.

Choosing the right technology by properly understanding your requirements and getting the best advice will ensure you are fully equipped to keep track of your investments and maximize your chances of success.

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