It seems like the trading world is more tech-fueled than ever before. But alongside technology like high-frequency trading and algorithm-based investing, there’s also been a quiet trend developing in the financial world. And that trend is live, online trading chat rooms. From private, invite-only IRC channels to large trading platforms with their chat rooms for every niche, these chat rooms are growing in popularity. And with the ability to use them via mobile platforms, they’re surely only to become more integrated into the financial scene. But they also offer some excellent opportunities to converse with other traders from just about anywhere in the world.

Connecting to Breaking News

With how integrated the markets have become in the past decade, it has become increasingly difficult to monitor even a fraction of the important information out there. It’s now a reality that what happens on the other side of the world can often quickly affect our positions. Because many traders don’t have access to more advanced news aggregators, live trading chat rooms can be a good source of breaking news that might just be hitting the desk of media sources in your country. Traders in these chats very often are discussing the very latest of what’s happening in economics, politics, and more.

Culling Ideas of Every Type

Perhaps one of the most interesting aspects about live stock trading chat rooms is the type of conversation that often occurs. Although you’ll find traders of all kinds, you’ll also find people from all walks of life. Because these chat rooms are often casual, participants are frequently willing to share off-the-cuff ideas that you might not see anywhere else. Now, that doesn’t mean that they’re all actionable ideas, but the free flow of conversation can function as almost a brainstorming session between intelligent people.

Discussing the Specifics

At the same time, in almost every trading chat rooms, the conversation extends beyond simple small talk. On the one hand, you can have a chance to talk in real time with others about complex financial instruments and market moves. As you discuss trading, you can go beyond what a typical forum can provide as you tap other investors who are savvy, well-informed, and passionate. But you also can ask questions and get feedback as you make your trades for the day.

Feedback is a genuinely valuable attribute to trading chat rooms. You’ll find just about everyone in chat rooms are willing to answer a question or give feedback.

​ Gaining Support and Culture

If you’ve ever seen some of the movies involving financial institutions, you might have wondered if it’s really like that in the real world. But if you’re a day trader working from home, you can sometimes feel disconnected. Trading chat rooms have become the hub for a sense of culture and support in the online investment community. While you have like-minded investors to talk about interesting financial matters or the latest FOMC meeting with, you also have support when a trade doesn’t go your way, or you’re not having such a hot day on the market. In the end, while these chat rooms aren’t exactly like the movies, they do provide their brand of culture that can keep you engaged and excited about your trades and your investments.

Evaluating software platforms is a critical aspect of trading, whether you’re trying to choose between brokers or upgrading your stock trading setup. When minutes and even seconds matter to the growth of your portfolio, you’ll want to ensure that you have the software that best serves your trading niche. From earnings plays to scalping ETFs, the trading software you use to make your investments can mean the difference between risk and reward. The right software can also give you the tools to research, track, and engage your trading positions. But you’ll also want the ability to manage your investment strategy, whether you’re futures or a forex trader. With this aid, you’ll be able to use these guidelines to decide which software is best for you and to ensure you’re working your way to being an expert in your trading approach.

Desktop vs Cloud-based Platforms

Some of the many different software solutions allow you to download and install their software locally, while others offer an entirely web-based experience. Which one’s right? The answer is that it depends. Desktop software often offers more leading-edge features as well as being less likely to bog down your system. You’ll also get faster data. At the same time, if accessing your charts anywhere is a problem for you, cloud-based, especially app-based services let you go almost anywhere while staying plugged into the market.

​Analytic Tools, and Alerts

Of course, what’s a trading platform without tools? You’ll find that most software has the standard candle charts, but you’ll also want to consider platforms with features such as Heikin Ashi, Renko, and others. Traditional indicators are also a plus, such as RSI, Bollinger Bands, and built-in pivot points. Your particular trading approach will dictate the importance of various indicators. But also consider whether you’ll want software that adds alert features. Traders with more complex setups, having alerts in your software can be vital.

Up-to-Date News and Information

Every trade is only as good as the relevancy of the data it’s built on. Increasingly, the world of trading relies on deals that are measured in microseconds and informed by entire teams of analysts. If you’re looking to enter the market, you’ll want to assess what level of information you’ll have access to through your software platform. Software that provides news feeds, but also company profiles and other information can better streamline your research efforts.

​Ease of Use vs Customization

If you’re not particularly tech-savvy, or you’re looking to get up and running quickly, software that’s more vanilla might be a good decision. These sorts of platforms offer a basic setup that’s created to be simple and accessible. However, other platforms offer varying degrees of customization, from merely changing the background color to incorporating your code through their scripting language. This customization is often perfect for more advanced or niche traders that need something special.

​Fees vs Help and Support

Lastly, we also recommend weighing the fees for a software platform (and its associated broker if there is one) against the level of support you’ll get. For some traders, platforms that offer low-cost or even free trades might be the route to go. But often, associated fees can come with fantastic support that ensures that your software is always working properly and that you can get someone by email or phone whenever you’re trading. This kind of assistance can be invaluable as you hone your trading experience.

Many years ago, penny stock newsletters had the reputation of being shunned by the investment and financial communities. These bulletin-type communications were once seen as containing false information or otherwise being used to trick novice traders into making unwise trading decisions on companies with little future. Many still are very scammy, and all of them should be scrutinized before joining anything. 

But in today’s modern world, times have changed and so has many aspects of the stock market and trading world. While investing in penny stocks comes with its own set of considerations, an entire trading niche has now grown up around these types of securities. Above all, in a growing market, stocks that begin below a dollar can quickly have a strong year and become real success stories. This has most notably occurred in the tech and bio-pharmaceutical industries in recent years, with some penny stocks going from a dime to the $10 to $15 range and beyond. No longer are the newsletters that track these types of stocks seen as the bane of the industry as they once were. Let’s explore some of the top reasons to consider today’s penny stock newsletters.

Obtaining Hard to Find Information

One issue often facing companies with stocks below $1 is that it can be difficult, if not sometimes impossible, for retail investors to get good information on company specifics. While the targeted company might have a website with some details, the finer points may be sparse or overlooked. Information such as company restructuring information or other planning can be completely absent in many cases. Penny stock newsletters will regularly present this type of hard to obtain information on these companies, which can be essential to traders in this niche.

Lists of Companies to Further Review

Because there are 10s of thousands of penny stocks, sifting through the noise can be a challenge. Yet, penny stock newsletters, if nothing else, can furnish an ongoing list of companies for additional scrutiny. Many traders in this niche get daily newsletters that simply list penny stocks alongside some of their fundamentals or that have seen higher volume in recent days. This allows you to perform additional analysis and research on the selected stocks.

Surveying an Occasionally Speculative Niche

And today, not all penny stock newsletters are merely highlighting the big gainers. In niche trading areas like penny bio-pharmaceutical stocks, you’ll find a more balanced comparison of both sides of the industry. In addition, items like calendar dates for upcoming FDA approvals and other events help put this and other niches into perspective to determine what the right decisions are for your trading setup.

Smaller opportunities that Swing to the Upside

Finally, once in awhile, a chosen penny stock will see amazing gains. Newsletters can provide information on the possibility of acquisition of a stock by a larger brand or of recent news from overseas about a government contract that a company might be in the bidding. This information can often be neglected in more major newsletters or on more mainstream financial websites. But in contrast, penny stock newsletters are increasingly becoming a mainstay for this expanding trading niche. There is a big difference between reputable penny stock newsletters and pump and dump schemers.

An important communication weapon in the arsenal of many traders is the investment newsletter. You'll find sites across the Internet decrying financial newsletter as if they’re the biggest scam of all time. So what gives? Like with trading-based forums, investment newsletters, like anything else, can be a force for good, or they can mislead. Being able to distinguish between the financially insightful and the frauds is a matter of assessing several factors. While some newsletters are produced by people who higher markets to promote a particular set of stocks, many others are worth subscribing to, especially with the growth of the Internet trading community. Let’s take a look at some factors to consider when deciding on an investment newsletter.

Access to New Data

What were the chances that the UK would leave the European Union in 2016? Or how about this one: what are the average chances that a stock will reach its 3rd pivot point on any given day? These are great questions, and often you can find trading newsletters that present this exact type of data. Having access to it can help you refine your ideas and back-test new strategies. Consider the quality of the data that every newsletter delivers to you.

Providing Strong Analysis

And while data is a good starting place, another aspect of evaluating is the level of analysis contained in any newsletter. Even though you’ll obviously want to avoid newsletters with titles in all caps and lots of exclamation marks, also be leery of ones that sound reasonable, but don’t lead to actionable analysis. Any good writer can make a story up that sounds good about a security, but you’ll want to focus on information that gives you new perspectives, mitigates your risk, and increases your gains.

Take the Temperature of the Markets

Though it’s sometimes necessary to read between the lines, you’ll find that newsletters with multiple authors offer a meaningful purpose. By reviewing the thoughts and trades of other investors, especially if you’re subscribed to a daily newsletter, you’re putting the finger on market sentiment that can make a big difference. This allows you to have a better understanding of how the market might react to upcoming events or developing situations.

Finding Up-and-Comers and Discovering Sector Performers

As mentioned earlier, you want to avoid newsletters that are really simply marketing for stocks, so-called “pump, and dump” schemes. But newsletters that are dedicated to a particular trading niche or a certain sector can be invaluable in pointing out securities that are on the rise or otherwise showing strength. You’ll also get additional details about the industries and companies that interest you most by traders with those same interests.

Learning Tools and Mentoring

Trading newsletters that have regular writers also provide a final benefit to many investors, especially in those early years. Even a casual situation where you’re able to read the writing of a seasoned (and successful) investor offers a mentoring opportunity that can be profitable. Whether it’s learning from the past mistakes they share or their willingness to communicate privately via email, mentors can act as a resource for learning tools that you can’t get anywhere else in the market. And that makes them one of the most important aspects for continuing to subscribe to a preferred trading newsletter.