Stock Picking Software – Does It Really Work
Since stock trading came to the internet there is one thing that’s caused more debate than perhaps anything else. Stock picking software is really something sounds great, but can software really picks stocks accurately? The promise of greater accuracy and gaining an edge over other traders is what first sparked the frantic development of so-called AI software for traders and in recent years its taken on a whole new dimension.
There are those that argue in favor of stock picking software. When it comes to trading we are often our own worse enemy and over-analyzing a stock or failing to see certain aspects can make this kind of software extremely useful and in this sense even more accurate.
Opponents of stock trading software will argue that by removing the human factor you remove the “common sense” and an experienced trader’s ability to assess value. Can a computer really think like a human being can? Can trading software go on a “gut feeling”?
The argument is most certainly valid both ways but the fact that trading software has become extremely sophisticated is undeniable. In my opinion you would be dumb to ignore the advances in software to help you as a tool for trading – especially if you are a day trader or a less experienced trader.
The key to make stock picking software “work” is to only use it as a tool. You should never remove your “common sense” or experience from the equation. If you can combine the two you will have a much higher chance of succeeding. The truth is that 90% of novice traders lose all their capital within the first 3 months. Using a tool like this can only help you make more informed decisions.
In the end, trading is all about picking stocks. Its as simple as that. Pick the wrong stock at the right time and you fail. Pick the right stock at the wrong time and you fail. Getting it right is not easy, but at least the right stock picking software can help you and give you some guidance.
Does it work? Well, it still depends on you! You have to make it work. Online trading is a very dynamic process and s the software get more sophisticated we have new challenges to deal with. However, there’s no denying that you have to need to get the experience and learn the ropes. The more you know, the more stock picking software will help you.