SOFT ISSUES
SHARES MAGAZINE - 27th October 2005
By Giles McMullen
Financial packages can literally turn your computer
into a money-making machine. Giles McMullen takes a look at the latest
products and discovers there are many reasons to buy.
Investment software can help identify potential money-making
opportunities. It is also getting cheaper. If you are thinking of buying
into this market you must do your homework and keep a few things in
mind. This software is a useful guide but is no substitute for good
judgement.
Most providers charge a monthly subscription and it
is possible to spend thousands of pounds a year, almost always unnecessarily.
Before spending anything, decide what you want - a system capable of
fundamental analysis, technical analysis or a bit of both? What about
updated news flow and data-mining? Do you need real-time data?
Real-time price information is an expensive luxury
unless you are day trading. If you investment horizon is further than
tomorrow, you can live without it.
Strictly speaking, online systems are not investment
software. However, in practice they have much of the same functionality
and can be a very good place to start. They will give you a benchmark
for what you can expect. Most of the main players offer free access
to their basic packages. The services are generally limited to simple
portfolio tracking, delayed news flows and prices, and some offer a
basic charting facility.
THE ADVANTAGES OF INVESTMENT SOFTWARE
Online systems are good but software systems tend to
offer greater flexibility and allow faster data manipulation. You will
need an internet connection - broadband is best - and computers bought
within the past two or three years will run most available packages.
It is an obvious point, but do not buy without trying
first. If possible, try a few products. This will give you a feel for
what works with your investing style, so take advantage of the free
trials on offer.
INVESTOR EASE
At £9.75 plus VAT a month, Investor Ease is great
value. It offers fundamental company information, a charting facility
and a huge amount of data and it covers more than 3,000 stocks listed
in the UK.
There are several options on opening the application.
You can look at specific share details, go to a saved portfolio, access
a wide range of fundamental information or view recent director deals
and broker recommendations. There is also a nice feature I have not
seen elsewhere detailing perks for shareholders. For instance, the system
says British Airways shareholders receive a 10% reduction on fares.
Clicking on a company also offers its latest news, results and website.
Investor Ease also has a very good data-mining tool.
With the charting facility users can create line graphs, point-and-figure,
candlestick, OHLC charts and view moving averages, Bollinger bands,
Fibonacci levels and many other indicators.
For the price, Investor Ease is excellent, giving users
low-cost access to a wealth of market information.
The Investor Ease package is available as part
of the ShareCrazy Supermarket Plus subscription package at just £9.75
per month +VAT. Click
here for more information.
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