Developer: Chaikin Stock Research LLC
Price: free Download on the App Store
I once tried trading stocks for a living. It lasted about a month and ended with my accountant asking me what the (insert explicative) I was doing. I quickly went back to my day job, but have always kept a fascination with Wall Street with me. So what is it that gives Wall Street the advantage? Knowledge. Nothing else. They know something that you don't. That's literally the only difference between the 99 percent and 1 percent. Chaikin for tradeMONSTER aims to try and level the playing field.
But first, a quote from the famous Gordon Gekko of "Wall Street" fame: "I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought."
What does that even mean? Well, it means have the facts before you do anything. Of course, I think he's talking about insider trading as well, but that's a big no no in the eyes of the SEC so don't do that. Instead, take Chaikin for tradeMONSTER for a spin. Developed by stock analyst and Founder and CEO of Chaikin Stock Research Marc Chaikin, the app works to aid you as a decision-making tool that has "previously only been available to Wall Street professionals."
First off, it requires an account with Chaikin Power Gauge, which from what I can tell on their website is $9.95 per month or you can save 20 percent on a yearly subscription. This service is what their experts are selling ... a sort of report that provides in-depth analysis on specific stocks. So instead of you going out and doing all the research, they've done it for you.
As for the function of the Chaikin for tradeMONSTER, the app provides you with an easy breakdown of all the complex financial data into easy to understand displays. This makes it easier to make an informed buy or sell decision. I have an account with Scottrade and their app isn't that great. It does the trick if you already know what you're going to do, but doesn't seem to have any informed decision power tools.
This app also allows you to monitor your stocks and see how they're doing. Basically, you get a health meter that uses a 20-factor stock rating model (kind of like your local oil changing shop's 21-point test) to ensure you're portfolio is performing well.
In addition, you cans setup alerts that ensure you have all the up-to-date information on real-world events that could affect the value of your stocks ... say a big oil spill, bankruptcy filing, new patent lawsuit, etc. The best thing about this is that they're in real-time so you get them as soon as they're reported.
For some tips on how to use the Chaikin for tradeMONSTER app, watch the video:
With its real-time alerts, easy to understand stock research and access to expert market research, Chaikin for tradeMONSTER is something you should definitely check out. Overall, if you're in the market to setup a trading account or looking to try something new, Chaikin for tradeMONSTER looks to be a winner.