What is a portfolio tracker?
While the specific features and functionalities may vary, in a general sense this is a tool that allows you to monitor your stocks, and see how the prices are moving. Portfolio trackers are a good way to stay organized and have a streamlined, centralized view of what’s happening with your stocks. The ultimate goal of one of these computerized tracking tools is that instead of having to look at several different spreadsheets, you can go to one place and see all of your investment information quickly and easily. This can help not only in organization but also in the decision-making process.
Below are some tips to help you find a portfolio tracker that’s easy to use and will meet a variety of diverse investing needs and preferences.
There are some great tracking tools that are free, and if affordability is your primary concern, these options can be perfect. One example of a popular free option is available on the Yahoo Finance site. Recently the site has undergone some changes, so long-time users are still trying to find their way when it comes to working around these updates, but it’s still an excellent option if you want something that’s easily accessible, has all the features you might need, and is free.
For some traders, it can be valuable to find a portfolio tracker that includes not just stocks, but also other investments, such as mutual funds and equities. This can make it even easier to hone your entire investment strategy, and maintain visibility into everything that’s happening in one place. If you’re going to be tracking in this way you can often divide your investments into categories or groups.
If you want to retain complete control over your investments but do so in a way that’s relatively effortless, you might consider a tracking system such as those seen in FMG asx that includes customizable and automated alerts. Many trackers can be set up to send users an email or text message if there is a certain drop in their portfolio or a single stock.
With some portfolio tracking tools, you may have to enter your information manually. One example of this is when you use the Google Finance tracker. On the other hand, if you want something that’s more advanced and automated, but might not be free, you can choose a platform that lets you link your investment accounts, rather than entering them yourself.
As a final consideration, if you really a portfolio tracker that does it all, you may want to look in the direction of budgeting software and apps. Many of them offer functionality that can not just let you see where you’re spending money on a daily basis, but they’ll also integrate your investments.