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Step 6: Setting up your system

In today’s article we are going to learn about step number six of the series F&O shots and today I’m going to tell you about how you can set your system. Also, in your system, you should know about the apps you should use and software’s and news updater so all these things I will tell you in today’s article. So, let’s begin

So, hello friends, as you know my name is Arun Tiwari and this is our Mark2Market short series called F & O shots.

Question 1) Why you require all these apps, systems and updaters?

Sol.:- Because without them if you are doing any kind of investment then it will be the blind investment or blind trading and even if you are following somebody you should not follow anybody blindly. You should always crosscheck that what is going on around.

So, lets first discuss about the apps. Now a days lots of apps are available for stock market and there are thousand of stock related apps you can get it but basically what I’m going to tell you is 3 apps which are very simple which you should use. I have been using them for a long time.

First is “Sensibull”. There is a free version also and there is a paid version also. In free version you can watch some simple stocks but in paid version there are some slightly more features available so I use advanced version. To understand it in detail I will write a separate article for apps and in that article, I will review which apps are useful and which are not and if you are starting then which app is good for you because some apps are very advanced while some apps are only for beginners.

So, for sensibull”, it is good for starters. It has a very nice feature and it is not heavy for knowledge part. So, it is a good to start with but I will do a details article of all these apps.

2nd you can try “Opstra Option Analytics”, it is middle of sensibull and myfno. I’m not saying that opstra is very basic. It has slightly advanced and complicated features.

3rd you can try Myfno, if you talk about myfno, then its very detailed and if you are at advanced level then it is definitely required.

So, you can do some research and then decide which app you should use for starting up but these 3 apps you can try. Also, let me clarify that none of these apps has paid me and this article is not a promoted article.

Question 2) Which software we should use?

Sol.:- Software is a backbone of your trading system. So earlier days there was lot of software systems which you have to installed which you called as net you software. Even now, the professional brokers use the net you software because it is installed on your system and if you have a good system, you can use it really well. However, now most of us, do the trading on mobile while travelling, while doing some other work or even at office. So let me share some of the things which you can try that these software’s are provided by broker itself. Either they will provide the complete software with data or they will provide you at least the data and use your system. So, if I use Zerodha or kite. Kite is basically a web version.

There is no need to download and install in your computer and even you can run that on the mobile. It works very well and nothing else I have to say about that. Now friends if you are using a software provided by a broker then it is very important to have a broker who is having a good system and this is what I told you in my previous articles. So, if your system is robust and your software is robust then you will not make any unnecessary mistakes which will cost you money.

Apart from that there is lots of other software like MB broker but that is generally requires for traders who wants to go on advanced level so it is very quiet cost also. So, most of my reader who has just started, then they would not require that much of analysis at this point and another thing I want to tell you that lots of people buy lot of costly software without understanding that software will make you book profit. It is not a case. You should first have to obtain the understanding of how to deal the market and then with the system. System is system. It is just a data. How you will be going to utilize the data that’s the point.

Question 3) What are updaters?

Sol. :- Updaters are basically from where you get the news and your opinion about the market. So first and free things you can try is google news from where you can select the business and technology. This is the first and free thing which you can access any time.

Second thing of course “Money control”. It has huge amount of data and information. The only thing if you are short of time then do not use this. Google news is more then enough. If you want to be little bit professional then you can use business economic times. You should use the paid version because in free version you will not get half of the news. This is very good way and do not take any lead from economic times just get the broad idea of the news that what is happing in the world and what is happing around you and that will give you a fair idea that whether you should buy the market or sell out the market.

So, these all 3 things I wanted to tell you in today article and that’s all. Although it is very short article about apps but I will definitely write one more article to review the apps, their feature.

Later ill also write about how to use the software provided by the broker because that software also has a lot of features and 90% of us had never use such features which are available on that software.

In the next article ill give you the understanding of how to set a strategy which is very important step. So, lets meet in my next article.

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