Using Yahoo Finance to Track Stocks
I was debating to create my own little web site and database for the stocks I'm tracking. I am going to do quite a few now that I am trying to learn the StockScores strategy I wrote about the other day.
I don't have the time though and Yahoo Finance has a pretty good site to track stocks.
Basically, make yourself and account and create a portfolio. You can enter stocks that are on almost all the exchanges. Since I am trying to "paper" trade stocks and learn from a new technique, I want to track a number of things.
It lets me enter the following information:
- Stock Symbol
- Exchange
- Purchase Price
- Commission
- Shares Purchased
- Sell Point - a warning point if it crosses this price (above or below)
- Sell Price
- Comments - This is important. I can write down what I am thinking about and why I am picking the stock. Plus any fears or concerns I may have.
Comments
The comments section is the big one. For those of you paper trading, this is a great way to record what you were thinking at the time you purchased the stock. Then when you can look back you will know why you made the decision you did at the time.
For those of you technical trading off the charts, make sure you save a copy of the chart as well.
Customizeable
The other great feature with Yahoo is that you can customize the look of your page. Add columns and different data you want to see. They even have some default views you can choose that have different columns selected.
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Category: Finance
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