If you are new to investing in stocks, you may be unaware of the tools that can help you to receive the best return on your investment. If you are beginning the research process for investing in stocks and wish to learn more about how to get the most from your money, we can help you.
Read on below to find out how a stock screening tool such as the stock screener from AlphaSpread can help you to get more money from your stock investments.
What is a Stock Screener?
A stock screener is a tool that is used in tandem with your stock market website or app to inform you of changes in the market. Think of it as a filter that can be applied to your stock market interests that will analyze the stock market in line with a variety of programmed parameters.
A stock screener will enable you to set the program to sort through all of the stocks included on the site or app that you use. The ability to quickly and continuously sort through thousands of stocks to give you the details of the stocks that meet the criteria of what you are interested in can save you hours of time.
Is a Stock Screener Difficult to Use?
A stock screener is not a difficult tool to use; it is designed to do the difficult work of monitoring the stock market for you. You can make a stock screener easier to use by using a preset screener from a site such as Alpha Spread.
Stock screening sites offer prebuilt options that allow you to begin using the tool without causing a delay. Alternatively, you can use a template on the site to build your own stock screener to meet your needs.
You can also use a stock screener with alerts to give you updates while not actively monitoring the screener. Most screener alerts will be delivered weekly, giving you information based on the criteria you dictate.
Using Your Stock Screener
To begin using your stock screener, you will need to set the top filters known as universe filters. This will begin to narrow down the stock options that the screener will monitor. It is important that you set the main filters; otherwise, the stock screener will check all available stocks for the specific parameters you set.
Not using main filters will mean the screener will take significantly longer to sort through the stocks, or it may not work at all due to the volume of data.
Once you have set the universe filters, you can begin to narrow down the field of the stock screener you are using further. Each screener that you use will have preset filters that you can apply to analyze exactly what you are interested in.
If you are interested in making serious investments in stocks, a stock screener is an essential tool to assist you in making relevant investments. Having the ability to refine your stock options and see specific data that you are interested in can save you time and allow you to invest more.
