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Ralph Nelson

3 Reasons You Need An Analytics Program Today

You might not know it, but your portfolio isn’t as good as it could be. And, if you’re not using an analytics program, it’s not as good as it should be. Why do I say this so confidently? Well, it’s because I was once one of those people not using an analytic program, and therefore not making the money i should have.

When I look back at the money I missed out on, I am filled with regret. So I created this post as a warning of sorts—don’t be like me, act sooner than later!

If you need more convincing, here are 5 reasons you should get on the analytics game today.

  1. You Can Spend More Time Investing

As the ancient adage goes, time is the only thing more valuable than money, as time can never be replaced. I want you to ask yourself a question: how much time do you use efficiently when investing? Really, look at the hours you spend and find out how many of them are about making money, and how many of them are about things like research.

Of course, there’s nothing wrong with research. It’s a golden tool, one that separates the great from the good. But there’s good research and bad research. Good research is investing your time in the right places—not trying to sort your way through the giant abyss that is the internet.

Bad research goes something like this: you spend an hour on reddit chasing trends, then you go to CNBC and see news that’s too old to be useful, then you get lost reading The Economist (OK, that might be me projecting.) After all that time you’ve spent, how much better is your portfolio? All of this an analytic program can do in real time.

2) Reduce Human Error

Human error is inevitable. It is, after all, one of the things that makes us human. If you remember your days from high school math, how often were you docked points for silly mistakes? Personally, I’d nail a tough equation, then mess up the simple arithmetic. The work was all there, but human error put me in the wrong.

You know how complicated building a comprehensive portfolio can be. And with each complication the potential for human error increases. But, this is where an analytic program comes in. Think of it as a second pair of eyes, except these eyes are stunningly quick and efficient.

3) Get Ahead Of The Game

There’s nothing worse than being a trend chasing trader. It’s a good way to arrive to every party late, and lose money at the same time.

The right analytic program can help you get ahead, and stay ahead, of the game.

Now the question becomes which analytic program is right for me?

Let me tell you, I tried a handful, and after several failures and some minor successes, I found Chaikin Analytics. What made Chaikin Analytics stand out to me, compared to the endless other options, was how easy it was to use, and how I was able to connect it to the Score Priority Store. With my trading and my analytics in one place, everything became easier.

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