| Picking stocks is not only the secret to successful | | | | it's a good thing, but in the end a level of common |
| trades, but it is the backbone of any trade. Pick the | | | | sense is always necessary. |
| wrong stock to trade and you are doomed from the | | | | The main advantage however is that software can |
| start. Pick the right stock and even a 5 year old can | | | | enable us to do immensely complicated tasks at the |
| make money with that trade. The problem however | | | | push of a button. Stock picking software is no |
| is that picking stocks is a real art and a skill that very | | | | different. With the ability to identify complex patterns |
| few master. This is one of the main reasons why | | | | and simplify trends it can give novice traders a huge |
| stock picking software is such a hugely popular topic. | | | | advantage. |
| The question then is does it work? | | | | So, does it work? Well, it's a double edged sword |
| Stock picking software is NOT what most people | | | | and while it can be a huge advantage it can be a |
| make it out to be. Often its sold as "automatic" and | | | | lethal weapon in the wrong hands. For it to "work" |
| "beyond human" but what in reality it only tries to | | | | you always need to have that human input. You |
| mimic human thinking. There are some very distinct | | | | must filter ever stock pick through your own good |
| advantages and disadvantages to using software to | | | | common sense - and off course your experience. |
| pick stocks. | | | | Use it as a tool and don't just blindly follow it. If you |
| The major disadvantage is that the software | | | | do that you can have a lot more success and make |
| completely removes the human element of thinking, | | | | intelligent, informed and sensible stock picks with |
| reasoning and using common sense. Some argue that | | | | ease. |