Online investment software or an analytical program which does all of the number crunching for you to direct you right to the best stocks to invest in has been growing in popularity in recent years.
These programs were originally only used by professional traders to help them in their market analysis research, but the algorithms which fuel these programs have since been made available on a consumer base level.
Nowadays they're literally dozens and dozens and dozens of online investment software programs all claiming to deliver moneymaking stock picks for you.
Here is what to know about online investment software and whether or not it is for you so you can make the kind of money that you want.
These programs work in the first place by taking the full range of the market into analysis every time they look at current market data.
This is effective because stock behavior repeats itself in differing stocks and if you can find similarities between two stocks, you can get a very precise idea of how that current stock is going to perform just by looking at how the stock of the past did.
Investing professionals first used and developed online investment software because it's difficult to look at the full range of the market to find these overlaps without this technology.
Some programs focus entirely on penny stocks and I like to say that penny stocks and online investment software were meant for each other because if you can find a soon-to-be well performing penny stock and trade ahead of the curve on it, you stand to make the biggest profit as these stocks are known for their volatile and quickly fluctuating behavior.
Day Trading Robot and Penny Stock Prophet are two such online investment software options which only target penny stocks and if you are interested in making a big profit in the short term and have a little the time to keep your eye on those stocks, you can make a killing without a great deal of time or experience required.