Lots of us have been there: playing around with Excel and macros to make a well-functioning portfolio overview. Although it works in the end, it is not very intuitive and difficult to view when you are on the road. This has resulted in new technology entering the scene: portfolio trackers. These applications run on smartphones, tablets, and other electronic devices and allow you to shape the portfolio(s) according to your needs. There are major differences when it comes to traditional stock market tracking.
Grouping your portfolio
Depending on your risk aversion, you probably have several clusters of stocks in your portfolio. For example, stocks that you keep for the long-term such as value or blue-chip stocks. Next to that, you can have stocks that focus on the short-term with high growth potential. Here you typically see growth stocks entering the scene. With applications such as the Delta portfolio tracker, you can group these into portfolios to track them separately from each other.
Link groups to objectives
These groups can be linked to your investment strategy. For example, if the goal for your long-term group is to reach 1 million euros, you can monitor the yearly growth of the group and extrapolate. For short-term groups, you have better insight into the gains of your stocks when analyzed separately.
From a technological standpoint, push notifications are nothing new in the smartphone realm. However, portfolio trackers have made these notifications smart through the use of algorithms. Now, you receive personal notifications based on your stocks and industry, making sure you never miss an opportunity. The parameters of notifications on gains and losses can also be adjusted based on the user’s preference. Hereby you do not continuously need to monitor stocks, resulting in more peace of mind.
Be careful with news
Notifications of surges and declines can play into your emotions. Therefore, it is important to be careful with false buy signs. When a CEO steps down or a challenger enters the market, it can indeed be an indicator of lower revenues in the future. The intrinsic value of the company, on the other hand, remains the same as it was the day before. Do your homework before you decide to act upon a news article that was published.
Good news for the crypto trader
Tracking stocks is one thing but cryptocurrencies are a completely different world. Due to high volatility, crypto traders need to know about changes in the market. A crypto tracker helps them to do just that with push notifications and direct connections to their wallets.
Connecting your crypto wallets to a tracker
To get the latest insight into your wallet, you can connect them to the tracker. This connection is made by entering the Public Key of your accounts. This means that they are unable to access your account, but can simply look up all the transactions made on that Public Key throughout the blockchain’s history. This has an advantage over connecting with exchanges (which is also supported) since you can still participate in staking (Proof of Stake algorithms) and other consensus mechanisms that help you grow your stocks.
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