Stock traders can leverage all sorts of tools to optimize their performance today, and if you have a decent amount of development experience in your arsenal then your options are even broader.
Here is a look at the solutions that tech savvy traders should be investigating this year if they want to get an edge over the competition.
This is one of the best stock market APIs which provides access to in-depth data pulled from reliable sources in real time, while also serving up information on market performance over longer periods. Click here to see more options like it.
It covers forex as well as digital and crypto currencies, promising to deliver speed and accuracy in equal measure. Its unquestionable 100 percent success rate singles it out as a particularly impactful tool for any stock traders that want to base their decisions on rock solid info.
Because it is an API, it can be integrated with existing apps to enhance their functionality, or used as the basis for an entirely new piece of software that you build from scratch. This shows just how flexible APIs can be, and once you start using it you will realize why Alpha Vantage is consistently amongst the most popular options in this field.
Emerging news stories can have a significant impact on stock values, as has already been evidenced by the outbreak and spread of the coronavirus in 2020. Being able to stay on top of this and react appropriately is important, which is where this breaking news API comes into play.
The aim is to provide access to global coverage of current events in a single interface, not just highlighting important happenings but also making all of this information searchable, which makes it easier to identify industry-specific stories that might dictate rises or falls that are relevant to your portfolio.
There are lots of other news-related APIs which are created with stock trading in mind, such as FinsentsAPI, so if you do not find what you need from the features offered by MyAllies News then you do not have to stick with it.
Sometimes insights on the markets can be gained not just by digging through the raw data, but also by communicating with others in the biz to see what talking points are shaping trading trends at the moment.
StockTwits is a social media service built around finance and it also has its own API which can be very useful as a means of keeping track of the myriad conversations that are happening across the network, without having to do this manually.
It is often sensible to get an idea of the pervading moods and movements amongst traders, since hunches and emotional responses can lead to just as much change as objective, logical decision-making. Working with this tool will let you get the best of both worlds.
Being able to react to the minute to minute shifts in the market that mean the difference between a big win or a major setback is obviously essential for stock traders in 2020. However, the cyclical nature of many aspects of the market means that being able to take a longer view and avoid pulling the trigger prematurely when patience is a better strategy is also vital.
This is where the Market Cycles API from WhereToTrade comes into play, bringing with it the ability to track and scrutinize the ebb and flow of stocks using historic data that can then be applied to your daily trading decisions.
Once again it is worth mentioning that only those with development experience will be able to use these APIs to their advantage, so if you are not in this group you will need to secure the services of an expert to use them.