AUG 26: Online Stock Market Trading Software

by David Jenyns on August 26, 2006

Online stock market trading software has become big business. Some of the software for sale purports to teach us everything we need to know about the stock market. Some of it promises to teach us about the stock market by analyzing current and past trends. All of it promises to pick the right stocks to trade. I ran across one ad for online stock market trading software that said if you spend more than five minutes a day in the stock market you’re wasting your time.

The ad goes on to say that we don’t need to understand anything about the stock market or the stocks, all we need to do is blindly follow the instructions in this $299 course and we will make money in the stock market.

After several “testimonials” praising this system and bragging how rich everybody got by following this system, there is the obligatory disclaimer that basically says, “None of what I just said was true and you won’t really make any money.” Since fine print has gotten finer though, many people won’t read that part.

I would personally welcome the opportunity to take a course in online stock market trading and use all this fun software. I believe there is reputable software out there that will teach us newbies what the heck is going on.

However, I would much rather buy software and training materials from someone who advocates my understanding what I’m learning as opposed to “you don’t need to understand why a stock does anything or what the company makes or how they are doing. Just close your eyes and do what I tell you.”

I would much rather a so-called course give me the real skinny on online stock market trading so that I can make an informed decision about what I’m doing. Show me how all this works and tell me to watch out for this and don’t fall for that and make sure you do this before you do that.

Stock-Trak.com is an online stock market trading simulation. You can pay $15 for one month or $25 for 3 months and trade pretend stocks while you learn. It looks like fun but there doesn’t appear to be any real instruction. I suppose you know you’re successful if you make money and you blew it if you lose your pretend money. I think I’d rather have an instructor chart my progress and explain what I did wrong in a particular deal and how I can do better next time.

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