More Good Features of Fonestock

Actually when using this software I kept discovering neat features left and right.  For example, if I click on the small "i" that appears at the right side of the stock info for one of my stocks in my watchlist, another screen will pop up.  This screen allows for several technical indicators to be run simultaneously.  This software provides a benefit that none of the other software packages I used provided:  Using Fonestock allows you access to thirteen (13) different technical indicators!  If you recall from my previous posts, these technical indicators can be like your friends that can tell you when certain stocks are entering trends or when it may be a good time to buy or sell a stock.  For each technical indicator you will be told whether the results are "bullish" or "bearish."  To simply these terms, bullish means that the stock is moving upwards whereas bearish means the stock is moving downwards.   Also, the terms bullish and bearish could be used in reference to how optimistically or pessimistically a stock is currently being viewed. 

Clicking on the “Functions” button at the top of your screen will take you to another selection of options from which to choose from to analyze your stocks.  First of all my clicking on the functions button in the upper left hand corner from the intraday chart or from within the indicator charts, you will be able to compare one stock to another stock or indices. You may wish, for example, to do this to compare a competitor’s stock to your own or to see how your stock is doing in relation to the market is it being sold under.   

Fonestock allows for up to six different stocks or indices to be compared at one time.  Keep in mind if you compare more than a couple, you will need to remind yourself of which color represents which stock or index.  

The chart button allows for the candlestick chart to be displayed.  I have found no other free app thus far on the Apple apps store that is provided such detailed information as candlestick charts in their free software packages.  The candlestick charts can be resized by simply “pinching” the screen.  Furthermore, recall those thirteen (13) technical indicators I mentioned earlier?   

You can also choose to display that same information in chart form (two charts at a time) below the candlestick chart by simply clicking on one of the two charts and then selecting which indicator chart you would like to be displayed.  You can choose from Volume, RSI, KD, MACD, Bias, On Balance Volume, Psychological Line, Williams%R, Momentum, Oscillator, AR/BR, ADX/DMI, and Tower.  

You can easily change the display of this information by clicking the function button at the upper right hand corner of your screen and selecting from viewing a daily, weekly, monthly, or 5-minute chart.  Furthermore, these indicators can be adjusted through the “setting indicator parameter” under the functions button in the upper right hand corner of the chart window.  For those that have a good understanding of statistics and technical indicator analysis, this is a valuable tool in determining the right moments to trade certain stocks.

One thing I noticed that I did not like was that the software only provided bid and ask prices for those stocks being traded on Taiwan exchanges, any stock I am following currently on other exchanges cannot for some reason display the bid or ask prices. 

Furthermore, when I go to view the “quote” screen from my intraday data chart, I can only see those Bid & Ask prices with additional info for those stocks traded on the Taiwan exchanges.  More company “profile” information also seems to be available for those companies traded on the Taiwan exchanges as well.  Although this information seems much more plentiful than other software that I have surveyed. 

 

The software also includes a portfolio feature that is in a sense an extension of your watchlist.  Your watchlist can give you quick real-time overviews of what is going on with your stocks but your portfolio can help you keep track of all these in one place, especially in relation to your gain or loss of money! Stocks are added to the portfolio in a similar manner, as with the watchlist except this time you will need to indicate the stock name, price and number of shares.  You will need to manually enter this information.  Just for fun I added a few shares of Apple’s stock in which in my imagination I purchased for $50 a share. J You can view your portfolio in relation to today, price, change and gain/lost.  Also if you do actually end up trading this stock that you have bought later on, you will be able to view your realized gain and loss by keeping track of it right within the Fonestock software.

 

Another missing feature of most software packages is that of alerts.  I did not really see many of the other packages providing any alert functions or features.  Here from the “my alerts” menu (which can be accessed at all times by pressing the corresponding button at the bottom of your screen) you can simply add an alert by providing a few details about a stock including symbol, criteria (can choose between price, volume or any of the technical indicators previously outlined), a trigger and how you should be alerted in relation to this trigger.  For example I have entered the Citigroup Inc. symbol and 40 as the trigger for the criteria of price.  I can now choose whether to be alerted when the price falls to, rises to, reach upper bound or reach lower bound in relation to this 40$ price trigger.  I set the trigger to Price falls too.  After saving and turning the trigger on, I’ll now be alerted if the criterion I set is reached in relation to this stock. I can be alerted either by sound or by vibration.  Histories of alerts that have been triggered are also saved for you to view as needed.

One last feature of the Fonestock software that I would like to review is Marketmovers, which is located under the “More” screen that can be accessed at any time by clicking on the on the “More” icon on the lower right hand corner of your screen.  Marketmovers is a very interesting feature of the Fonestock software package that allows you to select a portion of or an entire exchange to locate the top dollar gainers, dollar losers, percent gainers, percent losers and finally volume actives.  This tool can be used to quickly and efficiently point your attention to a stock that is experiencing some drama change in the market.  You can also easily set the data count, so that from 10-200 stocks can be displayed for your review.

Lastly, of course there is a settings area that allows for the connection to automatically be established when you launch the program, input your user name and password (for paid accounts), register, easily access the Fonestock website, turn on or off the audio alerts, and adjust your auto fetch settings. 

I really think that I have located a gem here with my discovery of Fonestock and I am looking forward to continued exploration with this software as my guide.  I think the best part of all is the ease and intuitiveness of this software.  I found it very user friendly and easy to teach myself how to utilize all the features I have described in these past few articles.  Now that I have had my chance to play around with the software, I can really begin to get to work!