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We all dream of sometime hitting it big and making a fortune on hot stocks – but we aren’t always trusting on our ability to analyze and beat the stock market. If you do not have the required knowledge, these trades may end up costing you a lot of money instead of bringing you to the winning side. This is why you need to invest in the right stocks – and to do that, you’ll need someone to teach you how to pick them. In this regard, we will guide you so that you only pick the best stock picking services.
Best Stock Picking Service: Top 5
1. The Motley Fool Stock Advisor
The Motley Fool Stock Advisor newsletter exists for more than 10 years now. David Gardner and his brother Tim send their investment alerts out to thousands of subscribers. Their services have two major advantages. At first, their services come with a risk-free 30-days money-back guarantee. That's a clear sign that they are convinced about their product, and their success rate is high. The other advantage is the fact that any investor can copy their trades easily. That's because they are using the closing price of the day where a specific stock was alerted. This is fair, transparent, and kind of unique in the industry.
- Easy to duplicate stock picks
- Low yearly cost
- 50% discount available
- Not entirely suitable for day traders
2. Jason Bond Picks
Jason Bond's service exists for over a decade now. Jason mainly focuses on swing trading stocks below $10 with low float and high momentum. He trades mostly his fishhook pattern on the daily time frame. During the trading day, he sends a pre-notification to all subscribers and confirms once the trade was finally made. The service is transparent since he is sending a watch-list before market open, then the pre-notifications, and finally, the trade executions. He also provides screenshots of his trading account frequently.
- Day traders and swing traders get a reasonable number of stock trading alerts per day
- Extensive education material within the dashboard
- Stock picking service with Email-alerts, desktop notifications, and SMS
- Trades are not always easy to duplicate
3. Trade Ideas
If you are on the lookout for one of the best stock picking services based on high-end technologies, then you might want to look into this one. Many day traders appreciate it for the fact that it is a unique artificial intelligence based trade alert service which comes free of human emotions. Trade Ideas' HOLLY investment engine generates trade ideas during a trading day. Investors can connect Trade Ideas with the brokerage account and execute all alerts automatically. That's basically like having an own hedge fund.
The trade alerts can also be executed manually by following the trade alerts within the Trade Ideas app. Ultimately, this platform provides a lot of flexibility and freedom - which is excellent for a beginner. It is not needed to sit through every trade, waiting for alerts. It allows us to go through daily life while perfecting trading skills.
- Freedom to learn at your own pace
- Real-time alerts
- The platform features great educational lessons
- User-friendly and perfect for beginners for emotional free trading
- The flow of ideas might be slightly overwhelming
- Only suitable for day-traders
4. Warrior Trading
If you are looking for more choices and alerts in the trading world, then Warrior Trading is certainly going to help you out. No matter if you are a beginner when it comes to trading or someone that wishes to up their game, this is considered the best stock alert service for those looking to make a trade.
They say that there is no trading service that offers a better chatroom for day traders than Warrior Trading. The moderators are top grade, and the conversations there are generally easy-flowing and not-at-all difficult to understand.
That being said, even if you go off the chat room, the experts will still continue to help you. You are fully connected to daily video and audio feeds so that you can make the right trade picks in real-time.
- Brokerage account statements available on their website
- Nicely arranged educational materials
- Very accurate stock picks streamed in real-time via screen share
- Alerts are also sent through SMS and email
- Customer support is excellent
- Costs are at the higher end
5. Black Box Stocks
Blackboxstocks.com is a trading community that grows more and more. It began as a small service with some neat stock screener functionalities. These days, Black Box Stocks is a well-situated trading community with hundreds of members. Their screener now also has features like dark-pool options scans and various top-lists. Besides the screener, a Twitter group for members and a discord channel is ready to get explored. Trade alerts and stock picks are published in the different trading feeds. Day traders and swing traders get access to many various features, including education sessions, for a fair price.
- Stock screener, Discord channel, and private Twitter group for members
- $20 discount available
- Monthly subscriptions available
- Not for long-term investors
What Is a Stock Picking Service?
This is something that has been designed for investors to help them find good stocks through day to day alerts – the ones that will help them outperform the market. These platforms will help both those that are just beginning in the world of trading and those that have decided to make a living out of it.
These programs generally include videos and chat rooms for people tolearn, but also to further dive into the world of online trading. They represent the perfect place for you to find strategies, ideas, and a lot of tips to understand the overall trading topic. For beginner day traders, it gives them a jumpstart – whereas, for experienced day traders, it ensures that it keeps them on edge.
Things to Look For in a Stock Picking Service
When you are looking for a good stock picks service, there are a few things that you might want to consider first. While bearing in mind that these programs sell recommendations and advice rather than clear-cut results (the latter is up to you), it’s important to choose the one that has the most to offer. Here is what every user needs to keep an eye out for.
General Market Conditions
Most stocks move up along with the broad market – which means that if you see the S&P 500 going up, it’s very likely that the individual stocks will be going up as well. Every service can be a winner in a strong pull marker, so instead of looking at its current results, look at who has the best stock picking record. This way, you will see whether its results are based on market conditions or on its actual efficiency.
Such a program/platform will have its own ways of calculating the performance. Some will keep a close eye on cumulative performance, others on selective performance. Both have their advantages and drawbacks, and may not always show accurate results – but when put together, it may give you a pretty good idea of the win rate. Nathan Bear from Weekly Money Multiplier has the best win-rate we have ever seen.
Some of these programs can give you results in months, whereas others can be fruitful in more than a year or two. Regardless, every quality time stock requires that it has a time frame. Make sure that this time frame lines up with yours (for example, a younger investor might have a different time frame in comparison to one that is nearing retirement).
Bear in mind that if you opt for such a program, you are not excused from the risk management responsibility. Since each investor features different risk thresholds to stock volatility, you need to make sure that you can stomach it – and that you also have a good risk management strategy to rely on. No matter if you avoid volatile stocks, take small positions, or cut your losses early, you need to have a good way to manage risk.
You do not have to pay loads of money for a monthly service – which is why you may want to choose the best stock picking websites based on their costs. If you are a beginner in the world of online stocks trading, then you might not want to throw a big investment right off – but instead, go for a basic package. You may work your way from there, and then go on to the premium packages as you get better.
What does this service have in comparison to others? Does it have any alerts? How many of the professionals involved in trading actually join the chatroom every day? Does it have a library with video lessons? Depending on whether you are a beginner or a pro, these options can make the difference between a successful investing spree and a failing one.
Types of Stock Picking Services
When it comes to these types of programs, there are two options that you may go for. It’s important that you go for the ones that meet your requirements so that you may get your money’s worth. Here is what you may choose from:
A good number of programs take the shape of research platforms. They do not exactly tell you when you should be buying and selling stocks – but they will provide a variety of tools to help you find these opportunities. For instance, software companies may provide scanners for you to find unique opportunities.
Unlike research platforms, these are the services that will recommend any long-term investments to you. They provide buy-and-sell entries, making it simple for a user to copy the trades of another investor. They also put great emphasis on alerts.
Finding the best stock picking services is not going to be easy – particularly considering how many good ones we have on board. However, with the proper research and an analysis of your own trading habits, it should be quite easy to find a good program. No matter if you are looking for alerts or lessons, there has never been a better time to enter the world of day trading.