Drew Housman is an active investor and sr. editor for Whotrades.com
I’m a guy who likes to keep it simple. For example, I enjoy food, I don’t like taking all that much time to cook anything. if I have the choice between microwaving a baked potato in five minutes or taking the time to bake one to perfection for 45 minutes in the oven, you can bet I’ll be nuking it. Sure, the oven-baked potato might taste slightly better, but that difference is not enough for me to get excited about. The microwave gets the job done.
I try to think of investing in the same terms. If you are trying to improve your portfolio, you can use any number of strategies. Many of them are the equivalent of baking your potato, and maybe even adding some fancy garnish and a special oil to make the skin crispy. Delicious. but unnecessary if you are hungry and just trying to eat. Take, for instance, Seasonalysis, a site dedicated to helping investors identify seasonal price patterns. Maybe this is my inner Clint Eastwood “get off my lawn” type attitude coming out, but that seems unnecessary for me. Sure, people might make money trading like that, but for the average person it feels overly complex. There are innumerable strategies even more complex than seasonal analysis. Personally, I want to keep my trading simple.
That’s why I opt for an easy to use, functional app like MOMO. It’s like the stock version of microwaving your potato (with way less harmful radiation side effects.) The app makes it clear how you are doing and where you can be improving, in real time. No need to know what the weather is going to be like for the next 6 days in the Midwest in order to know what stocks are going to break out. MOMO’s algorithm takes care of the complex technical analysis for you, and sends you alerts to make sure you know when to make the ideal trade. Guesswork and heavy lifting are things of the past.
If you’ve been wanting to dip your toe into trading but it seems to complex, this is for you. If you are a seasoned trader whose desktop looks like something out of the movie A Beautiful Mind because you have to keep 78 windows open to track all your trades, this is for you. MOMO’s tagline will never be “The Microwave of Trading Apps” but maybe it should be.