How to find and analyse company shares for your portfolio is a constant problem whether you are a beginner to investing in the stock market or an experienced private investor.
One of the ways you could do this is to stick a pin in a copy of the Financial Times.
I jest of course and don’t recommend you doing this but from the emails that I receive on a regular basis from exasperated beginners, the processes you are using (or contemplating using) to pick your shares is not even as good as this!
So in this article, I’m going to talk about a method of picking shares that I do recommend and introduce you to an established award-winning software tool for 14 years running.
It’s called Sharescope and I’ve been using it for my share picking and portfolio management for many years now. I can highly recommend it.
So much so that I’ve taken the trouble to negotiate a special discount for my blog readers – that’s you by the way!
I’ll explain more about the special offer and how you can get it later.
First though, let’s review Sharescope.
What Is Sharescope?
Sharescope is a software tool that you can use to find and analyse companies and their shares.
It comes in three versions – Gold, Plus and Pro.
Gold is the version that I use and it comes with end of day prices and alerts.
The Plus version has the added benefit of delayed prices during the trading day and the Pro version has real-time price data for serious day traders.
The Plus version also has more functionality than Gold and the Pro version has more again.
For a full comparison between the versions, click here.
Sharescope is software that you download and install on your own PC.
To get started, there’s no one-off membership fees to pay (previously there was) so you just pay your first monthly fee (or annual fee if you prefer).
Sharescope comes with a 30-day full money back guarantee if you’re not satisfied for any reason.
After the first month, your monthly subscription continues on a rolling basis for as long as you like.
The monthly (or annual) fees covers use of the software licence on your PC, ongoing software updates, telephone and email support and all data feeds.
Of course, it goes without saying that you need access to the Internet with your PC to receive the data feeds and download the software upgrades.
How To Find Shares To Buy
Sharescope contains an awful lot of data that is updated via the data feed.
For a start, it holds all shares from all the UK stock markets (including AIM and Plus), US stocks (NYSE, NASDAQ, DJIA, S&P, AMEX) and many European stocks too (CAC, DAX).
It also holds forex currencies, commodities, gilts and bonds.
It even includes mutual funds such as unit trusts and investment trusts if you want to track and buy these yourself for your self-select ISA or SIPP instead of paying an Independent Financial Adviser (IFA) to do it for you.
As well as the obvious share price data, Sharescope also contains company results, company news and director dealings, for example.
Having all this data available enables you to sort, search and screen for shares that match a wide variety of different criteria.
So if you want to see all shares that have a dividend yield greater than 5% and dividend cover above 2, you can.
If you want to know which shares have risen the most since the start of this year, you can.
I produced a video for my X to 3X in 7 training program that teaches my customers how to do this as well as several other methods for picking shares.
How To Analyse Shares To Buy
Once you have a short list of shares that you might be interested in, Sharescope provides a wide range of tailorable graphs, tables, lists and screens that you can use to analyse those shares in more detail.
So for example, you could look at the historic results or the latest news or whether the directors have been buying or selling their shares recently.
It also includes a wide variety of graphical indicators, to help you time your buys and sells, such as RSI, MACD, Coppock, etc. and many others that are much too sophisticated for me!
Sharescope even includes tools for drawing and annotating the share price graphs to help you with your analysis.
So for example, you can draw resistance lines, support lines and trading channels on your on-screen graph charts to help you work out when a share is breaking out of a trend up or down.
I use these drawing tools all the time and I would not want to be without them.
In short, Sharescope contains all of the data and tools, with links to corporate websites, etc. so that you have everything you need in one place.
Again, the video I produced for my X to 3X in 7 training program teaches my program customers how to do all this too.
It saves me a lot of time searching for stuff on the Internet, which is what I had to do in years gone by.
How To Monitor Your Share Portfolio
When you’ve bought your shares, you can track their progress in portfolios and with stop-loss charts.
Incidentally, you can also use the portfolio capability to set up different watch lists for different stock markets or different types of investment strategy, say.
Sharescope includes an alert facility to let you know when a share hits a particular price (for buying or selling) or when it crosses a line on your chart, say.
It also provides user data fields, which you can use for your comments, thoughts or your own labels.
As these portfolios and alerts are within Sharescope, you are just one click away from the same share picking, analysis and charting tools that you started off with.
Hence it’s very easy to remind yourself of why you bought the shares and see whether anything has changed recently before you decide to buy more, hold what you’ve got or sell.
The news feed is particularly useful in this regard because it is just one click away at all times and saves you the time and expense of reading newspapers or trawling the Internet.
How To Get A Discount On Sharescope
Irrespective of whether you are an investor or a trader, you are going to need company data, charts, etc. to help with your analysis and there are a myriad of different indicators and trading systems that you can use.
I have been using Sharescope for many years now and it might be worth you checking it out for yourself – you never know, you might find it useful too.
If you want to save £20 – £99 (depending on Gold, Plus or Pro) on your monthly or annual fees then make sure you follow one of my ads or links to get the “How To Invest In Shares” special offer that I’ve negotiated for you.