By using various investment tools, you can make investing easier. By using a trading app, you can easily keep track of your portfolio, including values, transactions, and market trends. However, constantly looking at the asset prices on a regular basis (every few minutes) may not improve your investment decisions. Keeping your tracking simple will help you understand what you own, see how you are doing, and spot any changes you will need to make.
- Review Portfolio Performance Regularly
A review of your portfolio will help you see how your investments are doing over a period of time. This can help investors compare their current value with the amount they initially invested. It can also show if their investments are still on track with their long-term financial goals and objectives.
Investors can review their portfolio to:
- Understand their current portfolio value
- Review which shares/other securities have either increased or decreased in value
- See if any of your overall investments have increased in value
- Check that your portfolio is still on track with your goals
Investors can find this information using a trading platform with portfolio summaries and clear performance charts.
- Check Transactions and Account Statements
Regularly reviewing your transaction history can help ensure that you have accurate information in your account. Transaction records may include purchases, sales, settlement information, corporate actions, and charges.
Reviewing recent transactions and comparing them against your own records can help to quickly spot any unknown items, quantities, and discrepancies in the details of the transactions. If there are any discrepancies, these should be reported to your broker or service provider immediately.
You Demat trading app may also provide you with a transaction history, holdings, and account notifications. You should check to see what information is available. If required, additional statements should be requested from the relevant depository participant or broker.
- Set Alerts for Important Changes
There are price alerts and notifications you can receive within your account to keep you informed of any key developments.
Depending on the features, you will be able to receive alerts based on price points, company news, and trade updates. This will remind you to check your investment but won’t automatically suggest you to buy/sell.
Your trading app may have various options for setting up alerts, so it is best to check these to ensure they are personalised to you and your investing habits. Remember, prices change very fast, so you may not receive all alerts.
- Track Diversification Across Investments
Whilst holding multiple securities, you may still be leaving yourself exposed to risks. This could be because most of your investments are in the same sector or are sensitive to the same factors.
By looking at how your investments are split between sectors, companies, asset classes and objectives, you will have an easier time identifying if you have too much exposure to one area and if your portfolio is right for your financial situation.
Using a Demat trading app can help you look at your investments individually at any time. Depending on the app, you may not get full details about the breakdown of your portfolio. Using a spreadsheet or another tracking tool can help give you more of an overview. Whilst diversifying can help reduce over-exposure to certain investments, there will still be some risk to the whole market.
- Protect Account Access and Review Notifications
Investment monitoring will provide benefits if you ensure to keep your account & information secure. Always use a strong, unique password and turn on two-factor authentication if available. Also ensure that your registered mobile number and email are up to date.
Never share your passwords, one-time passwords, or log in details with any caller claiming to be associated with your broker. Be very wary of suspicious links and messages asking you to give away account details. Download the app using either an official app store or a verified website from your provider.
Conclusion
Keeping track of your investments doesn’t have to be too much hassle. Having an easy routine will help keep track of your portfolio. This can include reviewing your portfolio, keeping accurate records, setting relevant alerts, checking your investments are diversified, and ensuring good security practices. When making decisions, focus on the factors that will affect your goals. Using a trading app can help make it easier to find information about your account, but you should still make sure you’re making sensible decisions. Using InCred Money, investors can discover ways to keep track of their investments with discipline.
