Stock Market Investment Software

I came across a piece of stock market investment software called the Checklist Investor. If you have read some of my stuff so far, you know that I highly recommend keeping a checklist of the steps you take to make every investing decision you make. This kind of software allows you to do just that. The reason I think checklists are so valuable is because it takes the emotion out of your decision making. If you have already pre-thought out your decisions before you are in the heat of the battle. It's much easier to follow your plan. If you wing it, you make decisions based on emotion not logically. You can't do that and make money consistently.

You should run your stock market investing system like a well oiled machine. Only changing one thing at time until you see the effect of that decision and how it plays out. You'll eventually develop a list of best practices to follow.

Checklists like this are used everyday by professionals in all fields. I know that as I watch this, I am watching an NFL game and on the sideline the coach has a huge laminated piece of paper that boils down all of the decisions he makes during the game to one page. When he finds himself confronted with different game situations, he has already decided what he is going to do -- before the game starts. When the airplane landed in the Hudson River, the first thing the pilots did when the engines went out was pull out a checklist.

You as an investor, should do the same.