What Is A Stock Watchlist?
A stock watchlist is a macro view of stocks that an investor currently trades or is interested in trading. Beyond just grouping stocks together, a watchlist is generally designed to be sortable and filterable to help an investor make decisions quicker (this is especially important when trading options as it helps determine the entry strategy).
dough Trading App - Watchlist
One of the best features of the dough trading app is the stock watchlist. You can find the watchlist on the grid page (as seen below).
Why Should You Use The dough Watchlist?
Here are the top five reasons that you should use the watchlist app in dough:
- It's FREE - you can use the watchlist in demo mode or in brokerage mode for free (*note: the demo mode version has limited features).
- Create Your Own Lists - you can create your own watchlist based on which groupings of stocks you would like to see in one view (not available in demo mode).
- Sort Lists Based on IV Rank - most stock watchlists are sortable by the typical elements of a stock (i.e. net change, net change %, last price, symbol name, etc.), however, one element that sets the dough app apart from other apps is the ability to sort by IV rank.
- Use Our Preconfigured Lists - we offer several lists to help get you started. This includes a list that gives a macro view of the market (aptly named 'Market'), a list that shows the most heavily traded options ('High Options Volume'), and 'Notable' list that shows underlyings with the following criteria: high IV rank, low IV rank, high liquidity, and/or upcoming earnings.
- Set Up Email Alerts - want to monitor an stock's price, but don't have the time to follow it throughout the day? No worries! Just set up an alert on the watchlist and receive an email once a stock reaches the price levels that you're targeting.
Why is dough's stock watchlist the best?
I asked a couple of younger traders this very questions, here are their responses:
Now that we have extensively covered what the dough watchlist is, how you can use it, and the benefits, I would like to leave you with a couple of my personal watchlists as a source of inspiration:
I use the ETF list a lot since ETFs are what I primarily trade nowadays (because of their liquidity and ability to trade .5 - 1 point wide strike prices). I use the 'small underlying' list to trade small stocks in order to perfect my 'covered' strategies (i.e. covered call/put).
Each person has their own way of trading and using a watchlist, to see how I use the dough watchlist in my trading regimen, check out this post!
To learn more about the watchlist on dough, check out this webinar featuring support rockstar, Ryan.