How to CREATE WATCHLISTS EASILY with Yahoo Finance - YouTube

This video shows you how you create a watch list for your stocks with Yahoo finance and

how you manage it smart and easily.

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Watch lists for stocks and other investments like funds or ETFs are one of the small but

important tools that you need for managing your investing operations.

Here you will organize all of the stocks you own and the stocks that are interesting for

you in one place.

They give you a quick overview about the status of the stocks, the current and past stock

prices and can even function as the major information board for your stocks.

Some of you asked me how to create a watch list for your stocks.

There are several providers on the internet where you can do this for free.

One of the services I personally already use for a longer time is Yahoo Finance.

It is free in the basis version and offers some nice features.

In this video we'll explain you: how you create a watch list with yahoo finance

what the most important items are to have in mind for managing your watch list smart

any easily.

So, let's start!

CREATING A WATCHLIST Creating a watch list is super easy.

Step 1 is that you need to go to the website finance.yahoo.com (or any other service) and

click on "sign in" to log in to your account.

If you don't have a yahoo account yet, you can create one now by clicking on "create

an account".

You did setup your account or you already had one?

Great, then let's continue.

Login to your account now.

Step 2 is to create your watch list.

Click in the menu on "My Portfolio".

Then, click on "Create Portfolio".

Give it a name and confirm.

And that's already it for step 2.

Step 3 is adding your companies to your portfolio.

To do this, you click on your newly created portfolio.

If it isn't opened already, you'll find it under the menu item "My Portfolio" now.

As you can see this is of course empty now and we need to fill it with companies.

To do this, you just click on "Add Symbol".

If you already know the short code of your company you can type it in.

Otherwise, you just type in the name of your company and chose the stock from the list.

As an example, I take the company Coca Cola.

Its short-code is K-O.

It is immediately added to the portfolio.

Now you can add more companies if you like.

If you want to have more information about the company, you just click on the symbol

and a page opens up with a lot of data that you can use for your analysis.

I'll add a few more examples, just to give you an impression on how this could look like.

They really are just examples and don't have to be great or good companies.

The 5 major items you should remember for managing your watch list

1) Use the watch list to track your actual portfolio.

Some finance sites like Yahoo Finance offer the possibility to put in purchasing prices

and track the progress of your portfolio.

This is a great way to have the status of your real portfolio quickly available, without

the need to login to your real trading account all the time.

This saves time as you have all of your information in one place.

To do this at Yahoo Finance, you go to your portfolio and then click on My Holdings.

Here you see entries from your watchlist now.

Now you click on add lot on the right side of the entry.

Now you can type in at which date you bought how many shares of that stock for which price.

The tool will calculate immediately your performance.

When you want to add another transaction, just click on "add lot . You can also add

selling transactions by typing in negative quantities like for example minus 20 shares.

The tool will calculate immediately the new number of stocks in your portfolio.

'2) Organize your stocks on different watch lists.

There may be many stocks that are more or less interesting to you.

Some of them you will actually own.

Therefore, it makes sense, to setup a little organization structure right away when you

start.

This is not difficult and Yahoo Finance offers the possibility to setup multiple lists.

Create one list with the stocks and securities that you actually own.

See point number 1.

This way you will always have a quick overview about the status of your actual stock portfolio.

Call it however you like, I call it in this example "My Couch Is My Wallstreet".

Another watch list could contain all of the companies that are really great companies

for you.

That's the companies that you have analysed already and where you gained a profound understanding

of their business and just wait for the stock price to meet the level that you want to buy

for.

I call this portfolio for this example "Great companies"

A third watch list could contain all of the ideas that you collected but haven't had the

chance to do a real deep dive analysis yet.

This is of course the list with the most activity in terms of adding and deleting of stocks.

Let's call this portfolio "Ideas & Potentials".

For the advanced investors you might add another watch list for workouts and net-nets.

This structure is of course just an idea and a proposal.

Organize it in the way that works for you.

It is just important that you are able to find your required information quickly and

that you can manage your stocks easily.

If you do it with this or another structure doesn't really matter.

'3) Sort the stocks and securities on your watch list by decreasing relevance.

Put the most important stocks on top.

This way you will be able to get the information that are most important to you much quicker

and don't have to scroll through your whole list.

Yahoo Finance offers a functionality that allows you to just drag and drop the stocks

on a different position.

Don't forget to save it afterwards.

'4) Regularly check if the stocks on your watch list are important to you.

Over time, you'll find further stocks and the watch list might become longer.

The risk will be that it is becoming too long to actually have a good and efficient overview.

When it is overloaded, you will not be able to get the information that you actually need

quickly.

Check from time to time the stocks on your watch list and delete them if necessary or

put the less important stocks that you don't want to completely delete yet on a separate

list.

'5) Use watch lists for paper trading.

Paper trading is a great way to practice investing, without entering the risks of real trading

with its connected potential losses.

This is something that you should consider if you're just beginning with the investing

in stocks.

For this purpose, you can also use the portfolio functionality of yahoo finance, like shown

in item #1.

What paper trading is and how you do this easily, we'll show you in a separate video

that I link here in the corner.

So, now you should have all of the information that you need to get started with your watch

list at Yahoo Finance.

Let me know how the watch list function of Yahoo works for you and drop your comments

and opinions in the comment section below the video.

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