Orlando teen designs app to help everyone make money on Wall Street
Updated On: Aug 02 2014 12:20:53 AM EDT
Making money on the stock market just got a little bit easier thanks to 17-year-old Daniel Cajijas.
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The Orlando teen has developed an app that follows up to 20 U.S. stocks of your choice and alerts you when it is time to buy, sell or hold.
He calls it "iStockAlerts," a system Cajijas described as “a step in the right direction towards automated and algorithmic trading.”
The system uses nine technical indicators all with definitions attached to help any investor understand the key to a stock position.
“The great thing about this app is that it gives you notifications," Cajijas said. “When recommendations change you can maximize profits.”
Instead of charging individual investors for the app he is hoping to get advertising dollars from brokerage firms -- that’s right, this investment service is absolutely free.
Cajijas, has already been accepted to the Wharton Business School and his app was part of his college application.
Cajijas is quick to point out there are no guarantees with the system.
“It’s obviously not an absolute key. If it were an absolute key, we would be doing this (interview) in my mansion," Cajijas said.
But you can make money?
He says he used iStockAlerts to guide his own investment decisions.
His big winner was Tesla Motors (NASDAQ:TSLA) making double-digit percentage gains he says he will detail in an upcoming paper with co-inventor Ira Engleman.
iStockAlerts is already available in the Apple iPhone store and will soon be expanded for use on Android, OIS and desktop computers in a new system he calls iStockAlerts “Elite."
He said his investment strategy is based on companies that are innovative.
What stocks should you choose? Cajijas likes Google, Yahoo, McDonald's and Tesla.
Cajijas points out that any investor should consider “stocks you like and are interested in.”