5 Good Reasons to Use a Watchlist

When it comes to shopping, to-dos and reminders, some of us are list makers and some of us aren't. For investors, however, lists can be a key tool to help put you on the path to success. In this case, of course, we're referring to watchlists.

Watchlists are a simple way to keep an eye on your favourite stocks, exchange-traded funds (ETFs), most over-the-counter (OTC) securities and more — whether they're securities you've already invested in or ones you want to learn more about. Plus, watchlists offer real-time streaming¹ quotes so you can see prices change automatically, tick by tick with the market.

Why use watchlists?

There are many reasons investors use watchlists. Here are five common ones to help you determine if watchlists might be right for you.

1. You have a stock in mind that you'd like to add to your portfolio, but you're hoping it drops in price before you pick it up.
2. You've made a profit on an ETF, but now it's nearing the sell target price you set.
3. You're watching a stock's trading pattern to see if you might buy an option on it.
4. You're watching a stock you own slide in value and you're considering selling it if you decide the volatility is making it too risky for you.
5. You want to feel prepared so you can make well-informed decisions quickly when the time is right for you.

Where can I find real-time streaming watchlists?

If you've already got a watchlist, go to View & Manage Watchlists under My Portfolio or access the page from the blue star widget at the top right of your screen. View & Manage Watchlists is where to go to catch your watchlists stream in real-time (in addition to your Trading Dashboard). At the top of the page, select "Streaming Quotes" to switch streaming on and off.

If you haven't set up a Watchlist yet, we show you how easy it is below.

Easy to build

To get started, head to View & Manage Watchlists under My Portfolio. A simple three-step process makes your custom watchlists easy to set up on the RBC Direct Investing site. You can create up to 40 watchlists with 100 securities on each (yes, that's 4,000 securities!) to ensure you catch the action on what matters to you.

Once set up, your watchlists are easy to find. From anywhere you are on the site, a Watchlist Widget tool (look for the blue star) lets you view price changes for securities in your watchlists and gives you access to your holdings. Click on "refresh quotes" to get the latest prices when using the Watchlist Widget tool.

You can even trade without leaving the page. Expand the widget to view your watchlists and collapse it to resume your activity. Any time you want to add or edit your watchlists, look for the link to View & Manage Watchlists on the widget, or find it under My Portfolio.

While lists for everyday tasks may not be your thing, watchlists can be a valuable tool when it comes to investing.