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What is Story Editor and how can it help me?
The concept of Story Editor has been taken from the book: One Up On Wall Street by Peter Lynch.
Stock Stories can greatly help you understand if a company is worth buying by writing down a summary about that particular business. Write down key things about it, what sets it apart from the competition and most importantly write exactly why you want to buy it. Having all this written helps you avoid being biased towards a company by reading the facts - if the story is good then you should buy the stock, if not, then you should try another.
The second advantage of using Stock Stories is that you know from the outset what is the goal of investing in a particular company.
You should set a clear goal before buying the stock. This will help you reduce the stress in case of a market decline.
If the story remains unchanged, or even gets better, then you have chosen wisely, but if the story gets worse - maybe it's the time to unload it.
How to use Story Editor?
Write down facts you know about a company and what you think is important to help you
decide if this company is worth buying.
And if you need your story to have financial facts you do not need to leave the Story Editor to find that information -
you can use Fact Autocomplete to fetch the data you need directly from the database.
All you need to do is to write the piece of data you
need in the special format: {variable} like {market cap} and it will be automatically converted to the number from database.
Take a look at the video below for a better explanation.