Market Trend Signal - does it work?
You could try paper trading it for a few months and see if it works.
My 2 cents
It has many pre-defined trend scanners. And while they do find trending stocks they provide no real indications that the trend will continue. (Use your technicals for that)
The list generated is usually 4 to over 30 stocks per scan (10 pre-defined scans - also can create your own). When a stock shows up on the scanner it has a buy recommendation. Do additional research before buying.
It has a real nice portfolio tracker. I really like it because I have more than one broker account and I can track them all on this one program.
It has a "Stock Analysis" chart that shows if a stock is in a long term trend - short term trend and direction. Also if you have a stock in any portfolio and it breaks the trend your stock will see a "sell' signal. NOTE; it 'appears' to me that it considers the stock is breaking a trend when it closes below the 50 day moving average.
Backtest - This is what I find most interesting. You plug a stock into this and it will show you a complete history of what the stock would have done if you followed every "Buy-Hold-Sell" recommendation that the program would have given on that stock. - It has a lot of stats like Average win size - Average loss size - average days in trend - and many more. I particularly like this because it can give me some indication if the particular stock has a tendancy to trend well.
Great for getting ideas for trending stocks, but by no means strictly rely on this for getting into a trade.
Great bunch of handy tools -
Much of the info it provides you could probably easily figure out on your own. (Like if a stock is in a trend) but this is very handy.
Much of the info that the Backtest provides would be very difficult and time consuming to do on your own.
If you can get in on a 1 yr subscription on one of the specials - it could be worth it.
I do use the program almost daily.
I have shared in the past the one service that ole otter can always count on is better www.betterstockentries.com . I receive no payment for endorsement; but I have always been extremely satisfied and have made good money from their selections.
skyflier said: Just wondering if anyone has any experience with MarketTrendSignal or any other such services, and whether or not they work. Or any other opinions on them.
Remember, this is from a a person who doesn't care about the value of a company and has not idea how to compute one. I also use their daily advice on when to enter the market or when not to.. even on stocks that they don't recommend. So, they pick the picks... and advise you on the general direction or cautions they see in the market place.
Good luck... and always tell them ole otter sent ya from Trade King...
An annual subscription is $1000, not worth it for anyone other than professional fund managers in my opinion..
I simply gauge relative strengths over varying time frames between major indices, especially smallcap/Nasdaq to Dow/S&P, transports to materials and others to locate long/short candidates as well as to gauge over/undersold conditions.