I would subscribe for the historical data. I think most technical analysis doesnt work. but you can ignore the bad parts and use the good ones like historical data. If the subscription is cheap like 20-30$ a month it can be worth it. If its like 200$ a month i wouldnt touch it. They seem to have a charting program. But I dont know you need other data, so its like ninjatrader or sierrachart???
Their indicator shows up on their charts on their website so it doesn't feed into any package. Might be useful for guys who just have a Fidelity account which has limited charts but is its useful to keep a brokerage there if you have your 401K, employer stock purchase program, etc etc etc there. Yes they have a data tool that seems exportable to excel and whatnot. I don't mess with that but the alerts are useful. I think the most endearing quality is the simplicity of the whole thing. I have think or swim so I have every possible indicator as well as other other proprietary systems to bounce things off of .... disclaimer: I'm not a marketclub pumper !!!! Just looking to solicit views.
Coolio - any updates on Marketclub? I'm thinking of trying it. I'm thinking it is a very good tool for trend and swing traders which is what I am.
So if TA doesn't work, what does? Fundamental Analysis? Fundamental analysis is well and good, however, it doesn't factor in one important variable: Traders. Traders express their beliefs and expectations about the future making prices move...
i have since subscribed to marketclub. I am happy with this tool. The trade triangles and scanning tools help me find opportunities. Trade triangles work great. I use the triangles mainly to identify strength and direction of a trend. Keep in mind like most technical indicators, Marketclub's proprietory trade triangles work great for trending markets, but you will get a lot of false triangles in choppy markets.
Technical analysis is a zero sum game. Fundamental analysis takes money out of corporate profits, and therefore is a better source of income.
"Ultimately, the fundamental analyst could find that a prediction about where prices should be at some point in the future is correct. HOWEVER, in the meantime, price movement could be so volatile that it would be very difficult, if not impossible to stay in a trade in order to realize the objective..." Mark Douglas, Trading in the Zone