InformedTrades - View Single Post - Marketclub Review and Trading Diary by David Waring

David Waring · 10-09-2008, 10:23 AM

MarketClub Review and Trading Diary

Free Marketclub Trend Analysis
Enter any ticker symbol you would like and have it analyzed daily by Marketclub's Trade Triangle Technology free of charge.

Sign Up For Marketclub Full Access
Get access to the trade triangles and smartscan score for all 230,000 symbols they cover for $150 a quarter. Cancel within 30 days and you will not be charged.

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I am pleased to introduce my new Marketclub Trading Diary, where I am going to be outlining a method for trading the stock, futures, and forex markets, and keeping a trading diary of the trades I generate using the Marketclub alanlytics software. I am interested in the marketclub software because it is meant to help traders determine the trend in the market and allows people who would prefer to add some discretion to the signals the ability to do so. In today's video we will go over the instructions for using the marketclub software so we can begin placing some trades using the signals it produces.

Ok so I have my Marketclub login and have gone through the main tutorials on the site to learn how to use the product. There are lots of features including realtime market news and charts with all the standard indicators and timeframes. The main part of the software which is designed to help me identify and trade these trends, is the "Trade Triangles" section of the platform which I have included a screenshot of here. You can see here a few of the over 230,000 stocks, indexes, forex, and futures instruments that the software analyzes.

From this page you can click to bring up a chart of the instrument, which you can then place your indicators and trendlines on. Once you have done this, you can also click to place the Marketclub trade triangles on the chart, which are designed to show you where the trend is and potential points for entering and exiting the market.

So, what exactly are are Trade Triangles?

The Trade Triangles are signals produced by triggers of Marketclub's proprietary algorithm. These red and green triangles signify changes in trend on a quarterly, monthly, weekly and daily levels.

Green triangles suggest positive trend
Red triangles suggest negative trends.

The Trade Triangle algorithm is comprised of weighted factors that include, but are not limited to price change, percentage change, moving averages, and new highs/lows.

The Trade Triangle algorithm is not intended to catch tops and bottoms, but instead identify the majority of a swing trend. MarketClub suggests a filtering approach when following the trade triangle signals so the first thing it is important to understand here is that the triangles by themselves are simply meant to identify the trend, and are not designed to be used as stand alone trade signals. In order to try and avoid triangles that occur in rangebound conditions, they offer filtering techniques depending on the market that you are trading which are the following:

When Trading Equities:

Monthly Triangles determine trend and possible entry points.
Weekly Triangles determine timing : exits, entries and re-entries.

The last triangle issued on the monthly chart should always be used to identify the overall trend. You can also use the monthly triangle as a potential entry point if you can get into the market within the last 3 trading days of the signal. Then you are to look at the weekly triangles for possibly exit and reentry points, or entry points if your monthly is in a steady trend.

When Trading Futures & Forex

Weekly Triangles determine trend and possible entry points.
Daily Triangles determine timing : exits, entries and re-entries.

The last triangle issued on the weekly chart should always be used to identify the overall trend. You can also use the weekly triangle as a potential entry point if you can get into the market within the last 3 trading days of the signal. Then you are to look at the daily triangles for possibly exit and reentry points, or entry points if your weekly is in a steady trend.

In addition to the trade triangles, each of the over 230,000 instruments that Marketclub analyzes comes with a chart analysis score, called the Smartscan Score. This score ranges from +100 (strong uptrend) to -100 (strong downtrend). In addition to the score the package also gives me access to see the components which make up the score which looks like what you see on your screen.

As a part of the trade filtering process for intermediate term traders such as myself, the site recommends focusing on the 4th and 5th "go lights". If both are green, then this suggests that the market favors the upside, and if both are red then this suggests that the market favors the downside. As this combined with the triangle analysis technique outlined in my last post is the filtering technique recommended by the site, this is what I will start with to pick out trades.

One last thing that it is important to point out here is that while the software gives you the entry and exit signals it does not provide stoploss levels or position sizing guidelines. For position sizing I am going to follow the % Risk Method and set my maximum risk to 2% per trade.

For my stoploss I will base this initially on my reading of support and resistance levels in the market. Initially I will use only a hard stop and then rely on Marketclub's exit signals to get me out of the trade if my stop is not hit. As I learn more about how the system performs in the market I will most likely add in a trailing stop as well.

Ok so that should be pretty much everything that we need to get started analyzing some trades which we will do in my next video, so I hope to see you then. For those of you who would like to try out some of the features of Marketclub free of charge, I have included links below this video where you can do so.

As always if there are any questions or comments please leave them in the comments section below, and good luck with your trading!

Links to MarketClub Review

MarketClub Reviews and Testimonials from INO.com
Market Club - A Review of MarketClub

10-09-2008, 10:23 AM	#1 (permalink)
David Waring InformedTrades Founder Community Host Badges About Assets Total Awards: 4 Join Date: Nov 2007 Location: Miami, FL Posts: 5,633 InformedPoints: 0.13	Marketclub Review and Trading Diary by David Waring MarketClub Review and Trading Diary Free Marketclub Trend Analysis Enter any ticker symbol you would like and have it analyzed daily by Marketclub's Trade Triangle Technology free of charge. Sign Up For Marketclub Full Access Get access to the trade triangles and smartscan score for all 230,000 symbols they cover for $150 a quarter. Cancel within 30 days and you will not be charged. * I am pleased to introduce my new Marketclub Trading Diary, where I am going to be outlining a method for trading the stock, futures, and forex markets, and keeping a trading diary of the trades I generate using the Marketclub alanlytics software. I am interested in the marketclub software because it is meant to help traders determine the trend in the market and allows people who would prefer to add some discretion to the signals the ability to do so. In today's video we will go over the instructions for using the marketclub software so we can begin placing some trades using the signals it produces. Ok so I have my Marketclub login and have gone through the main tutorials on the site to learn how to use the product. There are lots of features including realtime market news and charts with all the standard indicators and timeframes. The main part of the software which is designed to help me identify and trade these trends, is the "Trade Triangles" section of the platform which I have included a screenshot of here. You can see here a few of the over 230,000 stocks, indexes, forex, and futures instruments that the software analyzes. From this page you can click to bring up a chart of the instrument, which you can then place your indicators and trendlines on. Once you have done this, you can also click to place the Marketclub trade triangles on the chart, which are designed to show you where the trend is and potential points for entering and exiting the market. So, what exactly are are Trade Triangles? The Trade Triangles are signals produced by triggers of Marketclub's proprietary algorithm. These red and green triangles signify changes in trend on a quarterly, monthly, weekly and daily levels. Green triangles suggest positive trend Red triangles suggest negative trends. The Trade Triangle algorithm is comprised of weighted factors that include, but are not limited to price change, percentage change, moving averages, and new highs/lows. The Trade Triangle algorithm is not intended to catch tops and bottoms, but instead identify the majority of a swing trend. MarketClub suggests a filtering approach when following the trade triangle signals so the first thing it is important to understand here is that the triangles by themselves are simply meant to identify the trend, and are not designed to be used as stand alone trade signals. In order to try and avoid triangles that occur in rangebound conditions, they offer filtering techniques depending on the market that you are trading which are the following: When Trading Equities: Monthly Triangles determine trend and possible entry points. Weekly Triangles determine timing : exits, entries and re-entries. The last triangle issued on the monthly chart should always be used to identify the overall trend. You can also use the monthly triangle as a potential entry point if you can get into the market within the last 3 trading days of the signal. Then you are to look at the weekly triangles for possibly exit and reentry points, or entry points if your monthly is in a steady trend. When Trading Futures & Forex Weekly Triangles determine trend and possible entry points. Daily Triangles determine timing : exits, entries and re-entries. The last triangle issued on the weekly chart should always be used to identify the overall trend. You can also use the weekly triangle as a potential entry point if you can get into the market within the last 3 trading days of the signal. Then you are to look at the daily triangles for possibly exit and reentry points, or entry points if your weekly is in a steady trend. In addition to the trade triangles, each of the over 230,000 instruments that Marketclub analyzes comes with a chart analysis score, called the Smartscan Score. This score ranges from +100 (strong uptrend) to -100 (strong downtrend). In addition to the score the package also gives me access to see the components which make up the score which looks like what you see on your screen. As a part of the trade filtering process for intermediate term traders such as myself, the site recommends focusing on the 4th and 5th "go lights". If both are green, then this suggests that the market favors the upside, and if both are red then this suggests that the market favors the downside. As this combined with the triangle analysis technique outlined in my last post is the filtering technique recommended by the site, this is what I will start with to pick out trades. One last thing that it is important to point out here is that while the software gives you the entry and exit signals it does not provide stoploss levels or position sizing guidelines. For position sizing I am going to follow the % Risk Method and set my maximum risk to 2% per trade. For my stoploss I will base this initially on my reading of support and resistance levels in the market. Initially I will use only a hard stop and then rely on Marketclub's exit signals to get me out of the trade if my stop is not hit. As I learn more about how the system performs in the market I will most likely add in a trailing stop as well. Ok so that should be pretty much everything that we need to get started analyzing some trades which we will do in my next video, so I hope to see you then. For those of you who would like to try out some of the features of Marketclub free of charge, I have included links below this video where you can do so. As always if there are any questions or comments please leave them in the comments section below, and good luck with your trading! Links to MarketClub Review** MarketClub Reviews and Testimonials from INO.com Market Club - A Review of MarketClub __________________ My Free Courses: Forex Course - Stock Course - Futures Course - Basics of Trading - Subprime Crisis - Prorealtime Charts Disclaimer: Trading is risky and can result in substantial financial loss. As always my posts are simply one traders opinion and should not be taken as trading advice. I am not a financial adviser so everyone please do their own analysis and take responsibility for their own trades. Last edited by Simit Patel; 02-17-2010 at 03:35 PM.