I am planning to subscribe for one of the Finviz or StockChart.
Which is best for technical and stock analysing Finviz or StockChart to compliment with p123.
Whether backtest feature is available in FinViz and StockChart.
What is the advantages on each based on real experience with them.
Thanks
Sabarish,
Sabarish,
as far as I know Finviz and StockCharts, these services mostly concentrate on very crude technical analysis.
I have personally used Finviz and skimmed through StockCharts. I thought Finviz was alright, for getting a first glimpse and very rough screening.
If you want to focus soley on technical analysis (which I would not recommend - but to each his own investment style), there seem to be many “cheap” services around.
Technical analyses are much cheaper to offer as a service as they focus mostly on historical prices (opposed to fundamental data or analyst opinions etc.)
If, however, you are looking for higher quality, all-around service exceeding technical analysis and currently do not work in investment banking or have your private Bloomberg account, P123 can be strongly recommended. As you are already a member, I would devote your free time mostly with P123 before thinking of getting additional services. I would guess that there is very little (if any) that Finviz or StockCharts could do that P123 cannot. That said, and I am not paid for advertising P123, it might even make more sense to upgrade your membership level to whatever services you need and save your money signing up for Finviz or StockCharts.
Long story short:
If you are unsure of what’s possible regarding technical analysis with P123, check out the technical R2Gs (> Taxonomy tab > Technical) and the “open source” portfolios provided by P123.
Best,
fips
Hi,
I would highly reccomend a program called QuantShare.
Its an excellent technical program,and can utilise fundamental data as well…
One of the things that Quantshare had which I really thought was great was a plug in for P123…If you were a suscriber to P123,you could simply download fundamental factors and ranking systems to QuantShare and run technical simulations,money management and position sizing algos on P123 fundamentals.It was very powerful,but I am not sure it is still supported.
Best,
Allan
I would like to have a look at top 10% bucket of p123 ranked stocks for last 3 years in multi-stocks charts (10,20) in 1 screen every week few times.
Whether it is possible with p123 ? or what is the best and economy tool to full-fill the need without typing each symbol manually every time.
There is any paper trading tools ? to practice quant strategy performance. Finviz has free watch list.
Thanks
Sabarish
I have been using StockCharts for years and have found it very helpful in comparing stocks. You can save a list of stocks and only type in the ones that change weekly. The free charts will do what you want to do.
There is any video link or link to pdf document to explore the features and usability of StockCharts.com ?
Thanks
Sabarish
Hi Sabarish,
There are many naysayers about technical analysis (TA), but I find it is usually because those people simply don’t have enough experience with it. It does take time and effort to learn TA, and most individuals with training in fundamental analysis are not interested in learning a whole new discipline. I know, because I was there myself. In my opinion, you are on the right track in seeking to learn technical analysis (TA) and find a site that can provide it as a supplement to P123.
In 2004, I launched my site, IntelligentValue.com, devoted to value investing using quantitative analysis enabled by P123. I had spent the prior 20 years of my career valuing equities and private companies based on fundamental analysis. I was able to get what I (and many others) thought were excellent returns from P123; as much as 50% per year. I had no interest in learning technical analysis, and like many value investors, considered it akin to astrology.
However, when I saw that a couple of run-of-the-mill downturns made large groups of my subscribers bail out at the worst time, I spoke about it to some of my associates whose opinions I value highly. When I was counseled to learn technical analysis, that it works, I decided to take it seriously and I committed myself to learning the discipline. I wanted to see if I could prevent some of those drawdowns that were frightening my subscribers out of the stock market.
Back in 2004, Denny Halwes recommended that I try StockCharts. Right off the bat I was able to avoid the worst drawdowns using some basic TA signals. Then I was fortunate to strike up a relationship with John Gray, who heads up InvestorsIntelligence.com. I learned a wealth of information from him in a short time. As I discovered and applied more TA techniques, I was able to hone my approach. I have been able to triple the average annual returns of the IntelligentValue.com model portfolios (110% and 185% AR) over what I was doing before using technical analysis.
HOW TECHNICAL ANALYSIS HELPED ME
I consider technical analysis to be an adjunct to fundamental analysis. In other words, fundamental analysis (with P123) drives my stock returns while TA enhances them.
Technical analysis, when applied correctly, can help you identify the optimum entry and exit points for stocks you have uncovered with fundamental analysis. I have also been able to identify and use significant changes in market direction, i.e., ‘market timing’ to enhance returns I use TA to identify market risk, which I use to identify times to place stops or move to cash, helping to avoiding return-destroying downturns, while also identifying when the market is going to turn higher after a selloff, thereby turbo-charging returns of the undervalued stocks in my portfolios.
Back in late 2007, I purchased inverse ETF positions when everyone else was floundering, not sure what to do. Being able to see when the market is going to sell-off and get into short positions before the inevitable big drop is a very profitable experience. In the long 2008/2009 crash, when the market was losing 50%, TA enabled me to make a sizable profit, beating the market by a handy 129%. (Anyone who says that “you cannot time the market" really means that they cannot time the market.)
Technical analysis also signaled precisely when I should go ‘all in’ with portfolios full of undervalued stocks on March 9, 2009. It also told me to stay in the market even when it would have been easy to be scared out of stocks at every whisper of trouble following the catastrophe that had preceded. By staying fully invested when many were calling for another Great Depression every week, my results were phenomenal. If I had been investing as I had before, trying to establish levels of exposure based on my interpretation of all the chaotic information at that time, I would have made little or no return that year. Instead, I ignored all the noise and by using technical analysis and buying when others were fearful, my returns were at 1000% for both my portfolios through the end of 2009. I have never had a losing year and beat the market by big margins every year, thanks mainly to the application of technical analysis methodology.
RECOMMENDATIONS
FinViz is great for giving you a quick look at the chart and fundamentals of a company, and that’s the first site I look at when I have a new stock recommended in a P123 rebalance. However, I’ve had the paid FinViz subscription, and it does not hold a candle to the technical analysis that’s available at StockCharts.com. A basic subscription to StockCharts is $14.95, while a subscription (for a whole lot less site) is $39.95 at FinViz. If you go to the StockCharts home page, you can click the links at the top of the page to see the Free Charts section, the Chart School section, etc. There are also links down the right side of the page. Videos are at [url=http://stockcharts.com/videos/]http://stockcharts.com/videos/[/url] . There’s enough free content to give you a good sampling and keep you busy for a few days. StockCharts also has a free 10-day trial. (By the way, I have no vested interest in StockCharts.)
In response to one of your specific questions, as a StockCharts member, you can see 10 charts per page of stocks/indices in your predefined chartists. That’s how I review the technical aspects of my portfolio stocks each week. I have the technical indicators that I use already laid out in the charts along with my annotations of each chart. It’s easy to get a quick scan to see if any positions show an oscillator at an inflection point, have sagging momentum, have reached a caution or stop level, etc. There are many basic TA criteria you can apply in your P123 systems, but IMHO, technical analysis is primarily a visual tool.
THE TWO WORKING TOGETHER
As great as P123 is, the technical analysis component is rudimentary. Don’t get me wrong; I don’t think P123 needs to change anything, and as a business model I certainly don’t think Marco needs to become focussed on technical analysis at P123. It would be impossible to integrate the capabilities of a mature, fully developed technical site like StockCharts into P123, and the level of complexity at P123 would increase exponentially.
However, the two can complement each other. For example, as a member, you can run a screen in StockCharts of companies that meet your favorite technical combinations; perhaps a price rise above its 100-day moving average with a CCI that has broken above the 0 level. Take this list over to P123 and check to see how each company ranks based on your best valuation system and you have the makings of a new portfolio or watch list. Alternatively, go vice-versa, P123 fundamental selections fed into StockCharts technical rankings.
In fact, for members, StockCharts has a proprietary technical ranking system that they call (obviously) the Stock Charts Technical Rank or SCTR. It is a numerical rating of cumulative technical aspects of a stock or index. I have not tried this, but that one technical component might be a simple way to get a quick and dirty technical rating on your best fundamental stock picks from P123. The options are unlimited on how you can combine these two outstanding services. The mind nearly boggles at the possibilities…
Hit me up if you have specific questions. Good luck!
Christopher Michaels,
Thank you for sharing your 10+ years hands-on experience with p123, stockcharts.com and finviz.com and well detailed product review on each.
It helps a lot.
Thanks
Sabarish
A lot more expensive, but I have used TC2000 for many years and recommend it.
Season greetings to everyone.
Larry
Since the interest in using a chart analysis tool is revolving around the real interest in using Technical Analysis, the trouble I have with TA is the seeming lack of long term, public success stories for any that use it. Bogle is the successfully wealthy advocate of buy and hold, Buffett is the advocate of fundamentals/value but I don’t hear of anyone who has been successful with using TA, even as an adjunct method, over many business cycles. I can understand its use, somewhat, to profit from the emotional aspects of Mr Market, but from what I have read on the subject, it looks like a very, very heuristic method. As a market timing aid, I think it could give a lot of false signals, leading to under performance from whipsaws. I would love to hear of well known, wealthy, public users who have been successful with it over a long (40-50) period of time. I have not seen or read of any (who at least talk about it publicly).
I like both http://stockcharts.com and http://chartmill.com . Chartmill is is unique in that it supports anchored VWAP. I like to pretend that AVWAP is useful for picking stock low points.
The core/engine of managed future funds is trend following/technical analysis. Their dismal record in aggregate over the last few years should provide some perspective on how challenging this method of investing can be. However if there are others that have a validated out of sample record who are more successful in this pursuit then I, like David, would like to hear about them.
Scott
