- Editor Rating
- Rated 4 stars
- INO: Marketclub
- Reviewed by:
- Published on:
- Last modified:
- ValueEditor: 85%
- QualityEditor: 80%
After using the MarketClub for the trial period (extendable 13 days for $8.95), we’ve noticed there is a slight learning curve to get a grasp of all the functions. Also, it is best suited for position traders and swing traders due to its momentum and trend following tilt. Additionally, it is best to have a trading strategy already in place before signing up for MarketClub because the educational section is somewhat limited and the videos/blogs doesn’t provide actionable trading ideas. It is definitely a one-stop shop for all your trading needs, however, members who look for only trading and not the proprietary videos/blogs can find some free alternatives on the web.
MarketClub is a browser based trading platform; the platform offers a two week free trial followed by monthly membership of $59/month, quarterly membership of $150/quarter, and annual membership of $449/year. Signing up for the free trial is smooth and easy but understanding all the different features is a different story. After a thorough testing of this website over a two-week period, this site targets position and swing traders. Ideally, the features of this site aim to help members identify profit opportunities by following stocks in strong trends using technical analysis.
Free NewsletterINO has a free newsletter that they send out daily with both analysis and commentary.
Position and Swing Traders.
This website is best suited for position/swing traders. The technical tools and trend analysis we will review later will have little usability for shorter term investors. One of the primary focus of this website is to identify trends and to measure trends using daily, weekly, and monthly indicators. All of which are much too long term for intra-day traders. Therefore, traders interested in real investing should steer clear.
The home page highlights key events for the day which is helpful to prepare for macroeconomic news.
Above the calendar is a section with links to the latest blogs as well as quick links to best-performing assets of the day.
Another very helpful section of the page is the Featured Analysis section to the right. Not only does this part expose members to different stocks, but it also gives a very quick analysis of the stock’s technical strength.
Lastly, just below the Featured Analysis section has recent videos. Again, this is a good way to expose members to new stocks. The home page has plenty of information to get traders ready for the trading day and has recaps. The primary advantage of this home page is ease of access to daily news, featured stock, and video recap. This page is mainly to stay on top of recent developments and expose members to new information and opportunities.
MarketClub has its naming conventions, and the ribbon below shows the various features available to subscribers. Portfolio, Trade Triangles, Smart Scan, Alerts, Data Central, Trade School, Blog, and Help.
To start, we are covering the Portfolio tab which lets members customize the list of stocks. As you can see below, members can add as many portfolios and as many holdings in the portfolios as they want. Members can also customize the names of the portfolio like the image below.
For the tickers in the portfolio, you can double click on the names and it will take you to an interactive chart. Trade Triangles is an easy way to scan the market it has information on volume, up/down trend strength, daily/weekly/monthly price performance; furthermore, you can also specify the look back time. Another benefit to having portfolios set up is the ease of access to dynamic charts. Double clicking on position will take members to dynamic graphs that allow them to dive deeper on technical developments.
Trade Triangles Tab
Trade Triangle page gives members a way to scan for stocks using MarketClub’s proprietary Triangle indicator. Each triangle represents daily, weekly and monthly price performance. Also, MarketClub assigns Scores to each stock and stocks on the list can be ranked by scores to identify the strongest trends. The benefit of having this Trade Triangle page is it will produce a list of stocks for further due diligence. How useful this can be without an actual trading strategy is still unknown. Additional scanning functions are shown below, and these scans are delayed by 15-minutes when the market is open.
Smart Scan Tab
Smart Scan tab can be useful to find stocks that meet specific criteria that fit your trading strategy. You can also specify what price, volume, and exchange (US, Canadian, Australian). To scan the charts are easy as well because it pulls up multiple charts for technical traders to easily scan chart formations. The charts go back to January of the year.
There are also additional Scan Filters to be applied to securities that fit the scanner above. The filters are as follows:
Having other filters can narrow down the scan to provide securities that match each member’s investment universe.
The notification tab allows you to set alerts on your portfolio, Dow Jones Index, S&P 500, Gold, and Dollar. The alerts are sent to you registered email and can create an alerts list as often as you like: once a day, once a week, or just once.
The emails look like this for alerts:
Data Central Tab
Data central tab allows you to download High, Low, Open, Close, and Volume into a spreadsheet format. These spreadsheets are useful for backtesting or charting strategies on Excel Spreadsheets. What’s unique about this tab is it gives you the flexibility to download data for 1-minute, 15-minutes, hour, and daily which is not commonly available on free websites like Yahoo! Finance.
Trade School Tab
Trade school is useful in many ways. First, it allows members to learn the website and its various functions. Second, it offers members video recaps on a daily basis. Lastly, it teaches members many different ways of analyzing the markets via workshops. There are some of the educational links for navigating MarketClub:
In my opinion, this section is very beginner friendly which is different from other parts of the website that requires members to have a trading strategy already to take full advantage.
The blog tab contains links to articles that cover the market. The blog is similar to the MarketClub Latest Updates section but is more detailed.
Typing a symbol on the top view bar will pull up a short overview of the stock. It also shows trend strength.
This brief overview is useful but for a deeper dive click into the chart that is below the mini chart takes you to a dynamic charting software.
The powerful charting software comes with the line chart, volume, MACD, and RSI as defaults.
Without adding other technical tools, you can zoom in and out for different time frames. For the technically inclined you can switch the chart to candlestick or OHLC. You can also add Trendlines or Fibonacci Retracements here. The Trendlines are permanent on the graph which can be cumbersome, but the Fibonacci Retracements are easy to add and remove. In fact, Trendlines don’t even move with the zooming and is just a static dark line on the screen. Very hard to be of real use.
Simple Moving Average
You can add three moving averages with periods from 1 to 200
Exponential Moving Average
You can add three moving averages with intervals from 1 to 200
You can pick different moving averages (1-100) to anchor your Bollinger Band analysis, from there you can determine standard deviations above and below the Bollinger Band.
Parabolic Stop & Reverse
You can set acceleration and max acceleration ranging from 0-0.08 and 0-0.9. Acceleration limits can help investors place stops on the trade.
The deviation can measure the dispersion of prices and its ranges.
Linear Regression Channel
You can select between 2 and 50 data points to determinate future price action. Projected price action gives you a line that “best fits” the price action.
Donchian channels plot the highest high and the lowest lower of “n” periods. Channels can help you enter and exit positions and is used in Trend Following strategies.
Aside from these functions, there is another set of technical tools that can be plotted underneath the price chart.
Here you can also set a moving average for the volume bars; moving average can range from 1 to 180 bars.
You set the open interest for options, the moving averages for each open interest bar can be set for 1 to 180 days.
Rate of Change
Change rate is the difference between the current price and the price of the default period you selected. Change is a display of overbought or oversold conditions.
Williams %R is an adaptation of stochastics. Stochastics also measure overbought and oversold conditions. You can choose between a range of 2 and 100 periods.
You can adjust terms for %K (2-50), %D (1-20), and slow %D (1-20).
You can change periods for %K (2-50) and %D (1-20).
This come as a default to charting but you can adjust the fast and slow periods as well.
Default occurs at 14, but you can adjust from 2 to 50.
The momentum oscillator is, used to determine trend direction.
This study takes the current price, the moving average for the price, and the deviation between to plot a line under the chart. You can adjust the moving average between 2 and 50.
This study takes the absolute value of highs and lows for a given amount of periods and plots them on a line under the chart. The default for this study is 14 stages, but you can adjust between 2 and 50.
This indicator can determine trend strength. The higher the reading, the stronger the trend is and you can adjust periods from 2 to 50.
On-balance volume is a momentum detecting indicator that measures the positive/negative flow of volume. An upwards sloping OBV line can suggest an uptrend, while a downward sloping OBV line can suggest a downtrend. There are no adjustments for this indicator.
INO Marketclub Review
Summary: After using the MarketClub for the trial period (extendable 13 days for $8.95), we’ve noticed there is a slight learning curve to get a grasp of all the functions. Also, it is best suited for position traders and swing traders due to its momentum and trend following tilt. Additionally, it is best to have a trading strategy already in place before signing up for MarketClub because the educational section is somewhat limited and the videos/blogs doesn’t provide actionable trading ideas. It is definitely a one-stop shop for all your trading needs, however, members who look for only trading and not the proprietary videos/blogs can find some free alternatives on the web.