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Here's great news from a member...
"With the Trade Triangles, I simply use the weekly and monthly alerts to adjust my positions. My mistakes in the past were generally of two types.....not riding the trend long enough or failing to exit when the trend changed. The rest of it is market noise.
The triangles provide clear and concise signals. I used the INO service for the trial period, and was about to cancel, when I realized that it had paid for itself several times over.
How I use the service: I loaded 10 currency pairs, 30 mutual funds, and about 100 large cap stocks, into the portfolio, and follow the weekly and monthly signals. If a stock gets a red weekly or a "sidelines score," it gets sold and replaced with a green weekly.
You can explain this system with a crayon, it captures the bulk of the move, and allows me to pay more attention to my gardening and golf." ~ Ian G., Canada
To send your own success story, please email bl**@in*.com. We wish all of our members the best and we look forward to hearing your success story.
Hi JLT,
Thanks for sharing how you use Marketclub.Thanks also for the links on the chart patterns.
I agree that Marketclub is an very good tool but there are multiple ways to use it and for legal or whatever reason, everybody has to be figure out on their own what works for them and what does not.
I wish there was a forum where the different club members could share their thoughts on how they use Market club.
Trikaal
The SmartScan tool doesn't allow for a +70 scan, but using the trade triangle technology anything from a +100 to a -100 is listed when you search for daily triangles(three days back by default). So I am not using SmartScan, but rather the trade triangle daily scan. The button for this scan can be found on the home page. Also, I recognize too that you can scan for 'new +75 chart analysis' on the recent trade triangles page, but I do not use this approach.
My research tells me that optimal formations will be found when looking at daily +70 triangles where only the monthly is still red. Stocks in this category tend to be forming rounded bottoms or even rounded double-bottoms, and this type of chart pattern has a high success rate-much higher, for example, than a cup-and-handle formation, or if you like, 'half-a-cup-and-handle' formation, which I often see when looking at instruments whose score is +85 or higher.
It's important, I think, to try and tie the score to a classic geometric formation, and decide based on that if placing a bet is worth it. I would like to see the folks at MarketClub do more to tie the scores they generate for the many instruments that are reported to classic chart patterns. Those that can't be tied to such a pattern should be filtered out in my view. You can learn more about classic patterns by going to thepatternsite.com or recognia.com. Both are good if you want to broaden your knowledge here.
So once I see these instruments listed (+70 daily triangles, all 4 triangles green, only the monthly is still red)I will graph each over 3 months to get a feel for the MACD, slow stoch and 20 day moving average. If these 3 indicators are favorable--and you personally have to decide what favorable means--I may place a bet on the stock or ETF.
I have not tried a -85 TT, which would place the stock in a short-term, countervailing trend. I see these as too risky, but everyone is different.
The folks at MarketClub will not tell you where to begin your search--do I use a +100 daily, a +75 weekly, etc. There are liability issues at stake here, as I understand it, and so it becomes difficult for us to know where to start once a scan produces sometimes hundreds if not over a thousand choices. This is a shortcoming which needs to be addressed, in my view.
So I hope they do more in the future to optimize these searches and narrow down the picks to just a handful per scan. I think it would help us all and would make the tool more artificially intelligent, which is the direction I think they should be going in.
Hi JLT,
Thanks for sharing how you use the trade triangles.
You mention it is better for short term trading specially with +70 TT which are poised to go higher. Market club defines +70 as "+70 : This market remains in the confines of a longer-term uptrend.".
The Scan tool does not let you scan for anything below +75. How do you identify trades which are at +70 now but likely to go to +85 or higher.
Just the MACD (witha bullish crossover?) and 20MA and slow stoch?
Have you tried trading -85 TT which are defined as "A downtrend is in place. Intraday, intermediate and long-term trends are pointing in a negative direction, while the short-term trend is in an upward direction."
Thanks,
Trikaal
You say you were about to cancel your subscription 'when you realized it had paid for itself several times over'. That sounds a little fuzzy to me--usually you cancel your subscription to something because it doesn't work or you keep your subscription because it definitely is working. I think we would need to see your trading records to find out how well indeed you have been doing, and the methods you employ.
Personally I like the MarketClub tools but any back-testing I have done with equities or ETFs shows that you will have losing trades--perhaps more losing trades than winning trades. But you will, on balance, make more on the winning trades than you will lose on the losing trades--much more in some cases. So if you are patient, the triangles will eventually come through for you. I don't know how many of us are really that patient, though.
I do think MarketClub can be an excellent short-term tool. For example, if I search for daily +70 green triangles where the weekly green signal has already registered (so the stock now has had time to pull back off the three-week high, if it does, and is beginning another ascent), more often than not I notice the stock does indeed move up again over the next few days or even weeks. The move up can be substantial.
Example: Study ONXX. On June 10th the weekly green arrived, and after that a mild pull-back (or sideways action)leading to a daily green on June 19th (this is the +70 daily trigger now.) The stock was $25.91 at the time, and by July 22nd was over $36. A very nice profit in a short period of time.
This is the sort of set-up I would look for if I was trying to make money--a +70 daily where all but the monthly triangle are green and the weekly green triangle precedes the daily green. I also want to see a favorable MACD, a favorable slow stoch and a rising 20 day moving average. If so, I think it's worth betting on, as was the case with ONXX, and several other equities I have studied with the MarketClub tools.
Hello Ian,
Glad to hear you have found success with Market club.
You make good point on staying with the trend. How do you set
stop losses because even though the over all long term trend could
be still up, one can get stopped out if the stops are too tight.
The various trades you mention above, did you paper trade these
positions?
Thanks in advance for sharing your thoughts.
Regards,
Trikaal
Thanks for sharing. Just started trial membership with Market Club. Obviously I have been wondering if this trade triangle stuff works or is this just clever marketing. I am exited to here you are having success. This gives me some confidence to put these signals to use and see how it goes. Further input would be great, including are there other signals that seem to augment the triangles such as MACD, RSI, stochastics,etc. Also do these tend to work better in certain markets ie equities, ETF's, currencies, futures, etc. Any input is greatly appreciated.
Thanks,
Larrry
Sounds Great! Is there an audited trading account available to support these claims?
Red daily signals usually precede red weeklies. Do you not use daily signals for exit?