Trading tools and websites I use
TradeMiner PRO Review
One very interesting tool I bought and use is the TradeMiner PRO. You can buy it for stocks, commodities and FOREX. I mostly use it for stocks. What they do is look at historical EOD prices and calculate “If you have traded XYZ on this day during the past 10 years you would have been profitable XX % of the time if you held the stock for X days.”
I have done some back-testing and live trading and it works pretty well. As with ALL TOOLS I still believe in the “art of trading”. However, if you spend the time using one or several tools – add all the info together and make the trading decision.
You also need to understand that TradeMiner is NOT a trading system. It is a research tool. And a clever one at that.
Here is how I use it on a list of ETFs to pick a short list of possible high-probability trades I can further research and decide on:
- Month of March – 10 year analysis.
- Having won >80% of the time
- 1-5 Trading days (Short is better for ETFs)
- Risk/Reward Ratio >2 is desired
- Score in the green > 3.00
The subscription fee is $194 a year for all three feeds (STOCKS, COMMODITIES and FOREX). If a trader selects only one of the three feeds, the fee will be $97 a year. Once the fee is paid, historical data for the feeds become available for the subscriber. This software enables you to scan the past 30 years of the market to find the most profitable trends and assets according to their minimum and maximum quotations. This information can assist you in making an informed trading decision.
