EquityFeed Stock Scanner and Platform Review

What is EquityFeed?

There is a lot of buzz about EquityFeed, especially in the penny stock world, so we decided to review EquityFeed to help new traders see if it is a good fit. EquityFeed is a subscription-based standalone trading and research “Stock Discovery” platform with a ton of tools for traders and investors. One thing to keep in mind, they are not an online brokerage. However, the software can be connected to an existing online brokerage account to execute and manage trades through the platform (currently for Interactive Brokers and TD Ameritrade). It’s best to check if your broker is compatible. The notion of paying extra for a standalone trading platform may seem foreign to many online traders. This was my thinking at first too. Why pay extra for something you can get free through an online broker, right? The answer is simple. If the platform can make you profits with exceptional tools that spot trading opportunities, then it’s something to consider, especially when the profits cover multiples of the monthly subscription fee. The scanners alone make this a worthy platform to consider. I really love the realtime scanning that covers the depth of the whole market based on my filters.

Pricing Options

EquityFeed costs anywhere from $135 to $255 a month depending on which U.S. Exchanges you subscribe to for quote data. There is a U.S. market bundle, which include NYSE, NASDAQ, AMEX and OTC with Level 2 for $220 a month. The best part is the two-week free trial with no credit card needed. It gives you a great opportunity to kick the tires.

EquityFeed Platform Features

EquityFeed is a Java-based platform that can be downloaded and run from anywhere with an internet connection. Since it saves layouts on the cloud, you can access it easily from your laptop or tablet if traveling. Although, you really need more than one screen to truly take advantage of the tools.

Stock Charts

The charts are versatile with many pre-configured indicators (including stochastic, moving averages, pivot points, etc.) and tools to help you interpret the price action. Make sure you have the screen real estate to handle the windows if using multiple time frames. By selecting the Chart Montage, it opens a window with all the necessary tools a trader needs including charts, level1 and 2 prices, time and sales, news and analytics.

Technical Indicators

The platform has all the common technical indicator tools including moving averages, stochastic, pivot points, RSI in addition to Fibonacci tools. It also lets the user draw in trend lines. Just make sure you save the layout.

Level 2 Screens

The level 2 screens provide market depth per price level to give the trader an idea of the liquidity at each price level. It’s important to remember that level 2 sizes may not reflect the actual supply or demand since the goal is to hide transparency to minimize market impact.

Market News

The news feed can be linked to stock symbol(s). I find it very useful that this platform also provides SEC filings. These can generate a material impact on stock prices, especially 10-Qs (quarterly reports), 8-Ks (company events/changes), Form 4s (insider sales), 13-Ds (major stakes). These can make a material impact on stock prices. You can dig deeper into filings with a tool like Filing:re, but EquityFeed provides a great filings alert service.

The news feed can be filtered according to one’s preferences. This is great for news-based momentum traders.

Stock Scanners & Trading Alerts

This is the true gem of the platform. EquityFeed has streaming filter-based scanners which can be used pre and post-market to find gappers as well as intra-day to find stocks hitting new high/lows as well as various time settings up to all-time highs. The Trading Alerts tool has filters and alarms you can set based on volume, price, moving averages, trades and so on. The color coding indicates the type of alert which is extremely helpful as it helps give a real time view of what sectors are seeing money flow increase or fall. Make sure to set your filters at the very least. Scanners provide fresh real time candidates to trade, if you have a solid trading methodology. A trader is like a fireman and the scanner alerts us where the fires are raging. If you don’t have the skills to battle the fire, it’s a quick way to meet your demise. Newbies tend to spread themselves too thin when using a scanner by jumping in headfirst without taking the time to watch and devise a quick game plan. The Personal Alerts window lets you enter in IF THEN filters on specific stocks in one window rather than multiple windows or on charts. This is convenient, quick and easy. Whereas newer scanning tools like Trade Ideas offer an advanced selection of scanners, EquityFeed is great at keeping things simple by providing actionable trading alerts with minimal setup.

Order Entry/Compatible Brokers

You can link an existing online brokerage account to place trades through the platform. Currently, it supports Interactive Brokers, TD Ameritrade, and a few other brokers.

Watch Lists

You can set-up multiple watch lists based on preferred filters. The platform is very stable. The only caveat is to make sure you have enough computer screens to take full advantage of the tools and the many windows you will need open.

Customization and Saved Layouts

Make sure you always save your layouts. It also pays to save your filters so that you can just load the scan windows without having to re-enter the settings each time you open a new window. Every window can be customized from sizing and fonts to calibrating the settings of the filters. This is a very flexible platform.

Platform Differentiators

This platform is very stable and does a great job of filtering through the whole market based on your parameters. The unique color-coding on the Trade Alerts module really helps to literally paint a picture of how the market is faring. The Market View window also provides a screenshot of how the strongest and weakest stocks and ETFs are performing. This is best for seasoned and experienced traders who are familiar with the top stocks in every sector. For example, if WYNN, LVS and MGM are all hitting new highs while M, TGT and WMT are hitting lows; it tells me that the casino sector is strong while retailers are weak. From there, it’s a matter of selecting which stock to play.

What Type of Trader is EquityFeed Best For?

This platform is really tailored for experienced and seasoned traders with a sound trading methodology and the discipline to follow their trading plan and rules. The scanners open up a big valley of trading candidates. It is up to the individual trader’s skillsets to take that information and execute a proper game plan on the trade. It can be too tempting to hop on every idea that pops up and newbies can be guilty of this.

Pros:

• Excellent tool for seasoned traders who have a solid methodology, but need more stocks to trade during the day
• Free two-week trial with no credit card needed
• One of the best and most in-depth real time market scanning tools
• Flexible complete all-in-one trading platform (if linked to online broker)

Cons:

• Can be pricey for newbies
• Can be a resource hog, so make sure you have plenty of RAM

Twitter Buzz

https://twitter.com/FREESTOCKPICK/status/847575830997946368

https://twitter.com/i_like_bb_stock/status/852496057300897792

https://twitter.com/WilliamKaraman/status/844330191992311808

https://twitter.com/jkck8/status/825021375928795137