I primarily used yahoo for tracking individual stocks in my IRA and taxable portfolios. I found it much easier to record trades on Yahoo finance rather than constantly logging into my broker’s website. I could easily keep track of daily and total gains/losses and also view relevant news stories. Finviz has similar functionality available for free.
Finviz Elite costs $300/year (or you can try it with a month to month plan for $40/month). It’s really a nobrainer for anyone who manages a portfolio over $100,000. If you hired a manager, it would cost about 1%-2% per year in fees. If you are managing your own portfolio, it’s perfectly reasonable to allocate something like 0.5% for tools to help you identify and track your investments. You will be able to write these costs off as a tax deductible investment expense.
Finviz Elite Features
If you like technical analysis, you’ll love the finviz elite backtest tool. It allows you to test the historical results of specific strategies that have quantifiable entry and exit points.
For instance, here’s a simple trading strategy based on the money flow index (MFI):
Finviz elite allows you to test this strategy against historical data (back to 1996) and with realistic assumptions (trading costs).
Here’s the results:
First the chart. It compares the return from the above strategy to a buy and hold SPY strategy. You can see that the MFI trading strategy had a much better return.
Next the detailed statistics for the strategy. Here, the strategy is compared to both the market weighted SPY and an equal weight portfolio of the stocks that make up the SPY index.
In addition to the money index, you can use just about every momentum, volume and volatility indicator possible. Finviz elite also has a about five dozen pattern recognition indicators. I’ve listed them all below.