Simply put, Investing can make you rich. Take the example of Apple, Amazon, Microsoft over the years. It is an unwritten rule that if you can pick the right stocks, you can end up being rich in just a decade or so.
The question is, of course – how to pick the right stocks?
Among the plethora of options, the probability of picking the right stock is pretty low. The time it takes to shortlist a handful of stock options is enormous. However, there is an easy way out.
You can use a stock screener to pick a handful of stocks from the vast options available in just minutes. Stock screeners are websites which allow you to filter out the stock’s which do not meet your criteria.
All that is good but which stock screener should you choose?
That is what we will help you out today. We will share with you one of the best stock screeners you can use. We are speaking about Finviz. We will go into the nitty-gritty of this stock picker to help you decipher whether it is suitable for you or not.
What Is Finviz All About?
FinViz Stands for Financial Visualization. It offers:
- Market maps
- Analysis tools
• Stock screeners (basic and advanced)
The screener clearly states that it can help you conduct financial research and analysis and even visualization to a certain extent. A single glance at the website will let you know that it has a neatly organized interface. Irrespective of the tools which you use or the information that you plot on charts, it is easy to decipher and use.
The tools on offer are highly visual, which means that there is little to no learning curve involved when using this stock screener. So, you can save your time by going with this screener. The range of tools on offer and the information which you can plot on the charts makes it suitable for not just beginners but also professional traders and investors.
A golden nugget is that it gives you a glimpse of the bulk of the market activity on its homepage. That is why you can be in the know of things just by visiting the website.
Now that you know the basics of Finviz, let us look at the creators of the tool to comprehend more about this platform.
Who Is The Creator?
Juraj Duris is the founder of FinViz. He is a successful investor and has invested in not just startups but also financial markets. He has grown FinViz over the years to make it one of the most popular screeners.
He is an investor himself and hence has taken care to include all the necessary tools and information which other investors and traders might need for trading and investing. So, when it comes to the credibility of the creator, there are no doubts.
What Is Included In Finviz?
FinViz has a lot on offer. We will go into the details of this tool below.
On the website, the first things which you will come across are the candlestick charts of:
- S&P 500
Apart from these, tables depict more information characterized by:
- Top gainers
- New high
- Overbought stocks
- Stocks with unusual volumes
- Socks that received upgrades
- Top losers
- Most volatile
- New low
- Most active
- Stocks slated to come out with earnings
- Stocks that have just released earnings
- Stocks with insider buying
- Stocks with insider selling
Apart from this, there is a heat map of the market spread across sectors like technology, services, finance, and consumption. Additionally, the home page lists the recent news and its impact on the financial market as well as analysis. It also has a table which depicts the upcoming data releases and earnings releases. Along with it, there is also a table of commodities and forex and bonds.
Thus, a single look at the homepage will let you know the condition of the entire market and the sentiment as well. However, that is not all.
Apart from the homepage, it consists of numerous other pages which have a different offering. We will go into the details of these pages below.
Finviz is predominantly a screener tool. That is why; the main offerings of this tool are on the screener page. The filters under the screener page are mainly divided into three groups. These are:
- Descriptive filters:
The Descriptive filters include things like market cap, earning state, average volume, dividend yield, industry, and so on.
- Fundamental filters:
Fundamental filters include filters like P/E, Forward P/E, EPS growth this year, sales growth quarter on quarter, quick ratio, net profit margin, and so on.
- Technical Filters:
Technical filters include filters like 20-day simple moving average, 50-day simple moving average, 52 weeks high and low, RSI, beta and so on.
As you can see, the screener page provides you with numerous filters which can help you find the stocks which meet your criteria. As a result, rather than going through hundreds of different stocks, you can now filter them out in a jiffy to find the ones which might be worth investing.
The groups’ page allows you to classify the stocks according to the sector, industry, and then filter them with the help of market cap, P/E ratio, and various other such parameters. It will help you get a snapshot of any industry and its performance across different periods.
The insider page provides you with more information regarding the insider trades carried out in the recent past. It will let you know in which company the insiders are selling or buying.
The news page syndicates recent news reports across various websites like:
- Wall Street Journal
- Market watch
In the financial markets, especially if you’re trading, the news can help you enter successful trades. Moreover, when you have information syndicated from various sources, chances are you will know about such news releases at least a few crucial seconds before the general market knows it. This page alone can help you make a lot of money if you know how to use this information.
The page lets you know about the current condition of the market across various sectors and industries in a jiffy. You can even filter the heat maps to view precisely the indices or stocks in which you are interested.
Charts and Quotes:
This page aims to provide you with charts (delayed) and quotes for completely free without registration.
Under the portfolio section, you can register for free and save your market portfolio and monitor it.
It is a private discussion platform where one trader can interact with others. It also allows traders to subscribe to channels of other traders. That is why, if you want to socialize in your group, this is the place to do so.
If you are more interested in futures & options rather than the cash markets, this page can help you out.
The forex page works similar to the futures page but displays various currencies.
Backtest page allows you to test various strategies in the past. However, it is available only to elite users.
If you’re looking to get additional benefits from this tool, then it is better to go with elite membership. It can offer you many other features like:
- Real-time market data
- Advanced charts
- Advanced screeners
- Alerts and notifications
We will go into the details of the Elite membership below and how you can use it to make a great deal of money using FinViz.
How Does Finviz Work?
While the completely free and Registered Free plans of FinViz offer a lot of data, but if you’re serious about making money by selecting stocks, you should go for the elite membership.
The additional features help you stay ahead of various other traders and investors. Moreover, it can also reduce your effort to make money from the financial markets. The elite membership has features like:
- Up to 100 screeners
- Real-time charts
- Chatting with and following other traders
- Advanced charts
- Email alerts
It means that you can keep a tab on the market activity consistently. Each of these features has its advantage.
When looking to trade in the markets, you always need real-time information. Only once you have real-time data, it is easy for you to enter profitable trades.
Moreover, if you can use a handful of screeners, you might not be able to shortlist the right stocks. That is why; when it comes to screening features; you need complete freedom. Finviz provides you with the same when you go for the elite plan.
Similarly, the charts also play a crucial role along with real-time alerts when you plan on trading or investing in the market.
As you can see, each feature of the elite membership makes it worth it. It can increase your profits if you trade and invest already or if you’re planning to dip your toes into the stock markets, it can certainly give you a head start.
Of course, once you go for the elite membership, you will not be using these features on a stand-alone basis. You will be using them cumulatively, which makes them a potent tool to help you make money from the financial markets.
Thus, FinViz provides you with a lot of data, but, if you want to put it into action, the elite membership is a must. It will ensure that you can create a proper system using this tool and trade and invest accordingly.
- Offers a lot of data
- Allows you to filter stocks easily
- Easy to understand interface
- Three different plans (free, registered free and elite)
- Covers commodity, forex, futures and cryptocurrency markets
- Helps you track your portfolio
- Suitable for beginners & experts
- Simple navigation
- Multiple asset coverage
- Time-saving filters
- Displays News Alerts from various sources
- Bit overwhelming
Does Finviz Work?
Of course, the question which you might have by now is, does Finviz work?
The answer is that yes, it does work. It all depends on how you are using the tool. It provides you with tons of information. If you can refine that information and convert it into actionable data, you can make money with the help of this tool.
While at the start, it might seem like a lot of information but once you correlate that information with the movements in the market, it will be easy for you to understand how you can use this information to your advantage.
Another reason why this tool works so brilliantly is that it can help you filter out the sites with the help of many different screeners. It means that you will not have to do so manually and therefore you can save a lot of time. The screeners can allow you to build your system, whether it is for trading or for investing. It gives you complete freedom on how you can use the tool.
With so many ways to use it, you’re bound to find one which works the best for you.
Who is the Ideal Candidate for Finviz?
One of the advantages of this tool is that it can work for everyone.
Are you planning on just tracking the market?
If yes, then also it can work for you.
Do you trade currently?
If yes, it can make your trading strategy more precise.
Do you invest for the long term?
If yes, it can help you pick the right stocks with ease.
As you can see, it is suitable for almost anyone. If you want to do anything related to the financial markets, including commodities, cryptos, and forex, it is a tool which you cannot ignore.
If you’re serious about making money by creating asset classes, the elite plan should be your best choice to help you gain maximum chances of generating profits.
Finviz can single-handedly help you make money from the financial markets. It is a tool with a plethora of different options. Whatever strategy you use while trading asset classes; it can help you with all of them. Rather than having to juggle across various websites to gain the information or data which you need, it is a tool that can help you on a stand-alone basis.
If you want to grab opportunities like:
- Picking the next Amazon
- Knowing which cryptocurrencies are gaining momentum
- Using leverage in futures to make a windfall
- And so on
Finviz is the perfect option to go for without any second thoughts. With Finviz, you can grab the opportunities that you were waiting for.
Using the elite membership, you can raise the effectiveness of this tool manifolds. That is why, if you’re genuinely interested in making money by trading or investing, Finviz is a tool which you cannot ignore.