Whether you admit it or not, every day your brain deceives itself by blurring reality and clouding decision making.
The stock market is the ultimate battlefield where emotions, intelligence, and data fight one another every second the market is open and without a certain degree of clarity and confidence, we lose money. After failing, we try to recover from the guilt and loss and do it all over again - without getting emotional. Psychologists and behavioral researchers are now suggesting technical approaches using lines and studies merely only help us confirm what we want to see and actually prevent us from making the wisest data-driven decisions. These innate cognitive biases (everyone has them) create mental conflicts that inhibit clear, unbiased decision making. So instead of gaining clarity from attempts in using supposed tried and true trading tools and a methodology, traders unwittingly instead reinforce their existing cognitive biases.
From what I've read, psychologists conclude that much of our decision making is based on our primitive ancestry where we lived minute by minute, day by day. As such, trend-lines, charts, and supporting studies often do not help since we are "programmed" to decide for the "now" and not into the future. What does this mean? Well, people are not great at making emotional decisions nor ones which include future data.
In creating MOMO, one of our goals was to provide an unfettered view into movement to better support our “primitive selves”, without "goal seeking". A view which allowed us to quickly identify opportunity, without prejudice. We think we succeeded with MOMO by displaying stock action in a clean and concise format. No bias as to whether its a pattern or not and possibly most importantly it eliminates passing judgement on whether the price is “too high” or “too low” based on a chart or study.
We, humans, are good at understanding data for immediate decisions. Lines and studies are not supportive of any of our innate, primal or cognitive skills and often cloud our decision-making process, yet aid our "confirmation process".
We've shared our thoughts on overcomplicating stock movement before and this is why we don't aspire to add in every last study that you may find in other stock scanner software.
MOMO answers the most fundamental and pertinent question of “is the stock going up or down” and leaves it up to you to decide if it is a continued opportunity. Bringing real-time data into the picture means you have a current picture of price and the best chance to maximize profits based on your actions.
In addition to giving us an instrument that allows us to instinctively react; the nature of MOMO also provides a dynamically updated watchlist -constantly displaying what stocks are moving and dismissing those stocks which are not. MOMO exposes you to over 6500 different US-based stocks and ETFs to give you increased awareness and money-making opportunities.
//Profit from Momentum
Get MOMO here: MOMO in the App Store