Momo is a real-time market scanner created for momentum traders. This scanner provides an in-depth analysis of stocks that set new intraday highs and lows to help momentum traders in finding the best opportunities. Alerts, market meters, and custom filters are also available with Momo. Dig in deeper to my Momo review to know if this is one of the best stock scanners out there!
This Momo Scanner Review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.
Table of Contents
Pros: What I Liked
Relatively affordable subscription
Helpful for active traders
Easily track momentum at the index level
Cons: What I Didn't Like
Doesn’t offer any built-in charts
Web version doesn’t work properly
You probably discovered Momo Scannerm for the same reason you might have come across any other financial newsletter, trading service, or investment program:
Because you want more money in less time.
And chances are, you want to quickly multiply the money you do have (as opposed to waiting months or even years to see a decent ROI). This is a really exciting promise, and it’s probably why the financial publishing and training industry is worth billions of dollars.
The problem is, because the idea of doubling, tripling, or 10X-ing your money in a few minutes to a few days is so enticing, there are a ton of shady characters in this space.
But, putting that aside, let’s say every investing guru and “trading expert” on the internet had the best of intentions. Even with proprietary algorithms, a room full of supercomputers, and a team of rocket scientists, most of these experts would be lucky to get it right 20% of the time.
Now sure, we’re talking about asymmetric bets here, so theoretically the winners should more than make up for the losers. But in order to make that happen, you can NEVER miss a trade. With a 20% success rate (speaking optimistically), one missed winner could turn a profitable month into a loser.
That’s a lot of pressure and a lot of stress (not to mention a lot of losing) with not much certainty. But what if there was a way you could build a passive income stream that’s actually passive?
An income stream that doesn’t require:
- Constantly monitoring your phone for buy/sell alerts
- Obsessively watching charts and movement
- The emotional roller coaster and angst of hoping one winner can cover the last 8 losses
- Gambler’s odds (20% chance of success is worse than the odds of winning at Blackjack)
An income stream that brings in consistent revenues every single month (from a couple thousand dollars to well over $10,000)? An income stream you could actually build in your spare time, and grow as large or as small as you want to, without having to spend hours a day monitoring charts, trades, and alerts?
If that sounds like something you’d be interested in, check out Digital Real Estate.
However, if you’d still like to know more about Momo Scanner, keep reading.
What Is Momo Scanner?
Momo Pro provides traders the advantage of swiftly identifying movers and insight into time entries to maximize profit. Built for momentum trading, its simplicity, adaptability, and alerting abilities benefit all trading types. Because the platform is solely focused on real-time intraday data, it does not make sense for swing traders or anybody with multi-day trading strategies.
Momo provides breadth meters for the Dow, Nasdaq, and S&P 500 indices. The meters depict the number of stocks in each index that reached intraday highs and lows over a 3-minute moving average using a heat map-like display. The meters provide an easy method to measure intraday momentum.
However, it would be great if Momo also monitored how the frequency of intraday highs and lows changes during the day to provide a fuller view of how a session is progressing. There is currently no context for what occurred outside of the 3-minute window captured by the meters.
Intraday High And Low Scanner
One of Momo’s most powerful tools is the real-time intraday high and low scanner. It’s a never-ending stream that shows every stock making new lows in the left column and every stock innovating good highs in the right column. The stock scanner also displays how many times that symbol has made a new high or low during the current session, and it highlights when a sector is also making a 52-week high or low.
You may customize the scanner to show stocks based on price, volume, and market sector. You may also construct a second stream view that is filtered by a specific list of stocks. You must upload the list as a CSV file including all of the ticker symbols that you want to include in the real-time scan. A stock scanner can be used to help find swing trading setups based on technical analysis.
Momo’s most powerful function is the Discovery scanner, which is exclusively accessible to Pro users (which makes the upgrade worth it). This scanner provides significantly more real-time information about stocks than the intraday high and low scanner while still highlighting the significance of finding stocks with strong intraday momentum.
You may categorize stocks using the Discovery scanner based on a custom momentum score that compares the number of new intraday highs to the number of intraday lows. It’s a basic yet useful tool for identifying stocks that consistently set intraday highs or lows. Furthermore, the scanner allows you to sort stocks based on their distance from their VWAP, money flow, trading volume, and float.
Two more indicators help you in identifying stocks that may be good trading opportunities. The unusual volume indicator compares trading activity in 15 minutes to the average volume in the same time over the previous 30 days. In short, it applies the concept of searching for stocks with above-average trading volume to intraday trading.
The squeeze indicator is a one-of-a-kind indicator that identifies stocks that might be susceptible to short squeezes. This is a one-of-a-kind tool that we’ve only seen previously with the ShortSqueeze paid subscription fee. The Squeeze indication is divided into 3 areas: Squeeze Now, Squeeze Pre, and Squeeze Post. The categories help traders in determining where a stock is in the “squeeze” pattern.
The indicator additionally provides a “squeeze strength” value to provide further information about the timeframe of the squeeze. This may be beneficial for traders who wish to approach the squeeze play in a variety of ways. The Discovery scanner may be filtered by market sector or your preferred stocks. You may also design custom filters based on any of the data table’s columns. Every minute, the data is automatically updated.
Momo Pricing Options
Momo has three different price tiers: Momo, Momo Pro, and Momo Pro+. The Momo plan is $17 per month and excludes the Discovery Pro scanner as well as notifications based on a stock’s trading volume, distance from VWAP, and price change.
The Discovery Pro scanner, as well as several other helpful scanning tools, are included in the Pro plan, which costs $27 per month (more on this later). Everything in the Momo and Pro plans are included in the Pro+ plan, as well as conditional alerts, advanced indicators, and an API.
Annual plans are discounted by 20-25 percent, and all plans include a 5-day free trial. I don’t think that Momo Scanner offers a free account. If you’re new to this industry and wondering what’s the use of stock screeners you can use a stock screener to filter stocks by industry, price, the average number of shares that change hands during a day, and more.
Stock screeners are an essential tool for the beginner trader, particularly if you’re about to try day trading or swing trading and aren’t sure what assets to buy and sell. Please take note that Momo Scanner is not affiliated with Trade Ideas. Trade Ideas is a software that helps traders find the best setups in the market right now, Trade Ideas keeps its eyes on every facet of market movement. While Momo scanner is a real-time market scanner.
Is Momo Scanner A Scam?
So, is Momo Scanner a scam? Not technically. You can make money with it, but it’s definitely not as easy as Momo Scanner makes it sound. Again, with any kind of financial product (especially trading), you’re taking on a lot of risk.
Sure, you could hit it big and retire in Italy, but chances are you need the stomach and financial cushion to weather tons of losses before you get there…and it may never happen.
Most of the big gains numbers these companies use in their marketing (“xyz grew by 4,112% in 3 months” or “this option made 324% in just 2 days”) are cherry-picked.
They don’t tell you about the 10 100% losers that came before. In other words, if you invested $100 into 11 recommendations, you’d lose $1,000, and make back $324…so you’d still be out almost $700. Most people don’t have the fortitude to stick it out through 3 straight months of losers in the hopes of landing one big winner.
What if, instead, you took those same 3 months, invested just a couple hours a day (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?
And what if you actually didn’t need to wait 3 months? What if you could get started today and have your first payment in a week? And what if you could double it next week? Well, that’s the power of Digital Real Estate.
It’s a true lifestyle business. Your laptop and an internet connection is all you need.
Some of the most successful students in this program run their entire 6-figure businesses from:
- A camper in the middle of the woods
- A beach chair on the water in Mexico
- A small villa in Greece
They’re able to travel around, living their lives first, and focusing on their income second.
Because even if they stop working for an extended period of time, the money keeps coming in.
So adventure, memories, and experience are the top priority. And they never have to worry about how to pay for the next trip, or consider asking for time off.
If this sounds more like the type of life you want to lead, just click here to find out more about Digital Real Estate.
Are There Alternatives To Momo Scanner?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
What Is My Top Recommendation For Making Money Online In 2022?
Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs. While there may be no “perfect business”, the research IS conclusive:
Whether you’ve never made a dollar online, or you’ve been in this space for a while but never really “made it,” Digital Real Estate is for you.
1. It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Real Estate business.
And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.
Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day. This is only possible if you have an income stream that’s not tied to your time.
2. You Own & Control EVERYTHING: With anything in the financial markets, you own and control NOTHING. You have no say in price fluctuations, demand, or what the market will do.
Trying to beat the market is fighting against the tide. There’s just too much working against you, no matter how many supercomputers or rocket scientists are on your side. With Digital Real Estate, you own the assets, which means you have all the power and all the control.
3. Little To No Startup Costs: It’s possible to get into Digital Real Estate with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work.
Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.
4. Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple keystrokes, and a single phone call (and you don’t actually need the phone call).
Remember: each Digital Rental Property is worth $500 to $2,000 a month in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier. Because you have more knowledge, more experience, more results, and more momentum.
If you wanted to double your income with any kind of trading or investing, you’d have to double your initial capital OR double the average order size of your existing trades. And, guaranteed that’s a lot harder than a few clicks and a few minutes of your life.
5. Make Money Helping Real People: This part is what makes it all worth it. In the financial markets, you might be helping your family, but the impact never goes beyond you and maybe a few others. But with Digital Real Estate, you’re actually helping people by solving your clients’ biggest problem:
Small, local businesses need more customers, and with Digital Real Estate, you are unleashing a flood of happy, paying customers for these businesses. You make money by helping them make money. Not a big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.
Once you see how Digital Real Estate makes a real impact in the lives of real people, you’ll sleep like a baby with a big smile on your face.
Now, the choice is yours. You could continue browsing, looking at opportunities like momo scanner which could one day make you money. You could continue researching, never making a decision.
OR, you could take a look inside, consider what you really want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms thanks to Digital Real Estate.
A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits. All while genuinely helping real people who are grateful and happy to pay for it.