Once you find stock screeners with your personal “must have” features, the benefits associated with the nice to have and advanced features can make a difference. Take into account your personal preferences as well.
Remember, screeners are stock screening tools and you are looking for the best tool for the job.
The following are often consider advanced – unless you need them and understand them
The notification below is driven by an automated simulation of a live strategy. It is set up so that I need to respond if a buy or sell recommendation occurs.
Simulation is the ultimate screening concept.
In stock screening, the goal is to run the screen looking for companies to buy. In other words - buy criteria. The downside of this is that anything that is not a buy is a sell. That is not necessarily a good approach.
Simulation automates the process of determining what positions in the current portfolio need to be sold. It applies sell rules. Then it applies buy rules to determine which are the best candidates to buy to replace the positions that were sold. It is an extension of custom universe screening.
Notice that this can be accomplished by saving the current holdings of the screen in a portfolio that can be screened. Then, a screen which identifies the rules which would cause you to close a position is run against the portfolio. Any company which passes this screen needs to be sold. The original buy screen is then run to find buy candidates.
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