We test what's being sold to traders.
Starting with our own strategy.

Retail trading runs on claims nobody checks: impressive win rates, screenshots of the good days, backtests fitted to the past. We take a claim, freeze the rule with a date before we look, grade it forward on public data, and publish the verdict — including when it's embarrassing. We started with our own screener. It failed, and we published that too.

Rule frozen before the fact  •  Graded forward, winners and losers  •  Recomputable from public data  •  Published either way

Free, one email per verdict, nothing else — with a confirmation email first. Privacy

We never execute trades, hold your money, or touch your brokerage — ThePickLog is the scoreboard, not the casino. How your data's handled →  ·  The 7 checks any service should pass →

Our own screener's live record

— the strategy we tested first, and failed

These are not results we are advertising. They are the published outcome of Experiment 01, recomputed in your browser from the raw pick log every time this page loads.

The experiments

All experiments & how they work →

Each one is a claim someone is selling, written down as an exact rule with a date, then graded forward against a control. One is finished. Four are running in public right now.

EXPERIMENT 01 FAILED

Our own low-float momentum screen

We pre-registered the edge we believed in and ran it forward for seven weeks. It lost — significantly, and in the opposite direction to our prediction. At 30 trades it looked like it was working; that early positive read was noise.

verdict 2026-07-29 · n=309 · Δ −3.0pp vs baseline
EXPERIMENT 02 RUNNING

The 2-period RSI "high win rate" trade

One of the most published retail setups of the last twenty years, almost always sold on its win rate. We're testing whether a high win rate survives contact with expectancy — on liquid names, where costs can't be blamed for the answer.

registered 2026-07-29 · first verdict ~2026-09
EXPERIMENT 03 RUNNING

The MACD bullish crossover

The most widely taught indicator signal in retail trading — on every platform, in every beginner course. Which makes it the least likely thing to still contain an edge, and exactly the sort of claim nobody bothers to check.

registered 2026-07-31 · day-matched control
EXPERIMENT 04 RUNNING

The turn-of-month effect

A 40-year-old calendar claim, still sold in seasonality newsletters: returns cluster in the last few and first few trading days of the month. The strongest survivor of our 25-test calendar sweep — in which, corrected honestly, nothing survived. So it gets the real test: forward, window frozen in advance.

registered 2026-08-06 · QQQ · first verdict ~2027-09
EXPERIMENT 05 RUNNING

Overnight vs intraday

Over 27 years, essentially all of QQQ's return arrived between the close and the next open. Firms sold this as "night effect" ETFs — and the ETFs died. Registered forward as an attribution claim, explicitly not a tradeable edge, with each day's intraday leg as its own control.

registered 2026-08-06 · attribution only · first read ~2027-01

Field notes

— the mistakes, written up All field notes →

Both of these are our own errors. We publish them because a record that has never issued a correction isn't a careful record — it's an unaudited one.

How an experiment works here

Five rules. They are the whole method, and they are what makes a verdict here mean something.

1 · The claim gets written down first. Rule, universe, entry, exit, cost assumption and the exact bar it has to clear — all frozen with a date, in a public file, before any of the data it will be judged on exists.
2 · It runs forward only. No backtest ever counts as evidence. Only outcomes that happen after the registration date are scored.
3 · It is graded against a control. "It made money" is not a result. The question is always whether it beat the honest alternative — doing the simple thing instead.
4 · The statistics are done properly. Confidence intervals, a correction for the fact that repeated bets on the same names are not independent, and a count of how many results you'd expect to look good by chance alone.
5 · The verdict is published either way. A method we hoped would work and didn't is a more useful result than one more success story.

Every frozen rule is in HYPOTHESES.md; every verdict is recorded in the audit log; the raw data is in picks.csv and outcomes.csv. Nothing here has to be taken on faith.

Where this started: the screener

Before it was a testing lab, this was a scanner. Every weekday morning a cloud job screens the market's tiniest stocks — "low-float" names with very few shares available to trade, which can spike 20% or 100% in a day and collapse just as fast — and ranks the ones showing early signs of ignition on a simple published score.

That screen is Experiment 01, and it failed. We still run it, log it and grade it in public, for two reasons: the log is the raw material every rule here is tested against, and a scanner you can watch fail in real time is a more honest demonstration of the method than any description of it. The screen is what we point the honesty machine at. The honesty machine is the product.

Quality check on today's top movers

Quality Lens

The highest-momentum names, screened for business quality — so you can see at a glance which movers are real businesses and which are likely to rug you. Click any row for the full scorecard.

Fundamentals sourced from SEC EDGAR (public filings); live price/market-cap is Yahoo-derived and may be delayed. Not affiliated with the SEC.

Scoring today's top movers…

What this costs, and what we won't sell

Every verdict is free, permanently. Each experiment, each write-up, the full pick log, the validation dashboard and the raw CSVs. Publishing a verdict only some people can read defeats the point of publishing it.
We will never sell you a signal. No picks, no alerts, no "our system says buy." We tested our own signal in public and it lost — selling it anyway is the exact behaviour this project exists to check.
What we'd charge for is the machinery, not the answers. Choosing what gets tested next, the working notes behind each experiment, and eventually running your own frozen rule through the same harness. Never earlier access to a verdict — those land free and public on the same day for everyone. Priced so it can't pretend to be a trading edge.

Free & open OPEN NOW

Free

Everything we publish, and everything the site does. No card, no trial.

  • Every experiment and verdict, win or lose
  • The full pick log, validation dashboard and raw CSVs
  • Compete: $100,000 in play money, live prices, leaderboard
  • Built-in assistant to learn the metrics

Member COMING SOON

$9.99/mo

For people who want the lab to keep running. Planned, not for sale today.

  • A vote on what gets tested next
  • Emailed the moment an experiment reaches its verdict
  • Every frozen rule, signal and outcome as a clean download
  • The working notes — what we tried, what broke, what we threw away

Not early access to verdicts. Those stay free and public the day they land — a verdict only some people can read isn't published.

We'll send one confirmation email — you're not on the list until you click it. After that, one email when it opens. Nothing else, ever. Privacy

Lab access COMING SOON

$19.99/mo

Point the machinery at your own rule. Planned, not for sale today.

  • Everything in Member
  • Register your own rule and have it frozen and graded forward
  • Scored against the same day-matched control we use
  • Your results published alongside ours, pass or fail

We'll send one confirmation email — you're not on the list until you click it. After that, one email when it opens. Nothing else, ever. Privacy

The paid tiers are shown so you can see where this is headed — they are not available, nothing on this site is for sale today, and neither tier will ever include picks, alerts or a signal. They open only if and when the tooling is genuinely worth it and legal review clears. We'll say so out loud when that changes.

Start free, or tell us what to test next

Create an account to trade the screen with play money and follow every experiment as it grades. Or send us a claim someone is selling and it goes in the public queue.

Educational / informational use only. ThePickLog publishes an impersonal, objectively-screened watchlist on a regular schedule. Nothing here is investment advice or a recommendation to buy, sell, or hold any security, and no content is tailored to any individual's circumstances. We are not a broker-dealer or registered investment adviser. The operators may hold positions in screened securities. Low-float / low-priced stocks are highly volatile and carry a substantial risk of loss. Past performance does not predict future results.

Today's screen

The low-float universe ranked by the published ThePickLog score. Click any row to see exactly why it screened.

#Ticker iTier iScore i Price iGap % iRVOL i Float i Quality i Watch level i Trade (paper) i

Where these numbers come from

Fundamentals are read from SEC EDGAR public filings. Live quotes come from a market-data vendor whose terms don't permit public redistribution, so today's screen shows clearly-labeled sample prices to visitors — the banner at the top of the page says so whenever that's the case. The pick log, the track record and every experiment on this site are unaffected: they have never used this feed, and they re-derive from picks.csv and outcomes.csv. One known limit worth stating: float here is approximated from shares outstanding; true public float and short interest need a paid feed.

Educational / informational only — not investment advice or a recommendation. Screened by objective criteria, identical for all users.

Portfolio PAPER MODE

Your simulated Compete portfolio — balances, open positions, and order history.

Click Refresh to load your account.

Positions

Ticker iQty iAvg entry i Current iMkt value i Unreal. P&L iClose i

Open orders

Submitted iTicker iSide iQty i Type iStatus iCancel i

Recent orders

Submitted iTicker iSide iQty i Type iAvg fill iStatus i

Educational / informational only — not investment advice. Paper-trading only, no real money: Compete portfolios are a $100,000 simulation; the owner's Alpaca paper account is separate and owner-only.

Compete SIM

Each player starts with $100,000 in simulated cash. Buy and sell the screened names from the Watchlist tab at live prices — your portfolio and everyone else's are ranked below by total return.

Sign in to play. Create an account (just an email + password), get $100k in play money, and your trades will count toward the leaderboard.

Educational / informational only — not investment advice. The Compete mode is a simulation with play money; no real orders are placed.

Guide — how to read & use the screen

No "proprietary AI." ThePickLog runs two transparent, deterministic models on every name. Neither is a buy signal — together they help you separate "this is moving" from "this is actually worth the risk." Below is what every number means and how to use it.

The whole methodology

Each pre-market, the scanner ranks tiny low-float stocks by four observable facts: how few shares exist, how unusual today's volume is, how far the price has gapped, and the share price itself. A second, independent check reads the company's actual financial statements to ask whether there's a real business behind the ticker. Then the honesty machinery takes over: every pick is written to a permanent, append-only log before the market opens — enforced by a hard gate that refuses to log anything after 09:20 ET, added after we found seven sessions where it hadn't been — and graded automatically at prices you could realistically get — including how badly it fell, not just how high it spiked. Any new rule must be registered with a date in advance and proves itself only on future picks. In one sentence: a robot that picks volatile stocks every morning and grades its own homework a week later, in a log it can't edit.

Everything below is the technical detail of those two models — the exact formulas, weights, and what each metric means.

① Momentum score 0–100 · tiers A–D

Answers "is this moving right now?" A weighted blend of four pre-market facts — float, relative volume, gap, and price. It's what ranks the Watchlist. High score = the stock is unusually active for its size, nothing more. Tiers A–D rank that intensity, not quality: in the live log the hottest tiers (A/B) have shown the deepest drawdowns — not better returns — so read a high tier as a downside flag, not a green light (Finding A).

② Quality Lens 0–100 · Green→Black

Answers "is this a real business?" A fundamentals-driven read of the financial statements that scores quality, value and risk, and tags the name Investable / Speculative / Too Hard. Click any ticker (or its Quality chip) on the Watchlist to run it.

How to read a Watchlist row

# Rank, sorted by momentum score (highest first).
Ticker The symbol — click it to run the Quality Lens deep-analysis.
Tier Intensity band of the momentum score: A ≥75, B ≥60, C ≥45, D below — how hot the setup is, not how good. Hotter tiers have drawn down deeper in the live log (Finding A).
Score The momentum score, 0–100. The bar is the same number, drawn.
Price Latest / screen price per share.
Gap % Move from yesterday's close into the pre-market. Green up, red down.
RVOL Today's volume ÷ the stock's own average. 1× = normal, 5×+ = something's happening.
Float Shares actually available to trade. Smaller = more violent moves.
Quality Risk label (Green/Yellow/Red/Black + score). Click for the full scorecard.
Watch level A +20% reference price — used only to grade hits later. Not a target or advice.
Click anywhere else on a row to expand why it screened — the four momentum components and their individual sub-scores.

Model 1 — the Momentum score

The formula

Component weights

What each input means

Float — shares available to trade. Smaller float, more violent moves. Sweet spot under ~3–5M shares; scored down toward a 50M ceiling.

RVOL — today's volume vs. the stock's own average. The single best tell that something unusual is happening. ~10× maxes the input; 5×+ is notable.

Gap % — move from prior close into the pre-market. Bigger gaps = more attention and momentum; ~20% maxes the input.

Price band — strategy targets roughly $0.50–$10. Outside the band is down-weighted, not auto-excluded.

Tiers: A ≥ 75 · B ≥ 60 · C ≥ 45 · D below — an intensity ranking, not a quality grade; in the live log the hottest tiers show the deepest drawdowns (Finding A). Watch level = +20% from the screen price — a reference only. On the Track record page a pick is a WIN if its cost-adjusted open→close return (enter at the next open, exit that day's close, −2% costs) is positive — the realizable result, deliberately not "ever touched +20%".

Model 2 — the Quality Lens RULE-BASED

A deterministic, rule-based second opinion — no AI in the score — layered on as a defensive filter. It reads the income statement, balance sheet and cash-flow statement and rolls seven categories into one 0–100 score and a risk label.

Category weights

Risk labels: Green low risk · Yellow needs review · Red high risk · Black likely uninvestable. Risk subtracts from the overall, so cash-burning, heavily-diluting names can't hide behind a flashy chart. A critical flag (e.g. going-concern) forces Black no matter the score.

What it checks

Financial health, business quality & valuation — revenue trend, margins, free cash flow, leverage, liquidity, returns on capital, and conservative value multiples.

Management alignment centers on share-count discipline — dilution is the #1 way low-float names destroy holders, and it's read straight from the filings.

The "too hard" filter tags each name Investable, Speculative, or Too Hard (pre-revenue, biotech, mining) — because knowing what not to analyze is half the edge.

Some inputs (insider ownership, auditor changes, going-concern, filing timeliness) need a paid fundamentals/filings feed; rather than guess, they are shown as "not checked".

Metric glossary

Plain-English definitions for every metric in the screen and the deep-analysis scorecard — what it is, and how to read it.

Momentum metrics

Float

Shares a company has freely trading in the market (excludes insider / locked-up shares).

Read it: smaller float = thinner supply = sharper moves. Under ~5M is the strategy's sweet spot.

RVOL relative volume

Today's volume divided by the stock's own average volume.

Read it: 1× is a normal day; 5×+ means unusual interest; very high RVOL on no news can be a pump.

Gap %

The percentage move from the prior close into the pre-market / open.

Read it: bigger gap = more overnight attention. Direction matters — chasing a huge gap is how you buy the top.

Price band

The strategy's target range, roughly $0.50–$10 per share.

Read it: inside the band scores full; outside is down-weighted, not banned.

Tier

An intensity band of the momentum score: A ≥75, B ≥60, C ≥45, D below.

Read it: a "how hot is the setup" shorthand — not a grade of the business. The hottest tiers (A/B) have shown the deepest drawdowns in the live log (Finding A), so treat a high tier as a downside warning, not a buy.

Watch level

A reference price set +20% above the screen price.

Read it: a yardstick for grading the screen later — not a price target or a recommendation.
Financial health

Revenue CAGR

The smoothed annual growth rate of sales over the years available.

Read it: ~10–20%+/yr is healthy; a negative rate (shrinking sales) is a yellow flag.

Gross / operating / net margin

Profit left after cost of goods (gross), after running the business (operating), and after everything incl. tax/interest (net).

Read it: higher and positive is better. Negative operating/net margin = the business loses money on its core operations.

Free cash flow FCF

Cash from operations minus capital spending — the cash a business actually generates.

Read it: positive FCF is the single best sign of a real business; persistent negative FCF means it survives on raising money.

Operating cash flow

Cash produced by day-to-day operations, before capital spending.

Read it: negative for three straight years is a serious cash-burn red flag.

Debt / equity D/E

Total debt divided by shareholder equity — how leveraged the company is.

Read it: ≤0.3 is conservative, ~1 is moderate, >2.5 is a high-leverage red flag.

Current ratio

Current assets ÷ current liabilities — can it cover the next year's bills?

Read it: ≥1.5 is comfortable; below 1 means short-term obligations exceed liquid assets.
Business quality

ROIC return on invested capital

Profit earned per dollar of capital put into the business.

Read it: ≥15% signals a genuinely good business; negative means it destroys capital.

ROE return on equity

Net profit as a percentage of shareholder equity.

Read it: ≥20% is strong, but check it isn't just from heavy debt.

Revenue consistency

How steady (and positive) year-over-year growth has been.

Read it: steady growth scores higher than the same average delivered in lumpy, unpredictable jumps.

Moat proxy

A stand-in for durable advantage: high, stable gross margin plus positive returns on capital.

Read it: high here suggests pricing power; it's an estimate, not a guarantee of a moat.
Valuation

P/S price / sales

Market value relative to annual revenue.

Read it: ≤1 is cheap, >6 is rich. Most useful when a company isn't yet profitable.

P/E price / earnings

Price relative to net profit.

Read it: ≤10 cheap, >35 rich; negative P/E = no profits, so the multiple is meaningless.

P/FCF price / free cash flow

Price relative to the cash the business throws off.

Read it: ≤10 cheap, >35 rich — harder to fake than earnings.

EV/EBITDA

Enterprise value (incl. debt, minus cash) vs. pre-interest, pre-tax operating earnings.

Read it: ≤6 cheap, >20 rich; accounts for debt that P/E ignores.

Net cash

Cash on hand minus total debt.

Read it: positive (more cash than debt) is a balance-sheet cushion and a plus for value.

Intrinsic estimate & margin of safety

A conservative value (latest FCF per share × 14) and how far below it the price sits: (value − price) ÷ value.

Read it: a positive margin of safety (≈30%+) means the price is meaningfully below a cautious estimate. Needs positive FCF to compute.
Management, risk & labels

Share dilution

The change in share count over the years available.

Read it: flat-to-shrinking is great; +15% is a yellow flag; +50% is a red flag and the top way pennies erode holders.

Insider ownership

Percentage of the company held by executives and directors.

Read it: ≥10% means management eats its own cooking. Needs a paid feed — shown as "not checked" otherwise.

Risk label

Green / Yellow / Red / Black summary of the risk category and critical flags.

Read it: Black = a critical disqualifier (e.g. going-concern) and overrides the score regardless of how the rest looks.

"Too Hard" classification

Investable, Speculative, or Too Hard (pre-revenue, biotech, mining, opaque financials).

Read it: Too Hard isn't an insult — it's the discipline of skipping what you can't reliably value.

Putting it together — a sane workflow

  1. Start with the Watchlist, top down. The momentum score tells you where the action is — but action alone is just volatility.
  2. Glance at the Quality chip before anything else. A Red or Black label next to a hot mover is the screen telling you "this is the part that gets people rugged."
  3. Click the ticker for the full scorecard. Read the red flags and positive signals, not just the number — one going-concern or +50% dilution flag outweighs a pretty score.
  4. Check the "Too Hard" tag. If it's pre-revenue biotech or a miner, the financials genuinely can't be valued reliably — that's a reason to pass, not push harder.
  5. Use it as a filter, not a trigger. Neither model says buy or sell. They narrow a noisy list to a shorter one worth your own due diligence in the actual filings.

The methodology is provided for education. A high score is not a recommendation to buy; it describes how a stock ranks on these public criteria. Both models are deterministic, rule-based research tooling — not investment advice, and not a buy/sell/hold signal. Verify everything in primary filings before acting.

Track record

Every pick logged before the open, graded on that day's open→close return — all of them, winners and losers. This is the page most scanners won't show you.

In August 2026 we found that our scheduler had drifted past the opening bell on seven occasions and logged 128 picks late. Those picks are excluded from every number here and the rows were kept, not deleted. Read the correction →

Want the deeper cut? The model validation dashboard tracks every pre-registered hypothesis (exit rules, filters, a Bayesian read-out) out-of-sample — recomputed live in your browser from the same raw CSVs, so nothing here has to be taken on faith.

Loading the live pick log…

Return by tier

Does a higher score actually mean a better outcome? The real test is whether A beats B beats C on mean net return — so that is the column below, next to the median, the number of distinct companies behind it, and a ticker-clustered confidence interval. This is how you'd know, and how you'd kill the product honestly if it doesn't.

Honesty checks

  • We publish the full return distribution — median, mean, % positive — not a lone win rate
  • Average worst-case drawdown (MAE) is shown, not hidden
  • "WIN" means a realizable open→close return after costs, never "ever touched +20%"
  • Picks are append-only once logged — never edited or deleted; outcomes graded by a scheduled job, not by hand
  • Worst misses shown right next to best calls
A modest-but-real edge beats a fake 90%. Stats are blank until picks reach the 5-trading-day grading mark, then fill in from the append-only log.

Every logged pick

Date iTicker iTier iScore i Screen px iWatch iNet iWorst dip iResult i

Hypothetical research outcomes — may not reflect real execution, liquidity, or costs. Past performance does not predict future results. Educational / informational only.

Ask the assistant

A built-in guide for understanding what you're looking at — metrics, why a name screened, the quality lens — and for walking through a decision step by step. It answers only from the data this app has fetched and ThePickLog's published method. It will not pick stocks for you or give financial advice.

Educational only — not financial advice, not a recommendation to buy or sell. Low-float names are high-risk. Verify every figure via the linked sources.