Trade Ideas Review – A Detailed Guide for Traders

Trade Ideas Review
Trade Ideas Review
  • Reliability
  • Scope of services
  • Costs
  • Support
4.6

Summary

Trade Ideas is the by far best finance service available right now. They offer just everything beginners could think about. A free trading chat room, A.I. bases stock scanner technology, stock-picking signals, and trade alerts, plus free webinars and education material. Check out the review and use our promo code to save 25% immediately.

Nowadays, in order for a day trader to be successful on the market, they will need a good stock screener. Still, as going through all that data by yourself can be rather problematic, you might want to go for a “smart scanner” that can do all the work for you. Driven by an AI, the Trade Ideas system will automatically find some trading tips that you may use on your money-making spree. With this Trade Ideas review, you will see whether it is a good match for you or not.

What Is Trade Ideas?

Trade Ideas is likely one of the most popular market scanners that you can find nowadays. Created more than 10 years ago, it is an app that managed to gather a decent amount of knowledge and prosper. The Trade Ideas software saves people a decent amount of money, as it provides real time research on stocks and charts – all of which you can turn into hard money. And you may use any medium, from windows to everything else.

To put it simply, TI is a very efficient intra-day stock scanner that has quite a high number of built-in pre-formatted scan options for stocks. For active traders, these scanners can bring quite a high number of opportunities – particularly if they have been equipped with a good artificial intelligence system. It will find the best trades so that the investor may act quickly and reap a profit.

Trade Ideas Costs

The Trade Ideas cost features weekly or monthly subscriptions that can be paid on a standard or a premium plan. A subscription for the standard plan will cost you $99 per month (or $888, if you prefer to go for the yearly subscription), whereas the premium package will cost you $188 per month (or $1,888 if you want to go for the premium package).

The standard package features the basic scanning tools that you might need, from indicators to channel bar, alerts, and charts. The premium package will contain all that – but also advanced windows, the AI engine “Holly Grail,” and the Oddsmaker backtesting. The Trade Ideas scanner price of choice will depend on your preferences and budget. If you want to go for Trade Ideas Pro (or Premium), you will have to be willing to pay extra. You might also have to make a Windows investment.

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Platform Features of Trade Ideas

As we have previously mentioned, the Trade Ideas platform has evolved quite a lot over the past few years. It has become more user-friendly, providing a Channel Bar theme menu that is very convenient for beginners that are dealing with stocks. There, you may choose between Premarket, Penny Movers, Trending, Energy, and so on. No matter if you go for the browser or standalone program, you get the following options:

1. Strategy Scanners

TI features built-in strategy scanners that you may use to set additional parameters (e.g. charts, price range, stocks, exchanges, etc.). The trading strategies included in the scanners are Turbo Breaks, Rally Off of the Bottom, Down Big Yesterday but Up Big Today, and a variety of other unique strategies that hold a high rate of success. You are given endless possibilities to combine one strategy with another.

2. Charts

The charts of TI are fairly basic but useful for every trader – beginner or not. They feature candlesticks and bars, along with other common indicators. It’s recommended that you keep an eye on the price action in the charts – but not focus your entire energy on it. To be safe, you may want to have charts on your trading platform, because these help you understand the ups and downs of your strategy.

3. Alerts

Whenever you get results for new scans, you will see them in the alerts window of the application. These will include configurable options that tell you the exact time, company name, price, symbol, strategy name, volume, Stockwits activity, change, and many more. A user that has subscribed to the program can scroll through the window and see what alerts they have received for the day.

4. Artificial Intelligence (AI Holly Grail)

Within the TI platform, this is what you may call an innovation. Holly (Or Holly Grail) is an artificial intelligence engine that uses a total of 35 long/short trading strategies in order to find the candidates that have a historical rate of at least 60%, along with a 2:1 profit factor for trading. This artificial intelligence software practically stalks the stock market while looking up good opportunities, executing all these trades to complete their entry and exit along with all the details necessary.

The results are given in real time, and users generally use it as a “piggyback” for trades – or just use it to watch them. Throughout the night, Holly will run more than one million simulated trades, going through 45 concepts to create the most viable strategy. These options will be made available to you in the morning so that you may use them however you see fit. It will also require an addition to the Trade Ideas scanner costs, but many consider it worth it.

5. Back Tester

If you go for the Premium subscription, you will get access to the Oddsmaker – which is the back tester program that can visualize your strategy probabilities. The results of this program will be made available to you within minutes, and you should also be able to customize the entry and exit results to see how each probability is affected. Generally speaking, the program is a good way for you to perfect your strategy before diving right into the trade.

6. Order Entry and Compatible Brokers

The TI platform has also been integrated within E*Trade, eSignal, and Scottrade. You also have Interactive Brokers that enable the TI auto-trading capabilities.

7. News

While it may not have a streaming newsfeed, it does feature a list of clickable headlines for news releases. Ideally, you might want to use this as a stock scanner for technical alerts. On the other hand, if you are in need of a news platform, then you might want to try Benzinga Pro.

8. Training Sessions

Every subscriber will have the opportunity to set a one-on-one training session with the people that are running TI. They will show you the ropes and guide you through every aspect of the platform, providing answers to your questions. The purpose here is to train you in the trading domain so that you may begin to earn your profit as soon as possible – with as few losses as possible.

9. Chatroom

Nothing beats live information that you may use as you go with the flow – which is why the TI windows chatroom is actually such a convenient feature, according to every review. Registered TI users – but also non-users – may use the chatroom from 9 AM to 3 PM EST – mostly during the days of the week, but also on weekends.

These chat rooms also provide market recaps after they end, and they are also very informative due to the fact that they include well-trained moderators. More than 400 attendants share their patterns, trades, and set-ups throughout the day.

10. Video Library

Videos are an efficient way for everyone to learn if you are operating on windows– which is why the TI University section also offers a continuously growing library of instructional videos. No matter if you go for self-pace routes or you attempt to join the seminar yourself, the video will be found in the library so that you can teach yourself upon it.

Brokerage Plus and How to Use It

In early 2019, the platform released Brokerage Plus as a part of their campaign to bring the artificial intelligence system within retail traders. For a one-time fee of $1100, traders may add Brokerage plus to their current subscription – one that will offer a lifetime license. Moreover, a day trader who has had an active premium subscription before November 15th, 2018, will receive free access to Brokerage Plus. This is quite a convenient option.

Indeed, $1100 may sound quite expensive, considering the thoughts of many that left a review – but since it is such an innovative tool, the price is actually worth it. Plus, it is a one-time fee that lasts for a lifetime. So eventually, it will start paying for itself. Once you use it to make, test, and automate trading tactics, you should see that your trading opportunities will reach a new peak.

You just need to learn how to use them for stocks– so, here is how Brokerage Plus works.

1. Connect to Your Broker

TI Brokerage Plus makes a connection between the program and your brokerage account, allowing you to place trades based on the automatic strategies resulted from the program. At this point, Brokerage Plus only works with Interactive Brokers – but there are already plans for the company to make more connections this year.

2. Create Your Scan

When you wish to automate your strategies for your stocks, the first thing that you will have to do is create a scan. This scan will be useful in finding the good stocks – the ones that will be used for day trading once you put the strategy to good use. You have the possibility of using the Trade Ideas scanners that were built into the program – or you may build your own custom scanner depending on your preferences.

3. Build the Strategy

The purpose of Brokerage plus is to remove the gap lying between stocks trading and scanning – making the process more efficient.The process isn’t easy, but the platform is going to teach you how to create a good entry & exit strategy that is going to earn you the cash that you deserve.

The Platform Differentiators

Trade Ideas stands up among many scanners on the market right now – some even calling it the best for stocks. However, what makes this trade ideas platform so different from many others is its flexibility to combine one scan with another. No other scanner does it in the way that TI does, as they tend to be fairly basic and clunky. On the other hand, Trade Ideas offers a variety of scanners that were built into the system, along with some other customizable options.

Moreover, TI is actually the one that does the server scan, pushing the candidates for the stock towards you rather than using the power of your windows. The latter wouldn’t only tie up your resources but also slow the performance down.

The program also offers a web version of the scanner in the event that you need to access from a different type of windows – one where you do not have the platform already installed. It may not be as powerful as the actual platform, and it may also be clunkier – but when you do not really have any other option to handle your stocks, the web version offers great value.

Who Should Use Trade Ideas?

According to almost every review, this trade ideas program is perfect for the average day traders who work with pre-market trading, regular market data – but also post-market trading. A swing trader may also find a good trading idea or two in regards to short-term swing trades. They just have to set the time-frame parameter to select a longer period.

A charts-based or momentum trader will also benefit from the non-stop trading ideas. The biggest problem here is to not spread yourself too thin, jumping on as many alerts as possible. Not only is this applicable to this scanner, but to every other stock scanner as well. You will need to have a sound day trading methodology. This way, you may use the scanner as a pure generator for ideas and adopt the ones that fit your preferences the most.

Advantages and Drawbacks of Trade Ideas

Everyone that has left a Trade Ideas review will have pointed out some advantages and drawbacks. Here are the advantages that you may expect from it.

  • Great real-time stock scans based on strategies.
  • The in-built AI features great performance.
  • Features many strategies going from the pre-market all the way to the post-market.
  • The live chatroom provides a lot of ideas trade wise that you may use.
  • The variety of tutorials and videos is very convenient.
  • Features customizable strategies with back-testing and drag-and-drop integration.
  • You have the option of auto-trading.
  • Highly experienced experts and moderators will be there to help you out.
  • Customer service is highly responsive.
  • The advanced windows feature is seen as convenient by many.
  • That being said, while there are certainly a few good advantages, there are also a few disadvantages that you may want to keep in mind.
  • A beginner might find the learning curve of Trade Ideas quite extensive.
  • The Trade Ideas pricing for the Premium package is rather expensive.
  • The charts may need a few more indicators.
  • It can be very easy to overtrade.
  • Advanced windows might require a lot of memory.

Most of the people do not find the drawbacks to be actual deal-breakers. That being said, it will also depend on your preferences as a trader.

Verdict: Should You Go for Trade Ideas?

Overall, Trade Ideas has proven to be quite useful for those that have subscribed to their services. Efficient for both beginners and advanced traders, it can help you gain momentum and learn how to be a good trader. Hopefully, our Trade Ideas review has also given you a few good thoughts on what this service can provide.

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