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Trade Ideas Review
As can be seen, both investing and trading can provide significant difficulty. Because of the sheer volume of information constantly being pushed at you, it may be hard for you to acquire any advantage. Because of this, Trade Ideas serves high-frequency traders, active traders, and hedge funds to handle overwhelming data.
Trade Ideas is a freestanding stock scanning platform that provides powerful analysis tools, artificial intelligence, and a one-of-a-kind market scanner. Their market scanner is widely considered as the most effective tool in the industry.
This article is a review of Trade Ideas, their features, pricing, and pros and cons. Keep reading to learn more.
Trade Ideas Overview
Trade Ideas is considered to be one of the most successful standalone scanners available today. The platform has many constructed scans, each looking for trading chances in real-time.
Generally, Trade-Ideas Professional (TI) is an extremely effective tool for traders searching for a continuous stream of trading concepts over the day. You will not require coding experience since it is flexible enough to design unique strategies. A hybrid version mixes the already built-in techniques automatically.
Lately, TI has become more user-friendly, enabling you to begin working with it without requiring excessive prior explanation immediately. However, to understand the system comprehensively, a one-on-one training exercise with a Trade-Ideas instructor is provided for each subscription. A large number of videos and instructional guides are also available.
The software may be accessible through a browser for ease of use, and you can also install it as a separate desktop software on their computers.
Trade Ideas Features
The vast level of accessible scans is rather enticing, making it attractive for newcomers to dive right in, but you must exercise caution before doing so. Backfiring is a potentially lethal effect that can occur with any strong weapon, and traders must train themselves to prevent it.
Users can construct a workplace window by selecting several scan windows using the depicted tiles on the screen’s left side. The channel bar provides users with a graphical representation of the categories, kinds of tools, and scans from which you may choose using the picture tiles.
Depending on the subscription option, TI allows up to 10 or 20 chart windows to be opened simultaneously. Because of this, rather than needing a separate charting system to evaluate prospects, it is much simpler to bring up a chart immediately on the platform. Users can now directly put price notifications on selected charts.
The fact that TI is not a charting platform explains why there is such a restricted selection of chart indicators. It is included to make it easier to reference equities on scanning. The charts are adequate, but they cannot take the place of a dedicated charting tool such as TradingView or the one provided to you by your broker.
Trade Ideas offers easy-to-use filters and parameter setting windows that flow smoothly for experienced traders who need to alter pre-built scans or develop scans. These traders may need to build their scans.
You’ll be able to construct your very own Franken-scans by linking mini-widget tiles that depict various tactics and situations like a Scrabble word.
The platform includes pre-built scans. Generally, the pre-built scanners are robust enough to plug and play when you take them out of the box, even after making adjustments.
In fact, the Social Media Stream, the 1-2-3 Patterns, and the Extreme Up/Down are some of the greatest set-ups for momentum trading techniques. However, they may appear somewhat complicated.
After putting a few different approaches to the test in the Oddsmaker Tool, you can automate them using a function known as Brokerage Plus. Traders are given the ability to develop scans, establish trading strategies, and engage in automated trading thanks to this cutting-edge tool.
For instance, you may develop a scan that looks for stocks that have broken over their recent peak. Then you can devise a plan to purchase 100 shares at the asking price with a stop at $0.50. After that, you may link Trade Ideas to your broker and place transactions using auto-pilot or semi-auto-pilot settings.
For the time being, Brokerage Plus is not offered to customers of any other brokerage but Interactive Brokers.
The backtesting function of the Oddsmaker tool is available to premium customers, who may use it to test their methods or any pre-built scans. This incredible tool allows you to alter parameters progressively so that you may optimize your process. It also visibly assesses the likelihood of any option.
Additionally, it offers information such as the number of wins and losses, transactions, fees, return percentage of the strategy, expected yearly returns, and the profit factor. The equity curve may be depicted visually using informative charts. You may look to the calendar to determine which days prompted method trades and which days did not qualify for trading.
Here’s a demo video of how the software works
Trade Ideas Chat Room
The Trade Ideas chat room is offered at no cost to registered TI members and non-users. Generally, the live trading room is open from 9:00 am to 3:00 pm Eastern Standard Time (EST) on most weekdays.
In fact, the patterns, set-ups, and trades discussed by the moderators during the day in the live trading room make for an extremely interesting experience. There are frequently more than 400 people present each day.
This trading room is fairly strong, especially since it’s free. However, it will not take the place of paid chat rooms such as Investors Underground, but it is wonderful to have as a free alternative.
Trade Ideas University
Trade Ideas provides its customers with a huge library of instructional films on how to use the platform. These videos include archived events, tutorials, and events geared at users of all skill levels.
Users can learn at their speed or participate in daily live seminars, which are held Monday through Thursday. One-on-one training sessions are available to clients who would need additional in-depth assistance.
Even if the headlines on TI may be clicked, there is no live streaming of the news feeds. Benzinga Pro and Equityfeed are better news sources. Trade Ideas’ news is a useful supplement if you want to rapidly discover why a company is rising or falling in value.
TI has collaborated with many online broker and study platforms, including Scottrade, E*Trade, eSignal, and RealTick, to integrate its scanning tools and technologies directly or as add-ons. For customers who want to systematize their trading methods within the TI platform, Trade Concepts Brokerage Plus (Beta) integrates with Interactive Brokers accounts.
Holly, the shop scanner’s AI engine, is a first of its kind. Using artificial intelligence (AI), Holly, a Robo-trader, adviser, and portfolio manager, automatically executes trades based on any one or a mixture of 35 different trading methods.
Holly conducts millions of simulations nightly to come up with a list of equities to buy and sell. Users can follow Holly’s progress or piggyback on her deals. There is no denying that the performance outcomes are excellent.
In addition to a free restricted option, Trade-Ideas (TI) offers two other price options for its users. The Free Trade-Ideas platform is accessible over the web. Users are granted access to a live trading chat room and selected workspaces inside the channel, which display price quotations that are 15-20 minutes behind real-time.
1. The Standard Plan is a standalone platform that provides users with real-time streaming quotations, 10 concurrent charts, graph visual trading help, and 10 price alerts. Other features of the Standard Plan include the free TI features. This plan has a monthly cost of $118, or a yearly pre-pay option is available for $1,068.
2. The Premium Plan contains everything in the Standard Plan. It also includes 20 simultaneous charts, artificial intelligence-powered trading assistance named Holly, entries and exit signals, risk assessment tools, and the ability to design and backtest strategies.
The premium plan grants users access to Brokerage Plus in addition to cutting-edge tools for artificial intelligence research and development. This plan may be purchased for a monthly rate of $228 or an annual rate of $2,268 if paid in advance.
Real-time market data is included in both subscription plans, which active traders should be able to anticipate receiving from any stock scanning tool.
Trade Ideas Pros and Cons
Daily traders who trade before, during, and after market hours would love this stock scanner. Larger time frames may reveal short-term swing trading opportunities for swing traders.
Momentum and chart-based traders can be overwhelmed. Avoid spreading yourself too thin and overreacting to warnings. All scanners do this. A strong trading technique and using the scanner as a pure idea generator will help you accept trading ideas that match your style. Clearly, Trade Ideas is for momentum traders.
- Best strategy-based stock screener in the industry that works in real-time
- The performance of trade strategies that include AI is amazing
- Ideas keep coming up from before the market to after it
- More ideas in the free, moderated live chat room
- Many training videos and guides
- Strategies that can be changed and tested with a drag-and-drop interface
- Auto-trading availability
- It’s easy to make too many trades at once
- More signs could be added to the charts
Frequently Ask Questions (FAQs)
Is it possible to get Trade Ideas for free?
Live trading is also available at Trade Ideas. It’s open to the public and operated by a member of the company’s employees. You can use this wonderful resource on weekdays between 9 am and 3:00 pm Eastern Standard Time (EST).
Which trade is best for beginners?
Even those with full-time jobs can swing trade and still make a lot of money, which makes swing trading ideal for those just starting. An example is that swing trading can be done in as little as 15 minutes daily.
Is the idea of trading well?
Active day traders will find Trade Ideas ideal. Trading strategies ranging from swing trading to scalping are all possible on the platform. One of the greatest scanners for active day traders, hands down. Swing trading may be possible using Trade Ideas, but it’s unlikely that the monthly fee would be worthwhile.
Users of Trade Ideas are, on average, satisfied with the quality of their service. However, the firm still has specific areas in which it may be improved, and as a result, some consumers may submit negative reviews.
For Sitejabber, customers have given Trade Ideas 4.74 stars out of 5 in 135 reviews, which shows that most customers are happy with their purchases. Most of the time, customers who are happy with Trade Ideas talk about technical analysis, upthrust, and the trading course.
Trustpilot is an online review community that unites businesses and consumers by allowing individuals to submit honest feedback. Trade Ideas has a 3.8/5 Trustpilot rating, which is excellent. 43% of consumers like the firm.
Top Trade Reviews
Top Trade Reviews has a group of devoted traders on staff that test and assess various services available in the market. An outstanding rating has been awarded to Trade Ideas because the site received 4 out of a possible 5 stars.
Having been improved and refined since 2003, this software is now very powerful. Despite a learning curve needed to get started, their thousands of users are both happy and there seems to be good potential for making a great deal of profit.
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