Trade Ideas is a stock screening tool built for active day traders.
It puts data on stocks and ETFs at your fingertips, and helps you uncover valuable trading opportunities.
What is Trade Ideas?
Combining both advanced AI with traditional charting methods, the Trade Ideas Scanner searches the stock market for trading opportunities and delivers data in real time.
The platform was founded in 2003, so it has a long history, and the founders have been able to continually tweak and add more features to it over time.
You can use the program from your browser or download it onto a Windows PC. While running the program, Trade Ideas uses remote processing from its own data centers to process more data quickly.
Once in, you’ll find a highly customizable stock trading platform. Their intuitive layout offers a variety of charts to predict future movements, as well as tons of filters to search stocks based on key criteria. They also have a wealth of educational materials for understanding and making the most out of their platform.
This article will summarize some of the most important features of the platform, but see this Trade Ideas review for more details.
AI Trading Assistant
Trade Ideas uses an AI they call Holly Grail to analyze the market and recommend trading strategies.
Holly has over 50 different strategies to choose from, including The 5 Day Bounce, Downward Dog, Early Bird, or Mighty Mouse. You can customize Holly to look for the criteria that is important to you, finding trade targets quickly.
With Holly, you can choose your risk profile, set limits on shares or money spent, and choose from a number of other customizable options to fit your exact trading style.
This Trade Ideas Review calls Holly “one of the most successful robo-advisors out there.”
But Trade Ideas doesn’t stop there, they actually have two other Holly AIs–Holly Neo and Holly 2.0–with different strategies available, depending on what you’re looking for.
Newsletter
The Swing Picks Newsletter gives their top five stock picks each week based on their proprietary TI-Strength index. The index focuses on the relative strength of stocks by comparing them against top indicators. The relative strength method has been studied extensively and has been proven to help performance.
Brokerage Plus
The power of the Brokerage Plus feature is that it allows you to set your targets and then trade automatically.
One second can mean the difference between a profit or a loss, and introducing automation into the trading process enables you to trade instantly. Once you have the strategies in place that make you a profit, you can reduce your workload with this simulated trading program.
Brokerage Plus connects to both Interactive Brokers and E*Trade, allowing you to trade directly through your broker in real time. The E*Trade integration also has $0 commissions on trades.
Educational Resources
There are many different resources available to learn how to use Trade Ideas.
TI University is for subscribers and has videos, articles and trading courses on just about every topic you could want.
One of the best features of TI University is the ability to schedule one-on-one training sessions to tackle very specific questions.
There’s also a free chat room available where you can discuss strategies with others.
OddsMaker
The OddsMaker is a dynamic tool that allows you to test how your ideas would have performed in the past.
You can then adjust your parameters and compare ideas against each other. It uses event-based backtesting to give a score on your plans, and then the AI helps you optimize your trading strategy before putting it into place.
Price
Trade Ideas has two pricing options to choose from:
- Trade Ideas Standard: $84/month ($999/year)
- Trade Ideas Premium: $167/Month ($1999/year)
The standard plan offers 10 charts and 10 alerts, while the premium plan has 20 charts, 20 alerts, plus the Holly AI and Brokerage Plus.
The price is comparable to other products, like Trend Spider, which has fees that range between $39 – $119/month.
Trade Ideas Pros and Cons
Pros
- Highly customizable
- Great learning center
- Over 50 different strategies and 3 AIs to choose from
- Backtest your strategies with Oddsmaker
- Simulated trading with Broker integration
Cons
- More expensive than some other options
- No Mac Version
For more pros and cons, you’ll want to read this Trade Ideas review before investing.
Conclusion: Is the Trade Ideas Stock Scanner Worth It?
Trade Ideas has an abundance of features that might seem overwhelming at first to beginners. However, their TI University helps beginners learn the program if you’re willing to put in the work.
The price combined with the myriad of powerful tools makes Trade Ideas well worth it for the serious day trader.
You’ll want to check out Trade Ideas for yourself to see how it can enhance your day trading.
