Trade Ideas Review 2023
|By: Jeremy Biberdorf||Nov 14, 2022|
In a nutshell: Trade Ideas is an advanced stock scanning tool offering in-depth analysis of the market. With a variety of advanced analytical tools, it combines tried-and-tested stock scanning methods with artificial intelligence to give you the best insights.
Our Trade Ideas review considers this one of the best stock screeners on the market today.
If in-depth stock analysis is your bread and butter, Trade Ideas is a powerful tool worth looking at. It uses both traditional charting methods along with artificial intelligence.
|Charting & stock scanning||$84/month - $167/month||15% off your first purchase (code MODEST15)|
- Cutting edge analytical tools
- Live chatroom to share ideas
- Training videos and tutorials
- High fees
- Limited chart indicators
- Not ideal for beginner traders
Compare to Similar Services
Service TypeCharting & stock scanning
Fees$84/month - $167/month
Service TypeMarket news & stock screener
Fees$99 - $249/month
Promo14-day free trial
Service TypeFreemium charting
FeesFree or $9.95-$59.95/month
Full Trade Ideas Review
Trade Ideas offers pre-formatted built-in scans for uncovering profitable trading opportunities. This highly flexible platform enables active traders to configure and customize according to your needs. It also combines an artificial intelligence-powered robo-advisor engine named Holly Grail to analyze millions of potential scenarios.
In addition to excellent stock scanning capabilities and support for multiple trading styles, Trade Ideas also offers in-depth guides on how to use their platform. Due to the plethora of features offered, many new users have found the trading software challenging to learn in the past. Thankfully, newcomers to the platform can learn how to utilize every feature through TI University, allowing them to get the most out of their memberships.
Trade Ideas is best for:
- Experienced traders
- Trading automation
- Artificial intelligence-powered trading
Do you want to take advantage of new opportunities as a day trader? While this platform is vast and may intimidate first-time users, we believe this is an essential tool for day traders. It can also be a useful tool for swing traders.
Although many traders are experts at analyzing technical data, the biggest obstacle that they run into isn’t a lack of knowledge: it’s the inability to comprehend complex data in real time. Thanks to the inclusion of AI, the Trade Ideas platform can provide traders with relevant data and suggestions instantly, allowing them to streamline the trading process.
Read on to learn more about what this tool can offer the retail trader in our Trade Ideas review.
What is Trade Ideas?
Trade Ideas offers a full suite of different scans, chart windows, and learning tools. Founded by Dan Mirkin, David Aferiat, and Philip Smolen, the platform has been operating since 2003. It’s steadily evolved to meet the changing needs of retail investors in a fast-moving market.
With advanced scanner functionality, a strong educational program, and a moderated live chat room, Trade Ideas offers everything you need to make better intra-day trades. However, there’s another distinct advantage it offers: remote processing.
Whereas many stock scanners rely on the processing power of a user’s computer to scan stocks effectively in real time, Trade Ideas handles the entire process remotely. Scans are completed at the TI data centers; the platform simply provides end users with the processed data.
This not only offers a superior user experience but also helps traders trade more effectively. Even seconds can mean the difference between a huge gain and a massive loss in the world of day trading. Eliminating stress on the user’s desktop—and the subsequent lag that comes from the huge processing demands—streamlines the entire process.
Trade Ideas Features
Trade Ideas is such a vast platform that it would be impossible to discuss every feature in this review. Our review on Trade Ideas will focus on the core features we believe all investors need to know about for each trading day.
Artificial intelligence is arguably the most useful feature for traders, particularly for those who don’t trade for a living. The Trade Ideas AI system, “Holly AI,” is designed to scan through a comprehensive list of stocks, using pre-set trading strategies to conduct real trades on the user’s behalf. Although these automated trades should still be monitored, taking advantage of Holly AI alleviates a lot of the work involved with daily trading routines.
The AI system has historically been successful. Trade Ideas proved this by running a test trading portfolio from January 2020 to January 2022. This portfolio began with a net value of $50,000. Two years later, the portfolio had grown to a value of $84,756.72 (a profit factor of 1.15!). However, individual results will vary, as there are many different ways to utilize the AI system.
The AI system works by analyzing market action from the previous day after-hours. After running a plethora of backtests and analyzing assets from every angle, Holly then provides traders with trade suggestions for the following day. Interestly, Holly only suggests trades with a successful probability exceeding 60%.
Although Holly Grain is the most well–known Holly AI offered by Trade Ideas, there are actually three different AI available: Holly Grail, Holly Neo, and Holly 2.0. Each one offers a variety of exciting features and trading strategies for traders to utilize.
Holly Grail is the original version of Holly AI, which currently offers 50 different trading strategies (both long and short). Taking what they’d learned from the previous two years, the team at Trade Idea developed Holly 2.0, a more aggressive trading AI. Unlike its predecessor, Holly 2.0 only offers eight different trading strategies.
The latest version of Holly AI is Holly Neo. This AI focuses on trade volume, short trades, and current events. Holly Neo only offers two trading strategies: “Breakout long (Short)” and “Pullback long (Short).”
Depending on your premium subscription, you can have either 10 or 20 simultaneous charts. Simply pull up your desired charts directly onto the platform. You can add price alerts directly onto the charts.
Although this isn’t a charting platform, it still offers a useful number of vital indicators to help inform your next trade.
Pre-Built Stock Scans
The Trade Ideas stock scanner is the heart of the platform. Featuring both customizable and pre-built scans, newbies can set just a few configurations and begin scanning immediately.
1-2-3 Patterns and Social Media Stream are just two of the scans that can be used as part of a plug-n-play stock scanner.
Once you become confident with the Trade Ideas stock scanner, you can begin customizing your real time scans for better results. TI offers hundreds of filters for you to fine-tune your stock searches, but a few basic options are:
- New high
- New high ask
- Pre-market highs
- Post-market highs
- New low
- New low ask
- Pre-market lows
- Post-market lows, and
- Change from close
However, creating your own custom scans from scratch can be time-consuming. For users who just want to get started right away, there’s Market Explorer. This tool offers prebuilt scans created by the team at Trade Ideas.
Premium subscribers have access to the Oddsmaker Tool. This unbelievable tool enables you to back-test your strategies and have the probabilities quantified visually. Refine your methodologies by adjusting the parameters and seeing how it changes your results over the selected time frames.
One impressive feature is the equity curve. The equity curve explains how profitable a potential trade could be. Alter your methodology to see how it transforms the equity curve.
The addition of visual charts can offer new insights and allow you to better bring your trading strategies to life.
Trade Ideas Brokerage Plus takes trading one step further by enabling professional traders to define your day trading strategies and trade automatically using real-time data.
Setting your trades to autopilot can take much of the grunt work out of placing profitable trades. Although it should be used with caution, Brokerage Plus brings automation to the trading process.
How does Brokerage Plus work in practice?
Let’s take a for instance. A trader may create a custom scan for Amazon to break above its 52-week high. If it breaks above this high, Brokerage Plus can be connected to Interactive Brokers to automatically place a trade for X number of shares if Amazon does eclipse its 52-week high.
At the time of writing this article, Brokerage Plus only appears to publicly support two online brokerages. Out of these two, only one offers full automation capabilities. Those two platforms are eTrade and Interactive Brokers.
Connecting your Brokerage Plus account to either of these online brokerages is a straightforward process once you get past the initial setup. Fortunately, how to complete this process is described in detail on the Trade Ideas website.
Once that’s been completed, you can simply log in to your brokerage account. After a brief verification process, your account will be linked, and you can now conduct trades directly from Trade Ideas.
eTrade is the lesser of the two options. The first issue? You’ll need a live data plan from eTrade if you want to make trades directly from Brokerage Plus. However, the major downfall is that eTrade doesn’t support automated trading yet. You can make trades manually, but Trade Ideas is still working on implementing automated trades using the eTrade brokerage.
Fortunately, Interactive Brokers fully supports automated trading. You will need to perform a scan and set a strategy first, but once you’ve completed these steps, the entire trading process can be automated.
If hands-off trading doesn’t sound appealing, Brokerage Plus also offers a “semi-automatic” mode. The system will identify and prep the trades, but you still need to manually confirm before the trade is placed.
Trade Ideas Chat Room
The Trade Ideas (TI) chat room is a free service for both registered and non-registered users. It’s open from 9 am to 3 pm EST on most weekdays. There are also post-market recaps posted after trading closes for the day.
Moderators share useful insights during the day, such as trades, set-ups, and patterns. On average, there are 400 active users in the room daily.
While it’s a useful resource, the fact non-registered users can enter the chat room muddies the waters. For this reason, it cannot compare to premium chat rooms offered by other platforms.
For Trade Ideas subscribers, TI University offers an ever-changing library of instructional videos. By using real-world archived events, tutorials offer explanations for why certain trades were made and why they were profitable.
TI University includes instructional videos and trading courses for every ability level, so there’s something for everyone, regardless of where they are in their trading career.
Users can also schedule personalized one-to-one training sessions to take their trading to the next level. Currently, there are more than 8,000 users in 65 countries subscribed to TI University.
The full suite of TI University tutorials is open to all subscribers, which is an impressive bonus considering the depth of education on offer.
Trade Ideas Additional Features
Trade Ideas offers a plethora of advanced features that cater to various trading styles and strategies. From simulated trading and one-click trading to real-time stock racing and AI-powered robo-advisement, Trade Ideas provides users with all the tools necessary to succeed in the ever-changing world of stock trading. By taking advantage of these powerful features, traders can make more informed decisions and improve their overall trading performance.
- Real-Time Stock Racing: Real-time stock racing is an innovative feature provided by Trade Ideas that takes data visualization to a whole new level. This unique approach simplifies the stock trading experience and provides users with an engaging and interactive way to visualize stock performance. By displaying stocks as racing cars, you can easily compare stock performance in real-time, making it easy to identify winning stocks and make informed decisions.
- Market Explorer: The Market Explorer feature in Trade Ideas allows users to access high-performance pre-built scans without any customization. This is an excellent option for traders who want to get started quickly and easily with minimal configuration. The platform even includes the Alphatrends Anchored VWAP scans and auto drawing add-on for a more comprehensive market exploration experience.
- Simulated Trading: Trade Ideas’ simulated trading feature works hand-in-hand with the platform’s AI and idea generation tools to help users maximize their trading advantage. By practicing with simulated trading, investors can quickly learn which actions lead to rewards and identify areas for improvement. This valuable feature allows traders to hone their skills and strategies before diving into live trading, minimizing risks and maximizing potential gains.
- One Click Trading: Trade Ideas offers a convenient one-click trading feature that enables users to trade stocks directly within any chart window. By simply clicking and dragging the buy and sell markers, users can execute trades quickly and efficiently without having to navigate to a separate trading platform. This feature streamlines the trading process and allows for seamless integration with the Trade Ideas platform.
- News: Keeping up-to-date with stock-relevant news is crucial for making informed trading decisions. Trade Ideas provides a handy news feature within the single stock window tab, ensuring that users always have access to the latest news affecting their chosen stocks. This feature helps traders stay informed and make better decisions based on current market events.
- Compare Count Window: The Compare Count Window feature in Trade Ideas enables users to visually compare any two strategies side by side. By providing real-time updates on the frequency of each competing strategy, users can quickly determine which strategy is performing better. This valuable feature allows traders to adjust their strategies and make more informed decisions based on data-driven insights.
- Channel Bar: Trade Ideas’ channel bar feature offers a selection of preconfigured layouts organized by channel themes, including Premarket, After Hours, Social, Crypto, Volume, and more. Users can choose from these themes to quickly access relevant market data and even save their custom layouts as personal channels for easy access in the future.
- Full Quote Windows: The full quote windows in Trade Ideas provide users with all the fundamental data relevant to a stock’s price. These windows offer quick visual indicators that show where a stock is in its range for the last hour, trading week, and last 52 weeks. This feature allows traders to gain a better understanding of stock performance and make more informed decisions based on historical trends.
Trade Ideas Pricing
Reviews on Trade Ideas tend to be critical of the service’s high price point. We believe it’s worth every cent because of the sheer magnitude of the platform.
There are just two subscription plans to choose from. Both are offered as a monthly or annual subscription.
Standard Plan ($84/month $999/year) – Standalone platform with 10 charts, 10 price alerts, and visual trade assistance.
Trade Ideas Premium ($167/month $1,999/year) – Trade Ideas Premium Includes access to 20 charts, 20 price alerts, AI robo-advisor Holly, and access to Brokerage Plus.
Who is Trade Ideas Best For?
Trade Ideas is a versatile platform that caters to various types of traders, from novices to experienced professionals. It offers a plethora of features and tools that can be useful for different trading styles and strategies. In this section, we will outline who Trade Ideas is best suited for and why.
- Day Traders: Trade Ideas is a powerful tool for day traders who need real-time data and quick decision-making capabilities. The platform’s advanced scanning features, AI-powered trade suggestions, and customizable alerts make it an invaluable asset for those seeking to capitalize on short-term market movements.
- Swing Traders: The platform’s in-depth technical analysis tools and pre-built scans can help swing traders identify potential opportunities based on price trends and market fluctuations. Additionally, the Oddsmaker tool can assist in backtesting and refining strategies for this trading style.
- Algorithmic Traders: With features like Brokerage Plus, Trade Ideas is ideal for traders who prefer algorithmic trading strategies. Users can create and automate trading strategies based on real-time data, allowing them to take advantage of market opportunities with minimal manual intervention.
- Investors Interested in AI-Powered Trading: The Holly AI system is a unique offering that sets Trade Ideas apart from other platforms. Investors who want to leverage artificial intelligence for trade suggestions and strategy optimization will find the various Holly AI versions immensely helpful.
- Traders Seeking Education and Community: Trade Ideas offers an extensive library of educational resources through TI University and a moderated chat room for users to interact with fellow traders. This makes it an excellent choice for those who wish to learn, improve their skills, and connect with like-minded individuals.
- Active Traders with Limited Time: For traders with busy schedules or those who can’t dedicate their full attention to the markets throughout the trading day, Trade Ideas provides valuable tools such as real-time alerts, AI-generated trade suggestions, and automated trading capabilities. These features can help streamline the trading process and save time.
Is Trade Ideas Right for You?
Reviews on Trade Ideas claim this is the most advanced stock scanning software on the market today. We have to agree. For active day traders searching for the best trade opportunities, there’s no better alternative.
However, newbies may find it difficult to get used to all the different tools. We recommend subscribing only if you’re willing to learn the platform and study the various powerful features before jumping into live trading.
Overall, we believe Trade Ideas is one of the most effective day trading tools in the business.
Trade Ideas Review – Final Thoughts
After an in-depth analysis of Trade Ideas and its offerings, it is clear that this platform stands out as a powerful and comprehensive tool for traders of all experience levels. The combination of real-time data, advanced scanning features, AI-driven trade suggestions, and automated trading capabilities make it an attractive option for those looking to optimize their trading strategies and capitalize on market opportunities.
The Holly AI system, in particular, sets Trade Ideas apart from its competitors. By leveraging artificial intelligence, the platform delivers an innovative approach to trading that can help users make better-informed decisions and potentially increase their success rates.
Furthermore, Trade Ideas’ commitment to education and fostering a supportive community through TI University and its moderated chat room speaks to the platform’s dedication to helping traders improve their skills and knowledge. This aspect is invaluable, especially for beginners who seek guidance as they navigate the complex world of trading.
One potential drawback of the platform is its pricing, which may be considered steep for some users, particularly those who are just starting out. However, it is essential to weigh the cost against the value provided by the platform’s extensive features and tools, which can significantly enhance a trader’s ability to succeed in the market.
Trade Ideas is an impressive platform that has much to offer traders, regardless of their experience or preferred trading style. Though it may come with a higher price tag, the platform’s robust features, AI-driven capabilities, and supportive community make it a worthwhile investment for those looking to optimize their trading strategies and maximize their potential for success.
Check out Trade Ideas to take your day trading to the next level. Remember to use promo code MODEST15 for 15% off your first purchase!
Frequently Asked Questions
Want to know more about Trade Ideas? Here are the answers to the most common questions people have.
It’s best used by day traders because of the real-time data, alerts, and automated AI trading features. Swing traders may also get some usage out of Trade Ideas.
It can seem overwhelming when creating an account for the first time. Trade Ideas University offers guidance on how to use each active trading tool and how the platform fits into creating and executing a profitable trading strategy.
Trade Ideas can be used on Windows desktop computers. The desktop version allows users to completely customize their interfaces and save their layouts. There is also a web platform, but this default layout is slower and clunkier. Saving custom layouts is not possible on the web version. Certain features—such as the Channel Bar—can’t be removed from view, only minimized.
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