Full Trade Ideas Review
Trade Ideas offers pre-formatted built-in scans for uncovering profitable trading opportunities. This highly flexible platform enables you 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.
Trade Ideas is best for:
- Experienced traders
- Trading automation
- Artificial intelligence-powered trading
Do you want to take advantage of new opportunities as an day trader? While this platform is vast and may intimidate first-time users, we believe this is an essential tool for day traders.
Read on to learn more about what this tool can offer in our Trade Ideas review.
What is Trade Ideas?
||Charting, stock scanning, and automated trading
||$118/month – $228/month
Trade Ideas offers a full suite of different scans 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.
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.
Depending on your 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 scans for better results.
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 see how it changes your results.
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 you to define your strategies and trade automatically.
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 your usual broker to automatically place a trade for X number of shares if Amazon does eclipse its 52-week high.
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.
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 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 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 plans to choose from.
Standard ($118/month $1,068/year) – Standalone platform with 10 charts, 10 price alerts, and visual trade assistance.
Premium Plan ($228/month $2,268/year) – Includes access to 20 charts, 20 price alerts, AI robo-advisor Holly, and access to Brokerage Plus.
Trade Ideas FAQ
Want to know more about Trade Ideas? Here are the answers to the most common questions people have.
What Type of Trader Should Use Trade Ideas?
It’s best used by day traders because of the real-time data. Swing traders may also get some usage out of Trade Ideas.
How Do I Learn How to Use Trade Ideas?
It can seem overwhelming when creating an account for the first time. Trade Ideas University offers guidance on how to use each tool and how the platform fits into creating and executing a profitable trading strategy.
What Platforms are Supported by Trade Ideas?
Trade Ideas can be used on Windows desktop computers. There is also a web platform, but this is slower and clunkier.
Is Trade Ideas Right for You?
Reviews on Trade Ideas claim this is the most advanced stock scanning platform on the market today. We have to agree. For active day traders, 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 features before jumping into live trading.
Overall, we believe Trade Ideas is one of the most effective day trading tools in the business.
Check out Trade Ideas to take your day trading to the next level.