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.
Get Started With TradeIdeas
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 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) – Includes access to 20 charts, 20 price alerts, AI robo-advisor Holly, and access to Brokerage Plus.
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.
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!
Get Started With TradeIdeas