Trading stocks is a good opportunity for people who want to establish reliable income streams. However, locating the stocks that are worth investing in takes a lot of effort, knowledge, and even some luck. And, if you are new at it, it might prove to be too big of a challenge for you. So, this is where Trade Ideas steps in. This scanning platform will help you improve your trading strategies. With it, you will be able to narrow down the thousands of stocks to a list you can actually manage. As of right now, Trade Ideas is one of the best screening tools you can get your hands on. We’ve seen a few Trade Ideas reviews and decided to do our own evaluation of the platform.
This company has been providing traders with scans since 2002. It is here to help you remove the guesswork from your decisions and help you analyze the market. Trade Ideas lets you follow the stocks that are worthy of your attention, whether they are constantly featured on the news, rising in value, or even falling. The platform will also recommend which stocks you should buy, and which you should short. It will even recommend exit point for the stocks you are currently holding. This type of platform is perfect for traders who want to be active, but simply don’t have the time to do so. Using alerts, backtesting and artificial intelligence can help you manage your portfolio successfully.
Trade Ideas Features
But, you are here to get some concrete information. So, let’s go through the features Trade Ideas has to offer. Trade Ideas is packed with features designed to help you find better trading opportunities on a regular basis. The amount of features can be overwhelming at first, but you’ll find your favorites and learn how to maximize the platform in no time.
While charts are not a crucial part of the platform, they are definitely a useful addition. You can use the charts to confirm any alerts you receive and do so instantly. This includes double checking the entry points. The fact that the platform offers charing means that you won’t have to close it to check your charts elsewhere. And the charts are quite good actually. The platform offers tools to draw lines, make notes on your charts and everything else that goes with them.
If you don’t believe you have the discipline to follow your strategy, this is the perfect feature for you. Using alert windows will let you view events in real time as they are taking place. Of course, you will have to set up filters and alerts. You can also add columns set to work with your specifications that will let you observe multiple time frames. You can also check your alert history by simply scrolling down.
Backtesting With “OddsMaker”
If you purchase their premium subscription plan, you will have access to their backtesting feature. You will be able to use this powerful tool any time you want and improve your strategies. To make sure your results return as soon as possible, the actual computations all happen on the servers of the platform.
But, how does it work? Well, it will test your strategies with historical data and improve them for you. You can customize your results by simply adjusting relevant data. And, you can even run this feature from your alert windows.
Trade Ideas Pro
You can download the Trade Ideas stock scanner for additional customization abilities. This software was designed to assist active traders who didn’t feel that the web-based platform is powerful enough for them, essentially, with this scanner, you can obtain faster access to various analysis servers of the platform. And, you can actually try a free DEMO version of this software. Just bear in mind that the demo version has its limitations. For example, it lacks the custom formulas you might want to test out.
The Trading Room
This live room is free of charge for traders who want to connect with their peers. All you would have to do to join this room is create an account on their website. A newcomer in the world of trading can benefit a lot from the ability to connect with other traders. But, bear in mind, the chat room is only open during weekdays from 9 AM to 4 PM Eastern Time.
The Holly Grail
One of the most impressive features of this website is their AI technology – The Holly Grail. This technology splits up strategies into smaller concepts which you can use to profit from the market. In essence, the Holly Grail will do your work for you and save you valuable time. It will scan every data at its disposal over the night to deliver strategies with success rates of over 60% in the morning.
Once you become a subscriber to the platform, you can partake in free 1-on-1 lessons with staff members. You simply make a reservation and go on to learn what you need to know about the platform. Trading lessons, on the other hand, will cost you 99 dollars per hour, if you don’t find the free ones to suffice.
To put it simply, this feature is a piece of software that will let you fully automate the trading process. The software is capable of entering the position, set stop orders, and exit the position by itself.
If you prefer the fast pace of active trading, you can enjoy this feature of the Trade Ideas platform. The platform is quick to update and present the latest valuable information to you.
Trade Ideas Subscription Plans and Costs
Apart from the free services you can use, there are three packages you can choose from. The first one will cost you 99 dollars per month. With it, you will gain access to real-time information, charting, alerts, custom formulas, and other basic features. The premium package costs 188 dollars per month, which is closer to the cost of Equityfeed. And it adds backtesting and AI to the basic plan. And lastly, if you are already a professional, you can opt for their professional services. This plan will cost you over 5,000 dollars per year.
It should also be noted that Trade Ideas does not offer news scanning like Equityfeed does. You would need to opt for a second subscription to a service like Benzinga Pro if news is important to your trading strategy.
* Advanced AI that can help you build your portfolio
* Flexible auto-trading options
* Excellent customer service
* Free chat rooms you can use to connect with other traders
* The platform might overwhelm a trading beginner
* Limited indicators
* Advanced lessons are relatively expensive
Final Remarks on Trade Ideas
Trade Ideas is one of the most useful services you will find that boasts some of the most advanced AI and backtesting options out there. This service is especially useful for those who enjoy active trading, but simply don’t have the time to do everything themselves.