Trade Ideas

Trade Ideas Review Trading 2023

Trade Ideas is a well-known intraday stock scanner that offers real-time data from stock exchanges and ETF trades. The platform is powered by an AI robo-advisor named Holly and connects to multiple level 2 online brokerages with a customizable interface. This review of Trade Ideas explores the features offered, how it works, pricing, free trials, and tips for getting started.

What is Trade Ideas?

Founded in 2003, Trade Ideas was created by a team of FinTech entrepreneurs to assist investors and intra-day traders in catching stocks in real-time. Stock and options scanners process a large amount of data and filter out stocks worth watching daily. Trade Ideas is a web-based software that provides investment suggestions and opportunities in the stock market.

Trade Ideas delivers powerful trading software that helps traders, investors, and fund managers scan the stock market efficiently to detect trends, reversals, and execution signals. It monitors every stock trade throughout the day and sends notifications in real-time of potential setups based on your pre-defined filtering criteria.

What sets Trade Ideas apart is its broad range of fundamental and technical filters, including market cap and EPS, and event trigger settings to take advantage of opportunities first. It solves the biggest challenges of stock trading, where traditionally, investors had to manually sift through a large amount of market data to find profitable opportunities and execute promptly.

How Trade Ideas Works The software employs an AI-powered robo-advisor system consisting of various investment algorithms. It runs a million trading scenarios overnight to determine market relationships with the highest predictive outcome probability, which it uses to suggest triggers, longs, and shorts that qualify. Users can choose to track the AI’s performance or act on the trades at their own risk.

The AI advisor is named Holly, after the holy grail, and serves as Trade Ideas‘ investment discovery engine. After each trading day, Holly splits strategies into over 35 concepts and analyzes technical, volume-driven data, longs, shorts, fundamentals, and more. The advisor’s monthly performance is published on the Trade Ideas website.

Three different Hollys are available for users:

1. Holly (Holly Grail)
2. Holly 2.0
3. Holly Neo Trade Ideas also offers additional features and tools to enhance the user experience.

Brokerage Plus This feature enables Interactive Brokers account holders to create scans, build trading strategies, and execute automated trades. A semi-automatic option is available, where users manually place entries, increasing control. Trade Ideas has been known to limit the number of Brokerage Plus licenses, such as capping them to 1,000 in Q1 2019.

Free Simulated Paper Trading Account Trade Ideas offers a free demo account to test-drive Brokerage Plus before opening an account. The simulated paper trading account lets you trial Interactive Brokers’ platform without any commitment, with prices and account values based on live market conditions, including simulated trading costs, commissions, and spreads, without risk.

OddsMaker Window The OddsMaker, exclusive to premium subscribers, allows for backtesting strategies by scoring scans, entry points, exit points, and trading plans over recent historical data. This visualizes investment approaches by quantifying the probability of success and suggests refining strategies by incrementally optimizing parameters.

Chart Windows The Chart Windows tool allows users to validate alerts without leaving the Trade Ideas Pro platform, instead of using separate platforms for analysis and alerts. Users can access 10-20 chart windows, depending on the subscription plan, and add price alerts directly to selected charts. This tool should only be used to reference stocks and not to expect a vast number of chart indicators compared

Pricing & Free Trials Trade Ideas offers a monthly subscription service starting at $149 per month. However, discounts are available for quarterly and annual subscriptions. The software also offers a 7-day free trial for new users to test the platform and its features.

Tips for Getting Started If you are new to Trade Ideas, here are some tips to get started:

1. Start with the 7-day free trial to familiarize yourself with the platform.
2. Set up and test your alerts and filters before using real money.
3. Take advantage of the live trader’s chat room and support team for assistance and insights.
4. Use the free simulated paper trading account to practice and refine your strategies.
5. Read the monthly performance reports and keep up-to-date with the latest stock market trends and news.

Conclusion

Trade Ideas is a robust and versatile trading software that offers real-time data and AI-powered robo-adviser system to help investors, traders, and fund managers identify profitable opportunities in the stock market. Its wide range of features and tools, including the Brokerage Plus, free simulated paper trading account, OddsMaker Window, Chart Windows, news, and live chat room, make it a comprehensive solution for stock market analysis and execution. The monthly subscription service starts at $149 per month, with discounts available for quarterly and annual subscriptions, and a 7-day free trial for new users. Get started with Trade Ideas and take your stock market trading to the next level.

Information about Trade Ideas:

• Customer support can be reached via email, phone, live chat, support ticket or mailing address. Support hours are Mon-Fri 06:30-13:30 PST.
• To sign up, select a pricing plan, apply coupon, fill in personal information and make payment. An account is then created using the email and username.
• Trade Ideas is best for dedicated and active traders who trade using day, swing and momentum strategies. It is a top screener with many features, educational support and broker compatibility.
• Trade Ideas Premium account costs more ($1,200 per year) and includes access to AI virtual trading analyst, full signals service and strategy backtesting.
• Trade Ideas is only accessible via a web client. Login credentials can be entered on the website portal.
• Broker integration is different for each firm and instructions are available on the website. Compatible brokers include eTrade, Scottrade, eSignal, Lightspeed Trading and Interactive Brokers. TD Ameritrade compatibility is coming soon.
• Trade Ideas has a free demo version with limited features and live account can be opened with either standard or premium subscriptions ($1,068-$2,268 annually or $118-$228 per month).