Trade Ideas Review

 

Artificial Intelligence for Professional Trader- Trade Ideas Pro Helps Traders Find The Best Setups in The Market Right NOW.

 

 

As a stock trader, have you ever wished that you know exactly which stock to trade and when? You are not alone! We all need some help to perfect our stock trading strategies. Perhaps, this is the reason why stock scanners are becoming very popular in recent years. Today, you can hardly see any stock trader that doesn’t make use of a stock scanner.

Stock scanners have been automated to scan the market and pick up a pattern that may not be so visible to human eyes. These scanners are software that watches the stock market 24/7 hours. In some cases, using a stock scanner can help you to improve your overall trade. The popularity of stock scanners means that new software is coming out every day with each scanner claiming to be the best.

We will take a detailed look at this stock scanner known as “Trade Ideas“. It has been around for a really long time. Today, you will learn whether Trade Ideas is exactly what you need to improve your stock trading or not. This honest and unbiased review will tell you everything you need to know about Trade Ideas.

 

• Name: Trade Ideas
• Type: Stock Scanner
• Founded: 2002
• Founder: Dan Mirkin, Philip Smolen, and Brad Williams
• Price: Starts $89/month

 

What is Trade Ideas?

Trade Ideas is a stock scanner created in 2002 for active day traders. This software caters to professional traders, active traders, and even hedge funds managers. Trade Ideas software comes with features that looks at stock information, compare data, process data, and provide alerts of profitable trades.

According to the company, Trade Ideas was created to give traders an idea of what works and what doesn’t work in the stock market. You can think of this software as an indicator used in forex trading. The overall goal of Trade Ideas is to show the trader profitable stocks to trade.

 

Who is Behind Trade Ideas?

Trade Ideas was created by Dan Mirkin, Philip Smolen, and Brad Williams in 2002. Three of them are still active in running the company. Dan is the CEO, Philip is the Software Architect while Brad is Chief operation officer. Before founding Trade Ideas, they have previously worked in the stock trading industry.

According to Dan Mirkin, he had over 20 years’ experience in the financial marketplace. He contributed to the design and testing of CyberTrader – the first commercially viable Direct Access trading platform which was acquired by Charles Schwab for USD 400 million in 2000. The founders also have experience in software development.

 

How Does Trade Ideas Work?

If you have used any stock scanner or forex indicator in the past, then you will easily understand how this proprietary software works. The main function is to scan through millions of trading scenarios to identify the most profitable setups and notify the trader when these scenarios are occurring. The software comes with tons of customizable features. You can customize these features to suit your trading style and help you achieve your objective.

To use the software, you need to first sign up on their website. After you sign up, you will get access to the free version of the software. However, some premium features won’t work when you use the free version. You will only be able to access the most basic features. When the software is activated, it scans the news websites, including social media platforms such as Twitter for unusual activities.

The logic is that if traders are buzzing about a stock on social media, it can sometimes be predictive of future market moves. This data is presented in 3 windows which include bullish social sentiment, bearish social sentiment, and unusual social activity.

 

 

Some other features of the software include:

1) Training
When you sign up for any of the plans (including the free plan), you will get free training from the company’s support staff. This is not a stock trading training. Rather, it is to show you how various features of the software works.

 

2) Alert Window
You get an instant alert when the software identifies a profitable trend in the market. The alert windows from Trade Ideas are designed to let you stream and even display events as they take place in real-time. However, you need to set them up first. With these alerts, you can place your trade to take advantage of the activities in the market.

 

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3) Live Chat Room
Trade Ideas chat room is very active. You can talk to other experienced traders here to get an idea of what is going on in the market. You can use the information you get from the chat room to place your next trade. Click Here For Free Training room

 

4) Holly
Perhaps, this is the best feature of this software. Holly is an artificial intelligence that scans through everything that affects stock trading such as fundamental, technical, and social data overnight. The information is provided to you. Holly is a premium feature. However, most traders reported a 60% success rate using this feature.

 

5)Real Time Stock Racing

Trade Ideas’ Real-Time Stock Race is a unique feature that simplifies the process of visualizing stock market data, providing traders with a clear and concise view of important metrics. By using the Real-Time Stock Race, users can easily identify winners, losers, and middle-performing stocks in a visually appealing and straightforward manner

 

 

How Much Does Trade Ideas Cost?

Trade Ideas have 2 plans.  You can also switch between plans. These plans include:

 

1) Standard Plan
Standard Plan starts at $89/per month or $1068 per year. With this plan, you will get access to more features such as price alerts, training programs, and charting. However, this plan won’t still give you access to Holly – the artificial intelligence that performs automated trading.
Features include:

 

• 500 price alerts
• 10 simultaneous charts
• Streaming trade ideas
• One-on-one training by Barrie Einarson

 

2) The Premium Plan
The Premium Plan costs $178 per month or $2136 per year. You will get access to all the features with this plan. It also provides you an opportunity to enjoy automated trading on the platform.
Features include:

 

• Access to Holly – the virtual trading analyst
• AI chart-based trade assistance
• 20 simultaneous charts
• Building and backtesting tools

 

Pros of Trade Ideas

 

• Every trader has their reason for choosing a specific stock scanner. In this section, we will discuss the top advantages of using Trade Ideas:
• Holly: Despite being very expensive software, most top traders use it to get access to this artificial intelligence nicknamed “Holly”. It provides information that can boost your winning rate of 60%.
• Active Chat Room: The robust chat room allows traders to talk to one another and get an idea of what is going on in the market. Even if you are a beginner, you can learn from what experienced traders are discussing in this chat room.
• Real-Time Alerts and Data: With real-time alerts and data, you can quickly analyze the market and learn about the events that may affect your trade.
• Customizations: Trade Ideas software gives users the freedom to customize the functionalities of the software to suit their personal styles.
• Great Customer Support: The customer support team of Trade Ideas provide quick and valuable response once you contact them. Whether you are experiencing a technical issue or you need advice, the customer support can help within a very short time.

 

Cons

 

•  Expensive: Trade Ideas is one of the most expensive stock scanners in the market today. Some of the features that come with this software are available on other lesser-priced stock scanners.
• Too Many Alerts: In most cases, users reported receiving an overwhelming number of alerts. These alerts can cause distractions as well as confusion in some cases.

 

Conclusion

It is important to mention that no stock scanner can give you a 100% winning rate. In most cases, you will get about 60%. Most of the decision lies on you. What Trade Ideas do is to look for information, analyze the information, and provide them to you. You can then decide on how you want to use the information provided to trade stocks. Nevertheless, a lot of traders who have used the software confirmed it helped them to improve their trade.

 

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