- Powerful automated tools for intra-day traders
- AI system can simulate millions of trades
- Fantastic learning resources
- Lack of indicators and charts
- No news feed
- Expensive compared to other tools
Trade Ideas is an online stock scanner that makes the difficult task of picking profitable trades easier.
Trade Ideas has been around since 2003 and has steadily built a loyal following of users due to its powerful automated stock scanning tools.
If you’re looking for something powerful for intraday stock scanning, Trade Ideas has many different powerful built-in preset scans to help identify profitable trades including those based on Artificial Intelligence (AI).
Trade Ideas is aimed particularly at intraday traders, momentum traders, swing traders and scalpers. It excels at finding fast moving stocks and then taking trades on the first or second pullbacks.
The basic version of Trade Ideas is free although to unlock its best features, you’ll need to upgrade to one of the full versions.
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Although Trade Ideas assumes that you have quite a bit of trading experience, the learning resources are some of the best on the market for beginners too.
In this review of Trade Ideas, we take a closer look at what it can do
Trade Ideas Pricing
You can use the basic version of Trade Ideas for free which allows access to the Trade Ideas trading chatroom, channel bar and curated workspaces but the price quotes are delayed by 15-20 minutes.
The Paid plans open up the entire platform and remove price quote delays.
The Trade Ideas Standard Plan ($118/month) is includes all of the above but with real-time streaming quotes. It also supports 10 simultaneous charts,, visual trade assistance and up to 10 price alerts.
The Trade Ideas Premium Plan ($228/month) supports 20 simultaneous charts, an A.I. powered trading assistant, up tp 500 price alerts, entry and exit signals, risk assessment and build/backtesting.
There’s also a Professional Wealth program plan which includes the powerful AI robo advisor but which starts at $5,500 per year for their.
Trade Ideas is quite complex to get to grips with for beginners and you need to invest some serious time learning the basics to get the best out of it.
The main features of Trade Ideas that stand out are:
- Artificial Intelligence which can test up to a million different trading scenarios at once
- Brokerage Plus which allows you to create scans and then trade in real time with an Interactive Brokers account
- Odds Maker Window which uses event based backtesting to score how well scans, entry signals and trading plans perform
- Alert Windows which support multiple time frames and tell you when certain parameters have been met
- Chart Windows allows you to visually confirm an alert without leaving the Trade Ideas Pro platform
- Full Quote Windows gives you an instant overview of a stock’s fundamentals with performance over time
- Top List Windows which dynamically ranks market data every 30 seconds
- Channel Bar which are per-configured layouts such as Premarket, After Hours, Social, Crypto, Volume and more
- Compare Count Windows which compare any two strategies with real time updates
It’s important to be aware however that Trade Ideas doesn’t specialize in charting such as tools like TradingView do. This means there aren’t many indicators but the automated scanning features are still surprisngly powerful and insightful.
One of the stand-out features of Trade Ideas is the so called “Holy Grail” artificial intelligence (AI) based robo-advisor which can analyze millions of simulated scenarios for trades and then make suggested buy/sell strategies.
The A.I. engine in Trade Ideas is called “Holly” which automates trade positions from 35 different strategies.
Holly can run millions of different simulations overnight to provide you with a list of buy and sell stocks.
You can automate this so that Holly places certain trades for you although it’s wise to run it in simulation mode for a while to get an idea of the success rate.
Charts and indicators aren’t Trade Ideas strongest point but there’s enough to do more than enough technical analysis for the average trader.
You can select up to 10 or 20 chart windows in your workspace depending on the subscription plan you have.
You can also add price alerts directly on selected charts although there aren’t many indicators.
We recommend using Trade Ideas alongside something like TradingView which specializes in charts and indicators.
You can set your scan preferences such as minimum and maximum price ranges, average volume, exchanges etc.
Alternatively you can use preset scans such as 1-2-3 Patterns, Social Media Stream and Extreme Movements etc. There are basic High/Low scans for beginners.
You can set your own Franken-scans with specific strategies or conditions and then link them together such as MA Crossover, New High, New Low etc.
A nice touch is that Premium subscribers can back test strategies with the “Oddsmaker tool”.
This assesses the probabilities of any strategy and provides statistics on win/loss, number of trades, commissions etc.
There a free TI Chatroom for all traders open from 9:00 am EST to 3:00 pm EST. This is a great resource where professional traders share patterns, set-ups and trades.
There are daily support sessions live throughout the trading day and there’s also the Trade Ideas Live Trading Room with Barrie Einarson.
There’s a TI University which consists of a growing library of instructional videos on using the Trade-Ideas platform with archived events, tutorials and events. There’s even the possibility of one-on-one training sessions ranging from basic starting scans to back testing routines.
The educational content in Trade Ideas is easily one of the most comprehensive of any stock trading technical analysis resource and well worth the subscription price alone for those that are serious about trading.
One of the best improvements to Trade Ideas has been the integration of brokers into the platform so that you trade directly from the platform.
Trade Ideas can be used with a range of online brokers including: Scottrade, E*Trade, eSignal and RealTick.
The Trade Ideas Brokerage Plus feature also works with Interactive Brokers for those that want to automate their trading strategies.
Although there are clickable news headlines in Trade Ideas, there is no newsfeed because its main focus is stock scanning.
While there’s no doubt that Trade Ideas is a powerful tool it needs proper configuration to refine the parameters of scans to find profitable stocks.
If not, you end up inundated with alerts that are triggered throughout the day.
Although Mac users can use the web version of Trade Ideas, Windows users can also download a desktop client. Unfortunately this isn’t available on macOS yet.
You can sign-up and try Trade Ideas free to judge for yourself.