If you’re a day trader looking to take advantage of new opportunities, continue reading because Trade Ideas may be the right platform for you! Trade Ideas is a wonderful platform that offers pre-formatted built-in scans for uncovering profitable trading opportunities. It is a highly flexible platform that enables you to configure and customize according to all of your individual needs as you will see in this Trade Ideas review.
It also combines an artificial intelligence-powered robo-advisor engine named Holly Grail to analyse millions of potential scenarios. It is quite common for this platform to intimidate first-time users because it is so vast, however, it is an essential tool for day traders and will accompany them throughout their whole journey. It offers a full suite of different scans as well as many different learning tools.
It was founded in 2003 by Dan Mirkin, David Aferiat, and Philip Smolen and it has steadily evolved to meet the ever-changing needs of retail investors in an incredibly fast-moving market. It features advanced scanner functionality, a strong educational program, and a moderate live chat room. It offers users everything they need to make better instar-day trades.
This review is packed full of information about Trade Ideas and if this review interests you, check out this Benzinga Pro review as well.
Trade Ideas features
Trade Ideas is an incredibly vast platform and it would be impossible to add every feature into a single review. However, in this review, we will take a look at the core features that everyone needs to know about. Let’s take a look.
Brokerage Plus
Using Trade Ideas Brokerage Plus allows you to take trading just one step further by allowing you the opportunity to define your strategies and trade automatically. It should definitely be used with caution; however, it does bring automation to the trading process.
Charts
Depending on what sort of subscription you opt for, you can have either 10 or 20 simultaneous charts. You will be able to quickly and easily pull up your desired charts directly on the platform and you can also add price alerts directly onto the charts. It is good to remember that although Trade Ideas isn’t a charting platform, it is still able to offer a useful number of vital indicators to help inform your next trade.
The Oddsmaker
If you want access to the Oddsmaker Tool, you will need to have a premium subscriber. This great tool enables you to back-test all of your strategies and have the probabilities quantified visually. This also allows you to refine your methodologies by adjusting the parameters, it will show you just how it changes your results.
The addition of the visual charts can offer new and exciting insights that will allow you to bring your trading strategies to life.
Pre-Built Stock Scans
The Trade Ideas stock scanner is essentially the heart of the platform. It features both customizable and pre-built scans and newbies can simply just set a few configurations to being scanning immediately. 1-2-3 Patterns and Social Media Stream are only two of the great scans that can be used as part of a plug-n-play stock scanner.
Once you have become confident with the Trade Ideas stock scanner, you can begin customizing your scans for far better results.
The pros and cons of Trade Ideas
Trade Ideas is an extremely advanced and highly valuable stock scanning tool that offers in-depth analysis of the market as a whole. It comes with a large variety of advanced analytical tools and it also combines tried-and-tested stock scanning methods with artificial intelligence to give you the best insights possible at all times. Some even consider it to be one of the best stock screeners on the market today.
Pros
- A great variety of training videos and tutorials
- Cutting edge analytical tools
- Live chat room available for idea sharing
Cons
- High fees
- Very limited chart indicators
The bottom line
Trade Ideas is truly one of the most advanced stock scanning platforms on the market today. For active day traders, there truly is no better alternative around right now and there won’t be for a long while. However, people that are new to the scene may find it slightly difficult to become used to all of the different tools to use it, so there is likely going to be a lot of studying involved.
Subscribing to this platform should only be done if you are dedicated and willing to learn the platform as well as study the features before you jump into live trading. Overall, Trade Ideas is truly one of the most effective day trading tools in the business and it will be hard for a competitor to overshadow it. Check out Trade Ideas today to take your day trading to the next level.
To read another great review, check out this M1 Finance review.
