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Is StocksToTrade a good platform?
Can it really help you make money from day trading?
Is it really worth it to invest in StocksToTrade?
Are there any other better alternatives to StocksToTrade?
In this in-depth review, I am going to share with you all the pros and cons of StocksToTrade, so that you won’t waste your time and money on a trading platform.
StocksToTrade is a stock trading software that is designed with penny stock traders in mind.
Tim Sykes, a famous (or should I say infamous) penny stock trader, helped develop StocksToTrade. I also invested in it. I wanted a tool to help me search specifically for the low-pri
Inside the stock trading software, you can find stock scanner, screener, charting, level 2 data and social media and news feed.
You can also connect your brokers to trade directly through StocksToTrade.
So, is StocksToTrade stock scanner good at finding you profitable trade ideas?
Can you really make money from trading penny stocks using StocksToTrade?
Let’s take a in-depth look at all the StocksToTrade features.
StocksToTrade has a built-in scanner that scans the market for Biggest $ Gainers or Biggest % Gainers that are under $20, under $10, under $5 and under $1.
This basic scanner was designed based on a set of pre-set criteria used by Timothy Sykes to find potential penny stock trading opportunities.
If you look at scanning filters, it’s really nothing special.
You can easily build the same scans using any one of the stock scanners in the market.
StocksToTrade Screener +
With StocksToTrade Screener +, you can build your own stock scans by combining different criteria such as:
- Price data
- Volume data
- Technical indicators
- Catalyst (e.g. news, earnings, filing)
Then, you can select the appropriate parameters (e.g. <, >, =, etc) to build your scan.
Personally, I don’t like the visual representation of the scanning criteria.
It is just too colorful and distracting.
I would prefer something that is simple and clean.
Anyway, it’s just my personal preference.
Once you have built your scan, you need to click “Run” at the bottom right corner to generate the list of stocks that fit your criteria.
The scanner will run in real time, but you have the option of pausing it at any time.
So, is this scanner good?
It has a decent amount of filters for you to build your own scans, but other stock scanners like Trade Ideas provide much more options to help you find your favorite trade setups.
On top of that, I don’t like the fact that each scan will only be opened in a separate tab inside StocksToTrade.
For day traders, it’s ideal that you have all your scans in front of you in one window, so you don’t miss any good trading opportunities.
So, what is StocksToTrade Oracle?
And how does it work?
During pre-market hours, Oracle scans the market and finds the most volatile and active stocks using their proprietary algorithm which is based on numerous technical factors such as the Fibonacci indicator, VWAP, and support and resistance.
Then, it will further filter down the list to 15 stocks during market open with the most potential to break through support and resistance lines.
For each of these 15 stocks, you will get the directional signal (i.e. both short and long) with a pre-determined entry price, possible resistance level, and maximum move in the up or down direction.
As you can see below, the “Long” signal is colored green while the “Short” signal is colored red.
On the chart, it will also map out all the support and resistance levels for you to help you manage your trades.
Although it gives you the buy or sell signal, it’s still YOUR trading skill that you have to count on to manage your positions and risks.
There’s no hand-holding all the way from the entry to the exit of a trade position.
If you take a trade based on the signal and it goes against you, how are you going to manage the trade?
Take loss early?
Or wait for the trade to possibly turn around later? ( BUT you might suffer an even bigger loss if that does not happen)
Lastly, I would love to see some proof of the past performance of these so-called “directional trade alerts”.
However, I’ve not found any on its website or anywhere else online.
StocksToTrade News, Level 2 Data & Broker Integration
Inside StocksToTrade, you will also see a widget that displays currently available News, SEC Filings, Events, Chat, Profile, Key Statistics, Order, Related Companies, Twitter Feed, and Ratings for the current stock you are viewing.
There is also real-time information about the quotations of individual market makers and the buy and sell price of a stock.
Currently, StocksToTrade supports integration with the following brokers:
- Interactive Brokers
- Tradier Brokerage
If you have a brokerage account with any one of the brokers mentioned above, you can trade directly through StocksToTrade.
So, how much does StocksToTrade cost?
There are two pricing plans:
- $179.95 Monthly Plan
- $1899.50 Yearly Plan (i.e. $158.25/month)
For both plans, you get unlimited access to all the StocksToTrade features.
The only difference between these two plans is that you get to save $250 if you pay in full for the one-year subscription.
Now the question becomes: is it expensive compared to its competitors?
For Trade Ideas, it offers two pricing plans:
- Trade Ideas Standard: $118/month (or $84/month if paid annually)
- Trade Ideas Premium: $228/month (or $167/month if paid annually)
As you can see, Trade Ideas Standard is at least 30% cheaper than StocksToTrade Monthly Plan while it has a much more powerful real-time stock scanner and a more robust and reliable platform.
Trade Ideas Premium is only for traders who want to use the Trade Ideas A.I., auto-trading, and its back-testing tools.
StocksToTrade Users’ Online Review
How about StocksToTrade’s online reviews?
One of the most common issues or complaints about StocksToTrade is that its platform is not stable and crashes a lot.
On top of that, its customer service is also not good.
Below is just one of the negative online reviews from TrustPilot.
I am not sure whether the platform issues have been resolved or not, but I think platform reliability is one of the most important things you have to consider when it comes to choosing a trading platform.
You could be stuck with a huge loss because the platform freezes and you didn’t have a chance to cut your losses short in time.
When you take everything into account, I personally think that StocksToTrade is overpriced. There are much better and cheaper stock scanners such as Trade Ideas.