DISCLOSURE: THIS POST MAY CONSTAIN AFFILIATE LINKS,MEANING I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. PLEASE READ FULL DISCLOSURE HERE
As a trader, you want to find trade ideas with a high probability to win easily and quickly.
Speed is key when it comes to trading and investing.
Because you normally have a very short opportunity window and you don’t want to miss that perfect opportunity to take the trade.
That’s why it’s essential to have powerful artificial intelligence trading software that can help you scan stocks and find what stocks to trade.
So, is Trade Ideas a good artificial intelligence trading software?
How exactly can you use Trade Ideas software and technology to improve your trading and profitability as a trader?
Lastly, is Trade Ideas right for you?
These are the questions that I will help you answer in this article, so you can make an informed decision when it comes to whether or not it’s worth investing in Trade Ideas
What Is Trade Ideas (and What Can It Do For You)?
Trade Ideas is an artificial intelligence trading software that was founded in 2002 to help traders, investors and hedge funds scan through the market to look for profitable trading opportunities quickly, so you can be the first to act.
Let’s face it.
One of the biggest challenges as a trader is to have to look through the massive amount of market data (i.e. stock prices, charts, transactions, volume, news, etc) and find profitable trade ideas to execute in a timely manner.
Today, there are over thousands of stocks in the US alone.
How is it going to be possible for you to look through every single one of the stocks during market hours?
What about stock research after market hours?
Even if you didn’t sleep at all, it would still be impossible to do it manually by yourself.
But, with artificial intelligence trading software, things are different.
It can watch each and every trade of every stock in the markets and notify you about profitable trade opportunities in real-time during market hours based on your pre-defined filtering requirements and also event trigger settings, so you can be the first to act.
For example, let’s say you are looking for potential trade opportunities to buy stocks that are about to break out of its 20 day trading range.
Trade Ideas is able to scan the ENTIRE market to help you filter stocks that meet your requirements and even send you a price alert, so you don’t miss out on any good trades.
Or let’s say you are looking for potential trade opportunities to short stocks that are going to make new highs but it has a high short float.
Trade Ideas can help you find such trade opportunities in real-time and update you continuously throughout the market hours.
Now, what if you don’t have your own proven trading strategy?
That’s is where Trade Ideas A.I. Technology comes in.
Trade Ideas has a machine learning Artificial Intelligence named Holly that looks at what happened in today’s market and then tests 70 proprietary algorithms after market close.
It looks at everything: long, short, cheap and expensive, fundamental, social, technical data, and everything volume-driven.
Then, it runs over a million trading scenarios overnight, and identify what is working in a down market or in an upmarket.
So, only the strategies with a success rate above 60% and a 2:1 Profit Factor are presented to you the following day, together with suggestions on exactly when to buy or short and when to exit.
How cool is that!
How To Use Trade Ideas To Trade Better
So, how do you use Trade Ideas to help you trade better?
Below are the most important tools inside Trade Ideas platforms that you will be using to help you find profitable trade ideas:
Top List Windows
So, what is a Top List Window?
What a top list window does is that it shows you all the stocks based on your pre-defined filters.
As a trader, you might want to trade stocks that are liquid and have a high trading volume, and also you might want to trade a stock that is within a specific price range (e.g. above $5 and below $70).
Of course, there are a lot of other filters that you can choose from, depending on your trading strategy and style.
So, once you’ve selected your filters, and then “Top List Window” will show you a list of stocks that satisfy your requirements.
In the “Top List Window”, you can also sort the data by columns such as price, volume today, and percentage change. ( by the way, you can customize the columns as well)
Lastly, Top List Window updates every 30 seconds, so you will always stay up to date with the market.
So, what is an Alert Window?
How is it different from the “Top List Window”?
Both of them allow you to set filters.
But, there are two key things that make the Alert Window different from the Top List Window.
For Alert Window, an event must occur for the stocks to show up in the window.
For example, Let’s say you want to see what stocks have made new intra-day high, you can create an alert for this event.
So, only stocks that meet the criteria for this alert (i.e. have made new intra-day high) as well as satisfied all your pre-defined filters will show up in the Alert Window.
There are a large number of alert events that you can choose from inside Trade Ideas Platforms.
Here are just a few examples:
- % down for the day
- % up for the day
- 75% pullback from high
- 25% pullback from high
- crossed above 200 day moving average
- crossed below 200 day moving average
- Double top
- Double bottom
Another difference is that Alert Window has time stamps and price stamps which shows you the exact time when the event happened.
It also allows you to view the data in multiple time frames.
For example, it can show you all the events that satisfy both your alerts and filters in real-time, today, yesterday and other time-frames.
In short, “Alert” is a tool for designing and monitoring a specific strategy. And it’s chronologically sorted, event-based notification.
There are also “Channel Bars” which you see on the left hand side of the screenshots above.
So, what are “Channel Bars”?
Channel Bars are a menu for selecting layouts featuring Trade Ideas tools all of which are designed around various market themes such as Premarket, After Hours, Social, Crypto, Volume, and more.
For example, “Social Media” Channel Bar will show you a layout that features all the tools used to track and monitor interesting events based on the frequency of social media mentions and unusual mention activity.
Let’s say you want to know what stocks are getting mentioned at least 5 times more than usual on social media.
Then, you can set the social media mention filter, and you will see a list of stocks that meet your filter requirements.
Let’s say you want to know if there is anything unusual happening in pre-market that might present a good trading opportunity for you.
What you can do is to set the appropriate alerts and filters and find a list of stocks that meet your criteria.
For example, you might want to know if there are any stocks that gap up or gap down from yesterday’s close in pre-market.
Of course, you can also set additional alerts and filters to further narrow down your list of stocks to watch.
With this tool, you can make better trade decisions quickly and never miss a good trade.
The cool thing about Trade Ideas is that you can save your custom layouts and your alerts and filters, so the next time you don’t have to build everything from scratch.
Holly is the name of Trade Ideas Artificial Intelligence.
It consists of over 70 proprietary algorithms utilizing Trade Ideas’ uniquely derived data sets.
Holly performs over a million simulated trades across the 70 algorithms overnight before the market open the next day.
These simulations test values of key indicators as well as trading plan variables to identify trading probabilities.
Then, Holly applies 15 criteria to yield five to eight of the algorithms with the highest win rate and displays them in the AI Strategies Window every day before the market open.
What’s more, it also shows you exactly when to enter and when to exit.
Basically, it gives you a complete trading plan.
The best part about using A.I. is that it will probably make better trades than you because it manages trades without any emotions.
So, how do you use Trade Ideas Artificial Intelligence?
You can either follow the trade suggestions made by Holly the A.I. and executes the trades youself or you can have it Holly the A.I. to trade for you via Brokerage Plus.
Brokerage Plus is an auto- trading module within Trade Ideas enabling automatic, manual, and semi-automatic portfolio management and trading with your brokers such as Interactive Brokers.
Try Trade Ideas Demo for Free Now.
Odds Maker Window
OddsMaker is a back-testing and simulated trading platform that requires no programming or scripting knowledge and provides the following key features:
- Strategy visualization and analysis
- Performance simulation
- Equity curve for back-tested strategy
- Summary view customization
- Strategy comparisons
With Odds Maker, Trade Ideas make it very easy to backtest all your new trading strategies and also give you immediate visualization and analysis of your strategy’s simulated performance.
Upon running the OddsMaker, you will see your equity curve for the backtested strategy.
You can also customize the summary view to instantly see how your starting equity, share size, commission, and slippage will impact your trading.
For a trader, charting is a very important tool to help you analyze a stock using technical analysis.
With Trade Ideas Chart Windows, you can visually confirm an alert instantly without leaving the Trade Ideas Pro platform and relying on third-party charting software.
Full Quote Window
Before you enter a trade, you might also want to check the fundamental data of the stock.
That’s what “Full Stock Quote Window” is for.
The Trade Ideas full stock quote windows let you see all of the fundamental data relevant to a stock’s price, including quick visual indicators to see where the stock is in its range for the last hour, trading week, and last 52 weeks.
Is Trade Ideas Worth It?
If you are a serious trader with your own profitable trading strategy, it’s worth investing in a good stock scanner that can help you find good and timely trade opportunities and make better trade decisions.
Just the amount of time it can help you save and the number of profitable trade opportunities that you would otherwise have missed will make Trade Ideas worth every penny of your investment.
On top of that, Trade Ideas is more than just a stock scanner.
You can use Trade Ideas’ advanced backtesting tools to test any new trading strategies that you have.
But if you are just a beginner trader, Trader Ideas might not be a good investment for the time being because it’s not cheap.
Also, there is quite a steep learning curve to get yourself familiar with its trading software.
You might even feel a bit overwhelming at the beginning especially if you are a new trader.
So, if you are only looking at stock scanning software, there are other much cheaper alternatives such as FinViz.
Having said that, if you don’t have your own trading strategy and want to take advantage of Trade Ideas’ Artificial Intelligence Trading software to help you do automatic trading, you can consider giving it a try.
Try Trade Ideas Demo for Free Now.
How Much Does Trade Ideas Cost?
Trade Ideas is not free, but they offer a demo where you can try some of the most powerful tools for free.
- Trade Ideas Premium
- Trade Ideas Standard
Try Trade Ideas Demo for Free Now.