Are you a day trader hoping to get your hands on the best stock scanner to help you make informed decisions about your investments?
If so, you’re reading the right blog that can arm you with that information. You might have come across a stock scanner called Trade Ideas but didn’t quite get all it entails.
In this blog post, we will closely examine Trade Ideas, one of the most popular stock scanners on the market.
We’ll explore what it offers, how it works, its pros and cons, and whether it is the best stock scanner available or overhyped.
Well, I don’t plan on taking your entire day, so let’s get on with our Trade Ideas review.
What Is Trade Ideas?
Trade Ideas is a powerful stock scanner that enables traders to identify real-time trading opportunities and react quickly. It offers sophisticated scanning algorithms and access to prebuilt scans to help you find the best stocks and ETFs to trade.
With Trade Ideas, you can monitor and analyze market data in real-time, apply custom filters, create customized alerts and hybrid versions of strategies and stay informed of any changes in the stock market.
With its intuitive user interface and advanced features, Trade Ideas makes it easy for traders to get up and running quickly.
Whether you are a novice or a seasoned professional, Trade Ideas has the tools to help you succeed in the stock market.
Trade Ideas Features
What can it offer? That’s one of the questions that would have crossed your mind by now. However, trade ideas offer some decent features for traders, which might be just what you need to level up your day trading game.
Feature #1: Holly AI
Holly AI is the artificial intelligence feature of Trade Ideas. It scans through a comprehensive list of stocks using pre-set trading strategies to conduct real trades on the user’s behalf. This feature enables users to have their trading decisions automated and be able to invest without manual intervention. Holly AI requires no programming experience, so even beginners can benefit from this great tool.
Feature #2: Prebuilt Stock Scans
Trade Ideas features prebuilt scans to help users get started quickly. Users can simply set up a few configurations and begin scanning immediately. These scans enable users to discover great trading opportunities with minimal effort and time. The prebuilt stock scans also help users to keep track of their investments and the stock market in general.
Feature #3: The Oddsmaker
Premium subscribers have access to the Oddsmaker Tool, which allows them to back-test their strategies and have the probabilities quantified visually. This lets traders gain more insights into their strategy before executing a trade and helps them make more informed decisions.
Feature #4: Brokerage Plus
With it, users can automatically define their day trading strategies and trade using real-time data. This feature helps traders make smarter trades with less risk by allowing them to automate their trading process.
Feature #5: Charts
Depending on the premium subscription, users can have either 10 or 20 simultaneous charts. The charts are pulled up directly onto the platform, and they can add price alerts directly onto the charts as well. This feature helps traders identify trends and make better decisions while trading.
Trade Ideas Pricing
Trade Ideas offers two straightforward subscription plans that are worth every cent. Both plans are offered as a monthly or annual subscription, allowing you to decide which works best for your budget.
The standard plan costs $84/month ($999/yearly) and includes all the essential scanning tools, including the built-in indicators and Channel bar that you can customize with your preferred settings. They also include charts, top lists and alerts. All real-time data is included, as well.
The premium plan costs $167/month ($1,999/yearly). This plan gives you access to all the same features plus technical charting tools, 20 charts, 20 price alerts, AI robot-advisor Holly Build and Back-test any Trade Idea, Risk Assessment and Brokerage Plus.
With so many features and an affordable price, Trade Ideas is an ideal choice for traders looking to increase their chances of success in the stock market.
What Is This Trading Tool Best For?
Trade Ideas is ideal for intra-day traders who trade during pre-market, post-market and normal market hours.
Swing traders will also benefit from using this tool because it will provide good ideas for short-term swings if they set their time-frame parameters to longer.
Finally, momentum and chart-based traders will have plenty of ideas to explore with this stock scanner.
However, it is essential to have a solid trading methodology in place and use the scanner only as an idea generator. Consider only the ideas that fit your style to avoid spreading yourself too thin and too many alerts.
With Trade Ideas, you have access to a wide range of ideas that can help you identify potential trading opportunities.
Trade Ideas Pros and Cons
PROs
- Trade Ideas has established itself as the premier stock screener on the market. Its artificial intelligence-driven strategies allow traders to maximize their trade performance.
- Trade Ideas provides ideas all day long – from pre-market to post-market.
- To ensure traders make the best decisions, Trade Ideas provides a free moderated chat room where users can share and discuss trading ideas.
- Additionally, plenty of training videos and tutorials are available to help users get the most out of their experience.
- For those looking to customize their strategies, Trade Ideas also offers a drag-and-drop integration system that allows traders to back-test strategies easily.
CONs
- The paid plans are expensive
- Limited chart indicators
- Its chart could use some more indicators
Trade Ideas Review Bottom Line
Trade Ideas is an excellent choice for those who want to maximize their gains in the stock market. It’s one of the most comprehensive scanners available and provides a wealth of information that can help you make smarter trading decisions.
On the other hand, beginners might need help getting used to the tools. However, it’s worth subscribing if you’re willing to study the platform and learn about the features before live trading.
Nonetheless, another great alternative to Trade ideas is Trendspider. You can learn more about it from our Trendspider review.
With Trade Ideas, you can find the most profitable stocks and have greater confidence in your trades. Click here to level up your game using Trade Ideas now.
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