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The Trade Ideas stock scanner is designed for all traders regardless of their experience. It is an all-inclusive tool, which carries out automated real-time analysis of charts under selected parameters. Trade Ideas detailed data on stock prices, identifies trends and patterns, and provides signals. This artificial intelligence is constantly analyzing the market and determining the best trade entry points, taking into account chart retrospection, statistical probabilities of the emergence of various patterns, and the trader’s risk tolerance. Trade Ideas AI review shows its exclusive effectiveness in intraday trading prediction. these are by far not all capabilities of the service. In this article, Traders Union discusses the full list of available features in detail and explains how to start using the platform.
What is Trade Ideas?
The Trade Ideas stock scanner was developed in 2003 by a group of financial experts who literally pioneered automated intraday trading in the 1990s. Today, the scanner is the property of Interactive Brokers, one of the largest U.S. brokers and the world leader by the number of trades with average daily income. The company is headquartered in Greenwich, Connecticut.
Trade Ideas uses cloud technologies, machine learning and artificial intelligence to analyze stock charts and alert users about abnormal price action in accordance with selected presets. For you to better understand what it means, Trade Ideas can be compared to card counting in a Las Vegas casino, which undoubtedly gives a player a serious edge. nlike card counting, however, the scanner is entirely legal.
At first glance, the Trade Ideas subscription fee seems rather high: $84 or $167 per month (including the annual discount), plus additional paid features. But when you take a closer look, it becomes obvious that, with proper approach, every dollar invested in access to the scanner pays off completely. The service evolves actively, adding latest solutions. For example, Trade Ideas recently introduced alert streaming, automated trading, and such a unique feature as a trading simulator for signal testing.
However, a comprehensive review of Trade Ideas, including user feedback, shows that this is not the main benefit of the scanner. It can give you a clear trading strategy with particular trade entry points, based on the analysis of thousands of probabilities, huge arrays of statistical data, and mathematical predictions. Even a group of several dozen financial experts with modern software would not be able to do this.
The Trade Ideas scanner is a fully autonomous and self-reliant resource. A user does not need other sources of information. He doesn't spend time analyzing charts by himself or studying news or financial calendars. Trade Ideas makes it unnecessary for beginners to use additional channels of information and other analytical tools. A trader sets a goal, and the artificial intelligence finds the shortest path to achieving it.
Trade Ideas Features
Trade Ideas is quite expensive. In fact, it’s more expensive than other similar tools. We say “similar” because by the number of features and their types this service makes Trade Ideas one of a kind. There is no other stock scanner, which uses machine learning and artificial intelligence to process information in the cloud and provide it to the user in a chart and interpretation of his choice. Notably,there is a PC app that can be downloaded from the Trade Ideas official website. The service has a browser version but does not have a mobile version, which is, in a way, an undoubted drawback.
One of the key benefits of Trade Ideas is its incredible performance when it comes to providing traders with an uninterrupted stream of strategies during a trading day. On the other hand, this tool is flexible enough for traders to be able to use statistical information and alerts to develop and apply their own strategies, constantly evaluating their effectiveness. However, there is no reason why you should not combining your own solutions with ideas provided by the scanner. For that, you do not need to know programming languages or be very experienced in trading.
Channel Bar
This is an interesting feature, which Trade Ideas obviously borrowed from live streaming services that also have thematic channels. On the left side of the app’s home page, there are links to market environments. A click on the link changes the appearance of the screen to fully show the selected environment. The channels are devoted to cryptocurrencies and NFTs, stocks of top technology companies, leaders of power industry, biotechnologies, ideas for swing strategies, etc..
Trade Ideas Additional Features
We have discussed basic capabilities that are mostly based on the Holly A.I. and real-time alert streaming above. However, Trade Ideas review shows that this is a multi-purpose platform aiming to improve profitability of trading in the stock market and offering a wide variety of tools that can be used by traders with any trading style and individual preferences. Here are some other capabilities of the Trade Ideas scanner:
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Outage notifications
Sometimes the servers of an exchange get overloaded. When it happens, Trade Ideas immediately warns you about an outage with a special notification (its parameters are adjustable). This is important because success in the stock market is achieved by those who are the first to find out about crucially important events, including technical problems.
Charts
Perhaps, this is one of the few truly typical features of Trade Ideas. The scanner offers all types of charts with a full set of technical analysis tools, which you don’t need to download separately. These are indicators, trendlines, patterns, etc.
Notifications by email
sers can set any notification to also be sent to their email address. Such notifications are delivered almost instantly, related both to signals and strategies. You can use typical notifications instead of going deep into customization. But if you need an individual approach, you can refer to an expert who will adapt notifications to your requirements.
Trade Ideas filters
This is actually one of the key tools. You don’t need all the analytics that the scanner can provide. Otherwise, you risk overloading your perception, which will get in the way of making informed decisions. That is why for all types of the scanner’s actions you can use filters, i.e., limits under selected parameters. Comprehensive comparison shows that out of all FinTech platforms Trade Ideas has the most filters, and they can be applied to any window. The list of filters has its own search engine so that you can quickly find what you need.
Other Things You Need to Know about Trade Ideas
Review of the Trade Ideas scanner shows that, apart from the main features, additional options and registration rules, you should consider several special capabilities of the service. In the following, we discuss the key ones, which novices often miss.
What is a discount code and where do you get one?
A discount code allows you to buy a subscription at a reduced price. The code is valid for a limited time. You can get it from an official partner of Trade Ideas. If you don’t know such partners, use a search engine or profile forums. The code can be used only once: during registration, after you choose a plan. Just enter the code in the corresponding field and the discount will be applied automatically.
Premium subscription test drive
Five times a year, the platform conducts a test drive. During this event, new users can register on the Trade Ideas website and buy the Premium subscription for $11.11 for two weeks. This is a unique opportunity to discover all the features of the service at the lowest possible price. To find out when the next test drive is, keep track of the posts on the home page of the Trade Ideas website and in the blog.
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Education with Trade Ideas
The platform provides an interactive training class, which consists of several sections with educational materials. The first section is a short guide on the scanner’s features. The second section explains how to register, download the app, and start working. The third section is online support that holds daily sessions.
Next section is a free trading room hosted by a professional financial expert named Barrie. He trades online and tells viewers how to properly use various strategies. The education page also has a link to a section with video lessons for different levels of traders. Here you can find detailed documentation on how the platform works and sign up for a next webinar.
In addition, Trade Ideas offers individual classes with financial experts and active traders. Such classes cost $129 per hour. Note that the service has a YouTube channel with numerous video materials for novice and experienced traders, as well as for analysts.
