Trade Ideas Review: Next-Level Stock Scanner with Artificial Intelligence (2024)

Overview

Trade Ideas’ artificial intelligence software can give you a head start in making better stock trading decisions. By sifting through massive amounts of market data, it helps you find the most trade worthy stocks each trading day. This platform provides a powerful suite of tools that produces outstanding stock screening results and revealing trade analysis, resulting in better trade strategies.

While this is a tool that’s suitable for a range of trading styles, many favor Trade Ideas for day trading as it is one of the best trading idea generators around.

This in-depth Trade Ideas review will provide the information you need to determine whether this popular software program can really help you to make better trades.

Included with a Trade Ideas subscription is a browser-based web version of the platform as well as a downloadable desktop version which is called Trade Ideas Pro. Built-in to the software are a wide variety of the best stock screeners, alerts, charts, indicators, and artificial intelligence capabilities. This platform provides all of the powerful tools active traders need to make the best trade decisions possible. Also, if you’re not quite ready for the big leagues, you can use Trade Ideas’ simulated trading functionality. This allows you to paper trade stocks using Interactive Broker’s trading platform, providing you with a risk-free way to use Trade Ideas’ advanced tools to test your strategies and develop your trading skills.

Trade Ideas members also receive outstanding support and there are daily support sessions and training videos to help you get the most out of the software.

The Holly AI package is Trade Ideas’ star attraction. In an evening, it automatically performs more scans than any trader could manually do in a week. Using a large combination of different algorithms over a million different trading scenarios, the AI function uses statistical analysis to review trade ideas and provide you with the most probable trade outcomes.

Every night, Holly runs a rigorous competition between a set of 35 base strategies and it picks the winning strategy by reviewing over a million trades. It is very much like the NFL combines, which is why they refer to it as the Quantitative Combine. To verify the data, the process is repeated. Holly only displays the trading strategies that have a success rate of more than 60% and a 2:1 profit factor.

Trade Ideas’ AI feature comes in three versions: Holly Grail, Holly 2.0, and Holly NEO. Holly Grail is the original version. It ran for a few years before transforming into Holly 2.0. This spin-off runs on the same engine but its strategy appeals to more aggressive traders and speculators. Holly Neo is very different from the earlier versions. In fact, it’s still a work in progress. The latest version has graphically-rich indicators that denote each trade with stops, profit targets, as well as entry and exit suggestions.

To top it off, Trade Ideas’ artificial intelligence offers some great bonuses. Firstly, all three Holly versions can run at the same time in individual windows and the different algorithms can give you a unique perspective on potential trades. Also, the AI-driven OddsMaker allows you to backtest your trading strategies by using the price and date data points from the alert window. You can evaluate your trading strategy using up to a year of historical data.

If this all sounds like it’s a bit complicated, don’t worry. Trade Ideas makes navigating the platform very easy through the Channel Bar. With a design that looks similar to Netflix’s channel column, the Trade Ideas Channel Bar allows traders to choose from a variety of pre-configured layouts.

Some of the pre-configured channels are:

• Social Media
• 3 versions of Holly AI (Holly Grail, Holly 2.0, and Holly Neo)
• Stocks I Like (Favorites)
• Blockchain & Cryptocurrency
• Premarket
• Short Squeezes
• Trade the Gap

With Trade Ideas’ Channel Bar, you can also create and save your own custom channel layouts. Whether you’re day trading, swing trading, or making a long-term investment, it’s nice to have fast access to all of the most important information in one convenient place.

Within each channel, the following windows populate the main part of the screen:

• Top list windows: Multi-variant, color-assisted sorting of category top performers
• RSI windows: Relative strength index tracks the current and historical strength of a stock or market according to its closing prices
• Full Quote or S windows: Stock quote windows give you a full breakdown of a stock’s fundamental data and its movement over the past hour, week, or previous 52 weeks
• Charts: Provide you with visual alerts without having to leave the TI platform
• Alert windows: Streaming, real-time trading activity as it happens in multiple time frames

Traders of all kinds will appreciate the assortment of windows that Trade Ideas provides. Windows are a nice easy way to be able to focus on multiple things at once.

Trade Ideas Pro is a great program for use on your home or office computer. However, many traders often need a way to manage their positions while they’re away from the desktop. Trade-Ideas’ web version is a good solution to this problem and it’s also a nice feature for Mac users who cannot download the Windows-based desktop version of the software.

With the Trade Ideas web version, you can access Trade Ideas anywhere there’s an internet connection. Unlike many other web versions of trading software, the Trade Ideas web platform is just as powerful as the downloadable Trade Ideas Pro app. One drawback, however, is you can’t save custom layouts on the web version. All things considered, we feel that Trade-Ideas’ web version is a great option for those times when you’re away from your PC and also for iOS users.

For an in-depth view of a stock’s details, you can check out the company’s Stocks Like This page. This area provides a ton of details and all you need to do is enter a stock symbol, a date, start time, and duration in minutes. Once you click submit, an entire list of alerts will be displayed on the page.

From this huge output of data, you can put an alert on any category. For example, you can set price alerts for a new high, a new high asking price, or a stock that’s breaking through its resistance point. This page may seem a bit confusing for some, but it’s useful for traders who want to do a deep dive into a particular stock. If you’re confused by any of it, you can get more information by reading Trade Ideas’ documentation.

As most stock traders know, market research is a huge part of the game but you won’t see real results until you actually execute a trade. The Trade Ideas platform is much more than a powerful stock scanner and AI strategy builder — with Brokerage Plus, it turns well-researched strategies into executable trades.

Brokerage Plus is an auto-trading module within the Trade Ideas platform. By using it, you can review trade ideas on your own and then set up automatic, manual, or semi-automatic portfolio management. This is a wonderful option for people who want to be able to take a trade without being physically involved. You can preset your trade according to a number of parameters and the software takes care of the rest — something that’s really convenient, especially for day trading. A day trader has a lot to monitor when the market is open, so it’s great when something can be automated.

If you’re uncomfortable with the fully automatic setting, you can use the manual or semi-automatic option until you build some confidence in the system and are ready to take the next step.

This automation feature is available with every Trade Ideas subscription plan.

In this section of our Trade Ideas review, we’re not going to talk about the actual trading platform at all. Rather, we want to highlight the excellent collection of training resources that the company has created for traders. Included in Trade Ideas’ training resources are helpful instructional videos, highly-detailed documentation, and a full-blown training program design help you get the most benefit out of your membership.

Trade Ideas holds daily live training sessions at noon EST every weekday. TI University also features a full library of tutorial videos.

Lastly, you can even book a one-on-one training session with one of Trade Ideas’ expert instructors. These sessions cost $99 per hour and can be booked in one-hour increments.

Have you tried Trade Ideas before? If so, please let other traders know what you think about it.

The Standard Plan costs $1,068 annually or $118 per month ($1416 per year). The plan includes:

• Simulated training
• 500 price alerts
• The ability to manage your portfolio in Brokerage Plus
• Trade Strategies
• Live Trading Room hosted by Barrie Einarson

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*QUESTIONS OR COMMENTS?Do you have any specific questions or comments about Trade Ideas that you'd like to mention? Think there's something important that we left out of our review or that needs to be mentioned for the benefit of others? Comment below and let us know!