Trade Ideas Review

Our Take on Trade Ideas

The Basic plan is the best starting point if stock screening is your preference (over 500 filters and trade alert types are available). You also get access to charts, paper trading, different pre-defined scanners, the formula editor, and more. The more expensive Premium plan is an option if you need AI-market scans, backtesting, and in-app trading. My recommendation remains to use the installable Trade Ideas software if you want to use all features and functionalities at maximum capacity. For quick market scans, charting, news, and insights, you can also use the web version.

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About Trade Ideas

Trade Ideas is at its core a stock scanner for U.S.-listed stocks. That’s how they have grown in the past 20 years and where their main strengths are. New features like automated trading and AI trade alerts have been added recently and make Trade Ideas an even more powerful trading tool than ever before. In this Trade Ideas review, we’ll first go over the basic functionalities, and then cover advanced features that give Trade Ideas a unique selling proposition vs. their competitors.

Stock Scanner

The Trade Ideas stock scanner is the most powerful part of the tool and the best for day traders. The scanner comes with pre-defined scanner layouts but can be configured in a tremendous way. Over 500 filters and trade alert types are available. You can scan for new highs, Fibonacci retracements, candlestick patterns, opening gaps, and much more.

All of us have integrated stock screeners in our trading platforms. Those are nice to have, but do you get really something out of it? As a day trader, likely not that much. That’s why Trade Ideas is so favorable. You can scan for nearly everything you can think of. Instead of writing #C or Phyton code, you can simply select the filter criteria and select the values you want. Do you only want to see stocks gapping up by a minimum of 10% with a minimum pre-market trading volume of 100,000 shares? With Trade Ideas you can do it and much more.

One thing you have to know before making the purchase is that you solely subscribe to a tool with U.S. stocks. You can’t scan for European or Asian markets. But as long as you stay on Nasdaq, NYSE, or OTC stocks, you’ll be happy with what you get. A side benefit is that all stock exchange costs are included in the subscription fee. So, while competitors charge additional fees for market data, with Trade Ideas you have all in one price.

Advanced Charting

Trade Ideas charts are connected with the scanner results. This way, you can quickly flip through the stocks shown in the scanner and then decide what to do. The available time frames start at one minute and the most important trading indicators can be applied to the chart (volume, VWAP, etc.). You can make annotations on the chart and all prices are in real-time.

Training and Education

Training and education is something where Trade Ideas are strong. You have access to a huge guide with helpful tips for each functionality. You can also watch YouTube videos for relevant features, join live trading sessions in their trading room, or attend webinars.

Basic vs. Premium Plan

Trade Ideas Basic has everything a trader needs, from fast stock screening with multiple configurable alerts and filters, to charting tools for active traders. If you have a bigger budet and want to add features like AI, brokerage connections and the Trade Waves feature, you can choose the more expensive Premium Plan. Below you find some of the features that are available with the Premium Plan.

Artificial Intelligence

Trade Ideas had its integrated AI features long before AI really became a thing with ChatGPT and Co. In 2016, Trade Ideas launched its first AI named HOLLY and developed it further to where the AI system is today.

The AI automatically picks trade entries and exits based on probabilities of which work the best. A clear benefit is that the exact trade entry prices and exit values are tracked and monitored. So, even if you start the platform later, you can review the AI trades of the day or even days before.

The newest feature even automatically enters positions in stocks with high potential and exits the trade not on specific exit price levels, but instead based on real-time performance metrics.

TradeWaves

The Trade Ideas TradeWaves indicator indicates buy and sell signals on the chart. You see colored bands that are based on exponential moving average indicators (EMA). This indicator works best in trending markets. You can apply this AI-feature to all time frames directly on your Trade Ideas charts.

Streaming Alerts

The integrated steaming alerts can be used in the Standard version, or with the AI-enhanced version. What you typically do is open a new stream alert window, and select what type of alerts you want to screen and what columns you want to see in the alert window (ticker, price, volume, relative volume, and much more). You can combine various strategies and filters, or use the pre-configured streaming alert windows.

Direct Trade Execution

The built-in trade execution is another benefit of the Trade Ideas platform. It’s not really standard that you can connect to your broker to automatically transmit the buy and sell orders, but with Trade Ideas you can. First, you simply connect your trading account with Trade Ideas, and then you can either trade from the chart (buy and sell buttons), use a little trading DOM, or let the trade alerts trigger the buy and sell orders in your trading platform.

Simulated Trading & Backtesting

The simulated trading functionality of Trade Ideas amazes, especially beginners. You can trade the way you would with real money by using the integrated simulator. Other companies charge extra for trading simulators, while with Trade Ideas, it’s included in the price.

This way, you can test trading strategies – your own, pre-configured ones, or AI trade alerts – under real market conditions.

And what could be better than testing trading strategies in a trade simulator? Right, backtesting strategies first for their efficiency. And you guessed it, Trade Ideas also has an integrated backtesting module, called the OddsMaker. Here you can test with a mouse click how a strategy, trade alert concept, or trading idea would have worked. You can optimize your settings and dig deeper into trading strategy development.

Plans, Features, Costs

Trade Ideas offers two subscription plans, the Standard Plan and the Premium Plan, where both are available as monthly and annual subscriptions.

• The Basic Plan has everything you need for stock screening and scanning. The real-time data is included in the price of $127 per month, or $1,068 per year.
• The Premium Plan additionally comes with the 1st and 2nd Gen AI signals, backtesting, smart risk levels, paper trading, and online broker connections. The price of Premium is $254 per month or $2,136 per year.
• The Free Plan let’s you take a look at the web-based platform with delayed data.

Who Is Trade Ideas Good For?

Trade Ideas is worth it if you are a day trader looking for fast and reliable stock scanner results. No other tool is that fast combined with such a wide range of scanner filters and alert types. AI traders will also appreciate the artificial intelligence-based trading signals and connections to broker platforms. Investors will more likely stay away because of the minimalist implementation of company fundamentals. Also, technical analysis is not the main purpose of the platform.

Trade Ideas Add-Ons

Trade Ideas has two Add-Ons: AVWAP and GoNoGo and both costs an extra of $49 per month and require an active subscription to Trade Ideas Basic or Trade Ideas Premium.