This Trade Ideas review shows how the Trade Ideas stock screener gives the trader a constant stream of stock trading Ideas during the day. Including a review of Trade Ideas’ AI Holly. ‘Trade Ideas Channel Bars’ are also reviewed with screenshots that can be enlarged.
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Trade Ideas Pro Complete Review
Trade Ideas has many built-in strategies and scans, which you can further modify to suit your particular needs. This can all be done without the need to write any code, unless you want to create your own unique formulas.
I have worked with some of the earlier stock screening software from the late 1980’s onwards, where programming was required. It makes a nice change to be able to quickly set up screens, which would have taken hours or days of programming & testing in the past.
As traders, we all need to focus on idea generation, because without stock picks there are no profits. In addition, the shorter term your trading time horizon, the more ideas you need to generate. Trade Ideas is the perfect tool for that, because it will generate ideas from premarket to after hours, and any time in-between.
The software can be downloaded or accessed via a web browser.
It’s nice to have both options, as you can access Trade Ideas from different devices, at work, or on your travels. It makes a nice change to the old days of desktop only platforms. Although I do use the download version on a desktop, I travel a lot, and now I would never consider a platform that did not also offer a web version.
Trade Ideas Web Version
The web version is shown above, with the AI channel now also available. The rest of the review will show the desktop screenshots. You can click on the screenshots to see a larger version.
Trade Ideas Channel Bar Review
The Trade Ideas ‘Channel Bar’ nicely breaks down the various market segments into channels. This makes it easy to choose the market segment or play you are currently interested in, from earnings play to energy, or biotech to ETFs.
Trade Ideas Premarket Channel
Most active traders start their trading day with the Premarket movers. In fact, many day traders even specialize in premarket movers for their trading strategy.
Trade Ideas consists of ‘Top Lists’ and ‘Alerts’.
A ‘Top List’ contains stocks that match your screening criteria.
Alerts also give you a time stamp of the exact moment the stock met your criteria. They are extremely useful because they free you up to do other things rather than stare at a screen all day. The alerts will update continuously in real-time.
You can even combine alerts based on different strategies into one ‘Multi-Strategy Window’.
Trade Ideas Volume Channel
The volume channel will show you the big volume movers of the day.
Many people under-estimate volume as a useful indicator. Particularly traders who come to stocks from the Forex markets, where there isn’t much volume data. For me, volume gives me more confidence in a move, (unless it is climactic volume).
If you want more volume & Momentum based stock scans, there is also a ‘Surge channel’ (not shown).
Some of my favourite stock scans in the Surge channel include: ‘Most Upward Momentum Right Now‘ & ‘Explosive Daily Range‘.
Trade Ideas Gap Channel Review
I mentioned that many day traders specialized in premarket movers. Another area that many traders (not just day traders) specialize in is gapping stocks. If a stock gaps up/down by a big percentage, there could be a longer-term move on the cards.
Trade Ideas Trending Channel
Trend following is very popular, and rightly so in my opinion. More money is made in trending stocks/markets than in range bound markets. However, markets only trend about 30% of the time. That means the other 70% of the time the market can whipsaw us out of trades.
Those of you who are familiar with trend following will know there are bigger drawdowns. In addition, the win percentage is much lower. The profits come from a few big winners.
With these two big drawbacks of trend following, it is nice to have a ‘Trend Channel’ that focuses on trending stocks and ETFs.
Trade Ideas Active Trading Channel
Trade Ideas can be set up to suit any style of investor or trader. However, I believe it really shines for short term active traders. This is because one thing it does in abundance is generate trading opportunities.
Some of my favorite stock scans in this channel include ‘Biggest Pullbacks on Winners’, and ‘Most Unusual Daily movers’.
Trade Ideas Penny Movers Channel Review
Penny stocks are very popular with new young traders, because of their smaller trading accounts, and the potential of some big moves. This is understandable, we all have to start somewhere. However, many end up paying $140+ just for a chat room and some penny stock picks.
Trade Ideas has a FREE Live Trading Room, and along with the ‘Penny Movers Channel’, you can take control of your own penny stock picks and education. With the added bonus of broadening your horizons into higher priced quality stocks when you are ready.
Trade Ideas Biotech Channel
This is one of the most popular sectors and there are always opportunities (long or short). However, it is also one of the riskiest sectors. I would say more money could be made and lost in this sector than in any other, so thread carefully.
People all around the world are living longer, and the Biotech sector is going to be in focus for a long time.
Many biotech stocks with no earnings can still make big moves (in the short-term). The idea is not to believe the hype, and trade the moves, in and out quickly. (Note: Most late phase drug trials fail.)
I wouldn’t hold low priced, low quality stocks for the long term. Stocks need to have decent fundamentals if you are going to hold them for the long term.
Trade Ideas Fundamental Channel
If you like to have solid fundamentals behind your stocks, you will like this channel. It is a great place to find growth stocks with good earnings and revenue growth.
This channel is ideal if you are looking for stocks for the medium to long-term. Firstly, the better the fundamentals, the more confidence I have in holding a stock for a longer period. Secondly, growth stocks tend to keep growing for longer than people expect.
Trade Ideas Earnings Channel
This is another great channel for finding stocks for the medium to long-term. Pay close attention during earnings season. You can find some great stocks that can keep you busy until the next earnings.
Trade Ideas Social Media Channel Review
In this modern era of trading, social media now plays a big part. The problem is there is more rubbish out there than gold nuggets.
You have all heard of the risk/reward ratio in trading; well in social media, there is what I call a time/reward ratio. For me, the amount of my time spent searching (social media), and the return achieved, just doesn’t justify it.
If only there was some sort of software for this, saving me precious time. Wait, there is! The Trade Ideas Social Media channel makes it worthwhile to follow social mentions of stocks. If there are many people talking about a stock, there could be a good reason for it. In addition, if this is followed by high volume trading activity, it could certainly be worth investigating.
An excellent example taken from the social media channel above, can be seen clearly below.
My favourite social media scans are ‘Unusual Social Activity’, and ‘AI Suggested Social Bullish’. I have found a few gold nuggets amongst these, without wasting my time on social media/forums.
Trade Ideas AI Holly Channel Review
A premium subscription gives you access to Trade Ideas’ AI called Holly. Trade Ideas claim to have the only true Artificial Intelligence engine for the retail investor.
Like any true AI, Holly is always learning, working from a list of 35 base strategies, which are constantly optimized according to the current market conditions. Every day after the market close, the trading day is analysed. Every type of data is used to see how her strategies performance is affected and can be improved.
I also like the fact that a rolling 60 days of data is used. This is what I like to call ‘recent form’. Markets are always changing, moving from trending to range bound, from high to low volatility. A strategy can go in and out of favor at any time. Testing shows what is currently working in the markets.
Holly only chooses the strategies with a success rate above 60% and a 2:1 Profit Factor.
Every morning before the open, Holly produces 5-8 of the strategies that contain the greatest, statistically tested probability of identifying successful opportunities in the market and displays them in the AI Strategies Window.
As the market becomes more challenging, less strategies and trades are available. This is as it should be. Many people give back profits when they force trades. When you see that your AI is not throwing up trades, it is a sign that something is happening in the markets. it is time to sit tight and be disciplined. Alternatively, when there is an abundance of trades, we should pay close attention!
Below is the 6 month 2017 performance of the AI, Holly.
Trade Ideas Backtesting With Oddsmaker
As well as the AI, the premium subscription gives you access to Trade Ideas’ backtesting tool called Oddsmaker.
With Oddsmaker, you can back-test your trading strategies without the need for any programming knowledge. What’s more, your strategies can be tested and improved in a few minutes.
This is such a huge change from the programs I used back in the 1980’s, which took hours/days to program and test. Traders today don’t realize how technology has leveled the playing field between the retail trader and the professional institutional trader.
Great Customer Service, Training And Access To A Free Chat Room
In addition to all of the above, every subscriber receives a free 1-on-1 training session with a Trade Ideas expert trader, to become familiar with the software and its many possibilities.
I’m really impressed with the fact that they stay in touch with their subscribers, with access to a free chat room and provide daily/weekly webinars. There are also excellent webinars, videos and clear documentation to help with the learning process.
I also like to judge a company by its service, and can say their customer service is excellent. Any questions I had were answered quickly and completely. This clearly is a company which values their customers and intends to be around for a long time.
Many chat rooms charge more than the price for Trade Ideas, without access to software, where you can formulate your own stock picks. You are also stuck with their limited stock picks.
Why not take control of your own trading future with Trade Ideas, and you also get free access to their Live Trading Room.