A few years ago, the art of buying and selling stocks was something that only a few could master. It was complicated and time-consuming. But times have since changed and with the entry of platforms such as Trade Ideas (TI), there are no limits to what one can achieve with a simple click of the mouse button. With TI, you don’t have to spend hours or even days researching the best stocks to trade. Their artificial intelligence (AI) systems are designed to do all that for you. So, the only job you need to do is filter out the ideas that make sense to you and dive right into the market.
The Background Information of Trade Ideas
Trade Ideas was started in 2002 initially emerging as part of a venture-capital-financed entity. Apparently, the company was born out of the need to build trading technology meant to help hedge fund managers. Eventually, the idea grew and with the advancements made in modern technology so far, TI has been able to expand its presence by creating a platform where professional traders and learners alike can jump on board and grow their portfolios.
Today, almost two decades after its establishment, this entity has grown in leaps and bounds to gain a presence in more than 65 countries. In fact, their proprietary trading technology has become so popular that leading online brokerages apply for a license to use it. Indeed, TI has carved a niche for itself through its great ability to watch both the US and Canadian equity markets and the ability to tap into unstructured data e.g. social media stats to unlock new grounds.
But what really makes TI so popular? For starters, they are well-known for their unique ability to create stock scanners that provide one with a non-stop pipeline of ideas. They also have training programs, live chatrooms, back-testing tools as well as charting tools.
What’s more? Their software can either be accessed through the web or downloaded into one’s computer. So, it seems like convenience is the name of the game when it comes to the innovation trail heralded by the team behind TI. And unlike other cheap stock scanners that tie up huge resources on your computer, the TI system is based on independent data centers and works by only pushing a few, meaningful and filtered stock ideas to the user.
So, as you can imagine, this is a pretty well-thought-out platform which comes complete with a streamlined model. It does a good job of crunching dozens of stocks for you and makes activities that would ordinarily take weeks or even months to accomplish take just a few quick minutes.
What Is The Cost of Trade Ideas?
TI has different pricing options. But one thing we like about them is that they have put in place a pretty straightforward pricing method. We’d like to break it down for you in the next few paragraphs as follows.
*Free Trade Ideas
This is the first-tier through which you can try the proprietary Trade Ideas system free of charge. However, since this is a free option, you can only access the software via the web. The good, thing, however, is that you can always upgrade as you pay up for the premium tiers. Some of the features you can get under this tier include:
- One-on-one training by Barrie Einarson
- Channel Bar
- Delayed market data
This is a fantastic place to start from especially if you’re skeptical or if you simply want to “test drive” the system without committing your cash into it.
*Standard Plan
This is the first one of the two paid tiers. And as you’d expect, the value you’re also bound to get more value from this level than in the free tier. That said, the standard tier seems to be all about price alerts, training programs, and charting. There’s no AI here and likewise, you won’t find much to do with automated trading at this level. But that said, this is still a fantastic place to grow from especially if you’re willing to invest a few hours of your time every day. The standard package costs $1068 per year or $118 per month and some of the key features you get under it include:
- Streaming trade ideas
- 500 price alerts
- One-on-one training by Barrie Einarson
- 10 simultaneous charts
- The channel bar workspace
*The Premium Plan
This is the pinnacle of the TI system and that’s because it provides you with all-around access to all the features in the standard plan and then some. Indeed, at a cost of $2268 per year or $228 per month, this system provides you with the opportunity to enjoy automated trading. Other than the tools you get under the standard package, you get these extras when you opt for the premium plan.
- 20 simultaneous charts
- AI trade assistance (chart-based)
- Building and backtesting tools
- The virtual trading analyst – Holly
So, once again, the straightforward pricing of Trade Ideas is one of the things that impress us about them. And clearly, the higher up the tiers one goes, the more benefits they’re likely to receive. Let us now focus more on some of the unique features that you can get under TI and what you can actually gain from each one of them.
Training
Everyone who subscribes to TI stands to benefit from their free one-on-one training. However, this is not the usual kind of stock trading training but rather a training on how to use the different TI features to your advantage. So, if you’re looking for general training that introduces you to the hooks and crooks of stock-trading you might want to look elsewhere.
Charting
If you’re looking for a well-made charting software, then what Trade Ideas offers might be the game-changer you’re after. Indeed, their charts are not only good looking but also easy to edit. Plus, they include all kinds of basic features among them common indicators, candlesticks and bar charts. You can use these charts to view and confirm alerts. And most importantly, the charts are editable – i.e. you can draw lines, scale them down and even place arrows. Lastly, you can choose to view the markets under different time frames so you can make better choices.
Alerts Window
This window has all the features you need to zero in on a few stock picks. For instance, it comprises configurable columns with details such as symbol, company name, strategy name, price, volume, and Stickwits activities being broken down for you. And in case you’d like to get an inside scoop of the history of your alerts, you’d simply need to scroll down the window.
Back Tester Tool
This tool is exclusively available for those who opt for the premium subscription. The nifty program helps you visualize different possibilities and test different strategies. Most importantly, it provides you with the opportunity to tweak different entry and exit parameters. Generally, this is a great tool for anyone who would like to optimize their strategies prior to stepping into a trade.
AI Engine
TI’s AI engine is a cloud-based system known as Holly. It’s the job of Holly to pre-select different trades and test them on your behalf. The system does so by taking a swing trade approach for you so you stick to being a day trader. In other words, it evaluates the market situations for you over time and does so particularly by studying historical data. And unlike human traders, Holly is able to make trading decisions with non-emotional precision. Three versions of Holly exist as follows:
- Holly – Fully known as Holly Grail, this is the system that gave rise to an era of AI channels. The system was used successfully for two years and in the course of doing so made way for two other channels namely Holly 2 and Holly Neo.
- Holly 2 – Holly 2 is designed for the aggressive trader with a keen interest on speculation. Indeed, Holly 2 does an incredible job of locating any awesome trades that Holly might have missed.
- Holly Neo – The Neo version of Holly is one that leaves nothing to chance. It has been designed with the appreciation of the fact that the stocks markets change every day. And, therefore, the good guys at TI keep developing and equipping it with the latest technology. Needless to say, Holly Neo is the final weapon that any self-directed investor needs to make informed trading choices.
Pros
- Active live chat rooms
- Lots of customization options provided
- Auto-trading features provided for enhanced flexibility
- Great customer support
- Provides you with real-time alerts and data
- Lots of free training programs provided for you
- The team behind it boasts many years of experience in fintech
- Competitive pricing
Cons
- Too many alerts unless you filter them out appropriately
- They should introduce more indicators to their charts
- Pricier compared to other trading services
Final Thoughts
There are millions of activities happening in the stock markets world at any given time. And for that reason, it would be extremely difficult for anyone to single-handedly track the markets prior to launching any trades. But thanks to systems such as Trade Ideas, you’d get an opportunity to automate the stock scanning task and focus on doing the easier part – launching the trades. And for that reason, we think that this is a brilliant idea worth taking a closer look at.