Trading Ideas is a multimillion stock scanning, alerts, chatroom, and training platform that has been around for close to two decades. To give you an impression of what we’re talking about here, in the period between 2015 and 2017, the company saw its sales revenue rise by $134 and its premium subscriber-base expand by 302%. On top of that, the company officially made it to the Inc. 5000 list, a feat meant for America’s fastest growing firms. That’s indeed a big deal for them and proof that there is a huge demand for their products and services.
On their website, one can find almost anything related to stock trading. You’ll find an active chat room, training courses, alerts tools and AI robots that can help automate your trades. Indeed, the system is designed to be a one-stop-shop for all kinds of traders – be they beginners or experienced folks.
What Makes TI So Successful?
There are quite a few things that come to mind when this question is raised. The truth, however, is simpler than you might think. TI’s success is based on their ability to remain ahead of the pack especially as far as innovations and the integration of advanced technology in trading is concerned.
In fact, the company has been so successful that even would-be-competitors like Warrior Trading by Ross Cameron officially use their tools to scan the markets. Indeed, TI is one among the few platforms in the world that scan more than 8,000 stocks in different combinations, every day. Their AI, Holly, finds different entry and exit signals, day in, day out.
The Cost of Trade Ideas
TI offers you three different service tiers. And the good news is that you can start off with their free package which, though great for test-driving the system, offers a number of limitations. Besides the free tier, there are two premium packages. These are the real deal and that’s because they’re the only ones that present you with real-time alerts.
1. The Standard Package
Going for $118 per month, this plan provides you with quite a few tools that you can use to kick-start your journey. In fact, it’s the most popular choice for advanced traders who are comfortable doing their own market research and setting up their strategies.
What the Standard Plan does for you is that it provides you with access to 10 simultaneous charts and charting tools. So, if you’re looking for the best charting platform for stock trading, you now know where to turn. Plus the charts come with all the tools you need including drawing tools.
Another important aspect of this tier is that it presents you with 500 price alerts per day. This is an incredible market monitoring tool that you don’t want to miss out on. And as you can imagine 500 price alerts are just too many for you to miss a bunch of trade opportunities that can make you some good bucks.
And that’s not all, you also get:
- The Channel Bar – This uniquely designed bar enables you to create a workspace that suits your unique style of trading. And this way, you can easily customize the trading experience as you’d like.
- Visual Trade Assistance – We all can do more with a helping hand. And for that reason, the good guys at TI are always by your side helping you make sense of the charts. Best of all, the support team is always online during the trading hours. So if you’re not sure about something you can reach out to them for support.
- A Stream of Ideas – TI provides you with a pipeline of ideas all day long. These ideas are based on social and derived data that’s generated by taking an all-around look at the markets.
- One on One Training – This training is conducted by TI in-house team led by Barrie Einarson. It usually runs from Monday to Friday.
2. The Premium Package
Going for $228 per month, the premium package presents you with 20 simultaneous charts and 500 price alerts. And if you’re looking for Trade Ideas scanner cost, chances are that you’d like to know what’s found within this plan. One thing you need to know is that this package actually provides you with everything else that’s found within the Standard Plan – and then some.
- Entry and Exit Signals – It’s one thing to get trade alerts but another one altogether to know at what point you need to enter or exit the market. Here, you get all that data presented to you through logical assessment tools.
- Backtesting Tools – This set of tools gives you the opportunity to run a litmus test on different trades before committing your hard-earned money to them. This further reduces your chances of losing cash due to miscalculated trade decisions.
- Holly Artificial Intelligence – AI is a real game-changer especially for anyone looking to create a custom trading strategy. It’s also a big find for anyone looking to automate their trades so they can focus more on living and less on analyzing thousands of sticks. TI’s artificial intelligence robot is known as Holly and has since given rise to two siblings namely Holly 2 and Holly Neo.
Comparing The Cost
How does TI fare, cost-wise, compared to its main competitors? Compared to Finviz, one of its main rivals goes for $299.50 per year or $39.50 per month. It, however, doesn’t offer you the kind of stuff TI does – and these include AI, backtesting tools, one-on-one training along with incredible charting tools. Then there is the Momo Stock Screener which is known for its great mobile apps, but then it’s no match for Trade Ideas’ chart-based AI trade assistance, 500 price alerts, and up to 20 simultaneous charts.
So, much as TI may sound expensive, it’s actually competitively priced considering the kind of features it brings on board. And above all, it’s an all-around platform which provides you with all the tools that you need to succeed, unlike its competitors which are merely standalone stock scanners.
Final Thoughts Is It Worth It?
Trade Ideas is actually a pretty decent software. Their scanning and charting tools are some of the best the industry has ever seen. And if you’re looking to get started in day trading, we think that having such a system as part of your arsenal would be such a good idea. So, yes TI is worth the cost.