Let’s face it, it’s never easy to generate good trade ideas. Fortunately, you can always turn to a stock screener to generate quality ideas in an objective manner.
As you know, if you want to be successful in trading, you have to do your business in an unbiased manner. Mix your strategy with emotions and you’re bound to face the music.
Talking about unbiased stock screeners, Trade Ideas is probably one of the well-known ones out there in the world. It’s known for its use of artificial intelligence in guiding decision-making. However, the system is available in a two-tier model comprising a standard tier and premium one.
The standard tier is a good entry-level platform but the fact that it provides limited access to some features makes it less ideal if you want to make the most of Trade Ideas’ potency.
That said, in some cases, you don’t need to shoot for the premium tier. And to help you make that decision we’d like to present you with an apples to apples basis kind of comparison of these two plans.
Both tiers provide access to price alerts, customer support, and education materials. Plus, the platform provides some well-made charts although we honestly think that a few more indicators should have been provided to accompany the charts.
Other similarities shared by the standard and premium tiers of Trade Ideas are as follows:
1. Simultaneous Charts
Technical analysis is the cornerstone of profitable trading (although that’s debatable as some traders swear by fundamental trading). To make sure you enjoy technical analysis, the good guys at Trade Ideas provide you with highly user-friendly charts.
The charts are designed in such a manner that they make it easy for you to conduct a visual analysis of your ideal stocks. Plus, you can always turn to these charts if you want to visually confirm a price alert.
The simultaneous charts are available on both tiers of the Trade Ideas system with no restrictions whatsoever.
2. Brokerage Plus
This is a spanking new tool on the stock screener. It’s meant to help traders automate their trading strategies. With B+, as they often call it, you can execute your strategies directly through your broker’s account.
You can use B+ on both tiers but there are some restrictions if you have a Standard plan. For instance, you can’t autotrade with B+ if you’re on a standard plan.
3. Price Alerts
Real-time price alerts ensure that you can keep your finger on the market pulse. And the good news is that you get up to 500 alerts using either of the tiers.
Of course, you might not even need the price alerts if you’re using the premium plan because you’ll be getting lots of data from Holly (the AI bot). But you can still get the alerts if you need them.
4. Live Trading Room
This is probably the sweetest deal you can get in both tiers. The live trading room is an online training platform where you get to learn from Barrie Einarson.
Barrie is such a cool guy. We like his approach to training and the fact that he helps you understand each and every bit of the TI system.
Although his live training sessions aren’t mandatory, we do recommend attending them so that you can understand the many aspects of the trade ideas system. That’s the only way you can be assured of using your stock screener account to the maximum.
And now, we’d like to talk about the many differences that set these two tiers apart. Obviously, the Premium tier has the most features but as it turns out, some of them might not even be as important depending on your style of trading.
1. Simultaneous Charts
Under the Standard tier, you get 10 simultaneous charts. Yet when you opt for the Premium package you end up with 10 more charts. That’s a whole lot of real estate that you can use to analyze even more stocks so you can make even more solid decisions.
2. Artificial Intelligence
The Holly AI system which has made Trade Ideas quite popular is only available for premium subscribers. A quick note about Holly is that she scours the markets for you and provides you with useful investment insights the next morning.
The beauty about Holly is that she comes in 3 different forms. Each one of those forms represents a different level of risk appetite.
- Holly – This is the original form of the famed bot. It has a moderate approach to risks.
- Holly 2 – Holly 2 is the same as Holly only that she has a more aggressive approach to speculation.
- Holly Neo – For the adrenaline junkies in the house, this is just the right tool for the job. Holly Neo has a highly aggressive approach to speculation and uses unique technology invented by the TI team in real-time.
3. Backtesting Tool
What if you could get a free test-drive before investing in any stock? Well, that’s what backtesting tools are for. And you get them when you subscribe to the premium Trade Ideas plan.
If you are yet to become confident in your trading approach, a backtesting tool can be of great help. Unfortunately, there’s no way to use this feature at the standard tier.
So, while that tier might seem like the best option for a beginner who is on a budget, it limits your access to extremely important confidence-building tools.
The premium plan costs nearly twice as much as the standard one. But it’s well worth it. In fact, we’d recommend it for beginners as the added tools provide you with a stable foundation for your investment strategy.
The standard package goes for $118 per month but limits your access to important features. That said, if you’re used to manual trading, the standard tier would probably prove more than enough for you.
We have already made our stand on the standard vs premium Trade Ideas debate. If you want to fully automate your trading strategy, the premium plan is the real deal for you. But if all you’re looking for is a system that provides you with the basic building blocks for success, the lower-priced standard tier might just be all you need.