Trade Ideas Holly A.I. Performance vs. SPY Updated Daily:
Trade Ideas Stock Scanner Review
Trade-Ideas.com is one of the most professional and popular standalone stock scanners available. On top of that, their Holly AI stock scanner and trade suggestions is beating the SPY to a pulp almost every day. The platform offers tons of integrated scans that find special trading opportunities in real-time. Trade Ideas Pro (TI) is basically the final answer for anyone looking for a non-stop pipeline of ideas throughout the trading day. It is likewise flexible enough for users to develop their own strategies or a hybrid variation that integrates combined techniques by simply dragging and dropping, without ever having to worry about learning a coding language. Trade Ideas (TI) has actually evolved through the years and has actually become much easier to use from the outset, enabling users to step right into it without too much explanation. However, every subscriber is allocated a one-on-one training session with a Trade-Ideas coach to explore the system completely. There are also a lot of videos and tutorials to refer to. The trade scanning software can be accessed via a web browser as well as downloaded as a stand-alone application for more technical users.
Best Stock Trading Scanner
You can add filters to only scan for stocks with a market cap of less than $500m, or a ratio of short interest of at least 10%, or an outstanding float of under 40 million shares. There is literally a limitless mix of scanner settings.
When you log in to Trade Ideas, you can choose from a large number of pre-configured scanner settings if you don’t have your own. These include bullish, bearish, and neutral stock scanning options.
Day trading stocks often requires discovering fast moving stocks and taking trades on the first or second pullbacks. These pullbacks typically take the form of bull flags or flat leading breakouts. As a trading educator, it’s simple for me to teach trading strategies and tell people what good charts look like. The reality is, it’s easy to look back on a chart and find a pattern. The difficult part, however an essential component, for effective trading, is finding patterns in real-time. This is why traders, and especially day traders, require the very best tools.
When I’m looking for a scanner, I consider the setup I’m searching for. In the case of e.g. a bull flag, I’ll be searching for a stock that made a 5% up move in the last 60 minutes and has been consolidating in a 1% range during the last 15-minutes. You can then even continue to add some more filters to scan for stocks only priced between $3.00 and $20.00 or any number of other options.
There is simply no comparison to other stock scanning products. When I first registered to Trade-Ideas, I thought the price was high for a piece of software that only provides scanning. However what I didn’t understand was how basic scanning is for every single trader, especially day traders.
Trade Ideas Software Stock Scanning Background
Formed in 2002, Trade-Ideas has actually progressed from simply a market scanner into a full-fledged trading idea generation platform, serving over 51,000 traders in over 19 countries monitoring the U.S. and Canadian equity markets. The platform integrates expert system innovation to determine what works in the existing markets to create ideas that best fit predictive outcomes. They have a live stock trading chat room with moderators and a dynamic community of active traders. Co-founder Dan Mirkin is also an active trader who regularly posts his trades on Twitter and is completely in touch with the requirements of traders. Unlike a lot of other scanners that binds up massive resources while scanning on the user’s computer, TI manages all the processing at their data centers and passes the filtered stock ideas to the end-user. This is an efficient and streamlined model that results in more accurate and faster scans. Try crunching over 6,000 stocks on your desktop computer and see how quick it runs if you don’t believe me.
The pricing is straightforward. Memberships are $118 a month (or $1068 for pre-paid yearly) for the standard and $228 a month (or $2,268 per year) for their premium plan. The basic bundle comes with all the standard scanning tools including the Channel bar and integrated indicators that can be customized with your personal preferred settings. They also include charts, notifies and leading lists. All real-time data is included as well. The premium bundle includes the whole basic package tool however also includes Advanced windows, Oddsmaker, backtesting and their awesome Artificial Intelligence engine “Holly Grail.”
Trade-Ideas Review: Platform Features
As mentioned earlier, the platform has evolved drastically through the years to become extra user-friendly, particularly for the very first time user by providing a Channel bar which is a graphic tab-based menu of themes and chances you can select to start your scans like Premarket, Trending, Penny Movers, Energy and etc. The graphics make the categories self-explanatory and really adds to the user-friendly nature of the software. The platform can be accessed online through an internet browser or downloaded as a standalone program. I prefer the standalone platform since it is simply integrated smoother and permits more windows and much easier operation.
The charts are pretty basic, but it does include bar or candlesticks and common indicators. It’s always best to eyeball price action. And it’s actually better to do charting on your trading platform in any case, and save the screen real estate for the scans.
Stock Trading Strategy Scanners
TI has built-in systems which are the types of pre-configured scans that users can then set extra specifications like minimum/maximum average/relative volume, price range, exchanges, stocks, alternatives, and ETFs. The methods include things like Up/Down Big in Pre Market, Turbo Breaks, Bullish/Bearish Candle Patterns, Rally off of the Bottom, Down Big Yesterday but Up Big Today to really special things like Short Overextended Up Move – Hold for 45 Minutes 67.7% Success. The possibilities of combining methods are unlimited.
Stock Trading Alerts
The results of the scans appear in the information window which includes configurable columns that detail the time, symbol, business name, strategy name, price, Stocktwits activity, change, volume and more. Users also have the option to scroll down the window to see the history of the alerts for the day.
Back Tester for Trading Strategies
The Oddsmaker is the back-test function available with the Premium membership. This clever program will picture the likelihoods of any strategy within minutes. It also allows you to modify entry and exit criteria to see how the probabilities are affected. This program is an excellent way to optimize your techniques prior to you step into a trade.
Trade Ideas Artificial Intelligence (AI) Holly Review
This is a real innovation with the Trade Ideas TI platform. Holly is the AI engine that executes 35 Long/Short techniques to select prospects with a historic success rate of over 60% and 2:1 revenue factor to trade. The Holly AI engine actively tracks the marketplace to carry out these trades complete with entries and exits as well as the circumstances for exits and kind of method carried out. The outcomes are updated in real-time as users can piggyback on the trades or simply watch and see. Trades are also reviewed in an end-of-day video blog site from the Live Trading Room Recap. Overnight, the Holly A.I. will run over a million simulated trades against over 45 various ideas to create the most practical methods to make use of the next morning. Trade Ideas’s Holly supplies an early morning watchlist of the preferred strategies and stocks she will trade for the day and lists them in the AI Strategies Window for traders to follow throughout the day. Holly exceeded the S&P 500 index five-fold with a 52% return versus 10% in 2016.
Order Entry/Compatible Brokers
The Trade Ideas platform doesn’t offer a streaming news-feed, however, it does provide clickable headlines to press releases. This platform shines when used as a scanner for technical trading alerts, that is what they specialize in. If you require a news platform, Benzinga Pro delivers the best results.
There are a lot of videos readily available on their YouTube channel and tutorials on the website. Truthfully, the platform is not too difficult to determine. Users can check out the meanings of each kind of method to get a concept of exactly what’s under the hood relatively rapidly.
Trade Ideas is hands-down the best professional stock scanner on the market right now. No other scanning platform comes close to the type of distinct intra-day scans or provide the flexibility of combining scans so quickly as TI does. Most of the built-in brokerage platform scanners are clunky and pretty basic. Trade-Ideas offers a limitless variety of pre-built scanners and modification options.
Trade Ideas likewise uses a web optionin case you have to access the platform from a computer system where you do not have the platform set up. The web platform isn’t as effective as the desktop platform (and a bit clunkier) however there’s definitely some worth to it.
Most notably, TI does all the processing on their servers and pushes the stock forecasts to you instead of using your very own computer system, which ties up resources not to mention slows down performance.
What Type of Trader is Trade-Ideas Best For?
This platform is ideal for intra-day stock traders that trade pre-market, normal market and post-market hours. Swing traders may also find some smart ideas for short-term swings if they set the time-frame criteria to longer timespan. Momentum and chart-based technical traders will have their hands full with the non-stop flow of ideas. In fact, the biggest issue is not spreading oneself too thin and getting on a lot of alerts. This applies to all scanners. It assists to have a solid trading method in place and utilize the scanner as a pure idea generator to think about embracing the concepts that fit your design.
Trade Ideas Pros
- The best real-time strategy-based pro stock scanner on the marketplace
- Free moderated live chatroom offers additional ideas
- Artificial intelligence incorporated strategy trade performance is fantastic
- Great number of training videos and tutorials
- Non-stop ideas produced from pre-market through post-market
- Auto-trading availability
- Personalized techniques with drag and drop combination and backtesting
Trade Ideas Cons
- Too many ideas at once can make it easy to over trade
- Charts could use some more indicators