Is Trade Ideas The Best Trading Scanner?

Trade Ideas is considered one of the best stock scanners currently on the market. The scanner executes many scans throughout the day that helps traders find the most unique and best trading opportunities that are available in real-time. For many, Trade Ideas is the end-all for traders who are looking for a continuous flow of trade ideas during the day.

The scanner is also flexible in that it allows users the opportunity to formulate their strategies. They also have the option of creating an alternative hybrid version that is a combination of the strategies that are already built-in. The only thing that users will need to do is drag and drop the strategies. This means that traders do not need to know coding.

Over the years, Trade Ideas has evolved to become more user-friendly so users can start using the scanner without having to spend hours learning how to use it. With that said, new subscribers to the scanner qualify for one training session with a Trade Ideas coach so they can learn the ins and outs of the system.

Also, traders will have access to on-demand videos and other resources that they can study at their own pace to learn more about the Trade Ideas scanner. The software can be downloaded and it can also be accessed through a browser.

Background

Created in 2002, Trade Ideas has transitioned from solely being a market scanner to being a comprehensive idea generation platform. Currently, it serves more than 50,000 traders who are in 19 countries. These traders monitor two trading markets in North America, the United States, and Canada.

Trade Ideas utilizes AI (artificial intelligence) to identify what is currently working in a particular market. From this information, the scanner generates ideas that are most likely to fit the estimated outcomes.

There is also a very active community chatroom that is full of subscribers and moderators. They are always offering new and inexperienced traders information and advice on how to use the scanner to improve their investing strategies.

One of the co-founders, Dan Mirkin, is also very active in the chatroom as he is also a very active trader. He also makes regular posts on social media platforms like Twitter where he interacts with other traders.

Trade Ideas is different from other types of trading scanners in that it does not drain the resources on mobile and electronic devices. All of Trade Ideas’ processing occurs at the company’s data centers.

The result is an extremely streamlined and efficient scanning model that offers scans that are both faster and more accurate.

Subscription Options

One thing that traders will appreciate if they decide to purchase the scanner is that the pricing is very straightforward. Traders can pay a one-time annual fee of $888, or they can pay $99 per month. These prices are for the standard package.

For traders who are looking for more features and options, there is a premium package available. The price for this package is $188 per month or $1888 per year.

So, what is included in the standard package?

  • Basic scanning tools (Built-in indicators, channel bar)
  • Top lists
  • Alerts
  • Charts
  • Real-time data

Many of these features can be customized with settings you prefer to use.

The premium package includes everything that comes with the standard package, and also:

– Advanced windows
– AI engine
– Oddsmaker backtesting

Features

As mentioned above, Trade Ideas has transitioned throughout the years to become a very user-friendly trade scanning. platform. Many of the features that were included were designed to help new traders and subscribers.

One of these features is the Channel bar. This is menu is tab-based and it allows users to start their scans such as:

– Energy
– Premarket
– Penny Movers
– Trending

The charts that are included in the scanner are pretty simple. The charts are ideal for viewing price action, but other than that, they do not hold a lot of value for traders.

Alerts are set up in the scanner to let users know that they can view scan results. Users can scroll in the window to see the alert history for a particular day.

Trade Ideas is an excellent scanning tool for those who are intra-day traders. Chart-based and momentum traders may find the scanner overwhelming with a seemingly endless flow of ideas. This is why it may be best to use the scanning tool as an idea generator that you can use with your trading methodology.

Do You Think Stock Trading Is Too Risky For You? Think Again!

The first time you thought about diving into stock trading, you probably got excited at the prospect of making easy money. However, the second and third times you thought about it, you likely started getting overwhelmed. You have to consider many different things in this, and the possibility of losing money is a huge concern. Keep reading for a few pieces of stock trading advice that will help you invest your money wisely.

Before you register with a specific stockbroker, investigate their reputation and background online. When you gather crucial information about their track record, you can do business with them with more confidence, knowing you have avoided someone fraudulent.

Keep your stock market investments as simple as you can. When you overthink your investment activities or make things overly complicated based on too many predictions and data points, then you’re jeopardizing your financial health.

Learn what specific fees you’re going to get charged by an investment broker. Always take into account their fee per trade, on top of anything else you might get charged for dealing in stock trades. You might be shocked to see just how quickly these can add up in time.

If you own any common stocks, then use your voting rights. In some situations, based on the company charter, you might be able to vote on things like merger proposals and electing directors. Voting either takes place at an annual shareholder’s meeting or through proxy voting that can happen by email or postal mail.

Keep at least six months worth of your wages or salary in a high-bearing interest rate account, as a rainy day fund. While it can be tempting to throw all of your money into the stock market, you need something to sit on in reserve if you suddenly have huge medical expenses or lose your job.

Sit down with a financial advisor every three months to reconsider your portfolio and investment decisions. The economy is always in a state of flux. You might discover that one particular sector is suddenly outperforming others, while some companies are becoming obsolete. The very time of year might even determine where you need to invest. As such, track your portfolio religiously and make the necessary changes.

Don’t expect overnight success in stock trading. If you’re looking to get rich quick, then you’re going to get inevitably frustrated and abandon the stocks of certain companies before they have enough time to mature into something valuable. Investing requires a lot of patience for it to pay off. Even if you do hit it big early, that might just set your expectations up for even more disappointment.

Keep your investment techniques to a minimum. If you try and use every single strategy that you learn in an attempt to diversify your portfolio, you might actually wind up spreading yourself way too thin. This can wind up being disastrous. Simplicity saves money in the long run, if only because of fewer fees from not having so many transactions.

Never invest in any company until you have thoroughly researched it first. Many investors get giddy about buying into a possibly successful start-up the minute they read about it. However, if the business fails, then you risk losing a lot of money. A little research goes a long way.

Follow the dividend history of every company that you personally own stock in. If you’re an older investor, then you might want to put more of your money into stocks that offer stability by paying out solid dividends. Companies with huge profit margins often reinvest their profits back into their business and/or pay it out to their stockholders through dividends. It’s crucial to understand the yield of a dividend, which is the amount of the yearly dividends that are divided by the stock price.

Paper trading or using an online broker’s demo account is a great way to practice stock trading before actually putting real money on the line. This practice regimen can teach you a lot about how the stock market operates, giving you the chance to sharpen any investing skills you have in a risk-free environment. You can practice using imaginary money to find out which particular techniques work out best for you.

In the world of stock trading, you can use many different strategies to make money. Always do more than enough research, and constantly remind yourself to keep calm. Use these tips and anything else you pick up along the way, and you should be profiting soon.