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.
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.
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
- 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
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:
– Penny Movers
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.