Trade Ideas Review [2022] – Is the Stock Scanner Worth It?

How do active investors succeed in the stock market? To succeed, they need an edge, a way to beat their peers to the good trades so they can get in at a better price and stay in the trades longer for higher profits.

Excellent stock scanning and screening software can help investors gain an advantage by quickly and reliably identifying trade opportunities long before other traders recognize the opportunities.

While most online brokers provide some of this, their bundled offerings are extremely limited in speed, functionality, and customization. This is where Trade Ideas sets itself apart from the competition by providing an excellent all-in-one solution serving all needs traders have.

The Trade Ideas review reveals why I believe that Trade Ideas is the best stock screener for day trading and scanner for active investors. So let me show you why it is well worth the price.

See Also: Trade Ideas Coupon Codes, Promo Codes and Discounts

trade ideas review

Transparency: We may get compensated when you click on links in this article.

Trade Ideas Review: Features and Highlights
๐Ÿš€ Features Stock screener, trade alerts, charts, simulated trading, automated trading, chat room
๐Ÿ’ป Technology Installable software and web-based application
๐Ÿ’ฐ Subscription Monthly, yearly
๐Ÿ‘› Coupons, discounts Yes
๐Ÿ“† Founded 2003
๐Ÿข Headquarters United States

About Trade Ideas

The company was started in 2003 by a group of financial technology veterans who have been pioneers in the active day trading space since the 1990s. After Interactive Brokerage acquired their previous FinTech venture, they founded Trade Ideas and have never looked back.

Concept

Trade Ideas uses cloud-based server technology and processing power to analyze all stock trades as they take place in real-time and report interesting or statistically unusual behavior to their subscribers. Think of Trade Ideas as the card counter in Las Vegas who wants an edge over the casino while playing blackjack.

I have been using and seeing the progress of this technology for well over the course of the last 10 years. One of the main reasons I like this trading software is that Trade Ideas continues to innovate with features like streaming alerts, trade automation and simulated trading. They continually release improvements and offer one of the best artificial intelligence stock trading software solutions for retail traders.

Also, having a clear trading strategy with a defined entry and exit is one of the keys to success for all types of trading activities, be it the own trading account or a prop account from a funded trader program.

Trade Ideas help subscribers understand how the stock market works and how trading strategies can be developed by offering webinars, trading courses and great tutorials.

The Trade Ideas review starts with the exclusive features only Trade Ideas provides, covers traditional functionalities like charts, explains the subscription plans and reveals the best discounts.

Let’s get started!

Where to Start

Start by going to trade-ideas.com to download the newest version of the Windows based application called Trade Ideas Pro AI to get the maximum user experience. To unlock all brand new features, make sure to use the newest public Trade Ideas Pro AI Beta version 5.5.82 or higher. However, if you don’t want to download anything, there is also a web-based version of the software available.

Trade Ideas Sale: Save 15% with Coupon Code DAYTRADINGZ

Exclusive Features

Channel Bar

Like Hulu, Netflix, and other streaming services, Trade Ideas has themed channels to easily view any type of market environment. There’s a Channel Bar on the left of the screen where these market views are located. Clicking on any channel changes the layout to reflect what you selected, showing an “ON” in the selected channel icon.

trade ideas channel bar

Idea Surfing

When you first open Trade Ideas, the highlighted stocks in any of the channels will start to change by themselves. What is going on? This is called “idea surfing” – Trade Ideas is helping investors take the first step. The founders know how hard it is to just get started, so the software automatically starts to look through different stocks in the channel.

This means that without needing to do anything, Trade Ideas is already showing you stocks and situations that you probably would have otherwise not seen. Mousing over to a chart pauses idea surfing to let you investigate the chart further.

trade idea surfing

Real-Time Streaming Alerts

Imagine Twitter but on steroids and with a purpose. Trade Ideas streaming alerts showcase ideas right as they happen in real-time. Streaming real-time alerts are the foundational technology of Trade Ideas. While Trade Ideas has been around for over 20 years, there are still no real competitors to this technology. You can see the timestamp on each new event.

One window can be set up to see a stock on extremely high volume that is making a new 20 day high while crossing the 50 day moving average and a stock that just traded below its last week’s low after earrings. The platform is customizable. Users can set windows up to look for anything that they choose.

This streaming technology is the power behind the scenes that makes Trade Ideas a game changer, not just for the seasoned investor but also for the beginner. Now you won’t only be watching what everyone else is watchingโ€”you are going to be seeing information before the competition notices.

my idea live stream

Stocks I Like

Inside every chart in Trade Ideas there is a Heart Icon. This is exactly like a thumbs up on Facebook or a heart on Twitter. When you click on that Heart Icon, it tells the software that “You Like The Stock .” These liked stocks are automatically added to a different Channel in the Channel Bar named “Stocks I Like.”

This Channel is your custom fingerprint of the stock market experience. It is like your personal stock DNA. The software is learning to help you keep track of the things that you like!

stocks i like feature

Risk and Reward

When you look up any stock inside a Trade Ideas chart, the software assumes you may want to buy it at that moment in time. It then places risk and reward levels based on the amount you typically buy. These profit targets and stop loss levels are visualized based on your settings, such as %-risk, $-amount or fixed number of shares traded. Of course, you can always adjust these settings to your personal preferences.

risk reward levels visualized

Stocks Like This

One of the most powerful features of the Single Stock Window is the ability to instantly see either the industry competitors or stocks that are trading in a similar trading pattern to the stock you are viewing. This is the easiest way to see the Trade Ideas pattern recognition engine at work.

stocks like this similar to

Stock Racing

How do you catch moves the others are missing? What if you were able to watch 10 or 20 stocks simultaneously, being able to compare their performance visually from a point in time when you started to watch them? Now you have a big advantage!

You really have to see this in action to truly get the full picture and power of this data visualization innovation!

trade ideas stock race

Market Pulse (Compare Count)

No other vendor in finance can track positive market events and negative market events while visually showing investors which side is winning.

This type of window is essential in guiding a trader as they pull the trigger on a trade because it conveys the odds. Are you trading against the wind or with the trading winds at your back? Trade Ideas subscribers are successful because they have access to this type of “high touch” information which gives them a feel for the tape. Feel is one of the more important components of excellence in any competitive endeavor!

market pulse compare count

Chart Based Halt Notification

Sometimes stocks move so quickly that it overwhelms the exchange computer systems. This triggers a halt, and that halt notification immediately appears at the top of the Trade Ideas charts, as well as an alert window that is set to notify you of stocks that have become halted. In the stock market, it is about being aware of what is happening before your competition, and this is where Trade Ideas excels.


Chart Based Trading

Chart Based Trading is one of the features showing how the designers of Trade Ideas are active in the financial markets. Every time a new chart comes up, the Trade Ideas software assumes you might want to buy or sell the stock. So, it provides visual risk guidelines based on your typical behavior. There are visual Risk and Reward levels for every stock. Chart Based Trading Buttons are located right next to the customization menu for each chart. These buttons are linked to your Simulated Trading Account. When you click on a button, you send an order to buy or sell based on the chart levels. See how a stop loss is automatically generated for you once you press buy:

trade ideas chart trading

Event Based Backtesting

While some products like TradeStation and MetaStock have types of backtesting, only Trade Ideas lets subscribers backtest a strategy by having them ask questions. For example, is the 200 day moving average cross on stocks that you like a good stock market strategy right now? Is it systematic? Maybe, it is a better stock investment strategy to play the downside or shorting. In addition, unlike all alternatives today, trying to find what indicator works as a signal for a given stock, Trade Ideas tells investors what real-time event turns out to be a good Buy or Sell signal.

The feature is called OddsMaker. It enables users to visualize the strategy trade performance for every trading strategy and its variations in seconds without programming or coding knowledge.

trade ideas oddsmaker

AI Powered Entry and Exit Signals in Trade Ideas Premium

The Artificial Intelligence Trade Ideas named Holly is what truly separates Trade Ideas from the competition. Holly studies the trades of every stock, looking for statistical patterns that are repeating in the recent past. The Trade Ideas Oddsmaker backtesting technology is the foundation of the Trade Ideas Artificial Intelligence. Once Holly finds patterns, they are published as Signals in the AI Channel. These stock patterns become either Buy or Short Sell Signals.

trade ideas artificial intellgience trading

After Hours, Holly runs the number crunching. She prepares like a professional fighter by studying the trading tape of all stocks, seeking a statistical advantage. She looks at the history of breakouts and breakdowns, moving average crosses, and earnings reports, examining countless scenarios and outcomes of whether you had bought and sold.

When the bell rings at the open, Holly is ready with strategies in hand. As charts start to set up, Holly gives you the signal to Get Long or Get Short. Trade Ideas subscribers follow the signals using a fully functional Simulated Trading inside Trade Ideas Pro. This way, subscribers identify what is and is not working without risking actual capital.

Trade Ideas Simulated Trading is identical in terms of software to actual trading via Trade Ideas Brokerage Plus. That means there is virtually nothing new to learn when switching from Trade Ideas simulated to actual trading. This combination of AI and Simulated trading is only available to Trade Ideas Premium subscribers.


Trade Ideas Brokerage Plus

The Trade Ideas Brokerage Plus functionality currently includes a free integrated paper trading account and connections to E-Trade and Interactive Brokers. More brokers like TD Ameritrade will follow soon. With Brokerage Plus, traders can trade from a chart, alert window or by using the customizable buy and sell buttons. It is also possible to use it as a trading robot for automated trade execution and management. In addition, users see the performance graphs and statistics.

brokerage plus

Additional Trade Ideas Features

Charts

Trade Ideas comes with a complete charting package that allows users to do pretty much everything that they need to do with charts, indicators, trendlines, and much more.

trade ideas charts

Alerts via Email

Strategy Trading can also be delivered via email. Any alert strategy can be set to send you the notifications by email. There are lots of smart features integrated, so don’t worry about information overload. One of the simplest ways to get instant value and get started is to allow one of the Trade Ideas support staff experts to help tailor a special kind of strategy that comes to you via email.

Trade Ideas Filters

To get the real power out of Trade Ideas you can limit the universe of stocks via filters. Let us show you some examples of filtering power: here, we are configuring a Top List window. We right click in the window and select Configure. Then we start from scratch to remove anything that might be in the window beforehand. Users can customize any aspect of the window. Trade Ideas has the broadest array of filters out of any vendor in FinTech. The search tab helps you find the exact filters you are looking to change.

trade ideas filters

Trade Ideas Plans, Costs, Pricing

Trade Ideas Premium is available for $1,999 per year, which equals $167 per month, and Trade Ideas Standard costs $999 per year, which equals $84 per month.

The month-by-month subscription comes with more flexibility in terms of contract duration but higher costs per month. Traders who pay monthly will be charged $228 for Premium and $118 per month for the Standard subscription.

Trade Ideas Coupon Code

As an official Trade Ideas Partner, we provide 100% verified Trade Ideas Coupon Codes. Also, we have put together a helpful, step-by-step guide that shows you how to apply the Trade Ideas Coupon Code.

How To Use The Trade Ideas Coupon Code

The Trade Ideas coupon code can be used to reduce the retail price significantly.

  1. Click here to reveal the newest Trade Ideas coupon code.
  2. Choose between the Standard and Premium subscription.
  3. Once you have selected your Trade Ideas product, click on the button Purchase.
  4. Now you see the price for the subscription and a field called “Enter Coupon Code.” Enter the provided coupon code into the field and hit the button with the little arrow next to it.
  5. Now, the Trade Ideas discount is applied. Finally, click on proceed to checkout to subscribe for the discounted rate.

Trade Ideas Standard vs Premium

Trade Ideas Standard vs Premium: Trade Ideas Standard and Premium include real-time trading ideas, price alerts, curated workspaces, charts, access to the live trading room and simulated trading. The premium subscription unlocks access to the AI virtual trading analyst Holly, chart based AI trade assistance, risk assessment, the OddsMaker backtest engine and the automated trading API.

Here is a direct comparison of Trade Ideas Standard and Premium:

trade ideas standard vs premium

Trade Ideas Test Drive

The Trade Ideas Test Drive takes place 5 times a year where users can test Trade Ideas Premium for two weeks for $11.11. Here you can check if the Test Drive is active. Alternatively, here you can register for an email notification from Trade Ideas about the next Test Drive.

Support

A great way to introduce yourself to Trade Ideas is by watching the getting started videos on their YouTube channel. These video resources are very helpful in giving people answers to 95% of their questions.

Education and training are provided for an optimal user experience. The help section explains every feature in detail, supplemented by pictures and videos. Subscribers can learn any aspect of the software, including how to create and set up custom windows and how to program their own formulas for those that have that interest.

The outstanding support is one of the reasons Trade Ideas has been on the Inc, 5000 fastest growing privately held US-based companies for the last 5 years in a row.

Trade Ideas Review Summary

Trade Ideas offers the best choice for beginners and seasoned market technicians as the platform meets all needs for trade alerts, brokerage connectivity, strategy development, strategy testing, data visualization, charting, and streaming information.

New subscribers make use of the Trade Ideas coupon codes and find more information about Trade Ideas and the platform’s technology on its website trade-ideas.com. In my opinion, it is the better choice to invest in Trade Ideas utilizing the full power of the platform with features like simulated trading compared to the alternative of opening a trading account and putting all hard-earned money at risk with trial and error trading.

Pros

  • Most powerful stock market scanner for day trading
  • Artificial Intelligence based trading signals and scans
  • Trading room with real-time day trading desk sharing
  • Scans over 8,000 stocks and ETFs in real-time
  • Extensive customer support
  • Simulated trading, brokerage API and trade automation

Cons

  • Only U.S. and Canadian markets supported

Guide

Using Trade Ideas out of the box is simple and straightforward. In addition, traders who want to fine-tune scanner settings can modify them using over 500 trade alerts and filter types. The following guide shows five examples of how to use the Trade Ideas scanner to find specific alerts like gaps, momentum and high relative volume.

Trade Ideas Gap Scanner

Gap-trading strategies belong to the most popular strategies for day trading. A price gap is the price difference between the previous close and the opening price.

For example, if a stock opens higher than the previous close, it is an up-gap, while it is a down-gap when it opens at a lower price. Trade Ideas scans over 8,000 stocks.

Gap-scan example: Show me all stocks gapping up more than 10% or gapping down more than 10%. You can modify the settings by changing the values and adding more or fewer criteria.

trade ideas gap scanner

Trade Ideas Momo Scanner

A momo scanner is a momentum scanner that identifies high volatile stocks. Price volatility, in combination with high relative volume, often allows day traders to get in and out of a trade with fast trade executions and low slippage even with high share sizes.

Trade Ideas Momentum Scanner Settings

Here are the TI momentum scanner settings and scanner example results:

trade ideas momo scanner

Trade Ideas Breakout Scanner

The breakout scanner identifies stocks that break out of a specific price range. This, for example, can be a breakout through the previous day high or an opening range breakout. Here is a scanner setting to identify stocks that broke through the previous day high and the scanner example results:

trade ideas breakout scanner

Trade Ideas Bull Flag Scanner

A bull flag scanner is not directly available within TI pro, but you can define alerts and filters to archive similar results. For example, you can combine alerts like the Fibonacci 38% Buy Signal, New High or the Crossed Above Resistance alert with price pattern filters like tight consolidation in the upper half of the day range during the past 15 minutes. In that case, you see alerts for strong stocks during or near a breakthrough resistance. Here is a scanner result example:

trade ideas bull flag scanner

Trade Ideas Relative Volume

The relative volume filter can be used to identify stocks with an exceptionally high relative volume, low relative volume or any other correlating volume pattern compared to a previous period. After an earnings announcement, we often see stocks gapping up or down significantly. In many cases, more than the usual average number of shares are traded on such days. The filter helps to identify such volume patterns right when they appear. For example, if news comes out during the trading day, we often see a volume spike within seconds, and TI immediately shows a trade alert if the criteria are met. Here is an example of the filter with its results:

high relative volume scanner

Trade Ideas Alternatives

Trade Ideas provides multiple one-of-a-kind features that competitors don’t have. As a result, active traders will hardly find an alternative to Trade Ideas. Still, long-term investors might want to consider a fundamental research-focused platform. The following blog posts provide a feature-based comparison of Trade Ideas with other well-known trading tools.

FAQ

How do you come up with a trade idea?

Long-term investors typically analyze the financial strength and growth potential by using fundamental research tools. In contrast, day traders focus on identifying momentum stocks with real-time trade alert tools and scanners like Trade Ideas Pro AI.

What are the benefits of using a stock screener?

A stock screener like Trade Ideas identifies the stocks that match defined criteria in real time, which is exceptionally beneficial for day traders. Stock scanners are often used to identify gaps, high relative volume and low float stocks.

About the author: Alexander is the founder of daytradingz.com and has 20 years of experience in the financial markets. He aims to make trading and investing easy to understand for everybody, and has been quoted on Benzinga, Business Insider and GOBankingRates.