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How To Use Trade Ideas

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 8 minute read

Exciting times may be had when engaging in day trading. People who make their fortunes in the stock market sometimes claim to do little more than sit in front of a computer for a few hours a day. They all credit the tools they utilize in the trading process as a significant factor in their success.

In his many years working on Wall Street, Dan Mirkin came to the conclusion that the resources available to individual traders were lacking in comparison to those accessible to institutional investors. In 2002, he created the trading program Trade Ideas to help regular people succeed in the market.

Since then, Trade Ideas has skyrocketed in popularity, becoming indispensable to many professional traders.

Characteristics of Trade Ideas

This isn’t your standard trading site. Holly, the platform’s AI engine, equips you with everything you need to spot and capitalize on promising trading chances. The following are just a few of the many exciting benefits you’ll receive as a subscriber to Trade Ideas.

Trade with confidence with Holly AI, the industry’s cutting-edge artificial intelligence engine
Holly, an AI system, serves as the brains behind Trade Ideas’ infrastructure. The stock scanning AI can analyze market data with impressive speed and precision, far beyond the capabilities of any person. A few of Holly’s many talents are:

Signals for entry and exit

Whenever Holly is requested to assess a stock, she employs a number of statistical algorithms to parse out trends in the raw data being generated in real time. In the next step, she tells you where to go to have the greatest possible start.

There are a variety of risk-reducing departure strategies given for each possible entry point. You should only enter the transaction when recommended and set your risk tolerance accordingly.

Alert Windows

It is Holly that drives the alert windows at Trade Ideas. You may customize the information displayed in these panes to receive just the notifications regarding trading opportunities that are of interest to you.

You may use an alert window to specify that you want to be notified when the price of a certain stock, say a penny stock, begins to rise sharply.

Robo-Advisor

Have you considered utilizing a robo-advisor service? Well, Holly raises the bar on these kinds of offerings by employing a battery of trading algorithms to determine the most profitable market moves.

While you snooze, the AI considers more than a million potential trades. She connects with Interactive Brokers so that your live portfolio may automatically make the transactions with the best possibilities of success based on her research for the following trading day.

Plus Brokerage

Because of their usefulness, the Brokerage Plus tools you get with a Trade Ideas membership might be offered as a separate product. In particular, the tool’s three key areas of usefulness are as follows:

  • Analyzer for Stocks. No other stock screening tool compares to Brokerage Plus’s stock scanner. It has advanced scanning capabilities and the ability to filter on a wide variety of parameters beyond what I have included here.
  • Create a plan for trading. Holly has accumulated market data that may be used to inform your own trading methods.
  • Auto-Trading. It’s game over after you’ve established your trading tactics. Using the trading strategy you choose on a real-world Interactive Brokers account, Holly will execute trades automatically. Unless you decide you want to change your tactics, you won’t have to do anything else.

OddsMaker

Imagine if you could improve your trading success rate. OddsMaker was created for this purpose. The program analyzes your portfolio’s historical performance using the company’s own Event Based backtesting methodology.

From there, the app directs you to the tweakable aspects of your trading strategy that can increase your chances of success.

Real-Time Racing

One of the most recent additions to Trade Ideas is a live racing component. What makes this comparison fascinating is that it offers a novel perspective on the two trading chances being compared.

Stocks may be compared by selecting a time window, entering up to 20 stocks, and then selecting a criteria (such as price action, change from close, etc.) that is significant to your trading strategy.

In other words, after the race has been set up, you may sit back and enjoy the spectacle. When one of the virtual race cars crosses the finish line first, you’ll know that the corresponding stock ticker is the one you should be using in your trading plan.

Education

More than anything else, many people in the trading industry value education and training. There are a plethora of services that provide access to the necessary resources, but offer nothing in the way of training to really put those resources to good use. That’s not the case with Trade Ideas.

The firm has spent a lot of money to provide you with the information and resources you need to succeed because it understands that when you succeed, they succeed.

Trade Ideas University is an example of such a place to learn more. Tutorials on the principles of trading, trade setups, risk assessment and management, swing trading, and momentum trading are just some of the many subjects covered in TI University.

The business also recognizes that not everyone learns best using the same methods. We at Trade Ideas want everyone to have the chance to learn in the way that works best for them, so we’ve made that possible.

The Free Trading Room, where you can watch moderator Barrie Einarson trade in real time, the Daily Support Session, and additional webinars are available throughout the week if you’re not into the lessons or need more advice.

Do you wish to progress further in your studies with personalized attention? It’s an option, too. One-on-one lessons with industry experts are available for $129 per hour.

The simplicity and depth of the information provided by Trade Ideas’ courses cannot be overstated. The lesson plan is written in a style that’s simple to follow and comprehend, which is great if you’re just starting off. Even seasoned traders are frequently taken aback by how much they learn to think creatively and improve their trading as a result of the resources available to them.

Trading Room in Real Time

Barrie Einarson, a professional day trader and long-time contributor to Trade Ideas, came up with the idea for the Live Trading Room. When he reached out to the firm in 2013, he proposed implementing a real-time trading room where subscribers could observe market professionals in action.

The live trading room evolved from an early kind of online conversation to a critical component of Trade Ideas. Throughout today’s trading session, viewers may see Einarson make transactions live in the trading room.

The Channel Bar

Last but not least, there’s the Channel Bar, a data bar that may be adjusted to highlight emerging possibilities. There are a total of 48 channels available, with some of the most common ones being:

  • Premarket. Before the market opens, it’s a good idea to see which stocks are making headlines and to consider any potential opportunities that may come as a result.
    The Holy Grail, if you will. Holly uses statistical analysis to identify and offer you trade chances in real time.
  • Holly 2.0. Different from previous versions of Holly, this newer version of the trading platform eliminates the human element entirely in favor of cold, hard statistics.
    Barrie’s Radar. Live Trading Room presenter Einarson compiles a daily list of the top stocks to keep an eye on and makes them available to viewers via the channel bar.
  • Blockchain/Crypto. This is the channel bar for you if you’re interested in trading crypto assets, as it details the best daily chances on the blockchain.
  • Discussion about the Current Social Atmosphere. This feed pulls information from the social media sentiment ETFs BUZZ and MOON. What we have here is a compiled list of the 75 most widely discussed large-cap equities, as determined by a group of analysts.

If none of the predefined layouts work for you, you can always make your own so that the channel bar displays the information that is most relevant to you.

Pros

Now that we’ve covered the benefits of a Trade Ideas subscription, it’s easy to see why so many people choose to sign up. To name a few of the many benefits of joining:

  • Advanced artificial intelligence. Trade Ideas’ main selling point is the availability of Holly, a proprietary AI system. Many businesses make token attempts to compete using AI, but none have impressed me as much as Holly. With Holly’s assistance, you can undertake market analysis, strategy testing, strategy automation, and risk assessment with ease.
  • All-Inclusive Learning Materials. Learning is not something you have to do on your own with Trade Ideas. The organization provides comprehensive training that may simplify even the most difficult trading methods for novice investors. Experts, meanwhile, might anticipate gaining insight into new areas of study.
  • Trading Community with Real People and Real Conversations. It’s no wonder that Trade Ideas’s chat room is always buzzing with activity, given how popular the business itself is. In addition, the moderators of the room do a fantastic job of keeping messages on topic, and everybody on the platform is incredibly nice and happy to assist out. Newcomers will find it to be a wonderful thing.
  • Advanced simulated trading platform. These days, it seems that everyone is equipped with virtual trading software. However, it is important to note that Trade ideas has its own simulator built right into the system. In this place, you won’t have to travel anywhere else to try out your plans. In addition, the Trade Ideas simulator is feature-rich, updated in real time, and provides you with all the possibilities of the Trade Ideas platform so that you may practice trading without the danger of investing real money.
  • Beneficial News Streams. When you click on a stock in Trade Ideas, you’ll be sent to a page with relevant information, including a chart, trade data, and news feed covering any and all recent developments involving that particular stock. Because news may significantly affect market movement, this is helpful for active traders.
  • E*Trade and Interactive Brokers back it up. E*Trade and Interactive Brokers both facilitate transactions on Trade Ideas’ platform. You may take advantage of one-click trading by linking your brokerage account. You may execute a transaction in your brokerage account by clicking and dragging the buy and sell markers within any chart window.

Cons

Trade Ideas, like any other financial service, isn’t going to be the best fit for every type of investor. Fortunately, the disadvantages are minor and easily outweighed by the benefits. Yet, before you commit, think about the following:

  • This is not a good option for anyone looking to invest in the long run. Trade Ideas focuses on trading, not investing, as the name suggests. Those that invest steadily over the long run will not benefit much from using this service.
  • Trading has a high degree of inherent risk. Risk is inherent in every kind of active trading, and stock trading is no exception. Thus, a new approach and set of investing instruments might better serve risk-averse clients.
  • Costlier compared to certain other options. In addition to the channel bar and price alerts, the regular subscription includes access to select AI-based services, the vast majority of educational programs, and price alerts for $118 per month or $999 per year. A premium subscription, which costs $228 per month or $1,999 per year, grants access to automated trading, backtesting, and risk management tools, as well as the full powers of Holly the AI.

Bottom Line

If you’re a day trader, you should definitely add the Trade Ideas program to your arsenal. Having access to AI that not only informs you of potential trading opportunities but also instructs you on how to optimize your approach for maximum profit is invaluable. Trade Ideas is a useful resource for any serious day trader, whether they are just starting out or are seasoned veterans.

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